Global Companies Formation

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Global Company Formation

Why open a global company?
Establishing a global company is something that depends on the client's business needs. Sometimes it is in order to invest in real estate abroad. Sometimes the regulation does not allow a foreign resident to purchase real estate, and a local company is a local resident. Sometimes a company that owns real estate facilitates the sale, so instead of physically flying abroad to sell the property, the shares in the company are sold.

For example, in the USA to purchase real estate it is common to establish an LLC in the USA. Establishing an LLC is registering a limited liability company with special tax characteristics that make investing in real estate in the USA more convenient.

Sometimes a global company is established in order to establish an import/export business to the same country or region.

Sometimes a global company is established in order to provide services that cannot be provided in Israel easily, for example providing virtual currency services abroad.

Sometimes a global company is established for tax planning purposes.

And sometimes a global company is established for the purpose of establishing a business in that country.

How long does the process of opening a company take?
The time to establish a company varies from country to country. For example, in Germany the time to open a company is about three months. In Bulgaria the time is about two weeks. In contrast, in England the opening takes only about 24 hours.

Opening a company abroad is done in a simple and easy way, just like opening a company in Israel.

Opening a bank account abroad for a company is also an easy and simple operation.

How much does the process of establishing a company cost?
The cost of registering a company abroad is something that varies from country to country, and also from company type to company type.

There are several types of costs of opening a company abroad:

  • Lawyer's fees for opening a company abroad
  • relevant State fees 
  • Company address - an overseas address for the company
  • Costs of third parties acting on our behalf in the relevant country, such as agents in the field on our behalf, notary costs, etc.
  • Equity (equity is not a real cost because the money is available for use by the company after its establishment).
  • Out-of-pocket expenses: delivery expenses by courier, bank fees, small fees.

All types of costs above vary from country to country.

Types of companies
Below is a brief description of types of companies. There is a limited company, this is a company whose owners are protected from lawsuits related to the company's obligations to suppliers, employees, etc. A more relevant type of company for opening a company abroad is the IBC company. This is an abbreviation of International Business Company, whose nickname is "Offshore Company". An offshore company is a company that is registered in a certain country, but it is not allowed to conduct business in that country. This will usually be a company first thought to be registered in a country that requires very little if any tax on its income, provided that all of its income does not derive from that country.

In the USA there is an LLC company. It is an abbreviation of Limited Liability Company, a company with limited liability, which is actually a combination of a company and a partnership. The tax in a regular company is corporate tax, and if the owners of the company want money from the company - dividend distribution - they pay an additional tax on the dividend distribution On the other hand, the tax on the partnership income applies to the partners themselves and there are no two stages as in a normal company. Therefore, an LLC is an entity that benefits from the advantages of a company, but for tax purposes it behaves like a partnership - one taxation stage and not two as in a normal company.

Minimum equity Capital to establish a company
When opening a company, sometimes the specific country where the company is opened requires a minimum equity capital. For that matter equity is an amount of money that is closed in a bank account, the purpose of which is to serve as a security cushion for suppliers or employees who are in contact with the company. If the company has no way to pay a supplier or employee, this money can be used to pay off the company's debt.

In Israel, the USA, Singapore and Hong Kong, as well as many other countries, there is no minimum equity capital requirement when opening a company, the same is true in the USA. On the other hand, for the purpose of opening a company in Germany, there is a requirement to set aside 25,000 euros as a minimum equity, for the purpose of opening a company in Latvia, there is a requirement of approximately 2800 euros, and for the purpose of opening a company in the Netherlands, there is a requirement of only 1 euro.

Company Address
In a company abroad, a registered address is always needed in order to receive letters, usually for payment notices from the country, information notices. The registered address will also be used for opening a bank account, so you cannot be satisfied with just a post office box in that country.

We will find a permanent and cheap registered address for your new company.

Types of taxation of companies
When opening a company abroad, you must take into account the taxes that exist in each country where you operate.

