Is it possible to setup a company online and operate if fully remotely?
The answer is YES, but as always…it depends on many factors. Let us show you some examples of business incorporation in some of our favourite jurisdictions.
Registration of a company can be done in one day. You can either send us apostilled set of documents and we register the company remotely as your attorneys, or you can use nominee services that will shorten the process. Georgia is a great choice: companies don’t pay any corporation tax if they don’t distribute dividends, so you can operate totally tax free. Georgian government also introduced some interesting regimes, like Virtual Zone Company, Special Trading Company or Free Zones that give you total exemption from corporation tax. So, even if you withdraw profits: you pay zero tax, legally!
For e-residents the company can be registered in one day, all can be done electronically. If you are not an e-resident, we can register your company through a power of attorney in just few days. In case you use a nominee service, it is the same as for e-residents: one day registration. Estonia also doesn’t tax the company unless it pays dividends, so you can operate the company tax-free. No wonder that Georgia followed the Estonian taxation model and implemented the similar benefits for entrepreneurs.
It takes only 24 hours to have the company registered and everything is done through the electronic system. There is even no need to sign any corporate documents.
Incorporation takes around 1 week, and it can also be done remotely. If you will be a director or a shareholder, we just need scanned documents from your side. There is no capital gains tax on sale of shares, no withholding tax and the corporation tax is a fixed rate of 12.5%, so there are huge tax benefits of establishing in Cyprus.
IN A HURRY?
You can speed up the process of registering the company by:
Tbilisi City Hall,
here we register Georgian companies
Why is it not always safe to do it on your own?
WHO CAN GO REMOTE?
Can you do business remotely for all activities?
No, only certain businesses can work remotely (and without risk of double taxation). Some examples of activities for remote businesses can be: IT services, consulting, design and creative works (e.g. architects), marketing, PR services or social media related (social media managers), any online businesses (online shops, teaching, couching, translations), trading companies and trading intermediaries, and many other jobs for contractors and freelancers.
If you have a great idea in mind, you can build up your own business straight away. Every moment is good to start!