Registration of foreign companies and registration support around the world
Registering a company abroad gives many advantages in doing business, however, it is a rather complicated procedure that requires studying many nuances and legislation of different countries. For a person who is not an expert in international law, the whole journey will take a lot of time and effort, so most entrepreneurs resort to the services of professionals. What makes Russian founders register a business outside their home country? Each entrepreneur is looking for certain advantages depending on the specifics of the company, but most often they are as follows:
- legislation: the absence of frequent checks by government agencies, the security of data about founders and shareholders;
- reduced taxation or no taxes at all;
- increasing in prestige of the company in the eyes of customers and partners;
- the opportunity to work in a foreign market or in close cooperation with international companies;
- simplified entry into the country of company registration for founders and employees (and sometimes — obtaining a residence permit or citizenship).
What kind of advantages the business will receive will depend on the chosen country. Stages of company registration abroad
- Country selection: step one
- Study of the country’s legislation: step two
- Choosing the name and form of ownership of the company: step three
- Execution of documentation: step four
- Registration as such: the final stage
After choosing a country and preparing the necessary package of documents, all papers are handed over to the registrar, who checks them and sends them to government agencies. In some cases, a decision can be expected after that: for example, Cyprus and the UK accept applications for opening a company remotely. For most countries, a personal visit to the registering authority by the founder or his legal representative is mandatory. As a rule, the average registration period for a foreign company is 3-4 weeks. After getting a positive decision, the founder receives a full package of documents: a certificate of registration, the charter, the seal of the company. In some countries, the original documents must be kept by the secretary or registrar, the owner is given only certified copies. Opening an account abroad as an integral stage of registration A mandatory part of the registration and operation of a foreign company is the registration of a current account. This procedure also consists of several stages.
- Bank selection. It is not necessary to choose a bank among the residents of the country in which the company is opened, it is enough to have a representative office.
- Account selection. The choice is completely determined by the needs of the business: in some cases, it is necessary to minimize maintenance costs, in others — to achieve the highest speed of processing operations by bank employees.
- Submitting an application to open an account.
Cost: The cost of registering a company will directly depend on the selected country. Choice of jurisdiction: The process of registering a company abroad is extremely difficult. And it is not so much about procedural points, but about the right choice of jurisdiction. The success of your business and its legitimacy in the Russian legal field depends on this decision. Even if you still decide not to involve professional registrars in the process, first consult with a lawyer and accountant who have experience in this field. Each jurisdiction has its own list of advantages and conditions of registration, therefore, when choosing a foreign country, it is necessary to take into account all the details, regarding your wishes and business needs. Contact our experts and get qualified advice. Our company’s lawyers specialize in various areas of law. Our main specializations are tax, civil and international law. During many years of legal practice, we have formed a huge database of legal cases and solutions that allow us to effectively and promptly help our clients with various requests of any complexity. Special offer for ARAVANA customers: We give the first one-hour consultation on the registration of foreign companies and registration support around the world with ARAVANA specialists for free. The consultation includes:
- Discussion of the situation and the client’s request during a phone call;
- Offering options of jurisdictions for the registration of the client’s company;
- Personal commercial offer.
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