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Ask the Experts: Heather Landau

Company Formation Expert

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Heather has developed a wealth of experience in the company formation industry. Heather has assisted hundreds of businesses from a diverse range of industries throughout UK and Europe set up a company in America, the UAE, Russia and Europe. Heather has built a depth of understanding into both culture, commerce and the civilisation in each of the countries in which Open A European Company establishes companies. Prior to Open A European Company, Heather managed her own marketing agency deploying online and offline marketing campaigns in the UK and throughout Europe.

www.openaeuropeancompany.com/

0208 421 7470

1. Dear Heather, I have 7 years experiences in spa therapist job.Now I am looking for a chance to open my own spa business in Finland (I have been working in Finland for 1.3 years as a spa therapist and I have a working visa).I have Thai passport. I try so hard to find out the informations how to start up the business in Finland as a self-employment.But there are so many organizations related here and I still don't know where should I start? If you could give me some advice step by step ? I have to be very hurry because my working visa is going to finish next month. My english is not quite good and I don't speak finnish so it's very difficult to find the informations here. .Thank you very much in advance for you help. Best regards, P Question from woramon sukprasert on 05/09/2010

   Heather says:

   Dear P
   
   Thank you for your question. I would suggest that when you are setting up in business in Finland you should set up a single shareholder company so that your liabilities are covered. I can cover this in more detail if you give me a call on +44 (0)208 421 7470.
   
   You will possibly need a residence permit
   
    Residence permit for Non-EU nationals 950€
    Worker’s residence permit for Non-EU nationals 850€
   
   
   Normally it takes around 6-8 weeks to get the worker’s residence permit/ residence permit to Finland. Applications fees are €300/adult (renewals: €200/adult) and there is a Government fee for non EU-citizens.
   
   Please let me know if you need any additional information.
   

2. Hi Heather, this question is about a financial services company that i am doing due diligence in before i make my next move. I have found out they are registered in Sweden, but are registered under sector 110 which is a non-financial corporations SCB. Now this immediately rung alarm bells for me, why would they register as this when they are clearly offering financial services, is this illegal? Thanks in advance for answering my question. cdru007 Question from Caleb Drumm on 01/09/2010

   Heather says:

   Hi
   
   You may or may not be right. Some countries allow for financial corporations under a generic registration process. The company is defined by its articles and what is contained therein. When we have registered a company in Sweden or indeed anywhere in Europe, we have always given the activity of the company but whether this is then ascribed to a particular company register you would need to check.
   
   I would suggest that you take some legal advice if you are thinking of doing anything with this financial services company. We have a trusted law firm we always use for these type of queries. Please contact me directly should you need any further assistance with this on +44 (0)208 4217470.
   
   

3. hello heather, thanks for taking out your precious time for reading my query...u are really doing great work may god bless u as u help so many people who may be hell confused.. i wanna open a company in hungary i will be the sole director and i reside in asia . i will be importing products to hungary for distribution in other parts of europe. can i be sole owner in the company, do i need to obtain any lisense for the importation, how much money would be costing me to open a company with the account plse tell me the legal charges and the charges for the consultant apart but plse tell me the complete amount of charges i need to knw for the formation of a company there.. Question from abcd ab on 28/08/2010

   Heather says:

   Thank you for your enquiry. Setting up in Hungary is fairly quick and easy as long as you are ready to visit. If you cannot visit Hungary then the time to create the company will obviously be longer.
   
   Yes, you can be sole owner of the company and no you do not require a licence for import unless it's very specific. As you have not told me what you are importing I cannot really give you a 100% accurate response to this question. The company will cost around £2,499 to incorporate and this will include the formation itself and the VAT application. A registered office only is required to incorporate - £150 ex vat per month payable annually in advance. This includes mail forwarding. You will need an accountant from the beginning to ensure that the company accounts and returns are submitted on time. Basic accountancy fees are from approximately £250 per month to give you an indication of what you will need to budget for.
   
   I trust that this answers your question. Please let me know if you need anything further.
   
   

4. Hello Heather I work in a small UK based manufacturing business who make and sell accessories to the leisure industry, notably camping and caravaning accessories. The business is solely based in the UK at present, importing from China, but we would like to expand into Australia where we feel there would be a good market for our products. I am a UK citizen with a UK passport only. What is the feasibility of expanding into Australia? What would be the costs? What sort of visa would be required? Is this a possibility? Thanks Question from Malcolm Hill on 23/08/2010

   Heather says:

   In Australia, Propriety companies are divided into two classifications: Small businesses and large businesses. This is worked out according to whether the business meets two out of three criteria; Where consolidated revenue and operating revenue exceeds A$ 25 million, where consolidated and gross assets exceed A$ 12.5 million and where the company and its controlled entities have 50 or more employees. Small propriety businesses are not required to adhere to certain financial reports with their annual returns and it is not mandatory to hold annual general meetings.
   
