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 kind of 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 receive step-by-step instructions on how to open a new offshore or transfer an 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: about 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, 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 boxes 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 beneficial. 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. There are different types of 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 are those companies that own shares of other businesses. Used to optimize taxes, unified management and protect 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, you 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 worked for many years and earned yourself 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 of various formats 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. But often different forms are combined 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 a new era of offshore, an 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? 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.

In order to enjoy many benefits and justify the very fact that you have an offshore company, especially if it was created for connection with a real business, you need to prove the viability 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 that's just for the knowledgeable 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 on the sites they write: “provide 3 certificates, your passport, $ 200 and in 3 days your company.”

Yes, it's possible. But will the company be viable? Can you open an account where YOU need? Does the country fall into the black list of 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 (CFCs) in Russia, every tax resident of Russia is required to report his foreign business if the share of ownership 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 existence 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, based on all our knowledge, to draw up a step-by-step guide on how to transfer 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;
   • Etc.
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, the legislative framework, the level of taxes and the severity of reporting, the reputation, 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 you 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 of the authorized capital (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.

Important to note: Documents (billing statements, 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 the latter option is used in practice less and less.

• 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 levels of banking, different requirements for clients 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 connecting 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 arouse suspicion, they may be denied opening an account, tax benefits, and involved in inspections.

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.

No one knows when it will suddenly become mainstream.

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Business abroad - features of doing business + 5 factors that determine the choice of a country + step-by-step instructions on how to organize a business + 9 countries for business.

The prospect of developing not only within their homeland is increasingly attracting our entrepreneurs to open some business abroad.

In addition, many countries are only too happy to attract foreign investment.

Of course, you will have to face a number of difficulties - studying the law, generating a relevant business idea, finding funds, and a language barrier.

But with a high level of motivation and the right attitude to work, everything will work out.

Today we will talk about the features of entrepreneurship abroad using the example of various states, as well as the factors that you need to pay attention to when choosing them.

Features of doing business abroad

To organize a business abroad, you must first of all study the legislation of the state where you are going to conquer new horizons.

The business strategy should be based on the following points:

• government loyalty to foreign entrepreneurs;
• what share of the authorized capital of the company can be owned by a foreigner;
• availability of tax benefits for non-residents;
• providing government support.

The next point that you need to pay attention to when you want to have a business abroad is market research.

Pick up a few in a particular state and think about how you can advertise your business.

Starting a business abroad will not work without a personal visit to the country.

Firstly, this way there is a chance to get to know the mentality better, and secondly, it is easier and better to negotiate with suppliers and customers.

Factors determining the choice of a country for doing business

There is no specific instruction on how to act if you want to have a business abroad.

After all, different states have their own characteristics - the political and economic situation, the exchange rate, taxation.

Therefore, each case is considered separately.

There are a number of factors that determine the choice of the country in which business activities will be conducted:

Political situation.

It should be stable and the government should not change the laws every year.

In the first place are many European countries, the USA, Canada, Australia and New Zealand.

Crime level.

You should be interested in precisely the economic crime in the state, which lies in the corruption of officials, the presence of raider seizures.

Laws governing the business activities of foreigners.

Here it is worth considering how loyal the government is to non-residents who want to go abroad - whether a residence permit is required or a long-term visa can be limited, whether it is necessary to permanently reside in the country, what is the size and share of a foreigner in the authorized capital of an enterprise, how to obtain licenses or business patents.

The system of taxation and the size of the minimum investment.

When choosing a state for doing business abroad, it is necessary to study the tax legislation and make an assessment of the proposed case.

With high tax rates and a large amount of authorized capital, it may be necessary to look at other regions where these figures are much lower.

Culture and mentality.

Differences in culture and mentality can be a serious barrier to doing business abroad, because without cooperation with representatives of the country it is impossible to build your own business.

Business planning abroad

When planning a business abroad, you need to be more than carefully prepared and draw up a clear plan of action.

You must be aware that running a business is not a resort.

You will have to create new jobs, pay taxes, order materials and engage in the sale of goods or the provision of your services.

So, to open a business abroad, you need to take the following steps:

Generation of several business ideas.

Come up with a few ideas based on your own knowledge and desires, as well as what you need to implement them abroad.

Choice of countries.

Depending on the ideas you come up with, look for countries in which they will be relevant.

To begin with, consider those in which you have been or which are close to you in spirit.

Also look for information about how busy they are in the market for what you want to sell.

If the idea is innovative, then think about where it will be received with joy and interest, and where it will definitely not be appreciated.

Narrow down your choices.

After a superficial study, it will already become clear which ideas and in which regions can be implemented.

Choose up to three areas of business abroad in which you are ready to work and start to study them more carefully.

Contacting legal advice.

In many large cities, you can find firms that provide advice on starting a business abroad.

There you can get information about the necessary documents, permits, opening dates and taxation system for foreigners.

Search for a lawyer.

After you have decided on a business idea and a state, find a lawyer who will deal with registration issues.

He will draw up and collect all the necessary documents, help in concluding contracts with counterparties.

The services of such a person are quite expensive, but without them it is unlikely that you will be able to independently manage the entire process.

Business abroad on the example of 9 countries

Now you can go to the list of countries where you can start a business abroad.

Each of them will have its own characteristics, let's try to briefly consider the main ones.

1. United States of America

The USA is one of the best and most advanced countries where you can start your business abroad.

As for doing business by non-residents of the country, in fact, everything is quite simple.

The main difficulty will be obtaining a visa.

