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How to open a business abroad

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In which countries is it better to start a business – Italy, Poland, Lithuania, Latvia, USA? .. Our experts tell you how to choose a suitable location, taxation system and form of ownership.

Read about how to start a business abroad, properly register a legal entity, as well as other important local features for entrepreneurs – in the materials of the collection.

One of the convenient options for business immigration to the States is to open an L1a visa. This visa allows you to legally stay in the United States for up to 7 years without having to return to your homeland, extending your stay in place“, – share experts Antonina Ivanova, international lawyer, partner of AINConsult, and Anastasia Melnikova, founder of the” Aim “project School of Business English and Communication.

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To obtain an L1a visa and business immigration to the United States, you must:

1. Register a company in the USA. An L1a visa is issued to a top manager of a Belarusian company to move and work in an American company affiliated with a Belarusian. Any legal entity, with the exception of those subject to US sanctions, can do this.

2. Submit your L1a immigration petition.

Read more about each stage in our material.

Small and medium-sized businesses account for 99.8% of the Lithuanian economy. Our experts – the head of the tax practice of the international company Ellex Gintaras Balcius and the lawyer of the company REVERA Mikhail Bitus – are confident that with such an advantage of small and medium businesses, successful and profitable business in Lithuania can be carried out without the formation of holdings or large business groups.

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Main business-friendly sectors in Lithuania:

  • International Business Services (Global Business Services), especially for financial and insurance companies, information technology (IT) companies and manufacturing companies
  • Manufacturing, especially in woodworking, metal and plastic processing, car parts, aviation textiles and clothing, furniture, paper, chemicals and plastics
  • Life sciences, especially chemistry, biochemistry, molecular biology
  • Applied technologies, especially financial technology (Fintech), cybersecurity, game development, data centers.

What form of ownership is better to choose for doing business in Lithuania, how to apply for a visa and what tax preferences foreign entrepreneurs can count on – read the material.

“Italy is interesting for foreigners to do business primarily because of its strong economy. The Italian economy ranks 8th in the top 10 largest economies in the world and 4th among the EU economies “, – tell the representative of REVERA in Italy Yulia Prokopenko and Maria-Christina Braida – a specialist in corporate, commercial and banking law at R&P Legal.

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One of the options for doing business in Italy is to create a branch of a foreign company. The branch must be registered with the Italian Business Register (Registro delle Imprese).

A permanent establishment is defined when a foreign company has a commercial establishment in Italy, a stable presence in the territory and carries out (in whole or in part) its activities – for example, has an office, service premises, production site, workshop, mine or oil / gas production site.

In general, a permanent establishment is subject to the same taxes as Italian companies and is expected to pay corporate tax on profits earned in Italy. The branch prepares an annual financial balance sheet and must fulfill the same requirements as regular companies: maintaining registers, filing tax returns and VAT returns.

Which foreign companies are not recognized as permanent establishments and are not subject to taxation in Italy, as well as advice on how to open a new company or joint venture in Italy – see the link.

There are many ways of doing business in Poland – from international trade to starting a company – each one attractive in its own way. But most of all rights and competencies are provided by opening your own company in this country.“, – believe the lawyer of the company REVERA, Candidate of Legal Sciences Volodymyr Angelsky and the lawyer of the Polish company” Domański Zakrzewski Palinka “Tatiana Koryakina.

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The forms of doing business can be as follows:

1. Contractual form… Doing business in Poland is possible directly from your head office through an existing company in Belarus. Such activities are carried out on the basis of international trade agreements with foreign counterparties.

2. Representation. This is another possible option for an existing company to be present on the Polish market. But please note that you cannot conduct commercial activities through a representative office, since this form is provided only for such actions as market analysis, marketing, search for partners, etc.

3. Foundation of the company. In the event that the specifics of the business provides for a permanent presence in the foreign market, the opening of a local company will be an acceptable form of doing business. Among the advantages of this solution are significantly greater independence, autonomy and speed of making business decisions, as well as the ability to conduct business throughout the European Union.

Foreign entrepreneurs can conduct business in Poland in the form of LLC (limited liability company) or JSC (joint stock company), which is more often used to conduct large business, including for companies listed on the stock exchange, banks, sports clubs, etc. A more popular form of doing business in Poland, as well as in Belarus, is LLC. Among its advantages, it is worth highlighting:

  • Easy to operate and install. The management of the company is carried out through the activities of its bodies: meetings of partners and the board. The company may also have a supervisory body: a supervisory board or an audit committee. Members of the board and supervisory authority are selected by the partners at the meeting
  • Low financial requirements upon opening
  • And also, as the name itself indicates, limitation of partners’ liability. For example, according to Polish law, the partners of a limited liability company are not responsible for the company’s obligations. Responsibility can only be held by members of the board in exceptional cases (for example, if they have not declared bankruptcy of the company, despite the existence of grounds for this).

For detailed instructions from our experts on how to open an LLC in Poland, see the link.

Latvia is an attractive country for opening new and relocating existing Belarusian businesses. AIN Consult partner Antonina Ivanova considers not only territorial proximity and EU membership as advantages, but also transparent legislation and consistently high positions of Latvia in the Doing Business index.


The procedure for opening a company in Latvia is quite simple. The expert recommends using the services of local lawyers: they will prepare all the necessary documents, translate into Latvian and submit the package for registration to the Register of Enterprises. The procedure will take 3 full business days.

Registration fees for setting up a business (LLC) are € 177.
A Belarusian legal entity will need a notarized and apostilled extract from the register of companies.

Before starting a business, check the tax details. Income tax in Latvia is 20%, VAT – 21%. For example, a company is completely exempt from income tax if the income received is reinvested. You should also pay close attention to payments, which the Latvian law equates to the distribution of profits.

It should be noted that there is an Agreement on the avoidance of double taxation between Latvia and the Republic of Belarus. Also note that a company must register for VAT when it reaches an annual turnover of € 40,000. Before that, the company independently decides whether it needs a VAT number.

The amount of tax payments on salaries of employees and the process of obtaining a residence permit are in our material.

Not only Latvia offers optimal tax conditions for business. Cyprus, Malta, Estonia and Lithuania have a simplified and loyal legal framework and also provide tax advantages for entrepreneurs.

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Irina Simonyan, Marketing Director of Henley & Partners Russia & CIS, recommends, when choosing a suitable jurisdiction, to consider each specific situation: the type of activity of the company, its organizational and legal form, the purpose of the owner, the desire or unwillingness to become a resident of the country, and much more:

  • The size of the authorized capital upon registration of the company

  • Corporate tax rate and special conditions for distribution of profits

  • Double taxation treaty with your country

  • Conditions for residents and non-residents

  • Protecting company assets

  • Currency risks

  • Taxation for individuals.

For more details on the benefits of each location for business, follow the link.

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Fidenge Pecold

My profession is a journalist, but my hobby for 8 years has been studying Forex investing and trading. During this time, I managed to gain extensive experience in investing and trading cryptocurrencies and double my capital in the Forex market. To be the author of this magazine, the site owners invited me to participate in one of the 2020 trading webinars, and I will try to reveal the most relevant crypto market news for you.

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