Georgia is Awaiting! Form YOUR Company Here Online

Psoted on: August 4, 2021 at 6:36 am, in

Overview: 

  • Georgia has a steadily growing economy and a stable banking system; 
  • Businesses in Georgia do not pay capital gains tax; 
  • The Georgian government has signed free trade agreements with 45 countries, including 20+ EU countries, China, Hong Kong, and others; 
  • The country’s location between Europe and Asia makes it an important transit route for goods to and from the two continents; 
  • There are advantageous conditions for business establishment in Georgia; 
  • The state has signed double taxation avoidance agreements (DTAs) with more than 50 countries, including the UK, Germany, India, China, and others; 
  • There are no currency controls in Georgia; 
  • Clevver supports remote LLC company registration in Georgia. The documentation on incorporation is accessible digitally. 

Georgia occupies a strategic location between Europe and Asia. In terms of trade and commerce, this has enabled the country to become an important transit hub for goods transported back and forth between the two continents. 

Just before the early 2000s, Georgia was not particularly attractive to global investors and did not have a strong market economy. The rapid breakthrough towards the introduction of a market economy and international best practices of doing business took place in the period from 2004 to 2007. Ever since the country government hasn’t stopped the implementation of reforms to encourage foreign entrepreneurs to do business in this jurisdiction. Their work was more than fruitful because the results speak for themselves. Georgia today is a country that according to the World Bank’s Ease of Doing Business 2020 report, is ranked 7th (with a score of 83.7) among the countries where it is profitable to start a business. 

Clevver assists in opening an LLC in Georgia online and presents a full set of digital documents upon completion of the incorporation process. We provide our services remotely, which means you do not need to travel to Georgia to register a company there. Find more info about forming a business in this jurisdiction here

Taxation in Georgia 

Georgia’s taxation system is one of the strengths of the jurisdiction. Its simplicity, clarity, and loyalty promote business development. Here are the main taxes that the companies in Georgia must pay: 

  • According to a regulation that came into force in Georgia on January 1, 2017, legal entities may not pay corporate tax on profits if the funds are reinvested in business development. Corporate tax on distributed profits flat rate is 15%
  • The tax on dividends is 5%. 
  • The standard rate of Value added tax for business entities is 18%. Only those goods and services delivered and rendered on the territory of Georgia are subject to VAT. 

Why Incorporate in Georgia 

The Georgian government has done a great job in transforming this country from a haggard post-USSR republic into a strong player in the international business arena. At the moment, registering a company in Georgia promises significant benefits to foreign entrepreneurs and we are 100% ready to help with the formation of YOUR organization on Georgian soil. 

Build up your Georgian business easily, quickly, and digitally — reach out to the experts of Clevver and we’ll give you the assistance you need. 

CHOOSE CLEVVER TEAM TO RECEIVE:  

  • Assistance from highly skilled specialists;   
  • Remote support from Clevver; 
  • A full package of documents on the business entity registration in a digital format; 
  • Constant customer support and individual approach to each client. 

Bottom Line 

At present, the government of Georgia is succeeding in the development and implementation of effective reforms pointed to enhance the investment attractiveness of the country in the international arena. Therefore, today, a large number of foreign entrepreneurs are striving to open a company here.

Clevver will gladly assist you in the incorporation of a business in this jurisdiction. With us, you can start your business in Georgia remotely, your presence is not required. To begin the company formation right now click here.

DISCLOSURE NOTICE: Any legal or tax advice in this communication (including any attachments) is for information purposes only and is not intended to be used, and cannot be used against Clevver or its Sender. The sender is neither an Accountant nor a Lawyer and cannot be made liable. Please, contact your tax accountant for individual consultation. Clevver does not provide any legal advice itself. Clevver works together with a network of lawyers and tax advisors that provide all necessary individual legal advice.


Form Your Company in the British Virgin Islands (BVI) Online

Psoted on: June 25, 2021 at 8:20 am, in

Go Global with Clevver Hand

Overview: 

  • The BVI is one of the most prestigious tax havens in the world; 
  • There are practically no substantial tax burdens on the companies incorporated in the jurisdiction;
  • There are no reporting requirements to government agencies and mandatory auditing for BVI companies; 
  • There are no exchange controls in the British Virgin Islands;  
  • Clevver offers support for the remote company registration in the BVI. All documentation on incorporation is accessible digitally. 

The British Virgin Islands are one of the most popular places to start an offshore business. The islands are a British overseas territory in the Caribbean. This is an important advantage for foreign investors because English is the main (official) language here. The two most important areas of business are tourism and financial services. The latter is primarily supported by a large number of companies registered in the BVI. 

For many years, among the many tax havens, entrepreneurs around the world choose the British Virgin Islands (BVI) to strengthen and develop their international activities. This territory stipulates low state fees in exchange for practically an absence of taxation and preparation of the financial statements. 

