Question 1

Can I open a bank account in any jurisdiction?

Accepted Answer

Individuals and legal entities, regardless of their country of residence or incorporation, are free to open bank accounts in any jurisdiction. However, some countries have their own requirements and peculiarities that differ from jurisdiction to jurisdiction. For example, Estonia is one of the most popular jurisdiction for e-commerce business, but currently Estonian banks open corporate accounts only to companies whose founders are residents of Estonia. If a company is incorporated in Estonia but fails to open a bank account in a local bank, we suggest opening an account in another jurisdiction.

Question 2

I am considering to register a company. Will you open me a bank account as well?

Accepted Answer

Our company offers a full set of services on company incorporation and bank account opening. Our experts will advise you on these matters and assist you on each stage of bank account opening. However, please take into account that as of today opening a bank account is no longer a standard and technically simple procedure. Banks are very careful with non-residents and verify whether a company is not a shell company under its internal requirements.

Question 3

I have business in my resident country. Why do I need to register a company in another country?

Accepted Answer

Many businessmen see a number of advantages in registering companies abroad. Basically, the benefits of company incorporation in foreign jurisdictions are:– low or zero taxes;– an opportunity to develop business and enter into foreign markets;– obtaining a right of preferential entry to another country (including obtaining a Residence Permit);

Question 4

I don’t know what jurisdiction to choose. What shall I do?

Accepted Answer

The choice of jurisdiction is the most important issue. Of all the diversity of countries and advantages of certain jurisdictions, it is difficult to choose a suitable country for doing business. Firstly, you should consider your goals for opening a company abroad. Secondly, you should consider three groups of countries that have certain advantages:Offshore countries with zero taxesJurisdictions with low and moderate tax rates

Question 5

I registered a company through the portal, but later I decided to change a jurisdiction. Is it possible to make a change?

Accepted Answer

If the company is already registered, then you cannot terminate registration through the portal or change jurisdiction.

Question 6

I see that there are different company types. What company types do you register through the portal?

Accepted Answer

Depending on the jurisdiction there are different types of company. On our portal you can register a company of any type. Please indicate a preferred company type in your application when choosing a name. We recommend LTD (Private Limited Company) as this is the easiest type of company to manage and run a business. It is specifically suitable for company with a sole member. If you have several partners from different countries, then we recommend to consider LLP (Limited Liability Partnership).

Question 7

How can I choose a suitable jurisdiction for company registration?

Accepted Answer

When choosing a suitable jurisdiction, we recommend to understand goals and objectives of your business. You should define whether you want to optimize your tax burden, ensure the safety of assets, obtain a residence permit, protect your capital. Or you probably wish to enter certain foreign markets. Besides, you need to understand whether you will register a company in a classic offshore jurisdiction or choose a country with low and medium tax rates. Many businessmen prefer countries in which their companies will have a trustworthy business reputation.

Question 8

I didn’t decide on a company name. How can I choose it? Can I later change company name?

Accepted Answer

When choosing a company name, it is essential to take into account that the company name helps to make a first impression on your partners. When choosing a company name, it is necessary to make sure that it is not similar to registered trademarks or labels as you may have disputes with owners of such trademarks or labels.In some jurisdictions, the name must be approved by the government before the company is registered. In such case, we recommend to choose at least three names and conduct a preliminary search. The name must be unique and not repeat the names of existing companies.

Question 9

Probably, I can just register a company in a jurisdiction with a lowest profits tax rate?

Accepted Answer

Jurisdictions with zero or low tax rates have several advantages as you can optimize your taxes. However, such countries may not suit everyone. It is necessary to analyze whether there are double taxation treaties, what is cost of company annual maintenance and what are the requirements for company business operation.

Question 10

What will be additional expenses after I register a company?

Accepted Answer

After registering the company, you will need to pay for the legal address, nominee service, government fees, as well as accounting and audit services on an annual basis. Separately, you will need to pay banking fees.

Question 11

What is company maintenance cost?

Accepted Answer

The maintenance cost of a foreign company includes services on provision of a legal address, nominee services (for example, services of a nominal shareholder and director, corporate secretary). The maintenance cost may also include an annual state fee, which is levied in some jurisdictions. The maintenance cost of your company is given in your order as Annual.

