Domestic entrepreneurs are increasingly looking at the neighboring countries of Europe in search of a comfortable and cozy place to open their business abroad.
Moreover, they are not looking for an offshore in the classical sense of the word to hide income or savings, but a jurisdiction with a really working economy, which will make it possible to calmly build and develop their business while staying at home.

Where and how

And for this it is absolutely not necessary to rush somewhere to the Balkans or Scandinavia. Even states bordering on us, or located in one hour of summer, are quite suitable if you want to open a business abroad. For example, Hungary, Poland, Latvia, Lithuania, Czech Republic, Slovakia.

The seller can sell the goods to his own foreign company with a minimum markup and make the main margin already on subsequent resales to real buyers, paying income tax in the country of residence of his business.

Also, the export of goods through your own non-resident company allows you to completely eliminate the risk of non-return of foreign exchange earnings and prevent the accrual of penalties for such non-return.

It is also encouraging that often in the EU states there are no requirements for the mandatory sale of currency. There is one more good news: we have double tax treaties with all the mentioned countries, which allow residents of each of the states not to pay taxes twice.

These countries have never been included in the "black" lists and are not offshore according to the legislation of other states.

In addition, do not forget that almost all EU member states are characterized by a stable tax legislation, a favorable regulatory environment and a minimum level of corruption.

Interesting video on the topic:

tax haven

One of the most important advantages of owning a non-resident company is the legal minimization of tax liabilities. Many European countries have a lower income tax rate. In Poland and the Czech Republic, income tax is 19%, in Latvia and Lithuania - 15%, in Estonia only distributed income is taxed at all. Accordingly, if an entrepreneur reinvests earnings in business development (acquires fixed assets, replenishes working capital), he does not pay tax. In Slovakia, income tax is 22%. However, there is no tax on dividends, as well as tax on payment of dividends to a non-resident.

Latvia, Estonia and Hungary are ideal countries in terms of the tax burden on businesses. However, they are not considered offshore.

“Companies in these countries can be 100% foreign-owned, and the founders can be both residents and non-residents.”

Although there are also difficulties. For example, investing in the authorized capital of a non-resident is associated with the need to obtain an individual license. Yes, this restriction can also be circumvented, but then there is a risk of being caught by the regulatory authorities.

In addition, European countries have rather strict conditions for opening bank accounts. The client must not only have an impeccable reputation, but also confirm the legitimacy of the origin of funds. Especially when it comes to large sums.

However, you can open a business abroad and fill the statutory fund not immediately, but over a certain period (in some countries this is a common practice). And replenish it, for example, from retained earnings.

Get started is cheap

Business abroad at the stage of registration does not always require the personal presence of the entrepreneur in the country. For example, you can create a company in Estonia or Poland online. In some other countries, these procedures can be shifted to the shoulders of a trusted person or intermediary. This, in fact, will depend on the cost of registration and its duration. But on average new company will cost 2000-3000 euros, and it will be able to start its activities after 2-3 weeks. The package of documents for registration, as a rule, is universal. In order to register a business abroad for a non-resident individual, only a passport is needed. If the founder is a non-resident legal entity, it is necessary to provide notarized copies of the Charter of the enterprise, an extract from the register of registration and the decision of the owners to create legal entity.

It is necessary to prepare the charter of the new enterprise (or use a standard template, as in Estonia), the memorandum of association, the minutes of the founding meeting on the creation of the company. In addition, the consent of the board members to hold these positions will be required. Moreover, it will have to be notarized and translated into the language of the country in which the company is located. There are separate requirements for the director of the company. For example, in Slovakia, only a citizen of this country or another EU state can be a leader. In the Czech Republic, the appointment of a director of a legal entity is allowed. In Estonia, Latvia, Lithuania, both a resident and a foreigner can perform the duties of a director.

A prerequisite for registering a legal entity is a legal address. The cost of services for renting an address ranges from 300 to 500 euros per year.

When registering a business abroad, you will be required to open a bank account, to which funds will be deposited to replenish the authorized capital. True, often a start-up business is given a deferment for the monetization of the charter. When registering online, there are also subtleties.

Estonia requires a local ID-card. With its help, it is enough to go to the commercial register portal, fill in founding documents and a statement, answering question after question. In the same place, a starting account is opened in one of the Estonian banks.

However, in order to obtain an ID-card, you must permanently reside in Estonia and have a residence permit or right to reside. However, there is an alternative option - to issue the status of "e-resident". It is issued to foreigners who do not intend to live in the country, but want to do business there. They are provided with a special Digi-ID, on the basis of which they can also open a company remotely.

Registering a business abroad is only half the battle. It is important to ensure the reality of the company in order to avoid claims from tax and other government agencies.

The company must have a real office at a real address, the presence of local directors, a bank account in a local bank, the storage of financial documentation and reporting in the country of incorporation, the presence of a staff, the implementation of real activities.

If it is not possible to fully meet these criteria, some of them can simply be bought. For example, the services of a nominee director in Estonia will cost 1,500 euros per year. This is a fee for actually being in the company. Any other director's services are paid separately at an hourly rate of 250 euros in case of any active actions.

It must be remembered that any gesture around the company and within it will cost the owner money. How much - it is better to check with local consultants for each specific case. For example, in Lithuania the cost of accounting support is about 1,500 euros per year. Issuing a power of attorney, notarization and apostille in Hungary costs about 350 euros. For each signature of a nominal representative on documents in Latvia, you will have to pay 40 euros. The cost of sending documents in Slovakia is 120 euros. For an extract from trade register in Poland you need to spend 150 euros, and the fee for legal translation of documents in the Czech Republic is 50 euros (per page). Let's make a reservation that the final price of all these procedures will depend on the presence of intermediaries, and some operations can be carried out independently. But in some cases, the help of local lawyers is indispensable.

We bring from the pocket

It is far from always that the founders of the company are obliged to immediately fill the authorized capital with money. For example, in Estonia, when registering a company in the form of an LLC, capital (its minimum amount is 2,500 euros) can simply be declared. And the deadline for its formation must be indicated in the constituent documents.

In the Czech Republic, the authorized capital may even be 1 kroon. True, the regulatory authorities consider such companies unreliable. In addition, a meager authorized capital reduces the chances of obtaining a business visa. Therefore, it is better to replenish it with at least a couple of tens of thousands of crowns. Moreover, the money can be deposited within 5 years from the date of the company's incorporation.
In Poland, the minimum share capital is 5,000 złoty (slightly over 1,200 euros). At the same time, it can be filled not only with money, but also with tangible or intangible assets.

