Open a company in other countries

The financial services industry is the backbone of the Seychelles economy, including offshore banking services, offshore company formation, investment fund and insurance company registration, and more. Let’s explore key advantages of establishing a business in Seychelles, as well as how to get started.

1.1 Simple process

The procedure of establishing a business in Seychelles is among the simplest in the world. Seychelles International Business Companies (IBCs) are the most common business structure for non-residents in the country, and the process is relatively straightforward. It typically only takes 24 hours to incorporate a new IBC. English is the most often used business language. There is no requirement for up-front cash, and no-par stock value is accepted, therefore there is little financial commitment necessary.

1.2 High privacy and confidentiality for business

In Seychelles, your privacy is protected by law. Except for the founding business director’s identity and personal information, the identities of shareholders, additional directors, and beneficial owners are not maintained on public record. Seychelles is also an autonomous jurisdiction, which means it does not report or exchange data with other nations or organizations. Furthermore, the country is exempt from the EU Savings Tax Directive. As such, when it comes to the disclosure of information in Seychelles, there is virtually little political pressure.

1.3 Entity structure that is flexible

Seychelles allows a broad range of business structures. For IBCs, only one director and one shareholder are required, and they might be the same individual. There are no restrictions on nationality, and there is no need for a local director. Furthermore, as long as you keep your accounting records, there is no necessary tax filing or auditing. However, it is crucial to clarify that this only applies to IBCs that do not generate revenue in Seychelles. There is no requirement for an annual general meeting to take place in the country; doing so by phone or video is just fine.

According to a survey by the Global COVID-19 Index, Thailand was recently ranked first in the world among nations with the greatest Covid-19 recovery rate (GCI). This was made possible by the nation’s collective tight discipline and perseverance.

At 7.7 million square kilometers, Australia is the world’s sixth-largest country in the world. With a diverse population of 25.68 million (as of June 2020), the population and economy are only growing. As a point of comparison, yearly population increase was 1.3 percent last year (57.3% of which was due to net overseas migration). According to the Bureau of Statistics’ 2020 data, GDP increased by 3.3 percent in the September quarter, the fastest rate of growth since the March quarter of 1976

4.1 A prosperous market

According to the OECD Better Life Index, Australia ranks sixth in terms of average discretionary household income. This implies that, in comparison to many other places of the globe, there are more people spending money, which provides excellent business circumstances. With increased ability to spend, benefits such as government incentive programs (e.g., the substantial R&D Tax Incentive) and fair corporate tax rates ensue. The SME sector in Australia is highly strong because of its progressive tax system – where corporation tax is set to be decreased from 30% to 20% over the next decade.

4.2 A business and financial market that is well-regulated

The Australian Government undertook a substantial overhaul of the Corporations Act in 2001, simplifying regulation while preserving market integrity and investor safety. As a result, occurrences of fraud and other forms of corruption are rare, and businesses run quite smoothly.

4.3 A market that is politically and economically stable

Australia’s economy is extremely resilient, thanks to a relatively low budget deficit. The data provide witness to this continuous economy. Since 1990, the economy has risen at a rate of about 3.3 percent each year on average. This is accompanied with a modest inflation rate of about 2.5 percent throughout the same time period.

Japan is one of the world’s fastest expanding centers. In terms of Gross Domestic Product, it is rated second in Asia (GDP). In terms of global statistics, the country ranks third with the highest GDP. Company formation in Japan is a simple procedure. There are several advantages that entice investors. The country is prospering, with several prospects for foreign businesses to operate. Japan’s place in the global market has been won via technological and infrastructure development. Incentives are also provided by the government for international enterprises to set up shop in the country.

5.1 A gateway to Asia market

Japan not only has a captive audience of 127 million citizens, but it also has an exciting yet stable commercial sector that is open to trade and international investment. Globally competitive, particularly in the domains of environment, healthcare, information technology, and automobiles, Japan’s massive economy already has a well-established foundation of the world’s top corporations. Doing business in Japan also provides the opportunity to operate in the showroom for the rest of Asia.

5.2 A fantastic market to explore for product testing

Because Japanese society is wealthy and educated, conducting business in the country may provide you with more product testing chances than virtually anyplace else in the world. Japan’s household expenditure levels are now among the highest in the world. Your clients are well-educated in a variety of areas, so they grasp the distinction between high-performance and low-cost things. Most firms discover that introducing their products locally before heading to the United States or Europe yields greater results.

5.3 An ideal business location without double taxation

Japan has engaged in many types of double taxation treaties with foreign nations. There are around 90 similar agreements in place with different nations. As a result, if any type of Japanese investment must be repatriated to the home nation, these double taxation treaties would provide effective protection against being taxed twice. This immediately reduces the amount of withholding tax.

With the enormous economic changes implemented in the 1990s, Vietnam transitioned from a predominantly rural economy to today’s market-based and industrial technology-based economy. This has not only significantly increased people’s income, but it has also significantly improved people’s quality of life. Many international investors have also landed on this wealthy area and successfully incorporated their enterprises in Vietnam.