   The minimum number of directors is one, and they must be an Australian resident. Any further person(s) appointed as a director of an Australian company do not have to be residents. If you do not have a resident director in place, we can arrange for one to be appointed for you. Please see our prices below.
   
   If a company instates a Secretary then they must be an Australian resident. If a secretary is not appointed, the Australian government looks to the directors to fulfil the secretary’s job. As stated with the directors, any additional secretary will not have to be a resident of Australia. We can provide a nominee secretary for you. See below for prices.
   
   Our fees for Australia are as follows:
   Company Formation- £850
   Resident company Secretary- £500 per secretary (per annum).
   Provision of Registered Office- £150 (per annum)
   Resident Director- £1,800 per director (per annum)
   Bank account- £750
   Mail forwarding (excl. postage)- £540 (per annum)
   Virtual Office- £220 (per month) plus a £660 refundable deposit
   One-off set up fee- £150
   There is a fee due in the second year to the Australian authorities (ASIC) of £250 for an annual review.
   
   All prices do not include VAT.
   
   We are a company formation agency, and we do not really advise with Visas. It is best to contact the Australian embassy for any visa issues you may have.
   
   We are more than happy to guide you through every step of your company formation, and if you have any further questions then please do contact me.
   

5. Hello Heather, We are the owners of a vacation rental website. We are looking to expand our business and would like to purchase a rental car company. We are currently operating in Spain and would like to know what kind of licenses are needed to run a car hire company. Question from maiteland marks on 23/08/2010

   Heather says:

   Thank you very much for your enquiry. We are a company formations agency and would be very happy to assist you in forming the company in Spain.
   
   We are happy to find out information regarding licences for a car rental firm in Spain. We will charge a fee for this service as we would have to take advice from our solicitors based in Spain. The usual charge for this research is between €500-750.
   
   I look forward to hearing from you soon.

6. i would like to start a small tourism business (like a b&b) in italy. (south or puglia or sicily). it is possible with a uk based business? (i have a skilled work permit for UK but not a british passport) . i would like to minimise costs/risk by keeping it very small and running it only for one season to start with so using a commercial leased space. just starting research now.. is any of this possible? thank you. danielle Question from danielle ridgway on 17/08/2010

   Heather says:

   You will need to open a company in Italy. The company formation cost would be £4999 including bank account introduction and VAT application. Which passport do you hold? Important because One of the directors must be an EU citizen.
   

7. hello Hether, I am an Indian Citizen, Male with age 35 years, wishing to start an export import business in any of the country in EU. After lot of surfing on web I found that slovakia, denmark or finland are better ones. I have a capital of about USD 6,00,000 now. In my export import business I am supposed to import goods from south asian countries and sell it in the Europe Market. Please tell me which country would be better according todays market scenario in starting my business so that I can earn maximum profit? also assist me with the requirement, eligibility, taxes related to export import trade.... Question from Anurag Nikhare on 12/08/2010

   Heather says:

   Hello Anurag,
   I would not reccomment Denmark as it is too expensive to start a business (minimum share capital needed is €10,000 and it would cost you £2699 for company formation. Finland would be a bit too difficult. We do not cater to Slovakia incorporations at the moment. It would be a good idea to open a company in the UK as it is relatively easy and requiring a share capital next to nothing. UK formations cost you from £99 to £500 only.
   
   I would be happy to answer any further questions if you may have.
   
   Kind Regards,
   Heather

8. At present I live in England but I would like to start a business in Portugal as Im Portuguese. I thought about open a small shop in Lisbon something similiar to Body Care in England. I just come back from Lisbon and the price of the essentials are very high, so I thought in exporting from England to Portugal. I habe some ideas however I not sure how to start it, what I need to know and how much I need. I hope you be able to help me. Thanks for your time. Question from nadia santos on 10/08/2010

   Heather says:

   Dear Nadia,
   If the company has only one shareholder, then the good option is to set up a Single Shareholder Limited Liability Company. Minimum share capital is €5000. An accountant needs to be appointed prior to incorporation. Our fee for Company formation including bank account set up and VAT registration is £3499 ex VAT. For any other questions please call me directly on +44 208 421 7470
   

