Registration of companies in various jurisdictions

The advantage of doing business through a legal entity is the possibility to organize the functioning of the project in a suitable way: to divide shares in the project, to secure the rights to the products created in the course of work on the project, to limit the liability of the founders, to choose a favorable taxation system and much more.

The service "Company registration in different jurisdictions" implies step-by-step support of all processes related to the incorporation.

Choice of jurisdiction and type of legal entity

First of all, it is necessary to decide on the jurisdiction where you plan to open a company.
We operate not only in Russia, but also abroad, in 53 jurisdictions around the world including:

• Russia;
• U.S.A;
• Hong Kong;
• Poland;
• Estonia;
• UAE;
• Cyprus;
• Georgia;
• Kazakhstan;
• Belarus;
• Cayman Islands;
• St. Vincent and the Grenadines;
• Bahrain;
• Curaçao;
• Seychelles;
• Singapore, etc.

The jurisdiction suitable for opening a company is determined after a detailed study of the project. We study various information: how many founders there will be, what country they are citizens/residents of, where employees live, where payments should be accepted from and other factors.

Then, based on "internal" factors, we individualize the conditions offered in a particular country, taking into account:

• time and convenience of the registration procedure itself (e.g., in some states, personal presence at a particular stage is mandatory);
• tax burden, including tax rates and exemptions;
• cost and convenience of maintaining a company;
• ability to make settlements (for example, if employees who are paid in fiat money live in Russia, it does not always make sense to register European companies, as it would be difficult to make payments).

Before starting a company, a suitable type of legal entity is determined according to the same principle. While for some clients it will be sufficient to register a limited liability company with a single founder, for others a joint-stock company with the distribution of shares in the project by means of shares will be a more suitable option.

Collecting and sending documents

The advantage is that the collection of documents for the client is usually done remotely by sending the scans of documents.

The package of documents differs depending on the type of company and the state where it will be opened. The following documents are usually prepared at this stage:

• articles of association;
• decision on incorporation, on the appointment of the director, on the legal address;
• identification documents for the founders;
• confirmation of the addresses of the founders;
• completed registration forms and other documents as required.

In most countries it is required to obtain an individual taxpayer identification number (TIN, European VAT number and other analogs) from the tax authorities. In Russia, such a number is assigned during the registration of an organization.

The agreed package is submitted to the Russian or a foreign authorized body.

Registration and receipt of its confirmation

After the information is entered into the state register, the client receives confirmation of successful registration of the legal entity.

Opening a bank account

To be able to accept and send payments, the organization shall open a bank account. It is allowed, for example, to open a company in one country and a bank account in another.

The creation of a foreign legal entity makes it possible to solve many problems arising for Russian business. In particular, it allows accumulating necessary resources abroad, accepting payments from counterparties around the world, successfully entering the international market, and removing currency control restrictions.

For support of establishing a legal entity, including turnkey, you can turn to GMT Legal lawyers, who support clients at all stages of the process: from the choice of jurisdiction to the receipt of constituent documents from the authorities.