The procedure for registering companies is similar to ours - choosing a legal form, drawing up a unique name, renting premises, recruiting staff, obtaining permits and licenses, registering with the tax service, opening a bank account.

Insurance against losses and force majeure is mandatory.

2. Canada

"A person who is lucky is a person who has done what others were only about to do."
Jules Renard

If you want to start a business abroad, then take a look at Canada.

The government of the country supports entrepreneurs.

For example, there is a program to help immigrants who want - The Canada Immigrant Investor Program.

In addition, here you can get a loan on favorable terms under the program to support young entrepreneurs under the age of 29.

To open a business in Canada, you must meet one of three requirements:

1. You must be a qualified specialist with higher education, work experience and knowledge of state languages.
2. You must be an entrepreneur in your home country who has been able to generate a profit of $300,000 from your business.
3. You want to be an overseas business investor with $1,600,000 honestly earned, half of which you are willing to invest in a business in Canada.

3. Brazil

Having decided to do business abroad, many people forget about South America.

And its bright representative is Brazil.

Despite the fact that the government of the country encourages foreign investors, it is not so easy to settle here.

You will need at least $50,000, which will give you a "pass" and even the opportunity to get a residence permit.

If you can convince the Board of Immigration of the importance of your business, then this amount can be reduced.

But still get ready for big expenses.

For example, to get a legal address abroad, you will need to pay more than $10,000.

In addition, Brazil is a country with a high level of corruption and a complex system of taxation.

4. Argentina

Quick and easy registration, relatively low investment and a friendly attitude towards foreigners - all this makes Argentina attractive for those who want to open a business abroad.

The main features inherent in opening and doing business in Argentina:

• the minimum authorized capital is $12,000;
• the cost of the procedure for registering a business abroad - $ 7,000;
• to become an investor, who will then have a residence permit, you need to invest about $ 170,000.

5. Germany

One of the most developed and strong countries is Germany.

Previously, it was rarely chosen by those who wanted it abroad.

This was due to the fact that until 2012 it was necessary to invest at least 250,000 euros and provide work for five people.

Now, the entrepreneur needs a high-quality business plan and permission from the authorities of the land where the business will operate.

But be prepared for the fact that most likely you will have to hire lawyers or intermediaries who will advise on opening and doing business abroad.

6. Italy

An important feature and attractive feature of Italy is that entrepreneurs - citizens and foreigners have equal rights in doing business.

Also, a non-resident is not required to prove the significance and importance of the case being opened.

It doesn't even matter to the government whether you make a profit or not, it is enough for them to receive taxes from you in full and on time.

Therefore, if you are looking for a region where you can do business abroad without waiting for a residence permit, then Italy is a suitable option.

In addition, in order to register, you do not need to resort to the services of intermediaries, it is enough to collect all the necessary documents and submit them to the relevant services.

And within one day, you will become an entrepreneur on the Apennine Peninsula.

7. China

it is necessary in a big way - to open a full-fledged production and hire a large staff of workers.

Only in this case, you can count on the fact that business abroad , namely in this state will bring you big profits.

After all, everyone knows that the Celestial Empire is famous for inexpensive goods, so organizing a small business with a small turnover is not at all profitable.

Companies in which a quarter of the authorized capital is owned by foreigners are called Foreign Invested Enterprise, and those in which a non-resident is the sole owner - Wholly Foreign Owned Entity.

The size of the authorized capital of the enterprise will depend on the territory of which province you want to start your business.

There are also a number of destinations in China where foreigners are not allowed, so keep this in mind.

8. Japan

Many mistakenly believe that Japan is not a good place to open a business abroad.

But in fact, the government of the country does not create any barriers for foreigners.

In any case, you will have to obtain a tourist or work visa, which will give you the right to certify the company seal required for the registration procedure.

Also, 5 years are given to fully contribute the authorized capital of the enterprise.

In order for the process of opening and doing business in Japan to be successful, we recommend contacting companies dealing with this issue.

9. Australia

If you want to have a business abroad, where the government doesn't care what you do, as long as you give work to its residents, then Australia will surely suit you.

But to do business here, you must meet the following requirements:

• having a business visa;
• a certificate of knowledge of the English language;
• a bank account for doing business abroad that has $250,000;
• the facility will employ at least three Australians;
• the entrepreneur needs to stay on the island for at least 9 months without leaving anywhere.

How to open a business in Australia for those who travel as part of student "immigration to Australia",

detailed in the video:

As you may have noticed business abroad- it is possible, but only for those who are willing to work.

Study your idea that you want to implement abroad, to the smallest detail, draw up a competent business plan, find professionals, and with their support, start acting.

Remember that success does not come to those who do nothing.

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Currency control over transactions of individuals with foreign currency

