50+
Crypto licenses are received on an annual basis
100+
Jurisdictions are poised to take over our customers’ business
75
Foreign bank accounts were opened in 2022
At present, companies are increasingly using cryptocurrency in their transactions. It is an excellent tool for business expansion, asset diversification, and an alternative source of revenue. It is also mandatory to consider security and legality of digital assets. We will opt for a trustworthy cryptocurrency exchange in order to create your corporate account. It is us who will communicate with the manager and fill in the documents and forms. We will configure cryptocurrency security within the company and train the personnel. We are going to provide training on a regular basis afterwards.
- Obtaining crypto licenses
- Ensuring compliance
- Consulting on taxation of cryptocurrency projects
- 02Legal
Competent legal support is an essential step when business shaping and development are under way, primarily abroad. We will be fully in charge of your company’s legal activities so that you can consistently do business. Legal packaging of business ideas and solutions is crucial for both startups and large-scale corporations. We will dig deep into your activities, scrutinize the current documents, and draft new ones taking into account the goals. Our international lawyers are fully aware of doing business abroad.
- Registration and support of companies abroad
- Legal support of digital / IT / crypto businesses abroad
- International tax planning
- 03Relocate
Broud benefits include company relocation outside Russia, an opportunity to obtain a residence permit or citizenship of another country, and capital relocation. We have been legalizing physical persons and businesses for many years in dozens of jurisdictions around the world. We minimize the customers’ involvement while streamlining all the processes. We are going to fill in and file the required documents on your behalf, communicate with relevant agencies, and report on each stage performed.
- Capital relocation
- Assistance in obtaining a residence permit
- Migration of company employees and assets abroad
- 04Finance
Turnkey servicing of bank accounts and money transfers is offered to physical persons and companies. We are ready to collect all the indispensable documents and take them to the bank, as well as to handle accounting. We will assist you in establishing and fostering a strong financial relationship with foreign suppliers or buyers.
- Opening bank accounts/ issuing cards
- Consulting on drawing and paying foreign invoices
- Consulting on dealing with SWIFT/SEPA transfers
International Law Firm BROUD
We apply a state-of-the-art approach to solving common legal issues. A specialist assigned to each customer blends with their company and becomes part of it. For this reason, we replenish your resources rather than waste them.
Not only does the outcome matter to us. We are aspiring to act as a reliable partner which is always willing to settle any international business issues.
Three key words associated with Broud
CONFIDENTIALITY
This key principle underpins the activities of legal practitioners who respect both their customers and themselves. Privacy of your personal and commercial data is guaranteed. We value the good name of ours and the customer.
LIMITLESSNESS
Our capacities, jurisdictions, and applicable tools are unlimited. We are passionate about overcoming the new challenges which seem to be insurmountable.
TIMELINESS
We are committed to meeting the deadlines while resolving your issue. We tend to be forward-looking given our capacities, the current news agenda, and continuous amendments to the legislation worldwide.
FAQ
- Reclocation
- Finance
- Crypto
- Legal
- Is business relocation time-consuming and costly?
No, it is not. Actually, it depends on the goal. For example, the registration costs at least $1,000 and takes up to a month in the CIS countries. As for the Far Shore, it is presumably more expensive but not longer. Some solutions are simpler. For instance, establishing a new company may turn out to be more lucrative. Your goals play a pivotal role.
- Does business relocation to another country incur a tax liability in Russia?
Numerous customers would like to set up a foreign branch or representative office but it is often inexpedient. An independent company which will have nothing to do with the parent company, except for an owner, may also be established. This will not incur any tax liabilities associated with the controlled foreign company (CFC) in Russia.
- Which means protect my business from political changes in another country?
The legislation applicable in the country where you are going to move protects it. Your business will not be in jeopardy in most locations. For example, developed countries, where business is less susceptible to change, will be safer than developing ones. However, there is no 100% guarantee in any case.
- In addition to passports and visas, which formalities are needed for moving abroad with a family?
If you make the right choice of a destination and have all the documents and visas ready, nothing but money is needed. Specifically, medical insurance is also often required. Undoubtedly, it is advisable to book accommodation in advance so that you can feel comfortable. Nonetheless, the country chosen underlies all further actions. Basically, it should be suitable for achieving your long-term goals.
- How should a country for relocation be chosen?
You should have a clear understanding of the reason why you are relocating, be it your willingness to move your business abroad or start a new life. Some countries are favorable for business rather than for family relocation and vice versa. Later on, the current input data ought to be taken into account because the situation is ever-changing. There are multiple options available but you need to be guided by your wishes, goals, and capacities. Consulting contributes to making the right decision.
- Are there any legitimate ways to pay foreign invoices from Russia?