Nonexistence of income tax and loyal legislation — that is, in the first place, what attracts businessmen to the British Virgin Islands. BVI holds leading positions and remains one of the most profitable company registration destinations globally, despite the fierce competition. The process of the company set up in the British Virgin Islands with Clevver hand is simple and completely remote. Learn details here

Basic Characteristics of Business Companies (BCs) of the BVI 

  • BVI companies currently have a single status — Business Companies (BCs). As amended, the BVI Business Companies Act, 2004, governs the incorporation and operation of such companies. 
  • Companies may conduct any lawful business activity. Some activities require a special license (e.g., banking and fiduciary services, insurance, investment funds, activities as registration agents, etc.). 
  • BVI companies may open accounts with local banks, rent an office, use professional services, keep accounts and hold meetings of shareholders and directors in the islands. However, trading activities or real estate purchasing directly in the BVI territory by non-residents companies may require appropriate licenses and permits.
  • The company name can be anything, except for the names of previously registered firms or very similar to them. It must contain an indication of its legal form (most often it is “Ltd.”). 
  • Companies must have a registered office and a registration agent in the BVI. 
  • Shareholders of a company may be individuals or legal entities of any residency. 
  • There is no minimum amount of authorized/paid-up share capital.  
  • The company must have at least one director (natural person or legal entity of any residency). Meetings of the directors can be held at any location and any frequency. 
  • Companies must have a corporate seal. An impression of the seal must be kept in the office of the registration agent. 

Taxation and Payments 

Commercial BVI companies are exempt from paying taxes, regardless of the source of income. Only an annual fee (duty) is mandatory — US$450 where the authorized number of shares is less than or equal to 50,000 and US$1,200 where the authorized number of shares is more than 50,000. Failure to pay this fee by the due date results in penalties on the amount owed, and then deletion of the company from the register. However, if the fee and penalties are paid, the company may be restored to the register. 

In BVI, there is NO: 

  • Capital gains tax;
  • Gift tax; 
  • Sales tax or value-added tax; 
  • Profit tax; 
  • Inheritance tax or estate duty; 
  • Corporation tax. 

There are no reporting requirements to government agencies and mandatory auditing for BVI companies. However, BVIBCs are required by law to keep records of financial transactions and all related accounting documents at the registered address/registration agent of the organization. 

Incorporation in the BVI  

Clevver experts will help register a company in the British Virgin Islands remotely. We provide the necessary organizational support in the process of opening your business.

APPLY TO RECEIVE:  

  • The help of the highly-qualified specialists;
  • Online support from Clevver;  
  • An essential set of legal papers on the company incorporation in a digital format;  
  • Great add-ons (additional shareholder, company secretary, registered office address);  
  • Consistent customer support and individual approach to each client. 

Conclusion 

A company in the BVI is not subject to income tax, has no requirements for the minimum authorized capital, its reports are filed only at the request of the Department of Financial Services. All this allows the BVI to occupy a leading place in the list of most popular jurisdictions for the registration of offshore companies. 

Form your BVIBC Ltd. remotely, quickly, and without unnecessary hassle! The Clevver team will help you register a BC in the BVI, click here for more information! 

DISCLOSURE NOTICE: Any legal or tax advice in this communication (including any attachments) is for information purposes only and is not intended to be used, and cannot be used against Clevver or its Sender. The sender is neither an Accountant nor a Lawyer and cannot be made liable. Please, contact your tax accountant for individual consultation. Clevver does not provide any legal advice itself. Clevver works together with a network of lawyers and tax advisors that provide all necessary individual legal advice.


Incorporate in Canada Remotely

Psoted on: June 22, 2021 at 8:14 am, in

Overview:

  • Canada is one of the G7 nations with the most promising economic conditions for investment. Canada’s financial situation is noted as the most stable of the G7 countries;
  • Canada’s legislation is flexible and in line with all modern realities;
  • Non-resident companies pay tax only on profits generated in Canada;
  • Canada has signed more than 100 double taxation treaties;
  • Building a business in Canada provides access to the North American market.
  • Clevver helps with online company registration in Canada, which does not require the physical presence of the owner. All legal documents are provided digitally.

Canada is one of the most attractive and prestigious jurisdictions for doing business. The simplicity and organicity of the laws and the government’s interest in attracting experienced foreign entrepreneurs have resulted in a stable economy and a high level of infrastructure.

Canada is one of the richest countries in the world with a high per capita income. In addition to being a member of the Organization for Economic Cooperation and Development (OECD) and the G7, NATO, WTO, Commonwealth of Nations Francophonie, OAS, APEC, and UN, this country is rightfully among the ten largest trading nations in the world. Your business will be offered good taxation conditions, and the reputation of the country as such will not make anyone question the legitimacy of the business.

With Clevver’s assistance, the formation of a business entity in Canada will take place quickly, in compliance with all mandatory procedures and requirements. Learn more here.

Taxation in Canada

According to international researchers, Canada has one of the lowest business tax burdens of all G7 countries. A transparent taxation system and many options of fiscal optimization together provide favorable conditions for entrepreneurs wishing to do business in this country.

Canada has a three-level system of taxation: taxes are federal, provincial, and territorial (or local) and therefore general tax rates are different in each province. Also, much depends on the type of activity and turnover of the company.

  • The basic federal corporate income tax rate is 38%, 28% after federal tax abatement. After the general tax reduction, the net tax rate is 15%, declares the Government of Canada‘s website.
  • The provincial corporate income tax is levied in the provinces at different rates, which range from 8 to 16%.
  • Sales Tax (VAT) – GST (Goods and Services Tax) / HST (Harmonized Sales Tax) the federal rate of 5% plus the provincial rate from 0 to 15%.

Benefits of Setting up a Business in Canada 

Those wishing to start a business in Canada observe a huge number of prospects and positive factors leading to business success:

  • A huge number of government programs to attract and support foreign investors;
  • Economic and financial stability;
  • The sufficient level of technology;
  • The ideal infrastructure;
  • A stable economy;
  • The powerful legal system;
  • High level of education;
  • Skilled labor force;
  • Absence of corruption and bureaucracy.

Registration of a Canadian Business Entity 

High level of technology development, economic and financial stability, effective tax system, fair courts — these are only a few of advantages for doing business in Canada.