Throughout almost the entire history Soviet Union state monopoly on foreign trade and foreign exchange operations reigned in the country. It was not until 1986 that the first timid attempts at liberalization were made in these areas, when enterprises that were subjects of foreign economic activity received the right to receive a part of foreign exchange earnings from exports. Soviet citizens, however, did not receive any new opportunities in connection with these innovations. Resident citizens were still prohibited from purchasing and holding foreign currency in rubles, and there was no organized exchange of rubles for foreign currency. Exceptions to this rule applied to seconded employees of various foreign missions who receive foreign currency according to the norms established by the Ministry of Finance, and to persons receiving fees, pensions and transfers from abroad. All these citizens practically did not have the opportunity to have cash currency on hand (except for business travelers): it was credited to special nominal accounts in the only authorized bank in the country - the Bank for Foreign Trade of the USSR, and it was possible to withdraw from these accounts, with rare exceptions, not currency, but only checks of Vneshposyltorg of various modifications depending on the "status" of the foreign currency and its owner (checks were purchased in the network of so-called "currency shops" - "Birch", "Kashtan", etc.).
The beginning of the true liberalization of foreign trade and currency legislation was the Decree of the President of the RSFSR of November 15, 1991 N 213 "On the liberalization of foreign economic activity on the territory of the RSFSR", and then the Law of the Russian Federation of October 09, 1992 N 3615-1 "On currency regulation and currency control". For the first time, this Law formulated the fundamental principles and concepts related to its jurisdiction.
Almost a decade after the adoption of these acts, our country and its economy, including the banking system, have undergone very large changes that required further liberalization of currency legislation.
Currently, the main normative document of the currency legislation in the country is the Federal Law of December 10, 2003 N 173-FZ "On currency regulation and currency control" (hereinafter - the Law). Since its entry into force, this Law has undergone a number of changes and additions and has been significantly updated as amended on 26.07.2006.
Currency control in accordance with the Law, it is an integral part of the currency regulation system and represents control by the Bank of Russia over the currency operations of credit institutions and currency exchanges, and over the currency operations of other organizations by the federal executive authorities and currency control agents.
The Law refers to currency transactions all transactions with currency values ​​both between residents and non-residents, and between residents, legal entities and individuals, import and export of currency values, their transfer, as well as other operations with them.
Let us consider those provisions of the legislation that relate to the foreign exchange transactions of individuals - residents.
Article 14 of the Law establishes the rights and obligations of residents in the implementation of foreign exchange transactions. According to this article, residents, including individuals, have the right to open bank accounts (bank deposits) in foreign currency in authorized banks without restrictions.

How to profitably transfer money abroad without interest and commissions?

There are no restrictions on currency transactions between residents, including individuals, and authorized banks related to the deposit of residents' funds to bank accounts (deposits) and the receipt of funds from these accounts.

Note. In 2007, amendments were made to Federal Law No. 173-FZ of December 10, 2003, in particular, allowing foreign currency transfers between spouses or close relatives.

Currency transactions between residents, including individuals, and non-residents are carried out without restrictions, with the exception of currency transactions for which these restrictions are established by the Law (restrictions that may be introduced in the country in order to prevent crises in the monetary and financial sphere).
Currency transactions between residents, including individuals, are prohibited. However, there are exceptions which are given in the Law. It should be said that the Instruction of the Bank of Russia dated June 15, 2004 N 117-I "On the procedure for residents and non-residents to submit documents and information to authorized banks when carrying out foreign exchange transactions, the procedure for accounting by authorized banks of foreign exchange transactions and issuing transaction passports" does not specifically regulate relations between individuals - residents and authorized banks in the field of operations with currency values, it applies only to legal entities and individuals - residents who are entrepreneurs without forming a legal entity. Thus, the Law remains the main legal act in the field of currency control, which regulates operations with currency values ​​of resident individuals.
Below are the main types of operations with currency values ​​of resident individuals and the current restrictions of the country's currency legislation.

Translations

The following are allowed types of transfers of individuals— residents in foreign currency in favor of residents:
— transfers from the Russian Federation in favor of other resident individuals to their accounts opened with banks located outside the territory of the Russian Federation, in amounts not exceeding within one business day through one authorized bank the amount equal to the equivalent of USD 5,000 at the official rate set by the Bank of Russia as of the date of debiting funds from the account of a resident individual;
— transfers of a resident individual to the Russian Federation from accounts opened with banks located outside the territory of the Russian Federation in favor of other resident individuals to their accounts in authorized banks;
— transfers of resident individuals from their accounts opened with authorized banks in favor of other resident individuals who are their spouses or close relatives (relatives in direct ascending and descending lines: parents and children, grandfathers, grandmothers and grandchildren, full and half-blooded (having a common father and mother) brothers and sisters, (adoptive parents and adopted children), to the accounts of these persons opened in authorized banks or banks located outside the territory of the Russian Federation.
In the latter case, where the provisions of the Law do not contain any restrictions on the amount, in accordance with the Instruction of the Bank of Russia dated July 20, 2007 N 1868-U "On the submission by resident individuals to authorized banks of documents related to the conduct of certain currency transactions" to resident individuals it is necessary to provide authorized banks with documents (copies of documents) confirming that individuals are spouses or close relatives (in addition to a passport or an identity card, the list attached to this Instruction contains various kinds of certificates).

Calculations

Settlements in the course of foreign exchange transactions are made by resident individuals through bank accounts in authorized banks. However, a number of exceptions are stipulated when transactions are allowed to be carried out directly with cash currency values, namely the following:
- transfer by a resident natural person of currency values ​​as a gift to the state, a constituent entity of the Russian Federation and (or) a municipality;
— donation of currency values ​​to the spouse and close relatives;
— bequest of currency values ​​or their receipt by inheritance right;
- their acquisition and alienation by a resident individual for the purpose of collecting single banknotes and coins;
— transfer by a resident individual from the Russian Federation and receipt in the Russian Federation by a resident individual of a transfer without opening bank accounts;
- purchase from an authorized bank or sale to an authorized bank by a resident individual of cash foreign currency, exchange, replacement of banknotes of a foreign state (a group of foreign states), as well as acceptance of cash foreign currency for collection in banks outside the territory of the Russian Federation;
- settlements of individuals - residents in foreign currency in duty-free shops, as well as in the sale of goods and the provision of services to individuals - residents along the route of vehicles in international transportation;
— settlements carried out by resident individuals located outside the Russian Federation with transport companies under passenger transportation contracts.
When performing foreign exchange transactions, resident individuals may make settlements through accounts opened in accordance with the Law in banks outside the territory of the Russian Federation, at the expense of funds credited to these accounts in accordance with the provisions of the Law.