Corporate tax - this is the tax that every company pays on its income. As mentioned above, the IBC company does not pay corporate tax at all. However, in Israel the tax laws state that even a foreign company whose control and management is carried out from Israel will be considered an Israeli company and therefore must pay corporate tax in Israel - this is, of course, subject to various tax treaties.

VAT - This is an additional tax that every company has to pay on every income.

Capital gain tax - a tax that must be paid on the sale of an asset at a profit, for example the sale of shares is subject to capital gain tax. Appreciation tax is a capital gain tax on the sale of real estate. In most countries there is no appreciation tax, and a tax on the profit that arises from the sale of any property, including real estate, is called capital gain tax.

Withholding tax on dividends, interest and royalties - "Withholding tax" is an action of collecting tax before transferring the money to the recipient. That is, instead of taxing the giver before the recipient received the money.

Withholding tax on dividends, interest and royalties are three withholding tax deductions when a company wants to distribute profits to the company's owners who are residents abroad, or if the company wants to pay interest to a company abroad that gave it a loan, or a company wants to pay royalties to a company abroad. To who gave her a license to use intellectual property such as patents, names or trademarks, copyrights, etc.

All of the above are accounting methods for moving profits from a country with high taxes to a country with low taxes, similar to the methods used by Google, Facebook, Yahoo, Starbucks, etc. Withholding tax is therefore an issue that is important to examine before starting a company in a certain country.

There are several legal methods to do this, it all depends of course on whether that country allows it or not. The way a country blocks the movement of profits is by enacting a law that requires withholding tax before the transfer abroad.

Turnover tax (rare) - this is a tax that is rarely imposed in certain countries and only for small businesses. This is a very small tax that is similar to VAT - it is imposed on every sale like VAT, but unlike VAT it cannot be offset against business expenses. It is very low and therefore suitable for small businesses.

Branch tax (rare) (bpt = branch profits tax or brt = branch remittance tax) - this is an additional tax beyond the corporate tax, which some countries impose on the profits of foreign companies in that country. The tax is against investment policy because it "punishes" investments in that country and is therefore rare.

Privacy regarding the identity of the company's shareholders and managers
A company must be opened with a body called the "Registrar of Companies". In every country there is a company registrar and his job is to register the new companies, the names of the managers, the names of the company owners, the company address and more.

In most countries in the world, the Registrar of Companies is a body whose records are open to the public. That is, anyone can see who the owners of a certain company are, who the managers are, what is the address for sending a statement of claim, etc.

However, in some countries in the world the information of the Registrar of Companies is not open to the public, and in fact it is not possible to know who owns a certain company, who are its managers, what is its address for sending letters. This means complete privacy regarding the identity of the shareholders and managers, and a practical inability to reach them to file claims.

Fiduciary services for company management and shareholders
One of the accepted solutions for companies where the company registrar's information is open for public inspection, is to find a trustee who will serve as the official manager of the company, as well as the official owner of the company. That trustee will be the one who will be registered as the owner of the company and as its manager, so that if necessary if the public wants to look at the information of the registrar of companies in that country, the name that will come up in the search is the name of the trustee.

If necessary, we can find permanent and inexpensive trust services for your new company.

Opening a company in the USA - establishing an LLC or an INC

For real estate investors, we do the USA LLC formation exactly the way Robert Schemin recommends. We form a company in all states. Delaware, California, Wyoming, Texas, Florida, Colorado, New York, Louisiana, Ohio, Michigan, New Hampshire, Massachusetts , Maine, Pennsylvania, Nevada, Illinois, New Jersey, Maryland, South Carolina, Georgia, Minnesota, Vermont, North Carolina, Lewa, Rhode Island, Tennessee, Connecticut, Kansas, Alabama, Indiana, Wisconsin, Kentucky , Nebraska, Arkansas, Oklahoma, Virginia, New Mexico, South Dakota, Montana, Oregon, Missouri, Idaho, North Dakota, Mississippi, Washington.