Have you already decided to open up a business in Canada? Clevver specialists will readily assist you in the Canadian company formation once you’ve applied to us and all is clear on both sides. 

WHAT WE OFFER: 

  • The assistance of the well-versed specialists;   
  • The remote process of cooperation with Clevver;   
  • A complete package of legal documentation on the company registration in a digital format;   
  • Possibility to obtain numerous extra to business incorporation services in Canada (a registered address, mail-handling service, and a local phone number);
  • Constant customer support and individual approach to each client. 

Final Thoughts

Registering a company in Canada is one of the most promising solutions for entrepreneurs who want to open a business in North America. The country is rightfully recognized as one of the most developed and richest nations in the world and is also on the “white list” of the Organization for Economic Cooperation and Development.

If you wish to incorporate a company in Canada remotely, Clevver specialists can provide you with the necessary support for the business’s establishment. To start your company formation process in Canada, contact us now.

DISCLOSURE NOTICE: Any legal or tax advice in this communication (including any attachments) is for information purposes only and is not intended to be used, and cannot be used against Clevver or its Sender. The sender is neither an Accountant nor a Lawyer and cannot be made liable. Please, contact your tax accountant for individual consultation. Clevver does not provide any legal advice itself. Clevver works together with a network of lawyers and tax advisors that provide all necessary individual legal advice.


Build up Your Business in Singapore Online

Psoted on: June 11, 2021 at 9:35 am, in

Overview: 

  • Singapore is the financial center of Asia; 
  • The country has the most business-friendly ecosystem with minimal bureaucracy; 
  • Singapore is a respectable jurisdiction with a positive attitude to the crypto business. The government does not restrict but encourages crypto projects;
  • The country’s stable economy and sound banking system ensure the efficiency of long-term investments and capital protection; 
  • There are no restrictions on the free movement of capital in foreign currencies in Singapore as there are, for example, in India or China. 
  • Clevver provides support for a simple online company registration in the jurisdiction of Singapore that does not require the physical presence of the owner.

Singapore is characterized by financial stability and loyal legislation, thanks to which non-residents from different countries can establish a business in the country without unnecessary bureaucratic delays. 

Many companies aspire to have a representative office in Singapore, one of the largest financial centers in the world. It is an important step on the way to building a profitable business on an international scale for foreign entrepreneurs. After all, they get more opportunities to build relationships with business partners and banking institutions. 

Clevver specialists take care of all organizational issues and provide a full package of documents upon the completion of the company incorporation. No personal presence is required to open a business in Singapore — with Clevver hand, you can form a company remotely and get all the necessary legal papers digitally. Learn more about starting a business in Singapore here

Taxation in Singapore 

  1. If a company is deemed resident, conducts business with local partners or consumers, and transfers profits to local bank accounts, it is obliged to pay 17% corporate tax on income. Income tax is not charged on those businesses in Singapore that operate with other countries. Also, income tax does not apply to: 
  • investments of foreign origin;
  • funds that have not been transferred to local bank accounts; 
  • funds that are not used to purchase (rent) property in Singapore. 

Such companies are equated to offshore, and since they can only generate income abroad, accordingly, its income is not taxed. 

  1. Value Added Tax in Singapore is only 7%, one of the lowest in the world. 
  2. The tax on dividends is 0%. In Singapore, there is no tax on dividends received from a company registered in Singapore, thus entrepreneurs can distribute profits after payment of all corporate taxes while paying income tax solely in the country of residence. 

Each company is obliged to keep accounting records of funds and report on the turnover to the relevant services of the country. 

Auditing is mandatory for all except small companies. Singapore has signed double taxation prevention agreements with almost 80 countries around the world. 

The absence of exchange controls allows transactions in any amount without the conversion of funds. 

Incorporation in Singapore  

Singapore is one of the Four Asian Tigers, which means that the jurisdiction has an advanced economy, a high level of technological development, and a favorable business environment. The country is known for its positive attitude to the crypto business. 

Clevver experts will help register a company in Singapore remotely, time-efficiently, and save you from procedural and registration hassles on the way. 

APPLY TO OBTAIN:  

  • The quality assistance of the highly-skilled specialists;  
  • Online procedure of cooperation with Clevver;  
  • An essential set of documentation on the company formation in a digital format;
  • Possibility to receive many extra to business incorporation services in Singapore (a registered address, mail-handling service, and a local number); 
  • Consistent customer support and individual approach to each client. 

Conclusion

Company registration in Singapore can bring great benefits to the founder, including the possibility of expanding the business throughout the Asian market. In addition, Singapore is one of the most tax-friendly jurisdictions in the world. We will be happy to help you form a Pte Ltd. company in Singapore, to start the incorporation process in this jurisdiction right now click here!

DISCLOSURE NOTICE: Any legal or tax advice in this communication (including any attachments) is for information purposes only and is not intended to be used, and cannot be used against Clevver or its Sender. The sender is neither an Accountant nor a Lawyer and cannot be made liable. Please, contact your tax accountant for individual consultation. Clevver does not provide any legal advice itself. Clevver works together with a network of lawyers and tax advisors that provide all necessary individual legal advice.


Company Incorporation in Estonia Remotely

Psoted on: June 3, 2021 at 6:31 am, in

Overview:

  • Estonia is a part of the European Union;
  • The country has one of the lowest levels of corruption;
  • Estonia has a developed banking system;
  • The state is a member of the OECD;
  • Estonia is ICO loyal country with progressive legislation;
  • The country has a beneficial geographical position and well-developed logistics infrastructure;
  • The Republic of Estonia has signed double taxation agreements with more than 60 countries;
  • Clevver offers assistance in the registration of companies in Estonia remotely, providing customers with comprehensive organizational support.

