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Breaking: Upcoming important change that will require the reporting of the beneficial owner(s) of a US company in the future. If you own a US company, it is likely that you are directly affected by this reporting obligation. The Financial Crimes Enforcement Network (FinCEN) published a...

Mercury is keen on clarifying that you are running a legitimate operation. They want to see, that you have ties to the US (customer/suppliers), that you have a professional website or in case of an Amazon business can provide a sound sellers page. Mercury wants to make sure that you have social...

Did you try NEAT?

100% agree!

Made good experience in the Republic of Moldova and remote account opening.

Thanks for sharing! My clients were all EU citizens and residents. Did you open personal accounts, business accounts and with or without power of attorney?

After introducing clients to Georgian Banks for four years now, I would like to give an update of my personal experience with SOLO Bank (Bank of Georgia), TBC Bank and Tera Bank. While opening an account in person might still be possible, opening a personal bank account with a notarized and...

Just talked to my private banker at SOLO Bank. Can still open private accounts with a notarized passport copy, power of attorney and an apostille.

IB is doing it already, too.

You should do some research on the following topics management and control economic substance cfc rules beps aeoi and with 50-60k per year in revenue costs for substance e.g. a director´s salary and social security contributions might outnumber tax advantages easily.

500 € remote company formation (in case of a freezone formation additional charges apply) 500 € remote bank account opening (private or business with BOG/SOLO) 1000 € accounting p.a. 600 € registered office p.a.

I suppose you are using this structure to save taxes, right?

Have a look at inet cash and ccbill

Do you employ a local director for your company in Georgia or are you the director, residing in Germany?

Could help with that. Sure you can implement a lawyer or tax consultant, but also bear in mind that if that person is already involved in dozens of companies, that might be considered as a nominee director and cause a red flag in terms of economic substance for tax authorities looking up...

What´s your point and the correlation between 'less than 250K', (...) corruption and fraud,cheaters etc'.? Everybody can make a break even calculation to figure out, if it is worth it or not and you as an entrepreneur decide yourself with whom you are doing business. The only local...

It is not a requirement to hire an individual with romanian citizenship or residency. But the place of management and control might decide about where the company is taxable. It might be cheaper in your case but bear in mind, that many fiscal authorities around the globe require economical...

Sure, have a look at the fiscal code of Romania published by ANAF: https://static.anaf.ro/static/10/Anaf/legislatie/Cod_fiscal_norme_2018.htm#A52 Example Calculation based on the gross minimum wage in RON for an employee: Total Gross: 2,350 Social Insurance (25%): 588 Health Insurance (10%)...

Correct, there is no limitation for consultancy activities anymore and the tax for micro companies applies to the revenue, not the profit. You still can deduct business expenses but the effect will rather apply once you make profit distributions (dividends), the tax on the corporate level is...

Every SRL is considered a micro company, as long as the turnover does not exceed 1 million euro per tax year. This is outdated information. Also note: tax rate for a romanian micro company is 1% with at least one employee, which could be the director of the company - even when paid just the...