General Trend - Restructuring

It's time to forget about offshore structures and other shady jurisdictions for business. It is necessary to change them to more reporting-inclined structures and "white" companies. There are still options within Europe which can offer tax optimization according to all the rules.

Premium Legal Solutions Ltd. offers its customers registration and further servicing of jurisdictions such as Czech Republic, Hungary, Great Britain, Cyprus, Bulgaria, Slovakia, Latvia, Estonia, Georgia, Armenia, Singapore, United Arab Emirates and others.

A Swedish partnership instead of a Scottish one? A Danish company with Cypriot shareholders? Or maybe just use one of the Special Economic Zones of Georgia offering tax heaven conditions? How about a good old UK LTD?

It is necessary to analyze the business, compare different jurisdictions and choose not only the most suitable, but most importantly profitable and long-term solutions. The main point is to create a structure that won't be threatened to be closed by one of the banks.

One of the simplest but very important factors is a reliable and understanding accountant. After all, everyone knows that with the right approach to optimizing, it is possible to significantly reduce the taxable part of any structure within the jurisdiction.

A recent loud case with ABLV bank in Latvia clearly showed the importance of having several settlement accounts. And now, with an abundance of developing payment systems, diversifying assets becomes easier and faster, especially for resident reporting companies.

One of the alternatives of how to restructure your business is to start with yourself. Changing your residency status can vary, it all depends on your goals. Here are a couple of examples:

1) In several banks of Eastern Europe, a private banker is still permitted to open an account with a European company with a European shareholder in one day, without agreement with the legal department of the bank. To use this option, citizens of the CIS will need to change their residency or get a second passport.

2) Upon receipt of residence permit in the United Arab Emirates, the client is assigned an ID card that will serve as the basis for the bank to consider the client as a resident of the UAE, which means that the bank is not obliged to transfer information to the tax authorities of the client's country.

Premium Legal Solutions Ltd. offers assistance in obtaining citizenship, residence permits or permanent residence in the following countries: Georgia, the United Arab Emirates, Portugal, Malta, Andorra, Cyprus, Latvia, Lithuania, Slovakia, Czech Republic, Hungary and others.