Purchase and sale of foreign currency

Without any restrictions, operations are carried out related to the sale and purchase by individuals of cash and non-cash foreign currency and checks (including traveller's checks), the nominal value of which is indicated in foreign currency, for the currency of the Russian Federation and foreign currency, as well as with the exchange, replacement of banknotes of one state (group of foreign states), acceptance for collection in banks outside the territory of the Russian Federation of cash foreign currency and checks (including traveller's checks), the nominal value of which is indicated in foreign currency, not for the purposes of carrying out business activities.

Account of an individual in a bank located outside the Russian Federation

Article 12 of the Law refers to residents' accounts in banks located outside the territory of the Russian Federation, which they can open without any restrictions in banks in foreign countries that are members of the OECD or the Financial Action Task Force on Money Laundering (FATF).
Resident individuals are obliged to notify the tax authorities at the place of their registration of the opening (closing) of accounts (deposits) no later than one month from the date of conclusion (termination) of the agreement on opening an account (deposit) with a bank located outside the territory of the Russian Federation, in the form , approved by the tax authorities (this provision is valid for such accounts from 01.01.2007).
The form of notification about opening (closing), about changing the details of an account (deposit) in banks located outside the territory of the Russian Federation, and about the availability of accounts in banks outside the territory of the Russian Federation was approved by Order of the Federal Tax Service of Russia dated 10.08.2006 N SAE-3-09 / [email protected]

Currently, some changes have been made to the existing forms, which will be put into effect before the end of this year.
Resident individuals have the right to transfer funds to their accounts (deposits) opened with banks outside the territory of the Russian Federation from their accounts (deposits) with authorized banks or from their accounts (deposits) opened with banks outside the territory of the Russian Federation. Transfers of funds by resident individuals to their accounts abroad from their accounts in authorized banks are carried out upon presentation to the authorized bank at the first transfer of a notification from the tax authority at the place of registration of the resident on opening an account (deposit) with a mark on the acceptance of the said notification, with the exception of operations required in accordance with the legislation of a foreign state and related to the conditions for opening these accounts (deposits). Resident individuals have the right to carry out currency transactions without restrictions that are not related to the transfer of property and the provision of services on the territory of the Russian Federation, using funds credited in accordance with the Law to accounts (deposits) opened with banks outside the territory of the Russian Federation.
It is important to note that resident individuals, unlike legal entities, are not required to submit to the tax authorities reports on the movement of funds on accounts (deposits) in banks outside the territory of the Russian Federation with supporting bank documents.
Resident individuals are required to submit to the tax authorities at the place of their registration only a report on the balances of funds on accounts (deposits) in banks outside the territory of the Russian Federation as of the beginning of each calendar year.

Import into the Russian Federation and export from the Russian Federation of currency values, the currency of the Russian Federation and domestic securities

Paragraph 1 of Art. 15 of the Law reads: "The import into the Russian Federation of foreign currency and (or) the currency of the Russian Federation, as well as traveler's checks, foreign and (or) domestic securities in documentary form, is carried out by residents and non-residents without restrictions, subject to the requirements of the customs legislation of the Russian Federation."
In the case of a one-time import into the Russian Federation by a resident individual of cash foreign currency and (or) the currency of the Russian Federation, as well as traveler's checks, external and (or) internal securities in documentary form in an amount exceeding the equivalent of 10 thousand US dollars, imported cash foreign currency and (or) the currency of the Russian Federation, as well as other above-mentioned currency values ​​are subject to declaration to the customs authority by submitting a written customs declaration for the entire amount of imported foreign currency and (or) the said currency values ​​in documentary form.
Resident individuals have the right to export from the Russian Federation foreign currency, the currency of the Russian Federation, traveler's checks, external and (or) internal securities in documentary form, previously imported or transferred to the Russian Federation, subject to the requirements of the customs legislation of the Russian Federation within the limits, specified in the customs declaration or other document confirming their import or transfer to the Russian Federation.
Resident individuals have the right to simultaneously export from the Russian Federation cash foreign currency and (or) the currency of the Russian Federation in an amount equal to the equivalent of 10 thousand US dollars or not exceeding this amount. At the same time, it is not required to submit to the customs authority documents confirming that the exported cash foreign currency and (or) the currency of the Russian Federation was previously imported or transferred to the Russian Federation. In the event of a one-time export from the Russian Federation by a resident individual of cash foreign currency and (or) the currency of the Russian Federation in an amount equal to the equivalent of 3 thousand US dollars or not exceeding this amount, the exported cash foreign currency and (or) the currency of the Russian Federation does not are subject to declaration to the customs authority. The export of an amount exceeding this threshold always requires a declaration to the customs authority.
A one-time export from the Russian Federation by a resident individual of cash foreign currency and (or) the currency of the Russian Federation in an amount exceeding the equivalent of 10 thousand US dollars is not allowed, unless the import in such an amount was previously declared in the prescribed manner .
In the event of a one-time export from the Russian Federation by a resident individual of traveler's checks in an amount exceeding the equivalent of 10,000 US dollars, the exported traveler's checks must be declared to the customs authority by submitting a written customs declaration.

findings. Summing up, it should be said that at present in our country, currency control over the operations of resident individuals is quite liberal. Some remaining restrictions, such as, for example, setting a limit on the amount of currency that must be declared when exporting outside the country, limiting the amount of transfer, are temporary and, it seems, will be revised towards easing in the foreseeable future, and then completely canceled. This is dictated by the desire to make the national currency - the ruble - a fully convertible currency, and to turn Moscow into one of the world's leading financial centers.