Business Abroad: Experience of Entrepreneurs

Andrey, entrepreneur, owner of a concert agency (Poland).
Previously, a business abroad was registered mainly in order to obtain a visa. That is, it was a formality. For example, I bought the first company with already ready documents, and he got himself a job there so that there would be fewer problems with registration. Since there can be no questions for a hired employee in terms of a visa or a “stay” card (temporary residence permit in Poland), while there are additional requirements for a business owner. For example, for a company to be profitable.

If everything is clean and transparent, then there are no problems with regulatory authorities. As well as attempts at corruption by officials. A couple of times we got caught for the fact that a person worked for us, but was not employed. However, this is more of an exception. Another thing I want to note is the timely and problem-free VAT refund, which is a big problem in our homeland. In general, now, if there is no idea for a business, it makes no sense to open a company just to move. It is better then to find an employer abroad and agree on employment. It's both easier and cheaper.

Evgenia, expert of the Strategy and Security Research Group (Slovakia).

In Slovakia, business migrants can be divided into two groups. There is a large “layer” of those who moved here to move their business here, through a Slovak company to open access to the EU market or to start a new one. The main thing is to work in a calm environment, with friendly clerks in the tax office and other offices. Another group is entrepreneurs who need permanent residence abroad. They either continue to run their business at home, and buy real estate and land with a Slovak company with an eye to the future, or simply move to live in Slovakia, renting out real estate, investing in financial instruments and enjoying a quiet life. At the grassroots and middle levels, there are basically no problems with taxes and reporting in Slovakia. As well as with corruption. An exception can be called the migration police, where traditional incompetence and unwillingness to help happen. But, as a rule, in other departments everything is friendly and nice. Corruption starts higher, near government tenders and projects for European funds where the support of local authorities is required.

In order to significantly increase the profitability of your business. This article will discuss the benefits of business immigration and how IBCC, an international expert in the field of business immigration, can help not only speed up and simplify the process, but also significantly reduce associated costs.

What are the benefits of business immigration

Let's start with the benefits of business immigration and why it is becoming an obvious trend today.

In our dynamically changing world, the borders between countries are increasingly drawn not for geographical and political reasons, but rather according to the principle of the economic “division of labor”. It's no secret that Switzerland is the financial capital of the world, where you will find the most reliable banks, California is the center of IT developers, New York is a paradise for fashion designers. And it is quite logical that business leaders are looking for such locations to continue their work that can offer the most favorable conditions for work.

Among these advantages, it is worth noting, first of all, favorable conditions for taxes:

• special tax incentives for certain types of activities
• business security
• stable legislation, which implies fair conditions for relations with the state.

Other benefits are related to the professional environment. Just imagine, you are developing an IT business, for example, in Ireland, which is already called the European "silicon valley", next to you are advanced IT personnel with the freshest ideas, the best technological developments, the most modern and dynamic, motivated to succeed in work .

Do you agree that a good business environment, stable legislation and a favorable business climate are an excellent basis for a dynamically developing business?

So, you have evaluated all the pros and cons and are ready to transfer your business to another country. You have two options: do this translation yourself or turn to professionals.

Are there any advantages to the first way? Certainly there is! You will not have to incur additional costs, you will independently open an account, register a company, resolve issues of accounting and legal support, taking full responsibility at each stage.

What do the professionals offer?

And what can a company that professionally deals with registration international companies eg IBCC? The offer of our company is not limited to well-developed procedures such as registration of companies in different jurisdictions, this is actually not very difficult. The main issue of such activities is the development of a strategy for entering the international market.

Very often clients come to us at IBCC who know exactly where they would like to move their business. Their opinion is based, as a rule, on the opinion of their colleagues or information from the Internet. Often, the opinion of our clients can even be called biased, we are all, alas, subject to stereotypes, but IBCC is ready to delve into the study of the client's tasks by asking the right questions, ready to offer the most profitable, cheapest, safest and most suitable options.

Our company can fulfill a clearly defined task. If the client says: “I want to transfer business to Hungary, do it quickly, legally and at a reasonable price.” We fulfill the wishes of the client in accordance with the task, in deadlines and at a predetermined cost, with no "hidden fees".

But we consider the implementation of a different approach to be a more important professional task: complete solution, which will allow you to take your business to new heights - a well-thought-out strategy for entering the international level.

How it works

The main principle of our work: IBCC does not offer complex, expensive and unnecessary solutions, our goal is to make our client's business as profitable as possible by removing the burden of unnecessary expenses from him. Let's look at an example of how this works.

The client of our company led successful business in the online trade of Israeli cosmetics. As a new stage in his activity, he considered the possibility of starting an activity aimed at a European buyer. He had no preferences regarding a particular European country, the main condition was to start trading in Europe as soon as possible.

Together with the client, we worked out a number of solutions, assessed the potential for business development in various European countries, taking into account the specifics of its activities. Registration of a European company for online trading in Europe is mandatory, because. opening a trading account with a European bank is possible only for a company registered in the jurisdiction of the EU countries.

As a result, we came to the conclusion that the best solution to this problem would be to register a company in Latvia under the European Trading Account program, which includes registering a company in European jurisdiction and opening a trading account with a European bank with good business reputation.

How this solution saved our client money:

• the selected solution allowed us not to open a physical office, therefore, the cost of maintaining the office did not affect our client;
• Latvian banks offer low fees for processing client payments, compared, for example, with Israeli banks, this has significantly reduced the cost of making payments

We also solved the problem with the shortest possible time to enter the market, as we picked up a ready-made European company, which quickly re-registered as a client. We also quickly managed to register European VAT, as this procedure in Latvia is very fast and simple. Well, the general level of development of the Latvian banking infrastructure, sharpened to maintain international business in general, and ecommerce in particular, allowed to launch our client's business in as soon as possible.

In this case, it was a well-chosen business scheme that allowed not only to start working and making a profit much faster, but also to significantly reduce costs.

Another example

Development client software, turned to us with the task of choosing a country to which he could transfer his business. Other conditions related to moderate taxation, a good business climate, stable working conditions, comfortable and safe conditions residence.

After analyzing the available options, we chose Ireland. There were many reasons for this decision, here are just a few:

• fairly low taxation
• clear and understandable business procedures with all the advantages of the legislation of a European country
• business environment: the European "Silicon Valley" has already attracted thousands of the best IT developers from around the world
• the opportunity to obtain the right to reside for both the investor and his family members

A well-developed strategy for entering this market allowed our client to establish a business in a stable European country, take advantage of a fairly mild tax regime, and, consequently, significantly reduce costs and get the opportunity for a calm and comfortable life.

Basic principles of work

Let us note other principles of our work, and, above all, an individual approach.

For us, an individual approach is not just beautiful words, it is almost the main postulate of our work. We have abandoned the formal approach and offer only individual solutions. The specifics of our activity is such that we are interested in the success of our client and in the dynamic development of his business, and the key to such success is always a successful market entry strategy.