What is the formation of an LLC in the USA? In the USA there is a certain type of company on which the tax is not imposed at all, but on the owner. This is a type of hybrid between a company and a partnership.

Opening a company in the USA can be for the purpose of opening an INC. It is an abbreviation of incorporated, that is, Ltd. This is the company we know, with directors, shares and shareholders, etc. This type of company can be issued as a public company, compared to the establishment of an LLC that cannot be issued afterwards as a public company. Therefore, opening a company in the USA of the INC type is the company needed to establish a start-up company in the USA.

Most entrepreneurs are interested in opening a company in Delaware. Establishing a company in Delaware is very popular.

Opening a company in the USA is a very simple, very fast and very cheap process. There is no requirement to come to the USA in order to open a company in the USA, and the corporate documents are issued in just a few days. After that, we open a corporate bank account for the company with you.

For information on opening a company in the USA click here

Opening a company in Canada

Canada's strong consumer market, with 40.1 million people, is one of the most important in the world. The country is on the North American continent, and it is a very important strategic location for import/export operations to North America.

Investors see Canada as one of the most attractive investment destinations in the world.

Canada is a convenient gateway to the Canadian and United States markets, with relatively cheap maintenance costs and a local market that speaks English as a mother tongue, but also French.

In Canada there is something special about the name of the company: the name of the company can be its own VAT number, that is, the name of the company can only be its registration number.

For information on opening a company in Canada click here

Opening a company in Europe

We have experience in opening a company in Europe in any country you choose. Establishing a company in Europe for us is one of the services we provide the most at Hodorov Law Firm.

What is the cost of setting up a company in Europe?
The cost of establishing a company in Europe varies from country to country, and also from company type to company type.

There are different components to the costs of opening a company in Europe:

  • Lawyer's fees for opening a company in Europe
  • Company opening fees in Europe
  • Company address: European address for the company
  • Costs of third parties acting on our behalf in the relevant country, such as agents in the field on our behalf, notary costs, etc.
  • Equity (equity is not a real cost because the money is available for use by the company after its establishment).
  • Out-of-pocket expenses: delivery expenses by courier, bank fees, small fees.

All types of costs above vary from country to country.

How long does it take to register a company in Europe?
The time to establish a company in Europe varies from country to country. For example, in Germany the time to open a company is about three months. In Bulgaria the time is about two weeks. In the Netherlands, the time to open a company is also about three months.

Registering a company in Europe is done in a simple and easy way, just like opening a company in Israel.

Opening a bank account in Europe for a company is also an easy and simple operation.

Opening a company in UK
Opening a company in England is the simplest, fastest and cheapest process for opening a company in Europe. Technically, England is no longer part of the European Union, but it has many, many agreements with the European Union that effectively make it an almost inseparable part of it. The process of starting a company in England is very fast and cheap.

For information on opening a company in the UK click here

Opening a company in Bulgaria
Opening a company in Bulgaria is basically registering a company in Europe. This is a simple process. There is no requirement to invest initial capital when opening the company. Establishing a company is a relatively cheap, quick, recommended and very popular business.

A Bulgarian company will have to pay a corporate tax of only 10% on its income.

As of today (the year 2024), with the sanctions that Turkey is trying to impose on Israel for taking iron swords, Bulgaria is the natural choice to establish a company there, since it borders Turkey and has excellent relations with Israel.

For information on opening a company in Bulgaria click here

Opening a company in Cyprus
Cyprus is the closest country to Israel which is also a member of the European Union. When you add to this the fact that it is a hot real estate destination, the euro currency, and extremely low taxation (12.5%), this creates a winning combination that makes Cyprus a very attractive destination for international commercial and business activity. Establishing a company in Cyprus is essentially registering a company in Europe.

For information on opening a company in Cyprus click here

Opening a company in Germany
Our office is knowledgeable and experienced in opening a company in Germany easily and quickly. There are several ways to open a company in Germany. The first type of company in Germany is the GmbH, which is the usual limited liability company. The disadvantage for small businesses in opening a GmbH type company in Germany is that when opening it a high investment amount of 25,000 euros is required as the company's equity. Although this money is not "locked" and can be withdrawn after the establishment of the company as payments for company expenses, it is still a very burdensome requirement.

