Starting International Business

Setting up a company abroad:Moving business to another country is often due to a more favorable tax environment. The registration is implemented in several stages.

Why register a business in another country?

By registering a company abroad,you will be able to:

  • Count on support by the authorities.
  • Reduce, or in some cases, eliminate tax burden.
  • Enhance the company image and take it to a new level.
  • Operate outside the home country, and explore new opportunities.
  • Enter the country through a simplified procedure.

The amount and scope of benefits and privileges depend on the country of choice and its legislation.

Stages of registration

  • Choosing the right country. A lot depends on the specifics of the local tax legislation. Frequently, businessmen choose offshore zones that are exempt from taxes or offer the most tax benefits. Also, they often consider countries with moderate tax rates.
  • Studying laws, including tax laws. One should figure out, how and when to pay fees and contributions, file accounts, what is the scope of government's control, and whether the regulatory authorities can freely access information about the company accounts and account history.
  • Choosing a form of ownershipand name. These decisions influence the registration procedure, taxes and number of reports, founder liability, etc.
  • Collecting, preparing and submitting documentsto regulatory authorities. It is also important to know the list of requested documents.
  • The registration processcarried out by public authorities. You can go through the process by yourself or delegate the task to a representative.
  • Opening accounts.The choice of bank is important.