There are many different situations where you can face the problems which can come at the start or, even worse, in the middle of setting up a business. It is important to have experienced professional partners with international knowledge supporting you at that moment. The international environment can be challenging due to many different rules, regulations, processes, requirements.
The clients we have worked with have commonly come to us with a solution which they want, but not knowing what the consequences are, such as cost, of making the wrong conclusions and choosing the wrong steps. It happens many times that people choose cheap local service provider and get into problems which those service providers can’t solve hence to the fact their knowledge and experience is only local and full of boundaries.
Euro business solutions had no case where the problem couldn’t be solved.
A client, a US company, came to us with a request
for company registration in EU.
After the client described his business and explained what will the company be doing, we advised there is no need for company registration in the EU and we saved the client from wasting the time and the money. The client needed to employ a software developer who will be working from home in Germany. Since there are no special work related requirements and there is no business activity other than this, there is no need for the local entity, hence no need for an additional cost for maintenance of that company such as accountancy, Registered office address, etc. We registered a US company as an employer in Germany. We obtained a tax number for that company and provided an employment contract. The only service that the US company is paying now, along with the salary to the employee and related taxes, is monthly payroll service.
A client, who was about to register a German company,
was rejected by the bank.
It is mandatory to get approval for the company’s bank account in Germany in order to pay the share capital, which needs to be submitted to the register along with other documents in order to register a new company. The client was from Canada. As a director, he had to visit the country in order to get identified by the bank. For some reason, he was rejected. The client went back home without the company and without a bank account. Instead of him coming back again, wasting time and having double costs while trying with another bank, we offered a guaranteed solution. His chances with another bank were 50% anyway. Instead of registering a new company we transferred on the client a shelf company. Since that was much faster, we minimized the time loss. More importantly, the share capital is already paid up in German shelf company and it is kept on an Escrow account, and waiting for a new owner to open a bank account, which doesn’t have to be in Germany in this case. Only when registering a new company, the German Register will insist on getting confirmation about paid-up share capital from the German bank. When we transferred the company, the client opened a bank account in Canada in the name of his German GmbH and we transferred share capital on his account. Even if he couldn’t do that, we would open an account for him in another country remotely.
A client from Australia had to register a company in the EU fast,
but he did not have time to visit.
A client from Australia had to register a company fast but didn’t have the time to visit. The client thought the company with a bank account can be set up remotely in Poland. Australian company got a project in Poland and had to start working within one month, otherwise, they would pay penalties, but the director was engaged with several different projects in different countries and had no time for such trip to Poland. We provided our Nominee director who went on the trip and finished the account opening process. Our Nominee had active net banking rights and Australian director had passive net banking rights. For the next 2 months, Nominee did the payments on behalf of a client whenever instructed and after that time Australian director visited Poland and went on meeting with the bank, took the full right of the account and released Nominee of his duty as there was no more need for this help.
US company selling products online wanted to obtain VAT number
in each EU jurisdiction.
The client came to us with a request for EU company registration and they wanted to apply for VAT number in each EU jurisdiction. After they explained to us how they need this to be able to sell their products online within all European countries, we advised to apply for VAT MOSS. It is a one VAT number valid in all/more EU countries. Obtaining VAT number in each jurisdiction has different requirements and costs. Also, in some jurisdictions the process can last for 3 months. We saved the client from paying 10’s of thousands of EUR on registrations and yearly accountancy services in each jurisdiction. If he went to local accountants in each jurisdiction, he would get offers from each jurisdiction for VAT registration separately.