Estonia is a jurisdiction that allows doing business online, thanks to the active development of information technology and the introduction of electronic services in the sector of public services. Among the countries of Central and Eastern Europe, Estonia occupies one of the first places by the level of attraction of foreign investments, as well as by investments abroad per capita. The main trade partners of the country are Germany, Sweden, Finland, and Russia.

Entrepreneurs have long appreciated the innovative fin-tech legislation, attractive tax rates, and the market opportunities offered by this jurisdiction. A company registered in Estonia, including one founded by non-residents, can trade with EU partners on great terms, be engaged in the cryptocurrency business (Estonia is an ICO-friendly country), etc.

The country, a full member of the European Union, has signed double taxation treaties with more than 60 countries, including the United States and Great Britain.

Online company registration in Estonia with Clevver hand is an advanced and secure procedure that allows entrepreneurs to register a business in Estonia remotely and in the shortest possible time. Contact us for details here.

Taxation in Estonia

The main taxes that an Estonian company must pay are:

  • Income tax. The main tax that Estonian companies have to pay is the income tax. A peculiarity of taxation in Estonia is that only the distributed profits of a company are taxed. The basic rate of tax on distributed profits is 20%.

An Estonian company must pay tax on distributed profits, on non-business-related income and payments, as well as on gifts, donations, expenses for receptions, and special benefits given to its employees (if any).

  • Dividends are not subject to income tax if the latter is paid on the basis of the distribution of profits or the dividend is withheld abroad.
  • VAT. The Estonian Value Added Tax (VAT) basic rate is 20%. Books, medicines, and some services are taxed at a reduced rate of 9%. There is a zero VAT rate for exporting various goods and services from Estonia, as well as for postal, medical, insurance, and international transport services.

Obligatory receipt of VAT number is stipulated by the legislation of the country if the capital turnover of the company is more than 40,000 Euros.

Formation of an Estonian Company

Economic stability, investment security, and developed banking systems attract many investors wishing to open a company in the Republic of Estonia to do business and use the mechanisms of avoidance of double taxation. 

Clevver specialists will readily support your Estonian company formation once you’ve applied to us and all is clear on both sides.

WHY CHOOSE CLEVVER: 

  • The assistance of the highly qualified experts;   
  • The online process of cooperation with Clevver;   
  • A complete package of documentation on the company registration in a digital format;   
  • Opportunity to obtain numerous extra to business incorporation services in Estonia (registered address, mail-handling service, and a local phone number); 
  • Constant customer support and individual approach to each client.

Bottom Line

Estonia is an extremely advantageous European jurisdiction for creating and doing business. It is a state with one of the most attractive investment climates among European countries. Company registration in Estonia has a number of advantages, which are successfully used by entrepreneurs from all over the world, who wish to do business in the prestigious European jurisdiction. For detailed information on Estonian company registration, please, click here. With our help, registering a company in Estonia for non-residents is not difficult: the requirements for registration are minimal, and the procedure itself is simple and straightforward.

DISCLOSURE NOTICE: Any legal or tax advice in this communication (including any attachments) is for information purposes only and is not intended to be used, and cannot be used against Clevver or its Sender. The sender is neither an Accountant nor a Lawyer and cannot be made liable. Please, contact your tax accountant for individual consultation. Clevver does not provide any legal advice itself. Clevver works together with a network of lawyers and tax advisors that provide all necessary individual legal advice.


Do Business on the Best Terms — Incorporate in Switzerland

Psoted on: April 29, 2021 at 9:28 am, in

Overview: 

  • Switzerland manages almost 35% of international private and institutional funds and is renowned for its political, economic, and social stability; 
  • Switzerland provides an unsurpassed infrastructure for companies operating in the greater European area; 
  • The country is well-known worldwide for its stable financial system;
  • The Swiss Confederation pursues a policy of moderate taxation of businesses; 
  • The country is an attractive tax haven; 
  • Clevver experts provide fully digital assistance in incorporating AG/GmbH in Switzerland. 

Switzerland, the official name is the Swiss Confederation, is a state located in the very heart of Europe with four official languages and a federal structure (26 cantons). Switzerland is distinguished by its amazingly beautiful nature, high production technologies, and stable financial system, which allows the state to remain a neutral country (it is not a member of the EU or any military organization). Developed infrastructure, political and economic stability, in addition to a low level of taxation, are conducive to opening a company here. Also, Switzerland is a very attractive tax haven.  

Legislation 

The Civil Code and the Code of Obligations are the statutory documents that govern every organization that is interested in incorporation in Switzerland.  

Swiss Banking System  

Banking in Switzerland is respected and in awe of the world for its quality and guaranteed confidentiality. Since the beginning of the 20th century, this country has provided financial stability and the opportunity to develop business. The entrepreneurs here are able to pay fewer taxes in comparison to other developed countries. 

Taxation

Switzerland has a three-tier taxation system: there are federal, cantonal, and municipal taxes. At the same time, each canton has its own tax legislation and has the right to independently establish the amount of taxes and tax benefits.  

Federal tax — 8.5%. Cantonal taxes are higher and often depend on the ratio of profits to capital and the reserve fund — 6-31%.  

Withholding taxes:

  • Dividends — 35%  
  • Interest — 35%
  • Royalty — 0%  
  • Branch payments — 0%  

VAT — 7.6%  

Capital tax:  

  • Federal — 0%  
  • Cantonal/municipal — 0.3-1.3%  

Some cantons, such as Zug, establish a privileged taxation system, which can be used when choosing the place of company registration. Zug is also called the tax haven of Switzerland. Other cantons acceptable for the company incorporation are Graubünden, St. Gallen, Schwyz.  

