[Armenia] What is the best way to open a company remotely and register bank account?

[DavidS]

Interested in opening a company with 1 EU shareholder and 1 RU shareholder in Armenia.

What is the best way to do this remotely?

Is it possible to do it remotely?

In which banks it would be easiest to open bank account remotely?

If impossible remotely, then travel is an option.

Company does IT business.
It won't have substance in Armenia.

 

[Martin Everson]

A CSP, accountant or lawyer in Armenia should be able to advise on this. Have you asked one?

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Don]

Yes company can be opened remotely with a power of attorney.
Bank account can be opened and maintained if you create a small substance only.
Happy to help with both.

 

[backpacker]

DavidS said:
Company does IT business.
It won't have substance in Armenia.
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Out of curiosity: Why Armenia?

 

[Marzio]

backpacker said:
Out of curiosity: Why Armenia?
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https://www.offshorecorptalk.com/th...creation-and-bank-accounts.38474/#post-226687

 

[DavidS]

Martin Everson said:
A CSP, accountant or lawyer in Armenia should be able to advise on this. Have you asked one?
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No, which ones youd recommend?

backpacker said:
Out of curiosity: Why Armenia?
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Any other suggestions? Needs to be RU friendly.

 

[Martin Everson]

DavidS said:
No, which ones youd recommend?
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Not for Armenia.

DavidS said:
In which banks it would be easiest to open bank account remotely?

If impossible remotely, then travel is an option.
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You can always use East West United Bank in Luxembourg. They open remotely in simple cases and are Russian friendly 😉 .

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[blizz]

Martin Everson said:
Not for Armenia.



You can always use East West United Bank in Luxembourg. They open remotely in simple cases and are Russian friendly 😉 .
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waow not bad, do you know if they require large amounts to be deposited.

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Be part of the elite, be Mentor Group Gold coo-:!y

 

[Martin Everson]

blizz said:
waow not bad, do you know if they require large amounts to be deposited.
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No minimum balance it seems. Check info below:

https://gsl.org/en/offshore/banks/east-west-united-bank-ewub/
P.S Just wonder whether in current hostile climate it still has its focus.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[DavidS]

Martin Everson said:
Not for Armenia.



You can always use East West United Bank in Luxembourg. They open remotely in simple cases and are Russian friendly 😉 .
Click to expand...

Do they only work with high net worth individuals? Need for a small IT company

 

[Martin Everson]

DavidS said:
Do they only work with high net worth individuals? Need for a small IT company
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It is best to speak to them directly about your personal situation.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Sols]

AFAIK, EWUB requires at least 500,000 EUR. Lower amounts accepted only as an exception for special cases.

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This is the probably the answer to your question.

 

[GeneralGogol]

Martin Everson said:
No minimum balance it seems. Check info below:
https://gsl.org/en/offshore/banks/east-west-united-bank-ewub/P.S Just wonder whether in current hostile climate it still has its focus.
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The bank is owned by Russians so could be safe to assume the focus is maintained.

 

[Martin Everson]

GeneralGogol said:
The bank is owned by Russians so could be safe to assume the focus is maintained.
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Thank for stating the obvious about ownership 🙄.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[blizz]

Martin Everson said:
No minimum balance it seems. Check info below:

https://gsl.org/en/offshore/banks/east-west-united-bank-ewub/
P.S Just wonder whether in current hostile climate it still has its focus.
Click to expand...

thank you, I contacted them Friday, will be waiting for them to respond if they do.

Sols said:
AFAIK, EWUB requires at least 500,000 EUR. Lower amounts accepted only as an exception for special cases.
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that's a game changer I have not 500K to be deposited 🙁

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Be part of the elite, be Mentor Group Gold coo-:!y

 

[bullhorn offshore]

Hello.
It is best not to do this in Armenia. If you didn't come from there.

 

[DavidS]

bullhorn offshore said:
Hello.
It is best not to do this in Armenia. If you didn't come from there.
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So what is your suggestion then? What alternatives are there?

 

[bullhorn offshore]

DavidS said:
So what is your suggestion then? What alternatives are there?
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If the company is engaged in IT, it is better to implement the business of Georgia. Taxation tends to zero, it is easier to get a business residence permit. Employees can be registered as individual entrepreneurs, and it will be up to 3% tax. I agree with the statement that it will be more difficult with banks than in Armenia, but there is no practice in Georgia to "include an additional tariff for the success of a business."
UAE will be convenient as well. This option will be much more expensive.

 

[Marzio]

bullhorn offshore said:
Employees can be registered as individual entrepreneurs, and it will be up to 3% tax
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Not really Why Some Freelancers DON'T Qualify For The 1% Tax Rate - Georgia (Country)

 

[backpacker]

bullhorn offshore said:
Employees can be registered as individual entrepreneurs, and it will be up to 3% tax.
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No! ban-:;