9. Hi Heather I'm a consultant in the pay-Tv/Telecoms sector and looking to set up a new consulting business with a long-term friend/colleague, targeting clients mainly in Central /Eastern Europe (we would expect to do almost no business in the UK at all). I live in Switzerland and my colleague lives in the UK (we're both UK citizens). I'd like to find a jurisdiction for our new business that meets the following: - low set-up costs - low ongoing registration/incorporation costs (eg annual registration fees) - low (preferably zero) corporation tax - low administration overhead (time & money) --- it would be ideal if there were NO VAT requirements and no tax filings (our business model will be very simple and I'm happy to do basic book-keeping) - easy to set up banking arrangements (ie with reputable banks that offer online banking services) - credible jurisdiction that doesn't make us or our business look dubious ! I was thinking of IOM, Guernsey (or Jersey, but Guernsey seems cheaper) -- but it looks like IOM potentially involves VAT headaches, so have been narrowing down towards Guernsey. I've looked at BVI, Seychelles etc in the past and these can be done quite cheaply - but could be a hassle with banking etc. Any suggestions on best jurisdiction and also where to go for incorporation help? I have seen companies quoting anything from $199 to £3000 for Guernsey !!! I want to get it done properly, but not pay through the nose for it either ! thanks - John Question from John Edwards on 27/07/2010

   Heather says:

   Hi John
   
   Thanks for the enquiry!
   
   I would suggest Seychelles as you are looking for a low cost low maintenance jurisdiction. We have a good relationship with Barclays bank in the Seychelles and can open this remotely - online banking is not a problem here. Our fees are very competitive for this jurisidiction in the region of £750 and £500 on top for assistance with bank account set up.
   
   Any other questions please call me directly on +44 208 421 7470

10. Dear Sirs, We are a group of young european architects, (mainly Spanish, Italian and English). We are thinking of setting up our office and we are writing you today as we would like to know if it is possible to base our company in Hungary We would appreciate if you could give some insight about the process and also what would be the average time this process will take and its costs. We would also like to know the tax conditions both for companies and individuals Thank you very much, Kind regards. Pedro garcia Question from Pedro Garcia on 22/06/2010

    Heather says:

    Dear Pedro
    
    Hungary is a fairly easy jurisdiction in which to set up and all formation formalities can be done within a day. Share capital EU2,000 has to be deposited and you will most definitely require an accountant in order to fulfil tax obligations in Hungary. Tax reporting is fairly onerous but a good accountant will ensure all filings are done in good time.
    
    Average time scales for setting up the company, bank account and VAT registration is around 5 days providing that you are able to visit Hungary. Fees: £2,499 ex vat including formation, bank introduction and VAT application. If you need a registered office only - £150 +VAT per month, payable annually in advance. This includes mail forwarding. If you need a serviced office then this can be done also for you dependant upon the amount of workstations you require.
    
    We can assist you with the entire process whether you are looking at the formation only or a full office package. Please call me on +44 (208) 421 7470

11. HI Steven, I wonder if you Kindly help me, actually I am a Belgium Citizen & I want to start a Wholesale business in Brussels. I have planned to sell Carpets (All Type), Bedsheets, Table Cover & Asian Traditional Women Dresses. So, I didn't know about the market of there too much because I am not living there for a decade. I planned to import these products from China (because of low price which would be important for selling products in recession) and from Pakistan (because I had a production plant there). So, could you please give me the best advice that is this business would be good enough to start there & please provide me some good and better ideas aswel. THANKS BEST REGARDS, Sohaib Sheikh Question from Sohaib Ijaz Sheikh on 23/05/2010

    Heather says:

    Dear Sohaib
    
    You will need to set up a Belgian trading company called a Sprl. or Bvba dependant in which part of Belgium you are living in.
    
    The company has to have at least one shareholder and a minimum of one director. You will need to put in at least EU6200 share capital for one shareholder and EU12,400 for two shareholders. This share capital can be used against company expenditure.
    
    Timescales are around 2 weeks to form the company.
    
    Please do not hesitate to contact me on +44 208 421 7470 if you have any further questions

12. Dear Heather, Could you please advice me on the options of speeding up the registration process in Switzerland? And are there options to have a company registered on a temporarily basis? What is the best/fastest way of registring if it needs to be done fast and possibly for just a number of transactions? Thank you. Question from Hetty van Doorn on 15/05/2010

    Heather says:

    Hi
    
    The only way that you can speed up the registration process in Switzerland is to use a ready made company that has already made up. All that needs to be done is to effect the transfer of the shareholders and directors.
    
    Standard timescales for a new company formation in Switzerland can be two weeks if you are willing to travel to Switzerland to set up. We can deal with the whole process for you.
    