Switzerland has signed treaties for the avoidance of double taxation with more than 70 countries, which makes it the perfect destination for everybody seeking to expand their business. 

Why Incorporate in Switzerland? 

At Clevver, we support you in the business registration process from start to finish. Incorporating a business in Switzerland with our help is fast, remote, and takes little effort from your side. Learn more about business registration in Switzerland with Clevver’s assistance. 

What we offer: 

  • A fully remote support for a legal structure formation; 
  • Digital availability of all the documentation for business registration; 
  • Fast processing for the incorporation service in Switzerland; 
  • Responsive customer support with an individual approach to each client. 

Clevver offers help to make business start-ups easy.

Summary  

When registering a company in Switzerland, it should be kept in mind that Swiss legislation is three-tier (federal, cantonal, and municipal), and taxation may differ significantly at the local level. With Clevver’s help, you can register a company in Geneva and Zurich. 

Clevver specialists will gladly provide you with support for the incorporation of an AG/GmbH company in Switzerland. You can apply here.

DISCLOSURE NOTICE: Any legal or tax advice in this communication (including any attachments) is for information purposes only and is not intended to be used, and cannot be used against Clevver or its Sender. The sender is neither an Accountant nor a Lawyer and cannot be made liable. Please, contact your tax accountant for individual consultation. Clevver does not provide any legal advice itself. Clevver works together with a network of lawyers and tax advisors that provide all necessary individual legal advice.


Remote Incorporation in the United Kingdom

Psoted on: April 27, 2021 at 9:42 am, in

Overview:

  • Highly competitive British markets for goods and services create unique opportunities for the development of your business.
  • There are significant tax benefits throughout the country, which allows you to reduce the operating costs of the business.  
  • The level of tax on company income received in the UK is one of the lowest among European states. 
  • UK laws are simple and transparent and there is almost no corruption in the country. 
  • Minimal government intervention and ease of doing business. In some cases, you can get government support for your business in the UK. 
  • The procedure of opening a company in the United Kingdom with Clevver’s support is quick, fully remote, and logically consistent. All documentation on incorporation is available in digital format.

Great Britain is one of the recognized business and cultural centers of the modern world. Therefore, it is prestigious to open a business in England. Such a company, as a rule, requires the respect of partners and is trusted by investors. 

The United Kingdom consists of four jurisdictions: England, Wales, Scotland, and Northern Ireland. Each company that is located in one of these countries has its own advantages. 

In the UK, the most commonly used organizational and legal forms of companies are as follows: 

  • Private Limited Company based on shares — LTD. 
  • Limited Liability Partnership — LLP. 

It is possible to form any of these business entity types with Clevver help. Сlevver specialists will assist with the incorporation of your company in the UK. We are ready to provide additional services for the successful functioning and development of your business in Western Europe on request. Learn more here

Taxation in the United Kingdom 

Taxation of companies in the UK is based on the principle of territoriality: resident organizations are taxed on all profits and registered non-resident firms in the UK — only on income earned in Britain. The main taxes businesses pay in Great Britain are: 

  • Corporate income tax is 19%. 
  • The amount of tax on dividends can be basic (7.5%), high (32.5%), and additional (38.1%)
  • VAT — 20% (for certain goods/services a reduced rate of 5% or zero rates applies). 

If a company does business in the UK or with organizations from the EU member states, it may be required to register as a VAT payer. Obtaining a VAT number is compulsory if the company’s annual turnover is more than £85,000. In other cases, registration as a VAT payer may be voluntary, with the provision of contact details of business partners, contracts, and invoices as evidence of the intention to achieve the required level of annual turnover in the near future.  

When opening a company in the UK and acquiring a VAT number, a quarterly report on your business must be filed. If a zero report is filed for several reporting periods, the company may be removed from the VAT register and you will have to re-register. Clevver’s specialists can help with the VAT registration of your business in the UK at your request. 

Britain has signed agreements with more than 130 countries to avoid double taxation for businesses. 

Registration of a British Business Entity 

The advanced economy, ever-growing market, and one of the world’s most developed banking systems attract many investors wishing to open a company in the UK to do business and use the mechanisms of avoidance of double taxation. 

Clevver specialists will readily help with your British company formation once you’ve applied to us and all is clear on both sides. 

WHAT WE OFFER: 

  • The assistance of the highly qualified experts;   
  • The online process of cooperation with Clevver;   
  • A complete package of documentation on the company registration in a digital format;   
  • Opportunity to obtain numerous extra to business incorporation services in Great Britain (registered address, mail-handling service, and a local phone number); 
  • Constant customer support and individual approach to each client;
  • Pricing for the company incorporation service starts from €129. 

Final Thoughts 

Registering a company in the United Kingdom will allow you to develop your business in one of the richest countries in the world. Despite the ending up the membership in the European Union, one of the important advantages of setting up a business in this jurisdiction is the preservation and maintenance by the UK of broad global ties in all sectors of economic and banking activities with the countries – former colonies of the British Empire, the Commonwealth States, and the Dominions, formally maintaining dependence on Great Britain.

Due to Brexit, the British economy does not depend anymore on EU decisions, which opens up new opportunities for your business. To start a business in the UK just contact us, we will take care of all the organizational aspects of incorporation in this country, you will not have to worry about anything. You can apply right now.