To encourage investments in the country, the legislator created another type of company in Germany that is now the most popular, called UG. This type of company requires a minimum equity of 1 euro, but requires the company to set aside a quarter of its income for the benefit of that equity, until it increases and reaches the size of 25,000 euros.

To open a company in Germany it is not necessary to come to Germany, but the entire process can be carried out remotely from Israel. The entire process is carried out in front of agents of our office in full coordination. Establishing a company in Germany is basically establishing a company in Europe.

For information on opening a company in Germany click here

Opening a company in the Netherlands
The Netherlands has a very significant advantage for exporters who are interested in the best gateway to Europe. Compared to Germany, there is no requirement to invest a minimum amount of equity when opening the company.

In contrast to imports to other European countries, when goods are imported to the Netherlands, if the goods are subsequently exported to other countries, there is no need to pay the VAT at all. In other countries, as mentioned, the first thing is to pay the VAT, and the importer receives a VAT refund only after six months. This greatly burdens the financing capacity of the business, in that the entrepreneur has equity that is stuck in the accounts of the tax authorities and is not being used for the purpose of generating a return. Establishing a company in the Netherlands is essentially opening a company in Europe.

For information on opening a company in the Netherlands click here

Opening a company in Estonia
The business owner who wants to open a company in Estonia will be happy to know that the company taxation in the state of Estonia is one of the most convenient in the world. In the state of Estonia the company does not have to pay corporate tax as long as it does not spend the profits outside the company circle. In other words, as long as the profits remain within the company and are not distributed to the owners of the company, and as long as the company does not use the profits to purchase things that the company does not need (such as a car or an apartment for the owners, etc.), there is no need to pay corporate tax on those profits! Establishing a company in Estonia is basically registering a company in Europe.

For information on opening a company in Estonia click here

Opening a company in Portugal
Beautiful Portugal... They say that Portugal is the No. 1 tourist destination. Those who have been to Lisbon also know why it is such a touristy country. Usually those who start a company in Portugal are real estate agents who are interested in investing in projects or properties in places like Porto, Lagos in the stunning Algarve region, etc.

The process of setting up a company in Portugal is open to all Israelis and is very customer friendly. Establishing a company in Portugal is essentially opening a company in Europe.

For information on opening a company in Portugal click here

Opening a company in Romania
Romania is one of the countries where you can only purchase real estate with land if you are a local resident. Therefore, the only way to do this safely is to open a company, inject money into it, and purchase the desired real estate through it.

Starting a company in Romania is super cheap and fun. To open a bank account it is necessary to fly to the country. Establishing a company in Romania is basically registering a company in Europe.

For information on opening a company in Romania click here

Opening a company in Austria
Starting a company in Austria is very similar to starting a company in Germany. In fact, even the type of company is the same: G.M.B.H. In Austria there is no OG company like there is in Germany. In Austria, the required equity capital is 10,000 euros, where half of this amount (5,000 euros) is required to be deposited in the company's account at the time of opening the company and as a condition for its opening. Establishing a company in Austria is basically establishing a company in Europe.

For information on starting a company in Austria click here

Opening a company in Spain
Opening a company in Spain is a very simple operation and the company is considered a European company. Spain is a very large market for the warm Latin people, similar to the Israelis. The Spanish market includes great real estate opportunities, and the renewable energy sector is also very strong in Spain. Establishing a company in Spain is essentially opening a company in Europe.

For information on opening a company in Spain click here

Opening a company in Ireland
Ireland is a stunning country, like a huge field of grass that looks like 4 times the size of the State of Israel, and it is a very relaxing place, with warm but polite people, who speak English fluently and also their local language - "Gaelic". Maintenance costs in Ireland are very cheap. Huge companies we know are actually Irish companies: Facebook, Google, PayPal, Airbnb, and more.