Over the years, we have checked dozens of different jurisdictions and can already firmly say that we have sufficient competence to offer our customers the right solution in accordance with their requirements.

When we receive an application from a client, we consider every little thing, because literally everything affects the success of a business. We do not set ourselves the task of opening thousands of accounts and registering thousands of companies for our clients, with whom they will then not know what to do. We help to make a thoughtful and balanced decision so that our client clearly understands every step in our work and clearly knows how exactly this step will bring him closer to the stated goal.

Of course, the question arises of financial relationships with our clients, in this matter we adhere to the principle of maximum transparency.

It is transparent and honest relations with our clients that we consider our significant advantage, we offer only a fixed price package without any hidden fees. Why do costs usually arise that you did not expect? Because new data emerges and there is a need to issue new papers, obtain new signatures, etc. Since IBCC has been operating in this market for decades, we do not have “financial surprises” for our clients, the procedures have been worked out to the smallest detail, therefore, we clearly know the cost of each stage of work.

If you want a stable and successful promotion of your business, consider the opportunities offered by business immigration and perhaps such a solution will allow you to quickly bring your business to a level that you could not even dream of until recently. Together with you, we are ready to develop a strategy for further work that will make it possible to implement the most ambitious plans.

Learn more about how to competently organize the transfer of a business to another country on the website. IBCC Limited or leave a request in the form below this text and experts will tell you in detail how to start working in Europe!

affiliate material

People say that one move is equal to two fires. Moving a business abroad could be four, but today the Internet, knowledge of languages, entrepreneurial streak and capital greatly simplify the task. There has always been a layer of entrepreneurs who have the courage and perseverance to establish business abroad. Many of them, disappointed, returned back. Nevertheless, it is interesting to understand what motives business is guided by when choosing a country for doing business.

The reasons for leaving are different, but they are all looking for about the same thing - the best opportunities for their business.

Renowned gallery owner Marat Guelman, for example, moved to Montenegro to work on "cultural change" at a luxury housing project on the Budva Riviera. In Russia, Gelman has projects in Lately stubbornly did not go, and such orders are still exotic for us. At the same time, Gelman will not have to “break away from the roots” at all: there is a rather large Russian community in Montenegro, as well as in Lithuania, Israel, Canada and the USA.

In recent years, Silicon Valley has seen a large influx of Russian IT startups focused on North America. They go for long-term orders in the American market, which is large and more developed in terms of demand for diverse IT products.

Others move abroad to launch, for example, a project focused on Russia, as Mikhail Ivanov, former CEO of the popular publishing house Mann, Ivanov and Ferber, did. After selling his share in the publishing house, he created an online library of non-fiction literature in summary on 7-10 pages for individuals and businesses. Among the clients of the service are Sberbank, Sibur, Rosenergoatom and other companies that purchase "retellings" for their employees.

Ivanov boasts that a small team, most of which is outsourced around the world, lack production capacity and logistics, as well as the business he knew well, made the project profitable from day one. So far, the library has books in Russian. By expanding the number of languages, the businessman expects to make it global.

In addition to the already familiar migration of individual businessmen, another, quite fresh trend has recently emerged: the relocation of an entire office or team abroad.

nomad stories

The first extravagant and sensational move was the migration of Pavel Durov after his resignation from the post of CEO of VKontakte, along with his part of a team of 12 people. It's not entirely clear where exactly Durov moved to, but his new Telegram service is a pretty big success in Europe.
Another IT migrant is a major Russian developer computer games Game Insight, which moved its headquarters to Vilnius last summer. Alisa Chumachenko, co-founder and now ex-CEO of Game Insight, explained that the Russian origin of the business allegedly seriously reduced its attractiveness for international investors (Internet version of Vedomosti: “The largest Russian developer mobile games moves to Lithuania”, 05/29/2014)

As the new CEO of the company, Anatoly Ropotov, later said, the move was more associated with a change in the income structure (Internet version of Kommersant: Alisa and Hardcore, 09/04/2014). If in 2012 the United States accounted for 90% of revenue (Game Insight opened an office in California on this occasion), now American users have begun to bring less money, while European ones, on the contrary, more and more. Moving the office closer to the markets is a completely logical and natural decision, because Russia accounts for only 10% of the company's market. Yes, and conferences are more convenient to arrange: the headquarters of Apple, Google, Facebook are within easy reach. Alisa Chumachenko planned to hire Lithuanian marketers and financiers - salaries are lower. The company also considered that the environment in Vilnius is better than in Moscow, rental rates are lower, so it is more comfortable to live and work there. Of the minuses of moving - higher taxes. In total, the company at the time of the move included 900 people, 650 of whom remained in Russia, some were moved to Lithuania, and some were reduced.

With the aggravation of Russian-American relations, the shares of the international IT company Luxoft (IBS Group holding) on ​​the New York Stock Exchange fell by 40% (by the way, the US share in the company's sales was more than 40% at the beginning of 2014). Clients, including Boeing and Deutsche Bank, were seriously worried: Luxoft at that time employed 4.5 thousand programmers in Russia and Ukraine, and this is half of the entire staff. Luxoft quickly got their bearings and announced the relocation of five hundred key Russian and Ukrainian specialists to Eastern Europe, after which the share price gradually returned to its previous level.
Moving, however, not only IT-companies. Animation studio Toonbox moved to Cyprus last summer. Its leader, Pavel Muntyan, explained his decision as follows: “… Russians consider our cartoons not Russian enough. And we don't want to be Russian, we want to be international. Why lock yourself up?" (Newspaper "Nasha Versiya": "The creative class is packing its bags", 11/10/2014). Although taxes are lower in Cyprus, and travel time to the office is shorter and the climate is milder, most of the 72 team members had to be cut, a few refused to move. As a result, 15 studio employees with their families moved to Cyprus.

On the other hand, there is Asia as the region with the fastest growing economy and the well-deserved fame of the “workshop of the world”. The production facilities of most companies have long been located there. Vladimir Melnikov, the owner of Gloria Jeans, recently decided to transfer production to Asia and move closer to it. This largest clothing manufacturer and seller in Russia was based in Rostov. By 2014, the company had about 30 factories in the Rostov and Volgograd regions and a dozen more in the Lugansk and Donetsk regions. During last year Melnikov transferred 80% of his production to Asia, and in October announced the move of the head office to Hong Kong.

* * *

In conclusion, I would like to say that there is nothing extreme or tragic in such moves. Foreign experience- this is always a big plus for professional development. Yes, and people tend to come back, and business too.

A business that is not affiliated with the state always “votes with its feet” for the “port of registry”. People who care about their cause should have the opportunity to choose where to do it. As for the actions of large companies, there is always interest here, and it is always good to understand whose it is.

