Law of IT-sphere. Recent changes in the banking and taxation sectors, including the fight against offshores and tax evasion, have made attracting foreign employees and having an office abroad a prerequisite for doing business for many companies.
Most banking institutions do not even consider the documents of the applicant who wants to open an account, if they do not contain papers confirming the presence of personnel and an office in another country.
The maintenance of such an office is taxing in terms of paying taxes. In addition, if you do not pay sufficient attention to the design of personnel and all the legal nuances associated with it, you risk losing clients or allowing the spread of confidential data.
Therefore, opening and maintaining an office abroad requires mandatory consultation with lawyers. By resorting to the services of specialized representatives, you will no longer worry about the safety of your business.
When starting a startup, one of the key points is the choice of jurisdiction for business registration.
When choosing a country for registration, you need to take into account a huge number of factors like the following ones: the general purpose for which a startup is created, its scale and geography, an acceptable tax rate, the conditions for registering an account with a banking institution, etc.
If you make a mistake when choosing a country for registration on its territory of an IT company, it may cost you too much, and in the most critical cases, it may lead to the project having to be closed.
Therefore, we recommend that you do not rely on yourself, but immediately contact professionals who have many years of experience working with start-up companies.
Any business assumes the presence of confidential personal data that is not subject to disclosure.
Particular attention should be paid to personal information for those firms that operate through the global network, since their activities are controlled by the GDPR (General Data Protection Regulation).
If you ignore the aforementioned system, you will find yourself in a risk zone, because violating the rules concerning the circulation of personal data of EU citizens, you will incur a fine of up to 20 million euros.
If your business activity is related to the IT sphere, contact the specialists right away, without not thinking that you can do everything yourself. Then you will have to pay in full.
The IT sphere is distinguished by its mobility and flexibility; it provides many opportunities, ranging from remote provision of services to clients anywhere in the world, to a huge choice of jurisdictions for registration.
Of course, as in any other industry, there are also nuances here, ignorance and non-observance of which is fraught with fines and a ban on doing business, which means, accordingly, the closure of the company.
Qualified lawyers will help you not only structure your own IT enterprise, but also register all related intellectual rights, invest in other similar projects, open accounts in reliable international bank branches and develop agreements for making transactions.
The help of specialists is a step towards creating and developing a business, which in the future will bring you profit for more than a dozen years.
The accounting department of the company must compile quarterly, annual financial reports and provide declarations to the tax service. Contact us for more information.