Question 12

Do I need to be a resident of the country in which I want to register a company?

Accepted Answer

No, you do not need to be a resident of the country to register a company. Most jurisdictions do not have a citizenship or residency requirement for shareholders, directors or secretary of a company. However, there are jurisdictions in which residency of a director allows to have tax advantages. For this reason, some people choose a nominal service, which includes the service of a resident director.

Question 13

I see that there are countries in which it is necessary to have a resident in a board of directors. What to do in such cases?

Accepted Answer

Indeed, there are jurisdictions that require the director of a company to be a resident of this country. If you are not a resident, then you can use the services of a nominal resident director. A company may have a sole director or several directors, one of which may be you. However, the majority of directors should still be residents of this country.

Question 14

Do I need to personally visit a country in which I will register a company?

Accepted Answer

You do not need to personally visit the country where your company will be registered. It is enough that you submit a complete set of documents for registration, which must be translated into the appropriate language and notarized or apostilled. We will submit and receive documents on your behalf without your personal presence.

Question 15

Who will submit documents to tax authorities and perform accounting if I register the company through the portal?

Accepted Answer

We will submit documents to the registration authorities of the country where you register a company. Our accounting services are charged separately.

Question 16

What shall I do if my preferred company name was not pre-approved?

Accepted Answer

If your company name has not been approved, we recommend to understand why it was refused. Governmental body can refuse to approve a company name on a few grounds:– if there is already a registered company with the same or similar name;

Question 17

Is the company registration same as trademark registration in this jurisdiction?

Accepted Answer

No, company registration and trademark registration are two independent procedures. Before you register a company, you are advised to make sure that the company name is not similar to an already registered trademark of another company. After registering a company, you can register a trademark for your company.

Question 18

Do I need to register a trademark in this country?

Accepted Answer

Trademark registration is the most effective way to protect your brand from illegal use by third parties. You are free to decide in which countries to register a trademark depending on the target markets in which you will offer your goods/services or conduct business.

Question 19

How do I need to report on income in my resident country? Is it possible that I will pay taxes twice?

Accepted Answer

When you register a company, you will need to obtain a consultation on tax issues and make sure that there is a double taxation treaty between the country of your company registration and your country of residence. Such treaty is intended to prevent double tax payments in two countries. This treaty also defines the status of tax residency, which will help determine in which country you will pay tax and its amount.

Question 20

How can I get money from customers in my country after I register a company?

Accepted Answer

If you are a resident or citizen of one country, and have registered a company in another jurisdiction, then you can freely receive payments from any companies and individuals, regardless of the country of your partners and contractors. Payments will be transferred to your company’s business account.

Question 21

Payment system requires me to have a bank account in another country. What shall I do in order to receive payments?

Accepted Answer

In fact, the payment system requires that you specify a bank account in the country of your company incorporation. Not all payment systems have such requirements, however, if you come across it, it means that you need to open an account in the country of your company incorporation or contact another payment system.

Question 22

How soon after opening a company can I manage my account online?

Accepted Answer

After the company is registered, you need to open a bank account. You will be required to submit a full set of documents to the bank for verification. Before the account is open, a bank conducts a due diligence and verifies a client. It can take from several weeks up to several months.

Question 23

How soon after opening a company can I accept payments online for my services?

Accepted Answer

If you open a regular bank account, then the procedure of upgrade to a merchant account may require time and efforts from you. Instead, you can open an account in a payment system. With an account opened in the payment system, you will be able to accept payments from credit cards within the shortest time possible which can be a few days or maximum a week. Many systems can process payments from customers’ credit cards, for which you just need to install the appropriate module on your website.

Question 24

How can I be sure that you will register a company? What guarantees do you give?

Accepted Answer

We work with our clients on the basis of a contract that guarantees that you pay us for certain services, and we undertake to provide these services to you. During many years of experience, we have successfully completed more than a hundred of projects of various complexity. Most of our clients who ordered our registration services continue to use our consulting, legal, accounting and other services.

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