Although relocation to European countries is popular with companies without production facilities, in terms of providing a comfortable life for ordinary employees, everything is not so simple there. Firstly, nationalist sentiments are growing in Europe, and secondly, the “entry fee” is growing: the requirements for emigrants are becoming tougher.

The philosophy and way of life of peoples and individuals can be safely extrapolated to the philosophy of doing business. There are nomadic peoples leaving pastures that have become unusable, there are sedentary peoples who rebuild their homes and cities after fires and wars. There are merchants and there are artisans, both earn their living, but they have completely different approaches and different values. All this is true for business as well. And one more thing: UCMS is not moving anywhere.

How to transfer your business offshore and should it be done?

Should you move your business offshore? Most media representatives and officials will directly say that in no case. Most offshore service providers will say that you cannot live without an offshore today and you need to acquire it immediately. I will say, based on the experience of our specialists, that there are those who benefit from taking a company offshore and there are those who should not do this.

So today we scrupulously Let's analyze this issue and find out what an offshore company is, who needs it, and who does not. Let's look at the benefits that offshore offers and what investments it will actually require (otherwise some propagandists of "total transparency" claim that a real offshore is cheaper than a metro ticket).

And in the end you will get step by step instructions about how to open a new offshore or transfer existing business offshore.

Make yourself comfortable: we are immersed in a secret world that hides many secrets. And not all the data reported in the media is true or false. Let's try to separate the wheat from the chaff.

What is an offshore or offshore company?

First of all, let's define the concepts: what is an offshore company. Otherwise, the conversation turns into an emotional plane, and we have serious people reading here.

An offshore company is a company outside the main jurisdiction of its owner (a resident of Russia, Kazakhstan, Ukraine, Belarus or another country), which gives its owner or his business certain benefits.

This is not a classical definition, but it is the one closest to modern realities. Even 5-10 years ago, they would have limited themselves to mentioning tax benefits, but today the tax issue is only a small part of the benefits. Often it is obtained as an addition to the main task.

However, in a legal sense, offshore companies have certain criteria that are worth mentioning. And this is where they pop up:

• Reduced tax rates (less than 75% of the weighted average in Russia, for example);
• Lack of double taxation avoidance agreements (there is such an agreement between Russia and Cyprus, which means ( not offshore for residents of the Russian Federation!);
• High degree of data confidentiality (there is no or closed register of companies, directors, beneficiaries) - in this area there is a tectonic shift towards information disclosure;
• Presence in the black list of a country or union (, there is also FATF).

However, the above items usually include only the so-called classic offshore companies that offer minimal or zero tax rates, maximum privacy for the modern world, etc. Among them are the Seychelles, Samoa, etc.

According to the very first wording, offshore companies can be both, and (which officially has the highest corporate tax in the EU - 35%), and, and. In this case, these countries offer specific advantages for foreign investors. Businessmen from other countries benefit if they relocate their business to a third country.

It is these offshores that we most often talk about on our portal: countries that may not be included in the generally recognized offshore registries, but which offer significant benefits for their users.

Who does not need to take the company offshore

But before considering the obvious advantages of offshore companies, the forms of their use, economic and social benefits, it is worth immediately informing about those who are unlikely to need offshore companies.

10 years ago, anyone could own an offshore company with an extra $1,000 in their pocket and benefit from it. Now the situation has changed and requires a more serious approach due to cost, reputational risks, the physical location of your business, strategic objectives, etc.

A short list of those who DO NOT NEED offshore:

• Those whose business is 100% tied to one territory (Russian Federation, Kazakhstan, etc.). If you planned take the management of the company out of the country and at the same time keep production, services, and so on at home, it will cost you too much and cause unnecessary risks. Not to mention the fact that remotely managing such a business is difficult. Such entrepreneurs do not need an offshore for business, but they definitely need it to protect and diversify their personal assets.
• If your the purpose of laundering income or hiding from taxation. Due to changes in the legislation of Russia and the world, most of the old "cheap" schemes stop working. Only for the incorrect use of offshore structures.
• If you are a small business. Using a full-fledged offshore structure is much more expensive than we would like. Especially given the desire of most clients to get a significant tax benefit. Again, here the dreams of businessmen collide with the realities of the law. The use of offshore companies is becoming moderately expensive fun. It is better to increase the turnover, the profit of your company, and only then take it out of the country (or immediately start a business offshore, unless you belong to point 1).

Are you in one of these groups? Do not rush to get upset. Read the material to the end and you will understand how to create conditions so that offshore companies begin to bring benefits to you.

Even if you have a 100% local business.

Transferring a business offshore: who benefits from it?

Now let's talk in general terms about those for whom the use of offshore companies will be beneficial. However, if you can't squeeze yourself into the limits below, don't worry - further on I will show specific applications of offshores and perhaps it will become clearer to you how offshores can be useful for you.

Transferring a business offshore will be beneficial:

• Those who work for the international market. If your products are manufactured in Russia, then it is beneficial for you to create a foreign company and sell products around the world through it. This also includes those who monetize Intellectual Rights, ranging from a patent for an invention to the rights to perform a song.
• Those who diversify assets and risks. You can withdraw your personal profits (dividends, etc.) outside the country in order to protect them from systemic risks, from confiscation or devaluation.
• Those who want to optimize cash flows, including through taxation. This most often concerns large companies that can distribute resources in different directions and maintain overall control from some offshore point. This helps with the organization of control and, among other things, helps to reduce taxes.
• Those who plan to protect their assets, including personal. Offshore is beneficial to use for owning real estate, cars, ships. Through them it is easier and cheaper to transfer property by inheritance. In the same case, it is easier to protect property rights from raider seizures, confiscations and other unpleasant realities of the world.

This is a short outline. Separately, it should be said that offshore companies are often needed to conduct specific activities that are not regulated at all or very weakly in their native country. The IT sector in the CIS countries faces real problems when it is impossible to get bank support for the usual procedure for buying and selling a domain name.

And such nuances, offshore pitfalls allow you to get around. And completely legal.

Legitimate reasons to take a company offshore

In connection with several offshore scandals in recent years, a "veil of illegality" has reappeared around offshore companies. The very fact of using offshore companies is considered illegal.

However, it's like saying that McDonald's operates illegally in other countries, because it sells its franchise from outside the US.

Therefore, the main idea is that it is completely legal to create and use offshore companies.

To say more - with the right construction, it is even profitable. And apparently because of the latter, they find fault with them.

Although we will be frank to the end: it is also possible to use offshore companies for illegal purposes. As well as a kitchen knife, a passenger plane, ordinary water and nylon stockings.

But for some reason, all of the above is not banned and is not put in a gloomy light.