In the country the corporate tax is 12.5% ​​and you can open the whole company and the bank account without coming to the country. Establishing a company in Spain is essentially opening a company in Europe. Establishing a company in Ireland is basically registering a company in Europe.

For information on starting a company in Ireland click here

Opening a company in Malta
Malta is an independent island nation below Sicily, which is the "ball" in Italy's "boot". Malta is part of the European Union for all intents and purposes, and therefore the local currency is the Euro (EUR). In Malta they speak the Maltese language, which is very similar to Italian in its sound, but it is not Italian.

In Malta the corporate tax is very low, which gives it a significant advantage over other countries.

In Malta there is a developed financial regulation for virtual currencies and financial licenses. Establishing a company in Malta is essentially establishing a company in Europe.

For information on opening a company in Malta click here

Opening a company in Latvia
Hodorov law firm opens companies in Latvia, among other things. This is a country with a very convenient banking system, warm and smart people, who have a developed business sense, speak fluent Russian as well as fluent and excellent English - which makes Latvia a very good door to the Russian world.

For information on opening a company in Latvia click here

Opening a company in Monaco
Monaco is a very rich principality in Europe, measuring about 2 square kilometers and located on the French Riviera. Monaco is not included in the European Union, but it is covered under the French state in many matters. For example, the French Embassy in Israel also functions as the Monaco French Embassy.

Due to the large amount of tourism, as well as the rich local population, opening a company in Monaco is considered the start of a very profitable business.

Hodorov law firm also deals with issuing work visas for Israelis in the state of Monaco.

For information on opening a company in Monaco click here

Opening a company in Poland
Poland's strong consumer market, with 38 million people, is one of the largest in Europe. The country is in the center of Europe, and this is a very important strategic location for import/export operations to Europe. The country's favorable location in the center of Europe, where the main transportation routes intersect, allows goods to be exported to all European countries, thus reaching more than 500 million consumers.

Hodorov law firm is engaged in opening a company in Latvia.

For information on opening a company in Poland click here

Opening a company in Luxembourg
Luxembourg is a perfect place for investment and business expansion, because the small country allows companies to establish themselves there and provide services to the whole world.

Luxembourg is good for the establishment of holding companies, due to the low taxation on the one hand and the location in Europe on the other hand.

Luxembourg is also a convenient place for technology companies. For example, WIX is located in Luxembourg.

Hodorov law firm deals with opening a company in Luxembourg.

For information on opening a company in Luxembourg click here

Opening a company in the Czech Republic
The Czech Republic, a country that is part of the European Union, is a convenient solution for many entrepreneurs.

The local currency is the Czech koruna (CZK), and living is very cheap in the country.

The Czech Republic is a perfect place for investment and business expansion. The Czech government is keen to boost the economy.

Hodorov law firm deals with opening a company in the Czech Republic. Investors see the Czech Republic as one of the attractive investment destinations in Europe. The tourists are fascinated by the Czech hospitality and friendliness, the cultural heritage of the Czech Republic and the natural wealth of the country.

Hodorov law firm deals with opening a company in the Czech Republic.

For information on opening a company in the Czech Republic, click here

Opening a company in Slovakia
The Slovak economy is undergoing significant growth with solid foundations in the democratic mechanisms of the country thanks to which the economic system is considered one of the best economies. The local currency is the Euro (EUR), and living is very cheap in the country.

The process of opening a company in Slovakia is carried out remotely and at no stage is it necessary to physically come to Slovakia. There is no need to fly to Slovakia to open the company, nor the company's bank account. The entire process of opening the company and in most cases also the company's bank account, are carried out remotely without setting foot on Slovakian soil.

Hodorov law firm deals with opening a company in Slovakia.

