Moldova client case studies in 2024
Registering a recruitment agency for a foreign investor
Background
- In March 2019, a Maltese Client contacted Petar from our Healy Consultants Group European office with the goal to register a new recruitment, business visa and relocation advisory agency in Moldova, a country potentially joining EU over the coming years.
- Moldova introduced a new business investor regime recently which attracted many foreign investors looking to relocate to Europe and potentially in EU once Moldova joins the economic block. As such, registering a recruitment agency and bringing already established know-how as primary business for the parent company offers unique opportunity for successful business expansion.
Engagement planning
- Petar and his team prepared a detailed proposal in late February and began drafting the needed incorporation forms and power of attorney to be signed off by our Client and legalized abroad, in Malta.
- Healy Consultants Group’s project management team transparently supplied our Clienn with a detailed project plan (in 2 pages) outlining the steps required to complete the engagement by dates and deliverables;
- As part of the engagement, Petar prepared a detailed business plan outlining the business activity of our Client when communicating with global banks;
- As usual company policy, Petar supplied weekly detailed engagement status updates to our Maltese Client to ensure all parties are advancing swift company formation;
- The company was incorporated within a business week from preparing the legalized document set in Malta, which was appreciated by our Client.
Resident corporate bank account opening
- Because our Client decided to travel to Moldova, Petar and his team organized a meeting with one of the top commercial banks in the country. As requested, the Client supplied requested extended due diligence documents including i) latest proof of address for the business owner and their Maltese business ii) latest 6-months bank account statements iii) latest identification document copy iv) and proof of personal and business address;
- The bank generated corporate bank account opening numbers within 2 business days from the meeting and sent our Client an online banking e-certificate directly and independently to the business owner, allowing him to manage his business banking from anywhere in the world.
Conclusion
The Moldovan company formation engagement was swiftly and efficiently completed by Petar and his team with minimal hassle for our Client and two business weeks ahead of engagement planning, ensuring our Client can begin operations and utilize their recruitment agency license.
