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The logistics performance index of Ukraine is 2.98. It indicates a satisfactory performance - in general, traffic is handeled well, some flaws in certain areas are possible, but overall the logistics system performs reliably and is ready to handle predictable amounts of traffic.
Customs performance is rated at 2.69. It indicates a satisfactory performance - the customs clearance procedure is effective in general, although long time can occasionally be a problem; the customs system certainly does not discourage international business activity; documents and fees needed are usually publicly available.
Infrastructure quality in Ukraine is rated to be at 2.65. It indicates a satisfactory quality - roads, railroad, ports and other facilities are able to handle significant traffic at all times and are also suited to various types of transport vehicles and vessels.
International shipment quality is 2.95. It indicates a satisfactory performance - the services are adequate and the prices are not too high and usually accurately match the quality, although there is still room for improvement.
The competence of logistics service providers is valued at 2.84. The providers are competent - they ensure a good quality in their services, maintaining this level at almost all times; flaws, while still possible, are usually minor and don't discourage the further employment of the providers.
Tracking possibilities for shipments are rated at 3.2. It indicates a satisfactory performance - the tracking systems provide all the basic information as well as additional data about shipments; most of the times it also has a weel established cooperation with foreign and international tracking systems, as well as usually provides information in multiple languages.
Tracking possibilities for shipments are rated at 3.51. It indicates a satisfactory performance - most of the shipments arrive timely and within the scheduled time brackets; late arrivals are still possible, although uncommon.
In Ukraine, 100% of the population has access to electricity. Ukraine has 187 airports nationwide. There are 2,173,000 internet hosts in Ukraine. The number of road motor vehicles per 1000 inhabitants in Ukraine is 8.
Road network The total road length in Ukraine is 169,496 km (105,342 miles). Out of them 199 km (124 miles) of roads are classified as motorways, freeways, or autobahns.
Gas price On average, you would pay 1.17 USD for one liter of gasoline in Ukraine. One liter of diesel would cost 0.71 USD.
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Order one of the provided Indonesian individual support or wealth management services and we shall provide you a custom, tailor-made solution. Confidus Solutions, collaborates with a number of professionals from different industries, develops an efficient strategy and creates a unique solution designed for each customer specifically. Once the communication is established, you will receive a list of documents and information required to proceed.
Support and legal services in Indonesia Confidus Solutions employs a wide range of experts in different fields: lawyers, real estate experts, bank agents, accountants, tax consultants, and other professionals. Our company's representatives have vast experience dealing with individual clients, providing wealth management, personal tax planning, due diligence as well as transaction assistance services. Confidus individual services can provide you tailor-made solutions in Indonesia
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Indonesia is the largest archipelago in the world and is located between the mainland South-East Asia and Australia. The country consists of over 17,000 islands from which only 6,000 are inhabited. Because of its complex and unique geographical position, Indonesia is extremely diverse in its ecosystem and fascinating with its heritage and history.
Business environment in Indonesia The Indonesian government has worked hard on regulatory and legal reforms to make the country more attractive for foreign investments which play an important role in the Indonesian economy. Indonesia is the producer and exporter of oil and gas, various mining products, such as nickel, coal and tin, as well as agricultural products and fishery. Local and international banks and other non-banking financial institutions are major source of funds in Indonesia.
In Indonesia, as in many other countries around the world, prevailing cultural norms are reflected also in the business environment. Due to this aspect, businesses in Indonesia tend to be highly hierarchical with all the decision-making controlled by a small group of senior management. Similarly, the same sense of hierarchy transfers to the whole organisation where employees prefer the manager making the decisions and allocating tasks. Meanwhile, initiative and proactive thinking are viewed as criticism of the management rather than a positive and desired action from an employee. The hierarchical nature of most organisations and especially state institutions give rise to a vast bureaucracy.
Business structures in Indonesia There are several possible types of business structures in India and each investor should carefully consider the most appropriate structure of his or her business taking into account the industry, the number of employees, the capital structure and various other aspects.