For information on opening a company in Slovakia click here

Opening a company in Montenegro
Montenegro has a very important strategic location for import/export operations in the Middle East and Europe. The positive location of the country on the waters of the Adriatic Sea that flows into the Mediterranean Sea, as well as southern Europe, where the main transportation routes intersect, allows goods to be exported to all European countries and thus reach over millions of consumers.

Hodorov law firm is engaged in opening a company in Montenegro.

For information on opening a company in Montenegro click here

Opening a company in Finland
The country is in Northern Europe, as part of the Scandinavian countries, and this is a very important strategic location for operations of import/export to Scandinavia.

All these factors, together with the country's international safety due to Finland's membership in NATO and the European Union, make Finland a reliable and important business partner for foreign investors.

Hodorov law firm deals with opening a company in Finland.

For information on starting a company in Finland click here

Opening a company in Sweden
The country is in Northern Europe, as part of the Scandinavian countries, and this is a very important strategic location for operations of import/export to Scandinavia.

The local currency is the Swedish Krona (SEK). In Sweden there is no need for a local director or a local shareholder. However, if there is no local director, an agent is required on behalf of the company, called in Sweden "process agent". It is possible to open the company with 100% shareholding in the name of an Israeli citizen - in your name, or even in the name of an Israeli company. The director can be Israeli and there is no need for a local director.

Hodorov law firm deals with opening a company in Sweden.

For information on opening a company in Sweden, click here

Opening a company in Denmark
Opening a company in Denmark begins with the signing of incorporation documents. Unlike the process of opening a company abroad in most countries, in order to open a company there is no need to sign the incorporation documents in front of an Israeli notary public. The documents are sent electronically to the company registrar in Denmark (the Danish company registrar is called Erhvervsstyrelsen). At this stage the company is legally established and can start business activities, When then required to deposit the equity.

Hodorov law firm deals with opening a company in Denmark.

For information on starting a company in Denmark click here

Opening a company in Norway
Opening a company in Norway requires a minimum equity deposit of 30,000 Norwegian kroner, which is about 4,022 euros. In Norway, it is required that at least 50% of the board be Norwegian or someone who lives in one of the EU countries. The company cannot be opened without this requirement.

Hodorov law firm deals with opening a company in Norway.

For information on opening a company in Norway click here

Opening a company in Ukraine
The country is in Eastern Europe next to Romania, Poland, Belarus and Russia, and this is a very important strategic location for import/export operations to all of Europe and even the Middle East, via the Black Sea.

Due to the results of Russia's war against Ukraine, there is a need for a lot of investment in the country financially and in terms of real estate projects. The Ukrainian government is eager to boost the economy by providing incentives to foreign investors.

Hodorov law firm is engaged in opening a company in Ukraine.

For information on opening a company in Ukraine click here

Opening a company outside Europe

Opening a company in Japan
Opening a company in Japan is a very interesting process. In Japan there are two types of companies:

(Kabushiki-Kaisha (LTD - a limited company
(Godo-Kaisha (LLC - limited liability company (hybrid between a limited liability company and a partnership)

The most recommended type of company for regular business is KK. This is because in GK, for a shareholder to want to sell his share in the company, he must get consent from all the other shareholders. In addition, in GK the shareholders must also be the directors of the company and this is a disadvantage compared to the KK. Another advantage of KK is that it can be turned into a public company (its shares are traded on the stock exchange, unlike GK).

To open a company in Japan, you need a company name, a decision on the area where the office will be located, a definition of the company's business goals, and the identity of the company's directors.

Also, a physical office address is needed and not a post office box (this item can be obtained through couriers in Japan working in cooperation with Hodorov law firm).

As of April 2015, there is no need for a director who is a resident of Japan, but a foreign resident who has an appropriate visa, or a local representative only, is sufficient. The recommendation is to start a process for obtaining a business visa at the same time as the company in Japan, through which the entrepreneur will be able to stay in Japan and manage the company.

Due to the complexity of the process as well as the need to write company articles of association ("Taiken") in Japanese, the time to set up a company in Japan is between one and two months. The legal process includes going through about 10 steps to open the Japanese company.

