A full range of legal services and support for businesses of any size
We open, maintain, optimize taxes, prepare contracts and agreements, accompany transactions of any complexity and obtain licenses
Accompanied the deal
We speak the same language with our clients and are focused on results: only real and working solutions, not theoretical answers.
The first consultation is free.
Opening an IT Company and Corporate Account
We need a company for software development and sales. The projected annual profit is from $500,000 USD. We require a local bank account, the ability to accept payments from users worldwide, and maximum tax optimization.
Crypto Asset Management
A company is needed to manage cryptocurrency in clients' accounts and accept payments from users worldwide in cryptocurrency for management on its own account.
27.11.2023, 15:56What is the difference between passive and active companies?
Suppose you have opened a foreign account for a company or are in the process of opening one. In that case, you have probably encountered questions in the questionnaire about its international classification: financial/non-financial, passive/active. It is no coincidence that these criteria are included in the questionnaire, as they significantly affect your tax bill.
23.11.2023, 15:33Banks now monitor you on the internet
Banks now monitor you on the internet. But how and why? How to successful passage through the adverse media screening.
22.11.2023, 15:31What are you actually paying for when you buy a nominal service?
In our article, we share what to pay attention to when choosing a business provider, how to avoid risks, protect your business, and use the nominal service to maximum advantage.
16.11.2023, 08:00Top 4 reasons for closing a corporate bank account immediately after opening
Imagine this: you have done a lot of work and successfully opened a corporate account in a foreign bank. And then your brand new account in a foreign bank is blocked and closed! Is this possible, or is such a scenario just a horror story for a business that dares to start working abroad?
03.11.2023, 14:25Is Singapore the best alternative to the UAE for setting up a company?
Singapore, though distant, holds its allure – is it worth registering a company in this country today?
31.10.2023, 08:13Top 3 strangest questions from the bank that we encountered
Over 8 years of working with accounts abroad, Antwort Law is accustomed to the most non-standard questions from banks. It's hard to surprise us, but the next three requests did it.
24.10.2023, 07:38The EU Directive on Adequate Minimum Wages. How will it affect the operations of European digital platforms?
In 2022, the European Parliament adopted the Directive on Adequate Minimum Wage, which is intended to facilitate the establishment of a legislative minimum wage level in all EU member states. Thanks to this document, by 2024, all workers in the European Union should receive a fair and adequate wage regardless of their place of residence.
16.10.2023, 16:42How to confirm the source of funds for a bank?
We will talk about a very important requirement that everyone who will open or use accounts abroad will probably encounter, namely confirmation of funds’ source you will deposit into the account.
06.10.2023, 10:532 universal tips for opening a foreign bank account for a company
When a company considers opening an overseas account, it faces several complex questions. What security policy features should be known in advance? How can one strengthen their application for a positive decision? What factors influence the overall process?
20.07.2022, 09:31The FCA has imposed a ban on the Binance exchange carrying out operations with cryptocurrency
The financial regulator of the United Kingdom (FCA) has officially refused the global cryptocurrency exchange Binance to carry out legal activities on the territory of the state
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Do I need a financial institution license?
There is a wide variety of financial companies involved in regulated activities. Most of them require an appropriate license.
How long does it take to open a corporate account abroad?
Opening a foreign corporate account takes from 2 weeks to 3 months. This is due to the requirements of financial regulators for banks and payment systems to conduct thorough and multi-stage checks of their clients. The final account opening time depends on various factors, such as the country, the type of business, the choice of the bank, the nationality of the founder and director, public information about them and the company, the availability of a complete set of documents, and other factors.
Why does the bank refuse to open an account?
The reasons can be diverse, but the four most common ones are: 1. Errors in document preparation. 2. Incomplete data, brief and unconvincing answers, lack of logic and structure in responses, and the absence of a well-thought-out company history. 3. The nationality of the founders and/or directors. 4. The company's activities or insufficient turnover. For example, it can be challenging for cryptocurrency companies to open an account due to the nature of their business, and many banks evaluate the potential turnover of the company during the selection process.
What to do if the bank requests a source of funds?
Provide documents that confirm the source of funds with which you will be depositing money into your account and conducting business. The most reliable sources are those that are officially documented and have had taxes paid on them. If you received funds from the sale of cryptocurrencies, which are not regulated at the legislative level in many countries, provide a statement from the exchange. In some cases, you may also need a lawyer's opinion or a certificate from government organizations.
Can a loan agreement be used as proof of the source of funds?
We do not recommend using loan agreements as proof of the source of funds. The common practice is that most banks do not accept such documents as adequate justification for the source of funds or they may ask numerous additional questions that would require gathering even more information. For example, documents about the lender, confirmation of their source of funds, as well as how and when you intend to repay this loan.
In what cases do banks request proof of the source of funds?
The source of funds is one of the most common requests from a bank, and the response to this request influences the decision to open an account and its subsequent operation. Typically, banks make this request in two scenarios. Firstly, when opening an account: the bank wants to know the sources from which you intend to make your initial deposit. Secondly, in the case of significant transfers between personal and corporate accounts: even if it's your company, you will need to specify the source of funds in your personal account.
Is it normal for a bank to send questions about your payments?
Yes, don't worry, this is a common practice for banks. They have the right to request any information regarding your payments. We recommend responding to all questions as accurately and promptly as possible.