Limited liability company (PT) Limited liability company, or Perseroan Terbatas (PT) in Indonesia is the most popular type of business structure among local entrepreneurs. A PT requires one director, one commissioner (can be a non-resident) and at least two local shareholders. Key responsibilities of the commissioner are the supervision of the company, examination of the annual reports and approval of the budget plan prepared by the Board of Directors.
According to the company law, Limited liability companies are further divided into following categories:
Micro Company – if net capital does not exceed 50 million rupiahs (3,745 USD) (excluding buildings and land) or annual sales turnover does not exceed 300 million rupiahs (22,171 USD). Small Company - if net capital is between 50 and 500 million rupiahs (3,745 USD to 37,435 USD) or annual sales turnover is between 300 million and 2.5 billion rupiahs (22,171 USD to 184,763 USD. Medium Company - if net capital is between 500 million and 10 billion rupiahs (37,435 USD to 739,053 USD) or annual sales turnover is between 2.5 and 50 billion rupiahs (184,763 USD to 3,695,267 USD). Large Company – if net capital is over 10 billion rupiahs (739,053 USD) or its annual sales turnover is more than 50 billion rupiahs (3,695,267 USD). If foreigners are employed in the company, it has to be at least medium-sized. As the incorporation of a PMA generally takes a significant amount of time, it is possible to use the Indonesian nominees for the initial setup of an LLC in order to reduce the incorporation procedure by approximately 2 months.
Foreign owned LLC (PMA) If a limited liability company is partly or wholly owned by foreign investors it is called Penanaman Modal Asing (PMA). PMA is required to receive an approval from the Capital Investment Coordinating Board before any business activity can take place in Indonesia. Furthermore, under this business structure, the owners are required to present a business plan for a minimum of 1.2 million USD and deposit at least 300,000 USD as share capital.
PMA requires at least one resident director, two shareholders and one commissioner. In case the company is fully owned by foreigners, the owners are obliged to sell at least 5% of the company to an Indonesian citizen or a domestic business within the first 15 years of its incorporation. There are particular industries, in which foreign businesses need to obtain operating licenses in order to operate. Some business sectors are fully restricted to foreign companies or only allow businesses with partial foreign ownership. For example, in the mining sector at least 20% of the company needs to be owned by a local shareholder within 5 years since its incorporation.
Public companies According to the Indonesian Company Law, public companies are required to have a minimum of 300 shareholders and at least 3 billion rupiahs as paid-up capital. While public companies are subject to more strict regulatory provision if compared to PT or PMA, it is not compulsory for public companies to be listed on PT Bursa Efek Indonesia (national stock exchange).
Partnerships Partnership in Indonesia is a common type of business structure, but only Indonesian nationals are allowed to form partnerships.
Persekutuan Perdata (PP) – partnership between two or sometimes more people with an aim to make a profit. Firma (Fa) – open partnership incorporated to hold a business name used by trading and service enterprises. Persekutuan Komanditer (CV) – a limited partnership with one partner allowed investing money in the business and not managing the company.
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Online banking, also known as virtual, internet, or e-banking, is an electronic payment system that offers customers of a bank or other financial institution the ability to complete a variety of financial transactions through the bank's website. Because online banking is heavily dependent on Internet access and penetration, the first e-banking services were launched in New York in the early 1980s, dubbed "Home Banking". Today, account management via online banking is very popular.
While e-banking has been around for some time, mobile banking is a relatively new service offered by financial institutions. Due to the growing popularity of smartphones, more and more banks are developing their own mobile banking applications. In 2015, 90% of US bank customers had used mobile banking to check their balance or recent transactions in the last 12 months. Some banks are hard at work developing new tools in addition to the traditional bank account management services available through their smartphone apps.
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The benefits of using nominee services are evident in cases where a business owner wishes to maintain their privacy and reduce access to official records or does not want their name to be associated with the business in question. In addition, there may be situations where an individual has restrictions on performing the proposed activity or where the law requires local management, such as a local secretary in Hong Kong.