If you need to see at least a few legal reasons to use offshore companies, then here is a specific list for you:

• Manage property in another country. Foreigners are in some cases prohibited from buying property in the country. Even if, apart from foreigners, no one can pull local prices. However, local companies can be run by foreigners. Companies buy real estate. If you want to buy real estate in Mexico 50 km from the coast, then you will need a completely official local offshore company. Similar restrictions (or a complete ban) have been introduced in the Czech Republic, etc. And the company serves as an assistant.
• Reduce inheritance fees. In some countries, inheritance tax can reach up to 50%. Imagine that you inherit a country house. Half of its value must be paid to the treasury in the form of tax. Not everyone is ready for this (financially or in principle). The transfer of shares of the company can take place at minimal cost and the property within the company will be free of additional taxes.
• Asset protection. Don't keep all your eggs in one basket. By distributing them around the world and companies, you reduce the risk of losing everything in one fell swoop. Think, if in Russia they introduce a ban on (hypothetically, as has already happened in the USA), then they will require you to hand over your savings. It makes sense if your bars end up in a private vault at or . Even owning shares through a company will prevent unnecessary paperwork from reaching you - you will pay taxes, but it is unlikely that you will be fined for 100 pieces of paper that have not been issued.
• Diversification. The previous point flows smoothly into this one - different companies, countries and continents, currencies and asset classes. This is necessary to reduce risks. In addition, after the imposition of sanctions, not all services are available to Russians. To gain access to some opportunities, including investments on exchanges, you need to open an offshore company and act through it. They will let you even if they know that you are from Russia (except in extreme cases of "Putin's friends" and similar political games).
• And the most unexpected: you can just run an active business. Offshore companies are real companies that can create a product, sell it to customers, develop and invest money. Such a company is ideal for production and supply to world markets, for running an Internet business (websites, shops, software production), for trading (the most common option), for investing in startups, funds, and so on.

Again, this is all legal. In some cases, you get rid of a long list of necessary requirements, increasing uptime and efficiency. All that remains is to maintain basic reporting (this is important), pay taxes where necessary (this is especially monitored) and strategically go towards your goals.

Transfer business offshore: what is an offshore company for?

Now let's talk about the specific applications of an offshore company and how they provide it. Exist different types offshore companies. It is important to note that in some offshore companies it is more profitable to conduct one type of business, and in another jurisdiction it is the opposite.

Even offshore companies have specialization. If it offers an expensive but reliable solution for payment systems, then it offers affordable privacy protection.

So what types of offshore companies are there?

Trading offshore company- the most popular representative of this area. Most often we are talking about import-export transactions. If you are transporting goods from China to Russia, then it is most profitable to create a company in or. As soon as an order arrives from Russia, you will request shipment from the manufacturer directly from China.

The goods will go to the customer, and you will receive the money. Due to the territorial taxation of Singapore and Hong Kong, you will not have to pay taxes on the transaction.

The same method is suitable in cases where you produce a product in your country and export it. To reduce taxes, you first sell the product to an offshore company, and then it sells it to customers in other countries. Profits are accumulated offshore with minimal taxes.

Investment offshore companies interesting if you invest in various assets around the world. Firstly, it is easier to get access to such assets than directly from Russia or Belarus, for example. Secondly, there is an opportunity to reduce taxes on capital gains.

However, due to deoffshorization, passive companies (which receive income from passive investments) fall under the mandatory requirement of both registration and payment of taxes. This must be considered and consulted with specialists: [email protected].

Holding offshore companies These are companies that own shares of other businesses. Used to optimize taxes, unified management and protection of property rights. The latter was and remains relevant in Russia. And again, it is important to make a reservation here: if your business is completely tied to Russia and you withdraw not personal income, but corporate income, they can be punished for this with the wording “there is no economic feasibility and only for the sake of tax benefits.”

Make sure that the withdrawal of funds is justified.

Inheritance, protection of privacy also an important factor when using an offshore company. We talked about inheritance above: the amount of taxes in some cases simply rolls over. Or you need so many papers that you get tired of running around the authorities.

More interesting is the second point about the privacy of private life. Imagine that you long years worked and earned themselves a mansion, and not just one, but in different countries. If you own them directly, then almost everyone will be able to find out who owns the building and arrange a riot under the fence. Unfortunately, human envy is no worse than misfortune.

An offshore company becomes a kind of shield between you and crowds of people who do not want to hunchback like you, but want to live at your level.

In general, this item requires a careful approach: both offshore corporations and trusts with funds are used here. The use of different structures leads to different consequences. This must be taken into account and the services of experienced consultants should be used.

Professional Services It is also beneficial to provide through an offshore company. If you are a high-level specialist and can afford international orders, then thanks to an offshore company or corporation, you reduce personal costs (your business pays for you, which goes into business expenses and tax deductions), receive a salary or remuneration determined by you, accumulate profits in low tax area.

Great for consultants, developers, architects, and more. employees.

Registration of ships and other vehicles offshore. Most of the planes, yachts and even trucks in the world are often not registered where they are used. This allows you to reduce overhead registration costs, pay less income tax for commercial use, and ensure the confidentiality of vehicle ownership.

Intellectual Property Protection, whether it be a patent or the right to a work is also secured by an offshore company. And although the impudent withdrawal of capital without taxation through schemes with intellectual property is being suppressed today, nevertheless, offshore companies ensure the safety of the main asset of many businesses and its rational economic use.

banking institutions use offshore on an equal footing with everyone else. Moreover, some offshore companies allow not only to open a branch, but also to obtain a license to conduct banking activities. This is a big and deep topic.

Insurance companies different format often located offshore. All major insurers, if not based offshore, are at least active from there. This is due to the flexibility of local legislation, the elaboration of the issue and experience. Yes, and there is no overshoot.

Is it easy, fast and cheap to transfer a business offshore? Offshore myths

As we can see, the list of offshore applicability is long. And yet often different forms combine and create unique designs.

However, there are a lot of myths in this area. Some of them, such as illegality, we have analyzed. Let's talk about others right now.

The most common myths, in addition to illegality, are as follows: offshore is opened quickly, simply and cheaply.

Of course, everything is known in comparison. Opening a company in some countries is indeed much more difficult, expensive and longer. But it's not that. And the fact that even offshore companies have pitfalls and “cheap cheese in a mousetrap” can result in serious problems at the next stage.

Therefore, we will figure out what and how we have here.

Offshore is fast

This item is closest to reality. You can really open or buy a ready-made offshore company in a couple of days. But even in this case, we are talking only about the very process of opening a company, registering it with state bodies.