Yes, there are some ways. To date, it depends on the contracting party’s desire to collaborate with Russian companies and the Russian banks’ right to accept payments or wire them to other countries. In theory, you may even collaborate with companies from unfriendly countries if you have an account in Raiffeisenbank, OTP Bank, or UniCredit Bank and your contracting partner consents to work with you. The latter matters because there may be some specific conditions and restrictions in their country.
- Which actions should be taken to comply with sanctions while paying for foreign goods?
No actions will entitle you to pay for the goods under sanctions from Russia. It is worth circumventing the sanctions. For instance, a company may be established in the third country on which no sanctions are imposed. We dwell upon this issue and provide guidance as part of consulting.
- Some of my suppliers are from abroad. May I pay for their products and services in cryptocurrency?
Yes, you may if your foreign supplier accepts this kind of payment. Although you will be able to make the payment, it will be impossible to officially register it because this payment method fits into the gray zone both in Russia and in Europe. This transaction will not be traceable at the customs office and questions will arise. However, you may pay for services without any trouble.
- Which countries are now letting the Russians open bank accounts?
The CIS countries, Türkiye, China, the USA, Canada, and many other countries are poised to let you open an account if you are a tourist who visits their banks in person. This also may be executed remotely but it is certainly much more complicated and time-consuming.
- I would like to purchase real estate abroad. How can you help me do it?
We can assign a real estate agent or look for particular real estate for you if you have a specific request. Moreover, we can render all-encompassing documentary support of the deal at all the stages in almost all countries of the world.
- Is it currently legitimate for Russian business to use cryptocurrency?
Currently, business is allowed to buy cryptocurrency as a valuable asset and an investment facility but it cannot be used as a legitimate means of payment.
- Do I have to pay taxes in Russia if I use cryptocurrency?
Being a physical person and a tax resident of Russia, you may make any transactions using cryptocurrency and are obliged to declare your total income via filing the personal income tax form (NDFL-3). If you make payments in cryptocurrency, there is no point in declaring anything.
- Which risks does business take while using cryptocurrency in transactions?
At present, cryptocurrency is not a legitimate means of payment. It is deemed as a so-called valuable asset which has a market price, just like e.g. gold coins or bars. The greatest risk related to paying in cryptocurrency is as follows: your contracting partner may state that no payment has taken place. Thus you will have to do your utmost to prove this fact in court. The thing is that cryptocurrency is a depersonalized asset. Therefore, it is not subject to control. Screenshots from a wallet cannot be regarded as legal proof. We may find reliable contracting partners for you and act as a guarantor of the transaction.
- Can acceptance of payments in cryptocurrency be integrated in online business?
Yes, it can be integrated but it is necessary to choose a country where it is more or less legitimate and licensed. Thus you will feel safe. Some Eastern European countries will be appropriate for that.
- Is it legitimate to use cryptocurrency in international payments?
If you purchase cryptocurrency on legal grounds, no restrictions will be applicable to it. When this transaction is made, no law is violated. Still, you should realize that your position is vulnerable because the customer will perhaps decide to behave unfairly. We have spelled out more risk-related details in Question 3.
- In which countries is taxation especially advantageous for business?
The population of some countries does not have to pay taxes at all or pays minimum ones. Most of them, e.g. Hong Kong, the Canadian, Scottish, Irish, and English Limited Partnerships, the British Isles, and the Virgin Islands, follow the offshore scheme. You may also consider free trade zones of the United Arab Emirates as tax haven until you reach a particular level of profit. There are lots of special tax regimes applicable to specific activities. For instance, there are some IT startup zones in Georgia, Armenia, etc.
- May I set up my own business abroad without resorting to a lawyer’s assistance?
Yes, definitely you may. Having chosen the destination, you should only make inquiries about the local company registration procedure and open the account or hire a registration agent for this purpose who will help you avoid any mistakes. If you want to consider all the options available and pinpoint the most advantageous one, a lawyer will help you build a smart strategy very quickly, given your long-term plans. Furthermore, the content of this website may let you get into the swing of things on your own.
- Do I have to pay taxes in Russia if I do business in another country?
There is no unequivocal answer to this question. It depends on the relationship between these two countries and your location. Roughly speaking, if your sojourn abroad is legitimate and you are not a tax resident of Russia, you do not have to pay any taxes there. If you reside in Russia and own a foreign company, you must notify the Tax Inspectorate of the controlled foreign company (CFC) and pay taxes. Yet, there are plenty of individual cases. We can discuss them in the chat.
- How should business be run internationally for tax amount minimization?
It is necessary to streamline the chain of relations between companies. The second one should belong to a tax-free or low-tax jurisdiction and have nothing to do with the country of origin of your business. If the beneficiary is not a tax resident of the country of origin, this will also make it possible to reduce the tax burden. It is important to understand that the countries are now not exchanging any tax information, which is an advantage for you.
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