DISCLOSURE NOTICE: Any legal or tax advice in this communication (including any attachments) is for information purposes only and is not intended to be used, and cannot be used against Clevver or its Sender. The sender is neither an Accountant nor a Lawyer and cannot be made liable. Please, contact your tax accountant for individual consultation. Clevver does not provide any legal advice itself. Clevver works together with a network of lawyers and tax advisors that provide all necessary individual legal advice.


Set up a Business in Cyprus

Psoted on: April 16, 2021 at 9:21 am, in

-REMOTELY WITH CLEVVER’S SUPPORT-

Overview:

  • Cyprus is a full member of the European Union which provides for the possibility of cooperation with any European business partners on beneficial conditions; 
  • The country has one of the lowest corporate tax rates in Europe — only 12.5% on net profit;
  • The jurisdiction of Cyprus has signed a large number of double taxation treaties, more than 50 with other countries; 
  • Cyprus is one of the most profitable EU jurisdictions for ICOs, thanks to its legal framework and flexible tax laws; 
  • There are no exchange controls in Cyprus; 
  • Clevver offers support for the remote company registration in Cyprus. All documentation on incorporation is available in digital format.

The Republic of Cyprus, an island member state of the European Union, is located at the eastern end of the Mediterranean Sea. It has an open market economy with positive growth dynamics dominated by the services sector, mainly including financial services, tourism, and real estate. 

Cyprus is one of the most popular places in Europe for company registration. The combination of favorable tax laws, simple corporate legislation, and the country’s stable tax policies has resulted in Cyprus becoming an attractive jurisdiction where thousands of new companies are incorporated every year, making the country a significant international market player. 

Cyprus has an efficient and well-developed legal system and, as a former British colony, is a common law country with business legislation similar to that of the United Kingdom. Since Cyprus is a member of the European Union, a company registered in the country enjoys all the benefits of operating in the EU. 

For all entrepreneurs who have firmly decided to form a company in Cyprus, Clevver offers professional assistance in remote LTD company registration in this promising jurisdiction. Upon request, our experts can also provide many additional services. To find out more, click here

Taxation in Cyprus 

  • The income tax rate (corporation tax) is 12.5%. Income tax is withheld from resident companies on profits from any commercial activity, whether derived from sources within or outside Cyprus. Non-resident companies are subject to income tax on income, the source of which is Cyprus. Income from securities transactions, dividends, and interest from non-core activities is not subject to income tax. 
  • Defense Tax (Special Contribution for the Defense) – from 3% to 30%. It is payable only by tax residents of Cyprus. Interest income earned by a Cypriot company in the course of non-core activities, such as the rental of real estate, is subject to defense tax at the rate of – 30%. 
  • Annual Levy. It is mandatory for all companies (even those not operating) from the first year of registration and is 350 Euros. Payment must be made by June 30 of each year. 
  • Capital Gains Tax – 20%.  
  • VAT (Value Added Tax). The standard rate is 19%, a reduced rate is 9% and 5%. If the company exports goods, the rate is 0%. It depends on the type of activity of the company. 

Benefits of Incorporating in Cyprus 

  1. Cyprus is on the “white list” of the OECD, which includes countries that have implemented international tax standards; 
  2. Dividends are not taxed in this jurisdiction; 
  3. Cyprus has a particularly favorable tax climate for companies whose activities are related to intellectual property (IP). Of the 100% of profits derived from IP, only 20% are taxable, the remaining 80% are tax-free; 
  4. Cyprus is strategically positioned between the emerging markets of the Far East and Africa and the developed economies of Western Europe; 
  5. The country has well-developed communication and transportation infrastructure; 
  6. Cyprus has a sound legal system based on English law; 
  7. The jurisdiction is one of the most profitable EU jurisdictions for ICOs, thanks to its legal framework and flexible tax laws; 
  8. Cyprus has signed DTAs with more than 50 countries, including the United Kingdom, the United States, China, Russia, India, Germany, France, Switzerland, South Africa, Singapore, etc. 

Remote Company Registration 

Company registration in Cyprus with Clevver hand is a step-by-step and clearly structured procedure. We are professionals and everyone who turns to us for help can be confident in the highest quality of services provided and the best timing of the task. Formation of your company in Cyprus does not require personal presence, Clevver experts will do everything remotely and provide the necessary documentation in digital access. 

APPLY TO US TO RECEIVE: 

  • The assistance of the specialists of the highest level;  
  • The remote support from Clevver;  
  • A comprehensive package of documents on the company formation that can be assessed digitally;  
  • Possibility to receive many extra to business incorporation services in Cyprus (registered address, mail-handling service, a local phone number, and many more);
  • Quick processing for the business incorporation service;  
  • Consistent customer support and individual approach to each client. 

Bottom Line 

Cyprus is an attractive place to do business. One of the decisive factors that have played a role in this is Cyprus’ business-friendly tax system, which offers many advantages to companies located in the country. 

With Clevver’s assistance, an established company in Cyprus will start working faster and become an effective tool for international business. Contact us today!

DISCLOSURE NOTICE: Any legal or tax advice in this communication (including any attachments) is for information purposes only and is not intended to be used, and cannot be used against Clevver or its Sender. The sender is neither an Accountant nor a Lawyer and cannot be made liable. Please, contact your tax accountant for individual consultation. Clevver does not provide any legal advice itself. Clevver works together with a network of lawyers and tax advisors that provide all necessary individual legal advice.