Customs clearance of goods by individuals, Foreign economic activity

How to transfer money to a foreign account

Author on Youtube: Offshore | Business abroad Accounts abroad

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The ability of an individual to make non-cash transfers in foreign currency directly depends on whether such a person is a resident of the Russian Federation for the purposes of currency regulation. In turn, citizens of the Russian Federation are recognized as residents, with the exception of those permanently residing or temporarily residing (on the basis of a work or study visa) in a foreign state for at least a year (subparagraph “a”, paragraph 6, part 1, article 1 of the Law of 10.12.2003 N 173-FZ).

Cases when non-cash transfers in foreign currency are allowed and prohibited

Transfers in foreign currency between residents and non-residents, as well as between non-residents, are carried out without restrictions (Articles 6, 10 of Law N 173-FZ).

Transfers in foreign currency between residents are prohibited, except for established cases, including (clauses 12, 13, 17, part 1, article 9 of Law N 173-FZ):

• transfer from the Russian Federation in favor of resident individuals to their accounts in banks outside the territory of the Russian Federation, subject to the limit on the amount;
• transfer by a resident in the Russian Federation from an account in a bank outside the territory of the Russian Federation in favor of resident individuals to their accounts in banks in the territory of the Russian Federation;
• transfer from one's bank accounts in the territory of the Russian Federation in favor of spouses or close relatives who are residents to their bank accounts in the territory of the Russian Federation or abroad.

Also, residents can make foreign currency transfers to their own bank accounts both in the Russian Federation and abroad. There are no restrictions on the amount in this case.

Non-cash transfers in foreign currency can be made both from an account opened with a bank and without opening such an account.

Cashless transfers from an account opened with a bank

When making a non-cash transfer in foreign currency from your account, you need to contact the bank where you have an account and submit certain documents.

So, you will need to present a document proving your identity and provide information about the recipient of the transfer (full name, name and details of the bank in which the recipient has an account, and the recipient's account number). In addition, you will need to submit documents that the bank may request from you for the purpose of exercising currency control, including (part 4 of article 12 of Law N 173-FZ; clause 1 of Directive of the Bank of Russia dated 07.20.2007 N 1868-U ):

1) when making a transfer for an amount exceeding $ 5,000.

How to transfer money abroad to an individual?

USA (or the equivalent at the exchange rate of the Bank of Russia on the date of debiting the funds), - information on confirmation of the recipient's currency accounting status (that the recipient is a non-resident). Banks independently determine in what form such information should be provided. This may be, for example, a copy of the passport of a citizen of a foreign state of the recipient or an indication of the non-residence of the recipient in the column "Purpose of payment" of the payment document;

2) when making a transfer to one's own account with a bank outside the territory of the Russian Federation, a notification submitted by a resident to the tax authority at the place of its registration on the opening of this account with a note from the tax authority on its acceptance. This notification shall be submitted only at the time of the first transfer. In the future, it is not required;

3) when making a transfer to your spouse or close relative - documents (copies thereof) confirming kinship, in particular a citizen's passport, birth or marriage certificates.

These documents are not required if you are making a transfer to your spouse or relative to his account opened with a bank outside the territory of the Russian Federation for an amount not exceeding USD 5,000 (or the equivalent at the exchange rate of the Bank of Russia on the date of debiting the funds).

Cashless transfers without opening an account

Non-cash transfers without opening an account to individuals are carried out through money transfer systems.

For their implementation, it is necessary to make sure that there are service points of the selected system in the country and city of presence of the recipient of the money transfer. As a rule, service points are banks with which payment systems have a contractual relationship.

At the service point of the payment system, you will need to present a document proving your identity and provide information about the recipient of the transfer (full name of the recipient of the transfer, country, city). After depositing funds at the cash desk, you will be given a control code or other transfer identifier. This information will need to be transferred to the recipient of the transfer so that he can receive the funds.

A transfer without opening a bank account is carried out within a period of no more than three business days from the date of provision of cash for such a transfer (part 5 of article 5 of the Law of 27.06.2011 N 161-FZ).

When making a transfer from the Russian Federation without opening a bank account through an authorized bank, there is also a limit on the amount of the transfer. Thus, a transfer within one business day through one bank cannot exceed the amount equivalent to 5,000 US dollars at the exchange rate of the Bank of Russia on the date of application for the transfer (clauses 5, 9, part 3, article 14 of Law N 173- FZ; Instruction of the Bank of Russia dated 30.03.2004 N 1412-U).

Note!

When a foreign state imposes bans on payment systems whose operators are registered with the Bank of Russia, a cashless transfer without opening an account can be carried out from the Russian Federation to such a state if the payment system operators, payment infrastructure service providers, foreign organizations (except for foreign banks and credit organizations), on the basis of agreements with which the transfer is made, are under the control of Russian organizations (parts 1, 2 of article 19.1 of Law No. 161-FZ).

Features of electronic money transfer

A cashless transfer without opening a bank account is also possible when transferring electronic money (hereinafter referred to as EMF) using electronic payment systems (for example, WebMoney, Yandex.Money and Qiwi). At the same time, EMF transfers in foreign currency are subject to the requirements of the currency legislation of the Russian Federation (part 3, article 5, part 24, article 7 of Law N 161-FZ).

