Remote company 101: Let’s open your company abroad
Let’s open a remote company 101, at least; I’m sure that’s your intention if you are reading this. But let’s clarify why do you want/need this a remote company. If you are a digital nomad, an entrepreneur or the owner of a company, you may need a remote company. When you handle clients, or you need to pay employees, you shouldn’t do it from your account.
But this goes beyond the use of banks and Fintech Solutions; you will also need to have prestige. The idea that you represent a successful business doesn’t come just from talent. When you want your clients to rely on you, your portfolio should serve you. When you are more than just an idea or a person, an excellent way to present you is as a company.
If you have a startup or an entrepreneurship and you want to diversify your production and reach, you will need a company. A company registered abroad will be the best option, and this is how our remote company 101 stars.
Choose your country
Why can’t I open my company in my own country? I’m guessing that if you are here, it is because opening a company in your state or your country of residence is not easy. You may have one of the followings (or all) situations; want to expand your market; wish to start a new activity without geographical boundary; you are a digital nomad, or many others alike.
So, it is clear that you are looking for this, let’s go for our remote company 101!
- The United States: you can open a remote company even if you don’t have a visa and you don’t need to be there. It is preferably if you have the opportunity to travel later in the future to arrange things like bank accounts, but your remote company is perfectly manageable from abroad.
- Singapore: if you have a base business in Asia or you wish to expand there, this is a good option for you. One thing is for sure; you will need to have a representative over there or pay somebody to represent you in the country. Once you are all set with your remote company, you can also apply to open bank accounts overseas.
- New Zealand: there are many options when you are going to open a company in this country. You don’t be to a resident but summarizing; you will need to have your business or part of it in there. Also, tax obligations to the country are mandatory. Nevertheless, it is quite easy and fast to open your company, something you can do online and will not demand you to be physically there.
- Panamá: the central American country is a good business if you are hoping to expand there or to the rest of America. A very accessible country thanks to its national airline, and a growing economy. To open your remote company there, you will need to have good capital and at least three directors—a chosen option for established businesses.
- Estonia: if your business has a lot to do with Europe, this is for you. You can apply for the E-Residency online, and you can open your bank account remotely. It is perfect for individuals and companies.
- UK: an excellent place to start a business if you wish to expand to this market. You can open your account online, and Fintech Solutions will be available too.
- Philippines: this tropical country in the middle of the pacific is very interesting for digital business and those interested in the region. It is a high demand country for digital entrepreneur, and you can quickly start your business there without a residency.
- Cyprus: In 10 days for you to register your company in this country. It has many advantages, it is within the EU, open market and you can do anything from abroad. No minimal capital is required, and if you are just starting your business, it will be at your advantage.
- Hong Kong: what about opening to the Chinese market? If you are looking to do something like that, this is the place for you. This state/city is a particular region within the country; hence it enjoys some freedoms, but it is also part of the country. If you wish to expand to this market, you can do it, even remotely.
Determine why do you need your remote company
Different motives may drive your remote company necessities. According to them, you can choose a better type, and country to open your company.
- Digital nomad, best options: a); e); g); h)
- Export/import products to your home country, best options: a); b); c); d); e); f); g); h); i)
- Startup on services, best options: a); e); f); g); h)
- Expansion on your current business, best options: a); b); c); d); e); f); g); h); i)
- Global business, best options: a); b); d); e); f); h); i)
Each country has its prerogatives. After choosing which is best suited for you, take into consideration that you should have to have the capacity to travel to that country. Remember about visa limitations and how it will be noticeable if you own a company in that country.
Once you make a decision, keep in mind that your company should be in an ambient that allows you to do your business is the best way possible. Later on, you will need to select a Fintech Solution and open at least one virtual bank. There are good options available such as N26, Revolut, Mercury Bank, Payoneer and Paypal. The rest is up to you!