TOP 10 US States to Incorporate a Company as a Foreign Entrepreneur

Psoted on: April 8, 2021 at 7:40 am, in

Overview:

  • The United States has consistently ranked among the best countries in the world for overall competitiveness and ease of doing business.  
  • The US business culture, backed by a regulatory environment, is particularly conducive to starting and operating a business and encourages free enterprise and competition. 
  •  There is a transparent and predictable legal system in the US, all companies – regardless of origin (resident/non-resident) – compete on an even playing field.
  • Clevver experts will readily help you incorporate a company in any of the 50 US states on a remote basis.

Setting ambitious goals and achieving them is the very essence of entrepreneurship. When one has achieved certain results in their business, they want to master new heights, for example, open a new company in another country.  

Today, we will talk about the USA and the best states where a foreigner can register a company on favorable terms. Originating a business entity in the United States is a good way to expand your business globally. An LLC or limited liability company is considered to be the best option for a company status in the US. 

To conclude in which of the 50 states, one federal district, and 5 territories it is better to start up a business for a foreign entrepreneur, we’ll use knowledge about the USA tax system in different states.

The Best US State to Register a Business Entity for a Non-resident

In which state is it better to incorporate a company for a foreign entrepreneur in America? By and large, all paths are free and a company may be registered in any of the 50 states, but some of them may indeed be more “attractive”. Which ones? To determine this, let’s start with taxes first. 

The trustworthy and well-known organization — the Tax Foundation annually publishes the US State Tax Climate Rankings, which showcase the states with the most prosperous conditions for entrepreneurship in terms of laying taxes approach, tax diversity, and their rates.  It is an independent organization, which has been involved in tax research for more than 80 years already. Many reputable business publications refer to their reports. The study, which contains the entire methodology for calculating state ratings depending on taxes, can be found here.

TOP 10 US States for LLC Registration

This is a TOP ranking consisting of 10 US states with the best tax policies for registering a business entity:

  1. Wyoming 
  2. South Dakota 
  3. Alaska 
  4. Florida 
  5. Montana 
  6. New Hampshire 
  7. Nevada 
  8. Oregon 
  9. Utah 
  10. Indiana

You can also see a sketch of the tax policies of different US states below:

Source

Let’s take a quick look at the states to see how they earned their place in the TOP 10: 

Wyoming 

  • Corporate tax rate: 0%
  • Personal income tax rate: 0% 
  • Sales tax rate: 4% 

Are you seriously thinking about registering a business entity in the USA? The company Clevver.io provides a full range of services necessary for this. Visit our website and find out everything about the cost and timing of the service. Conquering new business peaks with Clevver is easy and affordable!

South Dakota 

  • Corporate tax rate: 0% 
  • Personal income tax rate: 0% 
  • Sales tax rate: 4.5% 

Alaska 

  • Corporate tax rate: 9.4% 
  • Personal income tax rate: 0% 
  • Sales tax rate: 0% (but at the local level, municipalities can raise it up to 7%) 

Florida 

  • Corporate tax rate: 5.5% 
  • Personal income tax rate: 0% 
  • Sales tax rate: 6% 

Montana 

  • Corporate tax rate: 6.75% 
  • Individual income tax rate: from 1% to 6.9% depending on income 
  • Sales tax rate: 0% 

New Hampshire 

This state has an additional Business Enterprise Tax, which was originally set at 0.75% of the tax base of the value of the enterprise. 

  • Corporate tax rate: 7.9% 
  • Personal income tax rate: 0% (5% on dividends) 
  • Sales tax rate: 0% 

Nevada 

  • Corporate tax rate: 0% 
  • Personal income tax rate: 0% 
  • Sales tax rate: 6.85% (locally up to 8.26%) 

Oregon 

  • Corporate tax rate: 6.6% on the first million $, 7.6% on income over $1 million 
  • Individual income tax rate: from 5% to 9.9% depending on income 
  • Sales tax rate: 0% 

Utah 

  • Corporate tax rate: 5% 
  • Personal income tax rate: 5% 
  • Sales tax rate: 4.7% (6.85% for Salt Lake City) 

Indiana 

  • Corporate tax rate: 6% (by 2021 will be reduced to 4.9%) 
  • Personal income tax rate: 3.23% + small county tax rate of up to 0.021% 
  • Sales tax rate: 7%

Delaware

Delaware is one of the most popular jurisdictions in the United States for registering corporations. For several years in a row, it has been in 11th place, but you should also pay attention to it.

One of the benefits of Delaware is that there is no state income tax. There is another tax — the so-called franchise tax (it is fixed) in the amount of $300/year (the amount may vary depending on the company’s turnover and the type of activity).

But huge corporations choose the state of Delaware because of the state’s judicial system, which is even called the “Delaware Corporate Shield.” Delaware laws provide the best protection for business owners’ personal assets from creditors. Delaware has a separate court called the Court of Chancery. Its judges have extensive experience in resolving business disputes, and the state has the largest case base in the country. In sum, this allows even very complex economic disputes to be resolved quickly (within weeks, not years) and as “transparently” as possible.

To incorporate an LLC in Delaware with Clevver.io assistance is the right decision because pricing starts from 129 Euros here. Visit our site to learn more.

Final Thoughts

Do not forget about the simple truth: how many people — so many opinions. It is crucial to remember that you ought to focus on the needs of your business. You can concentrate on absolutely any indicators that are important for its prosperity. 

Such states as Delaware and Wyoming are definitely worth considering to open the LLC. These states provide excellent opportunities for registering companies by non-US residents + the cost of registering/maintaining companies in these states is one of the best in the country. Clevver specialists support the company incorporation in any of the 50 states on request.

