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  • Readymade Cypriot company acquisitionDatum28.01.2024 16:39
    Thema von PetersGrant im Forum Dies ist ein Forum in...

    When it comes to buying a business, it is important to understand and decide whether to register an entirely new business and start from scratch, or choose a previously formed or established business that has already been pre-registered. Ready-made companies are also referred to as paper companies or shelf companies (blank check companies) due to their acquisition process structure. As a rule, the company has already fulfilled all the requirements for legal registration. Therefore, it can be purchased by anyone who is willing to skip the registration and incorporation process. Accounting and various law firms usually sell such companies. The companies mentioned have no commercial or business activity, they only exist in a stand-by mode.

    The advantages of readymade companies
    The registration process for new businesses typically takes weeks or even months due to documentation processing and approval. In contrast, when purchasing a ready-made company, an entrepreneur only has to register his purchase in order to achieve a legal conclusion of the purchase process. If a person chooses to complete the registration process online, it takes even less time, usually it can be done in a few hours. Another benefit is that an already registered company will have a history or status showing that they have been in business for some time, meaning that when you first look at the company details it gives a sense of an existing experience looks at

    Ready company purchase in Cyprus (fees, requirements)
    There are various official websites or service providers that offer ready-made Cypriot businesses to buy online. This can be LP, LLC, Trust or other type of entity. The capital required varies from a few hundred to several thousand, depending on the size or scope of a company and its age. This service includes all paperwork to be completed and the relevant fees payable to HMRC.

    A purchase of the company may come with various licenses, such as an apostilled power of attorney. However, sometimes the total price of the company does not include some of the mentioned extras, so the future owner has to request them by paying them and taking into account the time frame required for the company's closing process.

    If a person resides in a country other than Cyprus when purchasing the business, they can have all procedures for the maintenance and operation of the business carried out by email, fax or courier.
    Basic requirements
    If you are willing to purchase a readymade Cypriot company, there will be following requirements you should be aware of:

    The purchase must be made with a nominee director and nominee shareholder appointed;
    A person will need to choose company’s name from the list given by the service providers;
    A set of corporate documents must be signed by the person who is purchasing the company (the trust deed, the open date share transfer agreement);
    A company must have a financial support for some period of time in order to function.
    Time frames
    If you are purchasing Cypriot readymade company you should be ready to deal with the following time frames:

    A vat registration number can be given in maximum 2 days
    Bank account can be opened in maximum 5-7 days
    Company’s new name (if changed) approval by the Cyprus Registrar of Companies maximum 3-4 days
    Adding new directors to the documents (if necessary) maximum 7-10 days

  • Company formation in BulgariaDatum12.01.2024 11:46
    Thema von PetersGrant im Forum Dies ist ein Forum in...

    Bulgaria has a corporate tax rate of 10%, which is one of the lowest in the European Union. Companies that operate under VAT have to pay tax on purchases at 20%. Certain services, like those related to hotel accommodation and camping, benefit from a 9% VAT rate.

  • Industry of SlovakiaDatum09.09.2023 12:52
    Thema von PetersGrant im Forum Dies ist ein Forum in...

    Major industries in the country are automobiles, metal and metal products, electricity, gas, coke, oil, nuclear fuel, chemicals, synthetic fibers, wood and paper products, machinery, earthenware and ceramics, textiles, electrical and optical apparatus, rubber products, food and beverages, pharmaceutical. The Industrial Production growth rate of Slovakia is 7.5%.7.5% of population in the country are unemployed. The total number of unemployed people in Slovakia is 408,736. Slovakia produces 26,420 GW/h of electricity each year. Slovakia emits 6.4 metric tons per capita of CO₂. On average, you would pay 1.77 USD for one liter of gasoline in Slovakia. One liter of diesel would cost 1.16 USD.

    Labour
    The total labor force of Slovakia is 2,749,330 people, wherein 4% are working in agriculture, 27% are working in industry, and 69% are employed in services. People in Slovakia speak the Slovak language.

  • Industry of Sri LankaDatum10.06.2023 09:22
    Thema von PetersGrant im Forum Dies ist ein Forum in...

    Major industries in the country are processing of rubber, tea, coconuts, tobacco and other agricultural commodities, telecommunications, insurance, banking, tourism, shipping, clothing, textiles, cement, petroleum refining, information technology services, construction. The Industrial Production growth rate of Sri Lanka is 9.4%.4.1% of population in the country are unemployed. The total number of unemployed people in Sri Lanka is 858,952. Sri Lanka produces 11,800 GW/h of electricity each year. Sri Lanka emits 0.7 metric tons per capita of CO₂. On average, you would pay 1.27 USD for one liter of gasoline in Sri Lanka. One liter of diesel would cost 0.67 USD.

  • Politics of SlovakiaDatum21.03.2023 12:16
    Thema von PetersGrant im Forum Dies ist ein Forum in...