Help.Electronic money

Electronic funds are called such funds that are previously provided by an individual to the EMF operator to fulfill their monetary obligations to third parties and in respect of which this individual has the right to transfer orders exclusively using electronic means of payment (clause 18, article 3 of Law N 161-FZ) .

In this case, an individual can provide funds to the EMF operator with or without using a bank account. Also, funds in his favor can be provided to the EMF operator by organizations or individual entrepreneurs, if such an opportunity is provided for by the agreement between the individual and the EMF operator. In turn, the latter forms a record on the amount of funds provided to him (parts 2, 4, article 7 of Law N 161-FZ).

The transfer of EMF in favor of their recipients is usually carried out on the basis of an order of an individual - the payer, in some cases - at the request of the recipients of EMF. At the same time, payers and recipients of EMF can be clients of either one or several EMF operators (parts 7, 8, article 7 of Law N 161-FZ).

As a rule, the transfer is carried out by simultaneously accepting the payer's order by the EMF operator, reducing its EMF balance and increasing the recipient's EMF balance by the amount of the transfer. Transfer using a payment card specially designed for this is carried out within a period of no more than three working days after the EMF operator accepts the payer's order. A shorter period may be provided for by an agreement between the EMF operator and the payer, or by the rules of the payment system. After that, the EMF transfer becomes irrevocable and the payer's financial obligations to the recipient of the EMF are terminated (clause 26, article 3, parts 10, 11, 15, 17, article 7 of Law N 161-FZ).

Alfa Bank offers customers to make transfers not only in rubles, but also in foreign currencies. When making such a transfer, there are a number of conditions and features that must be taken into account by the client. The wide network of Alfa Bank allows you to make transfers in Russia and in other countries.

More about currency transfers in Alfa Bank

You can make a currency transfer through the nearest branch of the bank. Transfers are also made via Internet Banking. From card to card within the bank, the transfer is carried out through a mobile application or a PC.

Correspondent banks are located all over the world. The network includes large banks in the USA, Germany, Switzerland, and the Netherlands.

Translation instructions

To make a transfer, the client must open a foreign currency account at the bank. One-time transactions are made from the express account.

What will be required to transfer funds in foreign currency, the bank managers will inform the clients when applying. The rules can be found on the Alfa Bank website.

step by step when making a transfer will be the following:

A passport can be issued in several ways - on your own by sending a finished document to the bank or by entering your data into the finished form through the personal account of the Alfa Click and Alfa Client applications. In the second case, bank employees will fill out the document for you.

Possible problems and nuances

When making transfers, sometimes there are delays in the transfer of money. The Bank has the right to check the data on the transaction in accordance with the current legislation. To speed up the resolution of the issue, it is necessary, at the request of the bank, to provide all the documents on the transaction. In the case of settlements between legal entities, these can be clarifying certificates, invoices, contracts, acts.

The payment may be delayed in case of incorrectly specified recipient data. All data are registered, surname, name, patronymic, address.

Available currencies

Transfers through Alfa Bank are made in the most common currencies - US dollars and euros. Transfers are accepted in various foreign currencies - Canadian dollars, Swiss francs, Danish kroner, pounds sterling, Norwegian kroner, Swedish krona. You can transfer funds in Belarusian rubles and Kazakh tenge.

Estimated time of currency transfers

Alfa Bank provides for transactions on foreign currency accounts at a certain time. So, when making payments in US dollars, for filing an application through the bank's office in paper form, the time is set from 8.00 to 14.00, for processing urgent transfers through the online bank, the operating time is from 14.00 to 16.00.

How can a Russian transfer money to his account abroad?

Euro Transfer Applications are accepted from 8.00 to 14.00 at the bank, and in the Alfa-Client Online system from 14.00 to 15.00. Canadian dollars, Swiss francs, Danish kroner, pounds sterling, Norwegian kroner, Swedish kroner are transferred from 9.00 to 10.00 through the submission of paper applications and from 9.00 to 11.00 in the online system. Transfers in Belarusian rubles the bank accepts from 8.00 to 12.00, For applications for transfers in foreign currency through the Alfa-Client Online system from 12.00 to 13.00. For the transfer of Kazakh tenge, the bank accepts applications from 8.00 to 12.00.

Terms of transfers

Between personal accounts in Alfa Bank, the transfer occurs instantly. Within the bank, currency transfers are made within a day. A transfer to a third-party bank card takes from several minutes to several days. Transfer between countries goes from 5 days to a week. Transfers are credited to the accounts of legal entities within a day without commission.

Commission and restrictions

Transfer rates depend on the type of customer card. So, for transfers in US dollars and euros outside the Alfa Bank network, a commission of 1299 rubles will be charged from Electron cards, 1199 rubles for Classic cards, 1099 rubles for Gold, 999 rubles for Platinum. Transfers without an activated service package will cost 1% of the amount, but not less than 199 rubles and not more than 1999 rubles. For a transfer in foreign currency to the account of Alfa Capital Holding (Ciprus), the bank will charge a commission of $5. Commissions are charged in rubles, if the cost of the transfer is indicated in dollars, then recalculation is made in rubles. The amount is debited from the account or paid by the client to the cash desk of the bank in cash.

For individuals, a transfer of no more than $ 5,000 is allowed at a time. For larger amounts, you need to draw up a transaction passport and provide documents confirming the basis for the transfer.