    Please contact my colleague Byron Sachdev on +44 (0)208 421 7470 for further information

13. Hello, We (our company) would like to establish a company in Norway, sphere of operations - commercial services. I have studied all related information in internet (including the information on your website), so the process in general is more or less understood. The question is: do your company provide the service of preparation all needed documents and registration of the company. If yes, how long it will take and what are your fees for such service? Thank you in advance, Jana Ilves Question from Jana Ilves on 26/01/2010

    Heather says:

    Dear Jana
    
    Thank you for your enquiry to Open A European Company.com.
    
    Yes, we can certainly assist in all aspects of incorporating a Ltd company in Norway. You will need a minimum of one shareholder and a board of directors is required. At least half of the board members must be EU passport holders.
    
    The whole process takes approximately 2 weeks (dependent upon quick supply of information).
    
    Please email me on info@openaeuropeancompany.com and I will certainly forward you fees. However,You are roughly looking at around £3,000 for the company,bank account and VAT registration and about £1200 for a registered office for the year.
    
    Accountancy is according to turnover and number of invoices, please confirm and we will provide you wtih a quote..
    
    Please do not hesitate to contact me should you need any further assistance.

14. Dear madam Good day I want to introduce my self. My name is sarfraz asif, I am Pakistani Christian. Now I want to establish small business (open bar) in Czech Republic. In this regards I need your help what is process of open bar or restaurant in Czech, and I need feasibility. Looking your assistance. Thanks and best regards, Sarfraz asif D-5, central govt. employees society, Gulshan-e-iqbal, block-10 A, Karachi Cell: 0092-301-8232733 Question from Anonymous on 08/01/2010

    Heather says:

    Dear Sarfraz
    
    Establishing a restaurant or bar in Czech Republic or, indeed, any part of Europe will imply obtaining licenses for operating a restaurant or bar.
    
    When you set up a company in the Czech Republic in particular each company will need to have lthe appropriate licences registered. This will be done at the same time as the company is being formed. Restaurant licences may typically be more lengthy dependant upon what type of bar or restaurant you set up
    
    The company itself will take around 2 weeks to set up and VAT is registered after this.
    
    If you need further details, I would be happy to discuss this further with you. My email is info@openaeuropeancompany.com.
    
    Regards
    
    Heather

15. Good morning. We are a UK based group with a branch in Prague currently employing 1 person. We have appointed another perosn to work for us in Prague, who is a Czech national. Rather than run a separate payroll we would like to pay the person via the UK payroll. Can you please tell me if we can do this, if they are subject to UK tax and national insurance and what taxes will they have to pay in the Czech Republic. Many thanks, Martin Wakelam Question from Anonymous on 08/01/2010

    Heather says:

    Good morning Martin!
    
    Having reviewed your query I need to underline that I am not a tax advisor but my first thought based upon experience with clients who have branches and this particular set up is as follows:
    
    If you have a branch and you have staff in the country in which you have set up the branch then you need to have local payroll. You will need to pay local social insurance etc for this staff member.
    
    However, in order to be more precise and gain the required benefits and avoid any confilict with the tax office and other government authorities, our Czech associate estimates that 3 hours of reesarch regarding Czech personal income tax, Social Security and National insurance implications for the person and the branch is required.
    
    He is a specialist in cross border taxation and will propose the most suitable solution for you and advise you of the possible risks etc. Please let me know if this is something you wish to pursue further. I can be contacted on 020 8421 7470.
    
    Regards
    
    Heather

16. Dear Heather I am in the early stages of setting up my company in Austria. I have a number of questions I would like answering, and would gratefully appreciate your expertise. Why is the Share Capital so high? Can I use the Share Capital after Incorporation? What is a blocked bank account? Are there any hidden costs and extras? What is the difference between a Virtual and Registered Office? Why do I need a Virtual or Registered Office? Do I need to appoint an Accountant? What is the difference between a Branch and Company? Why does the company formation take so long compared to the UK? What is due diligence, and why do I need to provide it? Thanks in advance. Question from Anonymous on 24/11/2009

    Heather says:

    Hi Inca

    I would be happy to help. I have specialised opening European companies for some time now so please find answers to your questions.

    1. Why is the Share Capital so high.
    Share capital is deposited into a bank account in the name of the company. This is to ensure that the clients and regulating authorities can see that the money is deposited into the company and can guarantee funds and liability up to that amount. The amount of share capital in Austria is EU35,000
    
    2. Can I use the Share Capital after Incorporation?
    Yes, this can be used towards company expenses.
    
    3. What is a blocked bank account?
    A bank account is blocked until the company is formed. No funds can be taken out until that time.
    