When quick action is required to register a company abroad in the event the client is unable to travel, it is often more convenient to temporarily appoint a local company director. When intending to open a business in a foreign jurisdiction such as BVI, Belize or Hong Kong, it can be physically difficult to appear in person.
Nominee services usually guarantee confidentiality and anonymity. However, disclosure is sometimes made to banks or investigative authorities during court proceedings.
The nominee services are often used for tax planning and wealth protection purposes. If the ultimate beneficiary of the full corporate structure resides in low-tax jurisdictions, it should enjoy the benefits of the low-tax regime for the dividends received from the profits generated.
Other benefits derive from the country of registration and are often related to financial statements and reports. In some tax haven jurisdictions there is no need for annual filing, hence low auditing and accounting requirements which offer certain advantages if the individual is willing to increase privacy and confidentiality and hide their assets.
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South Korea enjoys a good reputation among other countries worldwide when it comes to company formation. However, there are some basic precautions that must be taken into account when doing business in this country. For example, government transactions required to complete corporate documents are conducted in Korean. Because of this, there may be times when you need the help of a professional who speaks this language to settle business matters.
Doing business in South Korea Another requirement is that if he or she is a South Korean shareholder, the joint venture partner should not be a nominee in order to comply with the foreign company incorporation rules. Due to Confucian ethics, Koreans respect senior members of every community, including the business community; Therefore, senior business partners are welcome to attend important business meetings when concluding contracts with Korean customers or suppliers.
When starting a business in South Korea, documents such as tax returns and audited financial statements should be submitted to the country's authorities. To effectively fulfill this annual legal obligation, you may need professional advice from a Korean business specialist.
Business structures available in South Korea There is a Korean commercial law, the Commercial Code of Korea, which provides for three main types of business organizations: private companies, corporations, and offices. Corporations are usually divided into General Partnership (GP), Limited Liability Partnership (LLP), Joint Stock Corporation (JSC), and Limited Liability Corporation (LLC).
In general, there are several business structures in South Korea these days: local companies, private companies, branch offices, and liaison offices. There are two types of corporations when it comes to incorporating a local corporation (company): a joint stock company (company) or JSC and a limited liability company (company) or LLC. The number of LLC shareholders usually does not exceed 50 and there are no board requirements. JSC must have at least one Director who is elected and represents the Board of Directors.
Private business also includes investments of the same amount. Such businesses are often treated as a local entity as the owner takes any profits made while doing business and has unlimited liability. On the other hand, a branch is when there is a representative of a foreign company under a Korean branch that needs to be registered with the court.
Business forms In a partnership, the members have unlimited liabilities, meaning that each member has the power to represent the company, who is obligated to repay the company's debts in the event that it fails to repay its debts. However, the transfer of ownership is limited. In a limited partnership, the members have unlimited liabilities and limited liabilities. Unrestricted Members have the authority to conduct the corporate affairs of the Company. Limited Liability Members participate in the Company only through capital contributions and have no executive powers.
Korean company formation requirements and restrictions In case if a foreigner wants to register himself as a foreigner-invested business - JSC or LLC the investment amount not less than 100 million is needed. Shares in such companies not necessarily must be held by Korean resident shareholders. JSC and LLC have higher compliance and administrative requirements than other business structure referred to as Branch office. There must be minimum two partners who are not limited by nationality. There are restricted series of sectors for foreign investment existing.
Branch office usually is not recognized as direct foreign investment and is treated as a single legal entity with no limits regarding investment or ownership and no requirements regarding formal incorporation while having rights to engage in sales activity that is why they are best for small-scale operations with an opportunity to move to a local subsidiary later in case it will be needed. Branch office establishment procedure is simpler than as it is with the previous business structure described.
Liaison office usually undertakes non-sales function referred to as market research etc. while not carrying out business that generates profits in the country. It is a business activity which is usually conducted in the name of the parent company. It is quite simple to establish. Such business structure must have been registered at the tax department while being also granted a distinct number, stating business registration.