Pros and cons of currency transfers in Alfa Bank

One of the main advantages of currency transfers through the Alfa Bank system is the simplicity of the operation. A foreign currency account is opened in the bank, a valid card is attached to it, rubles are transferred to a foreign currency account with conversion into the currency corresponding to the account.

Another advantage is the ability to track expenses directly in the currency in which payments are made. When paying from a foreign currency account, for example, in euros when you are in Europe, or in pounds sterling when you are in the UK, or in Swiss francs when you are in Switzerland, you can control expenses more successfully and accurately: card expenses will be in the same currency , in which payment for goods and services is made, or cash is withdrawn from foreign ATMs.

Among the shortcomings of transfers in foreign currency through Alfa Bank, we can note the long transfer of funds in some cases. Recently, there have been problems with transfers from abroad to a foreign currency account in Russian banks.

This is due to the strengthening of state control over foreign exchange transactions. In addition, transfers through Alfa Bank are not accepted in all countries. You can clarify the possibility of transferring funds to a particular country from the manager of Alfa Bank when submitting documents for transfer or by calling +7 495 78-888-78 - for individuals, +7 495 755-58-58 - for organizations.

Of course, the question of how best to transport their money across the border is of interest to many people who are planning long-distance trips and want to ensure the safety of their money. There are several options for transferring money. Naturally, the easiest way is to transport money in cash. Other options: open a bank account and issue a plastic card or transfer cash to special traveler's checks.

Cash, card, travelers checks?

Most travelers choose the first option - they carry money in cash. But they immediately face a problem - the choice of currency. You can, of course, go to the exchange office and buy the currency of the destination country. But many Russian tourists still opt for the dollar (which is accepted almost everywhere) or the euro (if they go to EU countries). In any case, the path of the tourist lies through the exchange office. It should be remembered that the commission for exchanging money is 2-4%.

For owners of bank cards of any international payment system, the process of obtaining the desired currency is easier. Abroad, rubles can be easily withdrawn in dollars or euros. But it is necessary to take into account some nuances. If a plastic card is issued by an enterprise and is used to transfer wages there, then you should go to the bank and find out if this card can be used abroad and what is the commission for withdrawing cash.

It is advisable to have a separate plastic card for international trips of such international payment systems as VISA, EurocardCard, MasterCard, JCB, American Express, Diners Club, which are accepted almost all over the world. It should be noted that the cost and terms of production of such a card differ for each bank.

Another way to exchange rubles for a suitable currency is to convert them into traveller's checks. Checks in their appearance resemble ordinary money, with the only difference being that they have the signature of the owner. And no one else, except the person who put his signature on the checks, can use them. You can buy traveller's checks in Russia in euros (nominal value: from 50 to 500) and in dollars (nominal value: from 20 to 1000). The purchase of these checks is carried out practically without commission, at the rate of the Central Bank or close to it. And American Express checks in many banks sell no fees at all.

Abroad, checks can be cashed in euros, dollars, local currency, while losing 0.5-2% of the amount of the traveller's check. But even here you can save some money. For example, popular American Express checks can be used to pay in restaurants, hotels, shops in many countries and receive change in cash. In addition, there are exchange offices that cash checks for the national currency without commission, you just need to find out their addresses before the trip.

How to secure money on the road?

The most vulnerable and unreliable way to transport money is a wallet. If you lose it, then no one will recover the money. From this point of view, the plastic card has a number of advantages. In case of its theft or loss, you must call the bank with a request to block the card. And you need to do this as soon as possible so that scammers do not use the money.

Another problem often arises. The card is blocked and the person cannot withdraw money. After notifying the bank, up to 50% of the funds in the account will be transferred to the person through the money transfer system. The commission fee for this urgent service will be 10-35 percent of the transfer amount. In the best position are the holders of "platinum" cards, who are issued temporary plastic cards in a short period of time. All the rest, alas, risk being left without money abroad, since the card can only be restored upon returning home. In such a situation, you can ask for a loan from friends (unless, of course, there are any in a foreign city) or call home with a request to transfer money using a payment system.

The traveler's check occupies a leading position in terms of the safety of money.

Currency control requirements

As mentioned above, only the owner can cash a check, and this is quite enough to forget about the worries associated with money. And in case of loss of a traveler's check, it can be restored in any country free of charge within 24 hours. To do this, you just need to call the relevant service for the renewal of traveler's checks.

Transportation of money through customs

Customs can be the biggest difficulties associated with the export of money. From Russia, according to the law, it is allowed to take out the equivalent of no more than 10,000 dollars in cash. The amount of more than 10 thousand dollars can be taken out only if the person had previously brought this money into the country and filed a declaration. You also need to pay attention to the fact that if the amount exceeds $ 3,000, then it is subject to mandatory declaration.

In this case, a plastic card has advantages, since money can be transported on it at least how much and they do not need to be declared. It is also important to know in which countries there are restrictions on the amount withdrawn from a plastic card. For example, in Germany, you can withdraw no more than 1000 euros per day from the card. Similar limits apply in Austria and Switzerland. So before the trip, you need to check with the bank such details.

Traveler's checks are the best solution to problems at customs. With their help, you can carry an unlimited amount of money. And you need to declare checks only if the amount in the equivalent exceeds $ 10,000.

Of course, everyone chooses for himself the best, optimal way to transport money abroad. Someone prefers cash, because they do not want to get involved with the design of a plastic card. Someone believes that you need to transport money only in "plastic" in order to protect your savings from possible theft. And someone will buy traveler's checks and go on a trip with “nominal” money.