    4. Are there any hidden costs and extras?
    No hidden fees for the incorporation unless the client is setting up the company remotely. In this case, he/she will be required to obtain a Power of Attorney which will need to be signed in front of a notary and apostilled. Banks in Austria will require the client to come over to meet them face -to -face. In this case, there will be no requirement for a Power of Attorney as the appointments can be fixed on the same day. If the client has ID documents that are not in English or German then these will need to be officially translated into German.
    
    5. What is the difference between a Virtual and Registered Office?
    A virtual office is an address with a telephone number which overlays onto your UK or worldwide number and seems as if you have a physical address in the country in which you are setting up. Messages can also be taken and forwarded to an email. A registered office address is required in order for all legal and financial documents to be sent to this address. .
    
    6. Why do I need a Virtual or Registered Office
    As a minimum, all companies require an address where legal information goes. This is called a registered office address. Some countries require a virtual office or physical office address.
    
    7. Do I need to appoint an Accountant?
    Yes, in order to maintain the company in goodstanding and to ensure that the annual return,VAT and local audit is complete.
    
    8. What is the difference between a Branch and Company?
    A company holds limited liability and in the case of the branch, limited liability is devolved to the mother company of the branch
    
    9. Why does the company formation take so long compared to the UK?
    In most countries in Europe - in this case, Austria, a notarial system is used. Austria follows strict legal procedures and thecompany documents are submitted to the Austrian law courts for registration.
    
    10. What is due diligence, and why do I need to provide it?
    Due dilligence is to prove that you are who you say you are and to confirm that you live where you say you live. ie. Certified copies of passport and two utility bills are the minimum that is required. A bank statement with your address on will also be sufficient.

    I trust this is what you are looking for. I would be happy to help with anything else. Feel free to get intouch.

    Heather
    

    
    

17. Hi Heather My MD is looking to expand our operations into France. He has asked of me to research the operation? I have a number of questions i would appreciate you answering. What is the timescale for setting up a company in France? Why do non EU Directors need Government Authorisation for France? What is due diligence, and why do I need to provide it? What do I need to deposit as share capital for France? Regards Question from Anonymous on 24/11/2009

    Heather says:

    Hi Inca

    Great questions...

    Why do non EU Directors need Government Authorisation for France?
    
    Government authorisation is required for non EU residents to check on criminal records. National police in the country in which the client is residing are normally contacted to obtain a criminal disclosure document to be sent back to police in France. They will then forward on authorisation to set up a company to Companies House in France once this has been approved.
    
    What do I need to deposit as share capital for France?
    
    In theory, you only need to deposit EU1. Practically, banks require a minimum deposit of at least EU2,500 to open an account in France. The company can be set up first and a bank account can be opened shortly afterwards if time is pressing.
    
    What is the timescale for setting up a company in France?
    
    French companies take around five weeks to set up completely with bank account and vat number once statuts have been signed by beneficial owner. There is now an express service we can use and this can reduce the incorporation time now to between two and three weeks.
    
    What is due diligence, and why do I need to provide it?
    
    Due dilligence is to prove that you are who you say you are and to confirm that you live where you say you live. ie. Certified copies of passport and two utility bills are the minimum that is required. A bank statement with your address on will also be sufficient.

    If you have any additional information please give me a call. I am happy to advise and organise the setup. 0208 421 7470

    Thanks

    Heather
    

18. Dear Heather I am looking into expanding my business supplying childrens toys in Europe. Which countries would you say were the easiest countries to deal with first of all? Thank you for your advice. Question from Anonymous on 24/11/2009

    Heather says:

    Hi Ipini

    Thank you for your question regarding easiest countries to deal with first. There are a few aspects that you need to think about before setting up a company which I can discuss with you in further detail/

    The four major countries: UK, France, Germany and Italy are a good place to start. Ireland also has low corporate tax rates and is English speaking. Please call me directly at Open A European Company.com and I can give you more detailed information over the telephone on +44 (0)208 421 7470

19. hello, i want to find out how i immigrate to crotia . what are the best options do i have. Question from Anonymous on 24/11/2009

    Heather says:

    Firstly, you need to advise me as to where you currently reside and what your qualifications are. Most countries require that the person applying for immigration is of independent means and, in most cases, is a highly skilled worker.

    I would possibly suggest Latvia as an easier solution for immigration into Europe but please contact Jackie Houguez-Simmons at www.immigrationintoeurope.com on +44 (0)208 421 7499 for further details.