6.1 A fast-growing economy as well as a potentially lucrative market

In its Doing Business 2020 report, the World Bank placed Vietnam 70th out of 190 economies. Vietnam had a score of 69.8 from the World Bank, 1.44 points better than the previous year.

The procedure of paying taxes is an important area for improvement. The General Department of Taxation in Vietnam improved its IT infrastructure. As a result, firms may now settle taxes considerably more quickly than previously. Investors may anticipate additional improvements in the ease of doing business in Vietnam. This is especially true when the government continues to simplify procedures.

6.2 Openness to foreign investment

Foreign ownership in specific industries is restricted in many emerging economies. However, in Vietnam, the majority of industries welcome foreign direct investment (FDI). Regulations were also changed by the government. Incentives for foreign investment have also been put in place by the government. Examples of such incentives include:

• Lower corporate income tax rates or exemptions from taxation for a variety of industries
• Import duty exemption for specified commodities such as raw materials
• Land rental or land use taxes are reduced or eliminated.

Investors can take advantage of the aforementioned benefits by investing in favored industries. The Vietnamese government also provides incentives to enterprises that establish themselves in specific areas. Our advisors can assist you on how to maximize the incentives available to investors. Contact Emerhub and we will assist you in establishing your business in Vietnam.

6.3 Potential market for trading development

Trade agreements Vietnam has a number of trade agreements that make doing business in Vietnam simple. These trade treaties also help the country’s economy thrive. Certain trade treaties, such as those negotiated by the World Trade Organization, make it simpler for foreign investors to establish enterprises in Vietnam. Tariff reductions are also available through trade agreements, such as the Free Trade Agreement with the European Union.

Other trade agreements and pertinent affiliations include, among others, the following:

• ASEAN member and ASEAN Free Trade Zone participant (AFTA)
• Bilateral Trade Agreement (BTA) with the Trans-Pacific Partnership (TPP) of the United States (TPP)
• Japan Free Trade Agreement
• Korea Free Trade Agreement

Whether you are intending to extend your business overseas or start a new endeavor in a foreign country, the first and main consideration should be the legal component such as registering a company abroad. Knowing the rules and regulations is the best way to avoid future legal problems.

In terms of requirements, let’s look at what you’ll need from a legal standpoint while establishing a business in another nation.

7.1 Residency requirements for establishing a company in a different nation

Some nations demand a resident visa, if not for the company’s owner, then for the company’s director or directors. Instead of relocating someone there, a local representative might also be selected because it is the cheapest and easiest choice.

7.2 Documentation requirements for establishing a corporation

The most crucial and time-consuming part of beginning a business in another nation is preparing the documentation that the authorities require. Preparing documentation typically entails:

• Translating and notarizing your passport;
• Preparing and notarizing the company’s documentation, known as Articles of Association, using an online notary service; and
• Establishing a business address in that nation.

You will also be required to fill out various forms provided by the authorities. That’s why Global Link Incorporation is here to make things easier.

7.3 Requirements for Post-Registration

There are a few additional procedures to perform once the company is registered and ready to operate. These stages include registering with the tax authorities in the individual nation to receive tax identity and VAT numbers, as well as registering personnel, including directors, for social security, healthcare, and pension reasons. In terms of these, Global Link Incorporation would support you with all-in-one solutions for the smooth operation of your business.

Requesting assistance is a great option if your business concept is more ostentatious, and you won’t experience any difficulty getting started. Consulting a professional business partner like Global Link Incorporation with experience in creating new firms in your preferred nation may save you time and money.

With years of experience supporting numerous clients from many sectors, from startups to MNCs, Global Link Incorporation has established a lean procedure to assist foreign business owners in opening a company in another country:

1. Consult with our experts to choose your ideal destination: Before you begin your business overseas, you must decide where you wish to start. We can support you to analyze the country’s economic and political stability before relocating your international business there.
2. Choose a company structure: After picking the optimal nation for your business, Global Link Incorporation will assist you in determining the best business structure for your needs. Because not every company structure is appropriate for every business, it is critical to acquire expert advice from an experienced business attorney so that you understand all of the consequences of your decision and can achieve your objectives.
3. Create and register a business name: The rules for company names may differ based on the laws of each nation. However, international company owners should be aware of the following requirements:

• The company name must be unique.
• It must not include any disparaging or obscene language.
• It cannot imply that the firm has the backing of the government.

4. Register a legal address: Once you’ve decided on your business structure and scope, you’ll need to choose a location in a foreign country and register your company’s legal address (your operating offices might be anywhere in the world). Global Link Incorporation will assist you in obtaining this legal address.

5. Submit the following documents for business registration: Global Link Incorporation can assist you in preparing and reviewing all essential paperwork before submitting them to the Belize regulatory body.