COMPANY FORMATION PROCESS

No, we must in any case get information about the person who will control the company, as well as the shareholders and directors.

In order to register a company, we need to carry out the Know Your Customer (KYC) procedure. In most cases, in this procedure, we require an identity document, proof of address, and an account certificate from a bank. In some cases, we may also need a criminal or criminal record certificate, resume, copy of higher education document and other documents.

We need 3 versions of the company name to check the availability of the name, information and documents for each shareholder and director, the proposed type of activity of the company and the required legal form.

Just schedule a free consultation with us and we will be happy to help you find the most appropriate option. There is no one-size-fits-all jurisdiction for dealing with the entire world and it will require clearly identifying the countries where potential clients and counterparties of the company are located.

Timing of company registration varies with the law and the quality of government agencies in the country of incorporation. Sometimes the terms may be further increased due to the compliance (verification) on the applicant. Please note that the terms of registration are calculated from the moment when the client sends all the required data to the lawyers in order to prepare the documents for the establishment of the company.

A shareholder is a person who is listed as the owner of a share or shares in a company and can claim a dividend. Beneficiary is the person who really controls the company and in whose interests it makes profits. Often, the beneficiary and the shareholder are the same, but sometimes the real beneficiary of the company may hire special people (in jurisdictions where it is allowed) - nominee shareholders and directors who will perform all tasks on behalf of the beneficiary as his. In some countries, nominee shareholders and directors work on a professional basis and are licensed by the state authorities. The presence of a nominee shareholder or director does not mean anonymity of the beneficiary's activities and often information about him/her is also transferred to the state body, but these services are still used, for example, to hide from public access information about the real owner of the company, while maintaining transparency before the state authorities and banks.

No. In many cases, you will be required to pay taxes and fees as determined by the jurisdiction. In other cases, your tax may be 0%, but it will not relieve you from the obligation to report on the company's activities. In some countries, registering a company offshore still requires the beneficiary to pay taxes under the controlled foreign company rules.

Yes, of course, the company is registered in accordance with the laws and requirements of the selected jurisdiction. In most cases there are no special restrictions on the registration of a company by a foreign citizen. Nevertheless, it should be taken into account that the country of residence and citizenship of the person registering the company may have rules on notification of participation in foreign legal entities and other legal requirements, which may also imply sanctions for non-compliance with legal requirements.

In general terms, citizenship is determined by the passport of the country whose laws and taxation regime its citizen is obliged to comply with, and in which he may also have the rights which that state will provide for him. The restrictions of other states related to the country of his citizenship may also apply to him. Residency may be different. For example, tax residency in another country may exempt a person from paying taxes in the country of his citizenship. Residency can also be temporary and give a person the right to reside in another country for a long period of time. Determining the tax residency and citizenship of the person registering the company is very important in determining the tax regime applicable to the company.

One country may have several jurisdictions, that is, legal and tax regimes that apply, among other things, to companies registered there. A good example is Great Britain, which has jurisdictions in England and Wales, Scotland and Northern Ireland. Another example is the UAE, which has special economic zones that provide special advantages to companies operating in certain areas.