In practice, the preparation and opening of a company consists of at least three stages:

• Preparation of documents is the most important stage, because correctly collected, translated documents will provide you with a new company, and mistakes will make you nervous and waste time. Depending on your readiness and the requirements of the jurisdiction, the process takes from a week to a month.
• Opening a company is the shortest and most understandable moment. You brought the documents, the agent or official checked that everything is fine. You pay the registration fee and receive a certificate of incorporation. It takes from 1 business day on to a week on .
• Open . Do you want to receive money? So you need an account. And here the requirements are MUCH higher than those of companies. Firstly, not all banks work with offshore companies and this must be taken into account BEFORE you set up a business. Secondly, checking in banks, the volume of documents and the time for consideration can range from the same day to several weeks. And again: the more errors or unprepared documents, the longer the procedure will take.

These are the basic stages, in addition to finding an office, employees, obtaining a license. Therefore, a quick offshore is possible, but with certain reservations. Even when buying a ready-made company, you need to open an account yourself. And this takes time and effort.

Therefore, it is important from the very beginning to clearly know what you are doing and prepare documents. In this, banks and offshores themselves call for the involvement of specialist consultants.

Offshore is cheap

Offshore maintenance fees can indeed be very low. $200-$400 annual renewal, plus $1,000-$4,000 build costs.

Plus savings on taxes - heaven, and more!

But not everything is so simple. The offshore price consists of several components. Especially today, when fictitious companies (shell companies without real content) are fading into history.

What is the price for offshore:

• Primary costs:
  • State collection fee;
  • License fee (if applicable);
  • Registration agent fee (most offshore companies operate only through agents);
  • Office rent (even a virtual office costs money, not to mention a real one);
  • Translation of documents (into English or another, depending on the country where you open a business);
  • Sending documents by courier in one direction and the other;
• Maintenance costs annually:
  • Renewal of permission and license for business;
  • Office rent;
  • Salary to employees (more on that below);
  • In some cases, audits, inspections, reporting;
  • Ordinary business expenses.

Each of the above items individually does not seem like something too expensive. Even in level or jurisdictions, fees and licenses are inexpensive. Not 200 dollars, but for an amount of 2 to 10 thousand it is quite possible to create a serious company in a serious offshore.

But we live in new era offshore, the era of transparency and validity. And this leaves one serious imprint on the budget.

In the past, as you know, it was easy to open and use a shell company or a fictitious company, an intermediary company. Its function was only to disguise transfers from an onshore jurisdiction with high taxes to an offshore jurisdiction with low taxes through a jurisdiction with favorable intermediate taxation. Like Cyprus, through which funds were withdrawn from Russia to any tax-free offshore in the world.

And instead of 20% in Russia, the company paid 5% in Cyprus, and then transferred funds to or the Seychelles almost free of charge.

Now just don't do it. The tax authorities require not only to use double taxation agreements, but to justify them economically. The most striking example of 2016 is the additional for "economically unjustified use of the agreement" with Cyprus.

What is the reason? The money was simply pumped over and the Cypriot company acted as a surrogate without real activity and meaningfulness, completely obeyed instructions from outside and received profit from only one source (according to the tax authorities).

Now this is being avoided.

And we come to the important point: the rationale for your offshore company.

To enjoy many benefits and justify the very fact that you have an offshore company, especially if it was created in conjunction with real business, it is necessary to prove the solvency of the company. This includes having a real operating office and the employees who work there.

Even purse companies, whose goal has always been simply to save up their owner's funds for a comfortable old age, now need to be rigorously thought out. And if we are talking about a company that holds intellectual property rights or issues loans to Russia, or receives money for consultations, justifying the importance of this company in the chain is vital.

Otherwise, instead of saving, you will get extra costs and risks.

It turns out that in order to use tax benefits and some offshore advantages, it is necessary not only to create an offshore company, but also to provide it with content, substance. This includes two things:

• Directly the office in which activities are carried out and from which daily management and control is carried out. A virtual office in Cyprus and a team that works in Moscow is not something that will fit. At the location of the company there should be an office equipped with the necessary equipment, infrastructure and which can be reached by the inspection authorities.
• Employees who do not just sit and answer the calls of the tax authorities, but also have enough competence to perform their duties. If the firm is engaged in the distribution of Intellectual Rights, then the director must clearly have experience in this area. If a company invests and issues loans to other companies, then there must be a department, an analyst and a specialist responsible for business support.

And all this should be located where the offshore company is located. This means that the employee is obliged to receive not a nominal salary, but such that he has enough to live in a new country. If in Cyprus the cost of living is relatively low, then in or London it is much higher. And you, as the owner, one way or another must ensure the performance of your employees.

And it turns out that the overall price tag increases when using offshore companies. Offshores themselves remain affordable, but the associated costs have increased over the past 5-10 years.

Therefore, if you take the process seriously - and we urge you to approach offshore companies as seriously as possible - then it turns out that the situation is not so simple. Let's talk about simplicity below.

Offshore is easy

Offshore remains a simple system to manage, to register, even when closed, which is unbelievable in large states.

But it's just for knowing person. Indeed, if you have been in the industry for several years and constantly communicate with registrars, follow changes in laws, then it is possible to figure it out.

However, the situation changes dramatically if we are talking about ordinary entrepreneurs or people who protect their capital.

Tell me right off the bat what is more suitable for you to protect personal income: a trust in or a company on? And what will be more expensive and / or faster?

But both jurisdictions offer interesting opportunities and potential benefits in asset protection. But how to use them?

Another important point: these are the nuances of the registration itself. Usually they write on the sites: “provide 3 certificates, your passport, $ 200 and in 3 days your company is”.

Yes, it's possible. But will the company be viable? Can you open an account where YOU need? Does the country fall into black list Russia, Belarus, Kazakhstan? What sanctions and restrictions have been imposed by the US, OECD, FATF and other powers that be?

The simplicity of offshore is on a par with the simplicity of ski jumpers. You watch how they accelerate, how slightly they push off the platform and fly like birds. And then softly land after 100 meters. They know when to do what.

If you try to repeat the trick yourself, then at best you will roll sideways down the hill, and at worst you will break your neck.

The same applies to offshore companies. Moreover, there have been more ways to break the neck in this industry over the past 4 years, when the crusade against offshore companies began.

Therefore, the moral of this fable is this: offshore can be simple, affordable and fast if you know how to act. Therefore, each offshore on the official website says several repetitive phrases: take into account your own legislation, involve tax consultants, use the services of specialists.

By the way, about specialists: there are still some points that need to be discussed with them before rushing into the warm offshore sea. And then some shark will bite by the tail ...

Transfer business offshore: personal taxes, deoffshorization, reporting

You have probably heard the term "globalization". How does it manifest itself in you personally? In addition to the fact that while living in Russia you drive a German Mercedes, eat sanctioned Italian mazzarella, drink French Hennessy, and your children study in an English or Chinese special school, you are also subject to all international rules.

The opposite is also true: when you perform any actions outside of Russia, this is reflected in your Russian reality.