In Japan, it is required to invest an amount of 5 million yen (about 44,000 euros) as equity into the company's coffers when establishing the Japanese company.

Reports must be made to the Japanese Tax Authority on a monthly basis. The corporate tax in Japan is 30%. In addition, there is a resident tax and other taxes that do not exceed 2%. On the other hand, Japan is part of 58 tax treaties, so there is a high chance that taxes can be minimized or offset.

For information on starting a company in Japan click here

Opening a company in Dubai
Dubai is only a 3-hour flight from Israel.

Dubai has several special characteristics that make the country particularly attractive for investors.

Dubai is growing and has a lot of real estate for investment at attractive prices.

In Dubai, 0% tax for companies that bring in less than NIS 3 million outside of Israel, and Dubai allows you to get a visa that was very long, which allows any investor to move there if he wants.

Dubai also has crypto licenses that allow virtual currency services to be marketed.

Establishing a company in Dubai is a process that includes several stages including physically arriving in Dubai and issuing an Emirati identity card.

For information on opening a company in Dubai click here

Opening a company in South Korea
South Korea is off the coast of Japan. The capital city of the country is the beautiful Seoul. In Korea, North Korea borders Turkey to the southwest, which makes South Korea a convenient solution for imports from Turkey and exports to Turkey.

The crypto market in South Korea is very developed. South Korea is home to some of the oldest and largest crypto exchanges in the world. In South Korea there are many opportunities for entrepreneurs in this field.

For information on opening a company in South Korea click here

Opening a company in Thailand
Thailand, also once called "Siam", is an exotic and interesting country, and is an attractive place for investments.
The country borders India, and is more or less halfway to Japan, Australia, New Zealand, etc.

You can invest in residential properties, especially in big cities like Bangkok and Phuket. Projects of rental apartments and holiday apartments are developing strongly in the country.
You can also invest in the construction of hotels, at simply insane prices compared to almost anywhere else in the world.

Thailand is a very popular tourist destination. Investing in hotels, restaurants, or tour services can be profitable and should be examined.

For information on opening a company in Thailand click here

Opening a Limited Partnership

Opening a limited partnership in Scotland
Scotland is a country under the sovereignty of England characterized by a unique legal entity - the Scottish limited partnership. This entity is European on the one hand, and on the other hand it is "transparent for tax purposes". What does "transparent for tax purposes" mean? that where a tax is imposed on the partnership (like a tax is imposed on a company, for example), a tax is imposed on the partners in the partnership, and this according to the tax that was imposed on them. For example, if the Israelis Mr. Yossi Cohen and Mr. David Levy are partners in a Scottish limited partnership, the partnership will not pay any tax in Scotland, and neither will Mr. Yossi and Mr. David pay tax in Scotland but in Israel, according to the marginal tax rates that apply to each of them individually! Nevertheless, the Scottish limited partnership is a European legal entity for all intents and purposes, which is relevant for certain activities such as opening a European bank account.

Opening a limited partnership in England
A limited partnership in England is essentially the same as a limited partnership in Scotland, but the limited partnership is required to submit annual income reports even if the source of the limited partnership's income is abroad, and even if there is no need to pay tax in England.

There are very important and substantial advantages to opening a limited partnership in England when it comes to doing business in Europe.

 

Opening a company in a tax haven

A tax haven is a country that does not demand taxes from a company incorporated in its jurisdiction. These are usually small islands, but this is also relevant to "continental" countries such as countries in Central America and Africa. And even in Europe like Gibraltar, and in Asia like Hong Kong.

In these countries there is complete privacy of the identity of the shareholders, and in addition the company can be opened "remotely" - there is no need to go to these countries to open the company.

In Hodorov Law Firm, we open companies on demand in the following countries:

Opening a company in Gibraltar
Gibraltar is a territory of England. Gibraltar borders Spain, it is 7 km in size in the Mediterranean Sea, and historically it was (and still is) of military importance.

