How to simplify business set up in complex countries

How to simplify business set up in complex countries

Since 2003, Healy Consultants Group PLC helps multi-national Clients set up their business in complex, challenging and bureaucratic countries. To begin their business as soon as practical, we recommend our Clients keep the corporate structure simple until completion of business setup and corporate bank account opening:

  • Why keep the corporate structure simple?

    1. Many of our multinational Clients have a complex ownership structure, where their operating company is owned by various corporate shareholders and several layers of holding companies;
    2. Unfortunately, most Governments and banks want all shareholders’ and directors’ documents to be legalized and attested and translated into their local language;
    3. Consequently, our Clients’ waste a lot of time organizing and supplying countless documents to a bank or Government; in the exact format these third-parties want! – madness;
    4. To fast secure a company registration number and a corporate bank account number, we recommend our Clients to register a company with the minimum number of individual shareholders, directors and bank signatory. Preferably the same person;
    5. In some countries, such as Pakistan and Egypt, all foreign shareholders and directors must secure a criminal record clearance certificates during a 2-month Government security background check;
    6. In some countries, such as Thailand and Taiwan, foreign shareholders and directors must travel to that country to sign company registration documents in the presence of the Government officer;
    7. In some countries, such as Hong Kong, all foreign shareholders and directors must travel to that country to sign corporate bank account opening forms in the presence of the bank officer;
    8. In some countries, such as Argentina and Brazil, all directors must have a local pre-approved income tax registration number;
    9. In some countries, such as Russia and Saudi Arabia, all directors must have a local residence visa.
  • I want my preferred corporate structure from the beginning!

    1. If requested, Healy Consultants Group PLC will register the new LLC with our Client preferred shareholders and directors. Our passion is to support our Client every way we can;
    2. In our experience, this strategy could result in a 2 to 3 months delay before our Client can legally conduct business in a country;
    3. It is a challenge for our Client to timely collect original signatures on corporate documents from multiple shareholders and directors in multiple countries.
  • How can I sales invoice my Clients as fast as possible?

    1. Healy Consultants Group PLC offers fast solutions to our multi-national Clients’. Within a month, our Client can legally conduct business in a country with i) a company registration and a tax registration number ii) a corporate bank account number including paid up share capital iii) a Government approved office lease agreement;
    2. We achieve this by offering the following fast solutions:
      • A nominee fast solution – Healy Consultants Group PLC registers a new LLC with our local professional, passive nominee shareholder and director and bank signatory. Later we appoint our Client preferred shareholders and directors and bank signatory;
      • A turnkey solution – Healy Consultants Group PLC supplies our Client a dormant LLC with an already approved corporate bank account. Later we appoint our Client preferred shareholders and directors and bank signatory.

  • Nominee fast solution strategy

    1. Step 1: Healy Consultants Group PLC provides our Client the personal and professional due diligence documentation of the proposed nominee shareholder(s) and director(s) for review and approval;
    2. Step 2: A memorandum of understanding (MOU) or nominee service agreement is signed by the nominees and our Client to ensure both parties; interests are protected;
    3. Step 3: We reserve our Client’s preferred company name, complete the company incorporation forms and prepare the draft memorandum and articles of association appointing Healy Consultants nominees. The complete incorporation package is reviewed by our Client before submission to the Company Registrar;
    4. Step 4: The incorporation package is submitted to the Companies Registrar. On approval Healy Consultants receives the original Certificate of Incorporation and company registration number;
    5. Step 5: We prepare a quality corporate bank account opening application to our Client’s preferred bank. The bank reverts with multicurrency corporate bank account numbers within 2 weeks. This process usually takes up to 4 weeks bank signatories, shareholders and/or directors reside overseas;
    6. Step 6: Healy Consultants completes VAT and tax registration for the nominee company within 1 week;
    7. Step 7: For regulated entities, Healy Consultants secures regulatory license(s) as required;
    8. Step 8: In countries where direct ownership is restricted or not permitted by law, our Client operates the nominee company without changing the corporate structure and bank signatory. For other countries, Healy Consultants re-engineers the corporate structure to appoint our Clients preferred shareholder(s) and director(s) and changes the bank signatory;
    9. Step 9: After the corporate structure is changed, in some countries such as Vietnam and Thailand, Healy Consultants will assist secure the Foreign Business License after the applicable capital injection is completed;
    10. Step 10: In some countries such as Indonesia, Healy Consultants will secure a work permit for the foreign director before he is appointed as bank signatory.

    Refer to the below webpages to view a sample of our nominee fast solutions:

    Indonesia (click link)India (click link)Philippines (click link)Venezuela (click link)
  • Turnkey solution strategy

    1. Step 1: Healy Consultants Group PLC provides our Client the corporate due diligence documents of the available shelf company including evidence that i) all government fees are paid up, ii) it has been dormant since incorporation or iii) it is a clean structure with no outstanding liabilities. Healy Consultants also shares the already opened bank account number and recent bank statements;
    2. Step 2: if Healy Consultants is not the shareholder and director nor bank signatory of the turnkey solution, we share the personal and professional due diligence documentation of the existing shareholder(s), director(s) and bank signatory;
    3. Step 3: for companies that have been active since incorporation, if requested by our Client, Healy Consultants will conduct an independent due diligence check before company purchase and transfer;
    4. Step 4: Once our Client is satisfied with the due diligence check, Healy Consultants appoints the preferred bank signatory to the corporate bank account. Refer to this webpage as guidance for this specific process. In some countries, such as Indonesia, Healy Consultants will secure a work permit for the foreign director before he is appointed as bank signatory;
    5. Step 5: On approval of new bank signatory, if a company name change is required, we first confirm the bank will accept to maintain the same corporate bank account number. If yes, we reserve our Client’s preferred company name and prepare the share transfer forms and draft the new memorandum and articles of association for our Client review, signature and courier return;
    6. Step 6: We submit the changes to the Company Registry and obtain the new Share Certificates, Certificate of Incorporation and M&AA under the new company name;
    7. Step 7: The new company details including corporate structure and ultimate beneficial ownership details are then submitted to the bank and tax authority to update their records;
    8. Step 8: For regulated entities, Healy Consultants also updates the change in ownership to the Regulatory Authority;
    9. Step 9: After the corporate structure is changed, in some countries such as Vietnam and Thailand, Healy Consultants will assist secure the Foreign Business License after the applicable capital injection is completed.
  • Conclusion

    1. If you want to invoice your customers fast, you have the three following strategies:
      • Keep the corporate structure simple, by using only one individual as sole shareholder and director and bank signatory;
      • Fast nominee solution – register a new LLC with Aidan Healy (click link) as passive professional nominee director, shareholder and bank signatory. After business set up is complete, our Client appoints their preferred shareholders and directors and bank signatory;
      • Turnkey solution – purchase from us a dormant LLC and an already approved corporate bank account and tax registration number.

Contact us

For additional information on our incorporation services, please email us at email@healyconsultants.com. Alternatively please contact our in-house country expert, Mr. Kunal Fabiani, directly:
client relationship officer - Kunal