First of all, this concerns property issues: foreign companies, foreign bank accounts, real estate, etc.

One way or another, any asset abroad causes certain consequences.

A foreign bank account among Russians makes it necessary to declare it within 30 days. Similarly, if something changes in it. And annually it is necessary to submit a declaration on the balances and the movement of funds on it.

Offshore companies raise even more questions.

According to the law on deoffshorization or controlled foreign companies(CFC) in Russia, each tax resident of Russia is required to report its foreign business if the ownership interest exceeds 10%.

If the share is higher (or the company is jointly owned by several Russians), then it is necessary not only to report on the presence of the company, but also to pay taxes on retained earnings if it exceeds 10 million rubles.

There are exceptions here, but this is exactly what we are talking about: it is necessary to clearly understand what is being done and why. Gone are the days when it was possible to consider one company separately from the entire business chain and from oneself personally. Now it is interconnected and has serious, including legal, consequences.

Therefore, we urge you to consider the process of opening an offshore company not as a way to avoid taxes, to play with the system, but as a step in a well-thought-out strategy for protecting your assets and increasing business efficiency.

For the sake of maximum benefit, speed and cost reduction at all stages, involve experienced consultants in the process. Only with proper information and professional support, offshore companies will become “simple, cheap and fast”, plus safe and promising for your activities: [email protected].

Transfer business offshore: step by step instructions

Above, I tried to explain in as much detail as possible all the key points of working with offshore companies: who they suit and do not suit, what functions are most often assigned to them, what changes in legislation have affected their confidentiality, occupancy and cost.

Now it's time, on the basis of all our knowledge, to draw up step by step guide how to move your business offshore. We will try not to miss a single fundamental step from it.

Step-by-step instructions "How to transfer a business offshore":

1. Before you start searching for registrars, choosing a jurisdiction, interviewing tax consultants and other technical issues, determine for yourself WHY you need offshore. Try to be honest with yourself. Even if you are planning to go offshore just for the sake of tax benefits - check it out. But don't forget about other options:
   • Offshore as a way to save on taxes;
   • Offshore as a way to transfer property by inheritance;
   • Offshore as a holding for managing other businesses;
   • Offshore as a company for intellectual property management;
   • Offshore as a trading company;
   • Offshore as a way to protect and diversify personal assets;
   • And so on.
2. When you have decided on a goal, you need to understand in which direction to move and what resources exist in the world to help you achieve your goal. In order to save time, effort and finances, we recommend that you immediately contact the specialists: [email protected].

The reason is not that you can't do it yourself. It's possible. But in any case, public and private intermediaries will arise before you, which cannot be bypassed. Banks and registrars will put forward requirements that are incomprehensible to a person without special training.

Therefore, we strongly recommend that you contact experienced consultants immediately. This will allow, in addition to saving resources, to get the following: specify your goal; get several options to choose from; assistance in solving specific issues; professionals who stand by your side and are interested in your success.

Therefore, we call this stage "Contact the experts."

Specialists can immediately announce the price for their services. Or they may suggest alternatives. For example, you can safely contact us.

1. Select jurisdiction and bank account

At first glance, it seems that these are two different stages. But in fact they are very closely related. And any experienced expert will tell you about this, and we often remind you of this on the pages of the portal: you need to immediately think over the connection between an offshore company and a bank account. After all, not every European bank will open an offshore account for a company in Belize. And not every customer in Europe will agree to pay to an account in Samoa.

Therefore, both points must be taken into account at once. But of course, each of them has its own nuances.

• Choose a jurisdiction for an offshore company

The jurisdiction for your company should be consistent with the goals of your offshore. Among other things, they most often look at the level of infrastructure, at legislative framework, on the level of taxes and the severity of reporting, on the reputation, on the types of companies.

It is also important to look at whether the jurisdiction exchanges information with the country of your residence, is it included in the automatic exchange system, is it blacklisted? Can it be used for a long company structure?

If you decide to protect your assets and carefully transfer them by inheritance, then pay attention to New Zealand trusts or companies in.

If you are trading with China, then pay attention to Singapore and Hong Kong.

If you are planning to go into the field of financial startups and payment systems - Luxembourg, Ireland, is at your service.

• Select jurisdiction for bank account

Once you have decided on the jurisdiction, ask if it is possible to open a bank account in a reputable bank in conjunction with such a company? The reputation of offshore companies still does not always shine with pure gold, so banks are very careful in choosing foreign partners.

It will be a shame if you invest in opening a new company, but cannot open an account with a bank that will provide payment acceptance for the business and the range of services you need.

Therefore, immediately specify which countries and which banks in them will accept you with your foreign offshore company.

1. Register an offshore company

There are already concrete steps and concrete decisions. After talking with a consultant, you will have a choice of several jurisdictions and banks. You can create your own structure.

• We choose the form of doing business. Depending on the country, these are most often LLCs, LLCs, IBCs, JSCs, corporations, etc.
• We prepare a package of documents for registration

After defining the goal, this is perhaps the most important stage. It is the preparation of a complete, timely package of documents that determines the speed of opening a company (and an account).

In each case, the documents may differ, but there are some general details that cannot be avoided:

• Identity documents of beneficiaries (owners), directors, etc.;
• Application / payment statutory fund(sometimes payment is not required);
• Provide a legal address in the country (virtual or real office);
• Choose a title.

The higher the reputation of the jurisdiction, the longer the list of documents.

It is important to note: documents (statements of accounts, utility bills, etc.), if they are not in the local language, must be translated and certified. In English or another - depends on the country.

• Payment of fees and licenses

Stamp duty, registration fee, etc. First, the amount established by law is paid, and then the consideration of the application begins. Payment terms and invoices will be prompted by your personal consultant.

• Verification of documents by registrars

Here you just need to wait. But most often in offshore, the verification procedure takes from a couple of hours to a couple of days. As soon as a positive decision is made, you will be informed.

If the decision was negative, then you will either be told the reasons and allowed to correct (if it was in the documents), or you will have to start over. Although last option less and less used in practice.

• Confirmation and receipt of documents about the new company

If successful, you will receive incorporation documents and instructions on how to proceed. If you opened a company with a personal presence, then the documents will be handed over from hand to hand. If you chose the remote mode, then the documents will be sent to you by courier.

About the personal and remote opening of the company

It is worth saying a few words about the possibility of opening a company in person or remotely.

Of course, most countries in the world allow you to personally come to the country and open a company with the local responsible authority.

However, offshore companies, firstly, are far away, and secondly, they have long resorted to the services of professional intermediary registrars. Therefore, it is often quite legal to open an offshore company completely remotely, without leaving your hometown.

Which countries offer this option? All classic offshore companies such as Belize, Nevis, BVI; midshore Singapore, Hong Kong, Estonia. With a power of attorney, even in onshore jurisdictions, this is possible.