As far as England is concerned, Gibraltar has an independent status from the governmental aspect, in that it has its own parliament (an independent legislative body), and it has its own government. It is still a territory of England because England has responsibility for the defense of Gibraltar, and England determines Gibraltar's foreign policy (foreign policy is the way in which a certain country decides to treat other foreign countries. For example, in friendly relations, in hostile relations, etc.)

The local currency is the British pound (GBP), and the official language in Gibraltar is of course English. Gibraltar is an expensive place.

In Gibraltar there is 0% tax on all income originating outside the country. Because Gibraltar is a country with a size of only 7 km, it follows that usually all the income is outside the country.

For information on opening a company in Gibraltar click here

Opening a company in Hong Kong
The city of Hong Kong has 7.4 million inhabitants, and is a huge business center. The country is in southern China, right on the southern coast, more or less in front of Macau.

The local currency is the Hong Kong dollar (HKD). The language spoken in Hong Kong is Chinese, but English is spoken fluently in Hong Kong.

The country has a 0% tax on all income originating outside the country. Because Hong Kong is a city-state, it follows that generally all income is outside the country.

For information on opening a company in Hong Kong click here

Opening a company in Singapore

Singapore is a convenient gateway to the Asian market, with access to cheap labor, low maintenance costs and a local market that understands the English language very well.

In Singapore a local director is required but a local shareholder is not required.

The corporate tax in Singapore is only 17%, but the company in Singapore is completely exempt from any tax on profits whose source is outside of Singapore. In other words, 0% tax on all income outside Singapore. In Singapore there are many tax exemptions and discounts in all kinds of directions.

Khodorov law firm opens a company in Singapore.

For information on opening a company in Singapore click here

For information on opening a company in Singapore click here

In the Caribbean:

  • Dominica
  • British Anguilla (British Anguilla)
  • British Virgin Islands (British Virgin Islands; BVI)
  • St. Vincent (St. Vincent)

in the Pacific Ocean, in the Marshall Islands;

in Central America

  • Belize
  • Costa Rica
  • Panama (Panama - there is a requirement for special justifications on behalf of the Israeli Anti-Money Laundering Authority to open a company in this country)

in West Africa, in the country of Liberia (Liberia)

 

The service we provide

Why is it recommended to start a company with a law firm?
There are all kinds of companies that open companies abroad for you. But opening companies is a legal service.

1. A company for opening companies that is not a law firm cannot give you legal advice.
Although some of the employees in such places are indeed lawyers, it is still not a law firm and therefore they will not give you legal advice even if you ask. Instead, they will guide you to contact a law firm for legal advice.

2. A company for opening companies is not legally bound to keep your business confidential.
If you have an international startup that wants to provide an innovative service before everyone else, there is no guarantee that the confidentiality of your business will be maintained. A company for opening companies abroad does not have to keep the confidentiality of your business.

On the other hand, in a law firm, section 19 of the rules of the bar association states that "a lawyer shall keep confidential anything brought to his attention by a client or on his behalf, while fulfilling his duties, unless the client expressly agreed otherwise."

3. Cheaper costs.
When the client opens the company through a company for opening companies abroad, the legal advice is separate and involves separate additional costs. On the other hand, in a law firm, the cost of opening a company abroad and the cost of legal advice are integrated together and in the general calculation the client usually benefits from reduced costs.

Why start a company abroad with Hodorov law firm?
Hodorov law firm does company establishment abroad all over the world.
Hodorov law firm has rich experience in registering a company abroad in almost every country in the world.

No matter where you want to do the process of opening a company abroad, we know how to open a limited company there.

We will take you through the entire process of setting up a company abroad.

Hodorov law firm opens a company abroad every week quickly, and with a lot of experience.

In addition, we have connections with professionals around the world to assist in the non-legal aspect as well, for everything a business may need.

Contact us now free of charge to receive initial legal advice regarding the opening of a limited company, by phone +972-52-5690866 or by WhatsApp, or by contacting us in "Contact" through the website.