    Slovakia is a parliamentary republic. In terms of political and civil liberties, Slovakia is 1st. Citizens in Slovakia experience total freedom. The majority of countries where citizens enjoy wide civil liberties and political liberties are representative democracies, where officials are directly elected by the citizens to advocate for their needs and wants. Free countries are often empowered by healthy economies and well-functioning governments. Prime Minister is Andrei Kiska.

    According to the World Bank Group, Slovakia's Government Effectiveness Index is 0.87. This shows that the government of Slovakia is effective. Citizens enjoy well-organized public and public services, and government efficiency is high. While some services may be lacking in certain areas, the overall environment encouraged by government legislation is favourable. In Slovakia, legislative power rests with a National Council. The Global Peace Index (GPI) for Slovakia is 1.478. The index of the strength of legal rights for Slovakia is 7. Overall, it is considered quite adequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; Credit reports are usually sufficient and generally available. Slovakia is a member of the United Nations (UN). On January 19, 1993, it became a full member of the United Nations. Slovakia is a member of the European Union (EU). On January 19, 1993, it joined the EU as a full member. Slovakia is a member of the World Bank.

  • Business translationsDatum09.02.2023 12:21
    Thema von PetersGrant im Forum Dies ist ein Forum in...

    Business translation can be considered as a sub-type of legal translation that deals with contracts, agreements and other legally binding documents between two parties. Business translation deals with both law and business, as most contracts use terms from both fields. Since corporate documents often include not only founding documents (articles of incorporation, shareholder agreement, etc.) but also documents relating to day-to-day business operations, high-quality business translations are a must at all times if you want to avoid unnecessary risks and litigation.

    Potential translation challenges may include: Names of legal entities arising from the fact that many jurisdictions recognize different legal entities that may more or less correspond to each other. A single legal form in one country may be represented by several similar legal forms in another. When incorporating in a foreign jurisdiction, it is crucial to correctly state such differences in the company's registration documents, as they define the scope and nature of the company's structure and operations.

  • Banking in NetherlandsDatum26.11.2022 12:20
    Thema von PetersGrant im Forum Dies ist ein Forum in...

    The Netherlands is a country with economic stability, a high standard of living and an excellent financial reputation. In addition, the number of people who want to open a bank account in Holland is growing every year. Dutch banks are among the most reliable in Europe. They have long been known for their high level of banking services and strict banking secrecy. The Dutch bank account is an excellent tool for investing and storing money you have earned. Banks in the Netherlands offer the opening of accounts of various types, customer support in different languages ??of the world, including English, internet banking, card products, private banking.

    Types of bank account
    The Netherlands banking system is very developed. The interests of the client in the bank sector are above all, therefore, the non-disclosure of bank secrets is protected at the legislative level and clients can rely on the confidentiality of information. Netherlands is a perfect country conducting international business.

    Corporate
    A corporate account has a wide range of instruments, as well as a range of different types of lending. Provides trade and structured finance services for your business in Netherlands, both for operating companies and for holding one. The corporate account offers the development of individual solutions in the field of corporate finance - the acquisition of assets, securities, and other operations.

    Personal
    A personal bank account is not for business use, but for an individual to keep and manage personal funds and other assets. This would be a personal banking account rather than a shared corporate account or joint account.

    Trading
    A trading account can be any assets account including securities, cash or other holdings. Most commonly, trading account refers to a trading primary account.

    Requirements
    To open a bank account in the Netherlands, a non-resident is required to provide objective data on the purpose of registration. In the absence of a reason for registering a foreigner with a bank, managers may have doubts about the advisability of opening a bank account.
    Please make sure that opening a bank account in Holland is possible only upon obtaining a tax identification number.
    Registration of foreign companies or legal entities in the Netherlands requires a large amount of documents proving the activities of the organization, financial stability and development plans. Besides, the use of a corporate bank account is characterized by the mandatory submission of an annual financial report and an audit.

  • Functions of an online trading companyDatum14.10.2022 16:30
    Thema von PetersGrant im Forum Dies ist ein Forum in...

    The main function of an online trading company is to buy goods from a manufacturer and resell them to retailers and consumers. A subordinate but nonetheless essential task is the delivery of the goods to the customer, since online trading companies usually lack physical infrastructure such as shops, outlets and other points of sale.

    In order to buy and sell goods, an online retailer needs to set up a hub for transferring products from manufacturers to customers. In this case, that hub is a website. Just as a physical store needs designers and marketers to arrange and present products in the most advantageous way, a digital store also needs specialists to guide customers through the possible purchase options.

    As far as the delivery of goods is concerned, an e-commerce company can either set up the delivery network itself or outsource this task by contracting with a logistics company. The online retailer then hands over his goods to the logistics company, which takes care of the delivery of the goods via its own network.

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