Thus, you save on the road, accommodation, not to mention time.

And you get a functional company.

Let's move on to the next, most difficult item in the program.

1. Open bank account
   • Choose bank

If you have followed this guide, then you already have a bank in mind that is ready to work with you and your offshore company.

If for some reason you decide to ignore the above, then make sure you have a choice among banks. Otherwise, you will find yourself in a situation in which banks that work with your clients will not want to open an account for you, and banks that are ready to open an account will not work with your clients.

• Pay the fees

For assistance in the preparation and verification of documents, directly for the service of opening an account, you must pay. Depending on the bank, the price varies from $150 to $10,000. different level banking, different requirements for customers and different opportunities.

Consultants will tell you where and how to pay: [email protected].

• Prepare documents

As with a company, this is the most important step. But unlike companies, banks have much higher requirements for documents. They need to comply with international requirements, check their clients and this requires resources, time and paperwork.

Therefore, it will take more time to open a bank account than for a company. Be prepared for this.

What documents are requested by banks most often?

• Questionnaires for opening an account and connection various services(Internet banking, telephone banking, etc.);
• Personal documents of all who access the account and ways to contact them;
• Proof of residence of these persons (utility bills, etc.);
• Documents of incorporation;
• Sometimes certificates like Good Standing;
• Company articles of association, minutes of meetings, sample signatures of owners, etc.

It is important to note that documents (statements of accounts, utility bills, etc.), if they are not in the local language, must be translated and certified. In English or another - depends on the country.

After all documents are checked by our experts. If something is missing, you will be asked to complete or correct it.

Important: the countdown for opening a company or account does not start from the moment of application, but from the moment the institution (registrar or bank) receives the FULL package of documents.

• Transfer the minimum deposit (if required) and identification of beneficiaries

Some banks require before starting consideration of the application, to transfer the first deposit. This may be an amount of several hundred euros or several thousand. This is a test of the seriousness of intentions and the availability of funds.

If the application is accepted, the funds will be transferred to the company's account. If not, they will be returned to the owners.

Also, in some cases, you can open an account 100% remotely. With clients, they will hold an online meeting via Skype or trust the opinion of an intermediary. But in other cases, a personal visit to the bank is required for at least one person who gets access to the account: director, owner, etc.

If a personal visit is required, then our consultants will help organize the trip and tell you how much time you need to allocate for it.

• Wait for confirmation and start using

Banks conduct due diligence of their customers. It takes time. Therefore, in large and reputable banks, an account can be opened for several days or even weeks.

The preparation of documents and the country of incorporation of your company also play a role.

After all checks, we receive confirmation of opening an account. You are sent accesses, account numbers and you are ready for real business.

1. Fill an offshore company

Another important issue that needs to be addressed in this manual is related to the fact that an offshore company today must be real. Shell companies are suspicious, they may be denied opening an account, tax incentives, involve in checks.

Therefore, we have to strive for real filling of the business. Let's take a quick look at the points.

• Office

Real or virtual, but should be. Must meet business requirements, provide communications, etc. to carry out professional activities.

• Employees

There should be enough of them to fulfill their duties. They must have the competence to do their job. They must be paid for their work.

• Activity

The company conducts the kind of activity that it has declared and which corresponds to its license (if required). The activity is legal, economically justified, meets the requirements of the law - local and international.

1. Start business activity

If everything is in place, it's time to get down to business!

1. Annual routine (reporting, stamp duty, office rent)

This is an additional item. But important. Offshore company support does not end after registration. Like any business, it requires investments, control and reporting.

Stamp or registration fees must be paid annually.

Prepare reporting. Even if officially the authorities do not require it to be handed over, it is MANDATORY to create and store it! Not because offshore companies require it, but because the realities of the world require it. And although audits are not required in most offshore companies, you sometimes need them to prove the legality of your funds. Just like reporting.

At least a basic set of documents “from where and where” the funds went is mandatory. Invite your own or external accountants and don't forget about reporting.

And of course, various additional costs for the office itself, for employees, for monitoring changes in legislation, both in Russia and in the offshore itself. This happens all the time and it's worth keeping abreast of innovations.

For help, you can contact the consultants: [email protected].

Summary

It was a very detailed article so you understand every important point. Of course, when working with specific offshores and banks, you will have new questions. But at least in general terms you won't get lost anymore.

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Sanctions and a ban on business are career-threatening celebrity connections

Taxation systems in many modern states involve the collection of fairly substantial percentages of profits. successful companies And individuals. Obviously, despite the fact that taxes are one of the most effective ways filling the state treasury, the process of paying them to the budget is not always rational and beneficial from the point of view of the entrepreneur himself.

Many modern people, when they hear the question of how to legally transfer a large amount abroad, always first think about committing illegal activities. However, the translation Money to bank accounts located within other countries in order to secure their own financial assets and avoid large tax levies - a common practice at present. In addition, it is worth noting that with a competent approach and transparent implementation of all procedures, there is nothing illegal.

At the present time, many states around the world or their individual regions offer quite favorable and loyal tax conditions for foreign investors. In particular, the most popular today is the United Arab Emirates, which, in addition to an attractive and liberal taxation system, is ready to provide foreign citizens with many other beneficial advantages, including full protection of rights and financial freedom, automated high quality banking services, economic stability and transparency of the registration procedure.

The most common way to withdraw funds to foreign bank accounts is to create an offshore company within the UAE. Companies with offshore status offer potential founders favorable conditions for savings own funds, while such activities are considered completely legal. Organizations in offshore zones of the United Arab Emirates provide their owners with
complete tax freedom, the opportunity to own 100% of the shares, as well as the prospect of opening an account in a local bank or international financial organization. At the same time, there is a simple and transparent registration procedure. What sets the UAE apart from many other offshore jurisdictions. It is worth noting that all organizations with offshore status created within the United Arab Emirates are initially registered in the name of the beneficiary, whose name is written in the registration documents and fixed in the charter of the enterprise. Therefore, illegal "shelf" companies that are created without the name of the direct owner for the purpose of further sale to others do not apply here.

It is worth emphasizing that by opening a company in one of the offshore jurisdictions of the United Arab Emirates, the owner receives the right to the legal address of the company in the state, legal and social protection, exemption from taxes in accordance with the legislation of a particular emirate, as well as the possession of . At the same time, such organizations cannot operate within the country, rent an office, or obtain a certificate of residency. The founders are also not direct applicants for obtaining the status of a resident of the state and all subsequent privileges.

It is safe and reliable to keep your savings and company income in the banks of the United Arab Emirates, and the state provides all the conditions for a comfortable profitable financial activities. The emirates of Dubai, Ajman and Ras Al Khaimah provide the opportunity to open offshore companies and bank accounts.