Armenia, Georgia, Hungary, Slovakia for company creation and bank accounts?

[Don]

DavidS said:
Thanks for all the great replies. So Armenia seems to be one of the best choices?
Or is Georgia better? The company wouldn't have office there, it would be remote.
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khinkali said:
Then half of the discussion is irrelevant.

Just go for UAE with a fake substance provider. Simple.
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Exactly. If you don't describe your activities, you can only expect very generic responses (naturally, mostly from service providers who promote the jurisdiction where they operate to win new clients)

 

[DavidS]

Company has IT activities (web dev and similar).

Looking for a friendly jurisdiction to Russians to open an IT company that can be operated remotely (does not need offices there). Need bank account too

 

[khinkali]

@DavidS the tax benefits for Georgian Virtual Zone only apply for work done on Georgian soil, similar to IP Box approaches in other areas.

Free zones are an option in Georgia, but banking is very hard (probably impossible for Georgian banks).

I would look into using an Armenian freezone for an IT company. Armenian banks don't like crypto but could work for what you describe.

 

[DavidS]

khinkali said:
@DavidS the tax benefits for Georgian Virtual Zone only apply for work done on Georgian soil, similar to IP Box approaches in other areas.

Free zones are an option in Georgia, but banking is very hard (probably impossible for Georgian banks).

I would look into using an Armenian freezone for an IT company. Armenian banks don't like crypto but could work for what you describe.
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Thanks, it's no crypto company. Just IT web dev work. Armenia sounds like most logical choice. Any offshore incorporation services you'd recommend in Armenia?

 

[Don]

khinkali said:
@DavidS the tax benefits for Georgian Virtual Zone only apply for work done on Georgian soil, similar to IP Box approaches in other areas.

Free zones are an option in Georgia, but banking is very hard (probably impossible for Georgian banks).

I would look into using an Armenian freezone for an IT company. Armenian banks don't like crypto but could work for what you describe.
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DavidS said:
Thanks, it's no crypto company. Just IT web dev work. Armenia sounds like most logical choice. Any offshore incorporation services you'd recommend in Armenia?
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I can agree.

We have offices in both Armenia and Georgia and, for the same reasons, would recommend Armenia. PM me for more.
Even in Armenia, it's not only about incorporation but you need some minimum substance for banking and tax purposes (e.g., Armenian resident director).

 

[khinkali]

@DavidS sorry no, other than Ecos Free Zone at Hrazdan seem keen and @Don above looks like he does exactly what you need.

 

[DavidS]

Don said:
I can agree.

We have offices in both Armenia and Georgia and, for the same reasons, would recommend Armenia. PM me for more.
Even in Armenia, it's not only about incorporation but you need some minimum substance for banking and tax purposes (e.g., Armenian resident director).
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I'd pm you, but I don't see such option on your profile. How to do it?

 

[Forester]

DavidS said:
I'd pm you, but I don't see such option on your profile. How to do it?
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AFAIK, to PM someone you must be either Silver Member or Mentor Group Gold/Light member. But you can try to write a post/message at @Don's profile asking him to start a conversation with you...

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