DISCLOSURE NOTICE: Any legal or tax advice in this communication (including any attachments) is for information purposes only and is not intended to be used, and cannot be used against Clevver or its Sender. The sender is neither an Accountant nor a Lawyer and cannot be made liable. Please, contact your tax accountant for individual consultation. Clevver does not provide any legal advice itself. Clevver works together with a network of lawyers and tax advisors that provide all necessary individual legal advice.


Go Global with Clevver’s Support. Form a Company in Hong Kong Online

Psoted on: March 26, 2021 at 7:39 am, in

Overview:

  • Hong Kong has a reputation as one of the most prestigious jurisdictions in the world. 
  • An alpha city has a simple tax system with low tax rates (basic income tax rate is 16.5%). Also, there is no taxation for companies operating outside the territory of Hong Kong and zero taxation on dividends and capital gains;
  • There are no currency controls in Hong Kong; 
  • Clevver supports a simple registration of a company in the jurisdiction that does not require the physical presence of the owner.

Hong Kong is a special administrative region of the People’s Republic of China, located on the Kowloon Peninsula. It is widely recognized as the center of trade and business in the Asia-Pacific region. Hong Kong’s economy is based on a free market, low taxation, and non-interference by the state. Thanks to very rapid economic growth, the region has become one of the four “Asian Tigers”, along with Singapore, South Korea, and Taiwan. The official languages are Chinese and English. 

Registering a company in Hong Kong offers great opportunities for business development and prosperity. A favorable investment climate, stable legislation loyal to non-residents, and a developed economy make the jurisdiction especially attractive for foreign entrepreneurs to open a business here. 

For those who want to form a limited company (LTD) in Hong Kong online, Clevver will gladly provide qualified assistance. Our specialists will help incorporate a business entity remotely, you will not have to visit Hong Kong in person, and provide a full package of documents on the company registration in a digital form. Click here to find out more.

Taxation in Hong Kong

  • Income Taxation. In Hong Kong, there is a territorial principle of taxation. It means that the income of Hong Kong companies is taxable only if it is derived from a source in Hong Kong or if the activity to derive such income was carried on in Hong Kong. If the company did not conduct activities in the territory of Hong Kong and did not receive income from sources in Hong Kong, income tax is not charged on it.  

Income derived from sources in Hong Kong is subject to income tax under a two-tier system at the following rates:

Amount of profit Legal entities
Not more than HKD 2,000,000 (Hong Kong dollar) 8.25%
Over HKD 2,000,000 16.5%

Where profit exceeds HKD 2,000,000 (approximately USD 257,000) the corporate income tax rate of 16.5% will not apply to the full amount of profit made, but only to that part of it that exceeds HKD 2,000,000.

  • Dividends paid by a Hong Kong resident company to a foreign company are exempt from withholding tax in all cases. Also, dividends paid by a foreign company to a Hong Kong company will not be subject to Hong Kong income tax. 
  • Royalties paid by a Hong Kong resident company to a non-resident may be subject to Hong Kong withholding tax where the copyright and/or intellectual property is actually used in Hong Kong, or where the royalty is effectively deductible for income tax purposes. The effective rate is 4.95% for payments to parties that are not related to the Hong Kong company paying the royalty. If the parties are related, the standard withholding tax rate of 16.5% applies.
  • Hong Kong law does not provide for VAT, and capital gains tax is not taxable in most cases.

8 Reasons to Open a Business in Hong Kong

  1. Developed and stable economy, Hong Kong is one of the most developed and advanced, stably existing economic regions in Asia. 
  2. The country has minimal requirements of the state authorities to the procedure of opening a company and short terms for business registration; 
  3. No taxes if profits do not originate in Hong Kong (the use of the territorial principle of taxation, where the income derived outside the country is not subject to taxation), or low tax rates if profits are made in Hong Kong; 
  4. No restrictions on foreign investment, capital flows, and income. 
  5. There are no currency controls in Hong Kong, the company can transfer funds for transactions relating to the business activities of the company at any time, in any currency, and to any country. 
  6. There are no customs duties, Hong Kong is a free port. 
  7. Firms registered in the territory of Hong Kong are entitled to conduct any legal activity. For such activities as credit, insurance, banking, investment consulting, a special license is required. 
  8. Good geographical location close to mainland China.

Incorporation in Hong Kong

Clevver experts will help register a company in Hong Kong remotely. Our specialists offer assistance with the time-efficient setup of a company in Hong Kong and save you from procedural and registration hassles on the way.

WHAT WE OFFER:

  • The quality assistance of the highly-qualified specialists; 
  • Online support from Clevver; 
  • An essential set of documentation on the company formation in a digital format;
  • Possibility to receive many extra to business incorporation services (registered address in Hong Kong (link), mail-handling service, and many more) 
  • Consistent customer support and individual approach to each client.

Bottom Line

Hong Kong — it is minimum prohibitions and costs, and maximum conveniences for business development. As a major financial center of Asia, Hong Kong is very attractive in terms of favorable conditions for trade and entrepreneurship. Business infrastructure, simplicity of taxation, and corporate legislation create opportunities for the arrangement and success of international business. 

Clevver team lends a hand to register an LTD in Hong Kong, reach out to us for more information!

DISCLOSURE NOTICE: Any legal or tax advice in this communication (including any attachments) is for information purposes only and is not intended to be used, and cannot be used against Clevver or its Sender. The sender is neither an Accountant nor a Lawyer and cannot be made liable. Please, contact your tax accountant for individual consultation. Clevver does not provide any legal advice itself. Clevver works together with a network of lawyers and tax advisors that provide all necessary individual legal advice.