Almost every entrepreneur dreams of expanding their activities - to go beyond the boundaries of their own local shop. This can be the first step towards the formation of a new major brand and bring big revenues in the future.
Where to start and what should definitely be considered when expanding or transferring a business to another country?

Of course, the Internet has made it easier to grow and expand your own business, as it literally blurs the boundaries. However, a few words should be said about the advantage of opening a network of real branches in another country.

Undeniable benefits

Moving a business or its parts abroad provides a number of specific advantages, namely:

• lack of serious competition for someone who is an experienced businessman and a true professional;
• the possibility of a wide choice of necessary specialists in the labor market;
• advantages for business when choosing a certain region, taking into account its specifics;
• physical presence in the country and city allows you to establish more productive contact with the consumer;
• brand development and getting the opportunity to franchise your own brand.

So, the main advantages are revealed, and it is worth paying attention to the difficulties that moving to another country cannot do without.

Differences as disadvantages

First, the indisputable fact is the difference of cultures and acceptance of each other:

• the local population may not like the appearance of a "foreign" business in the territory where their own enterprises have long been formed and operate;
• to truly understand another culture, it is not enough to read a Wikipedia page or attend a few business trainings on cultural diversity. The process of forming a clear idea of ​​another country and adapting to a new environment takes a long time;
• economic and social ties, interaction with local authorities may not be as easy at first as one would like, especially in less stable regions.

The best solution in this situation may be your own presence - moving to the chosen city a few months before the final decision is made. Being directly on the spot, give yourself time to calmly orientate in what is happening. Talk to experts in your field, offer them a preliminary contract that will play into the hands of both parties: you will be able to evaluate the work of the candidates you have chosen, and they, in turn, will provide detailed information about the domestic market in which they are fully oriented.

The obvious solution, which will minimize the problems that arise due to cultural differences and possible negative attitudes towards your business, is to choose the "right" country. Other things being equal, it will be much easier for an entrepreneur from Ukraine to find mutual understanding and support in Poland than in Germany or Austria. A stable state that is a member of the European Union, the simplicity of the language and the general friendly attitude towards immigrants from Ukraine will make it easier for a newcomer to enter the European market.

Logistics and decentralization

It is also necessary to solve the issues of transportation and distribution of goods:

• How big will the move to the new location be? Will it be the whole firm or just part of the business?
• What is the best way to deliver all goods, equipment and other property to the destination?
• What are the systems of logistics and distribution of goods in the region?

All of these questions need to be answered before you make a final decision. You can settle into a new location fairly quickly, but if your understanding of these aspects is not fully formed in advance, you risk finding yourself with empty shelves in the store or not being able to deliver the goods on time to a customer who has already paid the bill and is looking forward to his purchase.

To avoid unnecessary problems, it is necessary to immediately pay attention to finding reliable partners among logistics companies that are successfully operating in the global market and will be able to provide the necessary support during the period of integration into the new environment.

Perhaps, when moving to a European country (for example, Poland), you don’t even have to change logistics partners - many companies successfully work in close markets. By choosing a country where business contacts with Ukraine have been established for a long time, you will save yourself from the role of a "pioneer" - after all, standard interaction schemes have been worked out and tested by generations of entrepreneurs.

Personnel issue

In addition to this, you should never forget things like culture shock and staff dispersion:

• your firm's headquarters may remain in its home country, so most of the team will not be involved in the move. However, by opening a foreign branch, you will establish work with new people - new members of your team. Most likely, this will lead to some problems in communication (for example, incorrect interpretations of cultural characteristics);
• moving for members of your team can be a serious stress, so you need to pay special attention to the adaptation of the team in a new place;
• the difference in time zones can also lead to some problems that will need to be addressed from the field of team management.

Make an effort to point the work of all teams in the right direction: contribute to the establishment of easy communication channels - live communication or communication on the Internet. Let people get to know each other.

Representatives of different, but mentally and culturally close nations find a common language much faster and easier than those who grew up in completely opposite environments. Thus, it is easier for a Ukrainian to understand a Czech or a Pole than a Chinese or an Australian. It is worth considering the general difference between cultures when choosing a country for moving and transferring a business. If the activities of your company are closely related to communications, perhaps the ideal choice would be a state with a culture as close as possible to Ukrainians.

When the risk is worth it

Moving a business or part of it abroad is a long process, during which an entrepreneur inevitably faces many problems, but their timely solution will fully reward the efforts of those who have decided to take this difficult step. Watching a business grow, develop and expand, reap the fruits of your labor - that's why it's worth making difficult decisions and going the hard way.

Communication with entrepreneurs who have thoroughly studied all aspects and difficulties of moving a business abroad on their own experience can also help in preparing for the move. Attendance at specialized trainings will also be useful. One of these events will take place in Kyiv on December 3. The business meeting "Entering the EU markets. Current trends. Creating and managing your own business in the EU" will also be held in Dnepropetrovsk (December 8) and Odessa (December 15).

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 markup 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, we should not forget that almost all EU member states are distinguished by stable tax laws, 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 authorized capital 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, a new company will cost 2000-3000 euros, and it will be able to start its activities in 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 a legal entity.

It is necessary to prepare the charter of the new enterprise (or use a standard template, as in Estonia), memorandum of association, protocol constituent assembly about setting up a 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 the constituent documents and the application, 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 availability of 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 the commercial 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 ready-made documents, and I got myself 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 on 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 state tenders and projects for European funds, where the support of local authorities is required.