Starting a business or registering a company in Somaliland is possible for almost any individual or foreign company. There are different types of businesses and companies that can be established, depending on the type of activities and relevant laws and regulations.
We assist from the consultation stage regarding the right type of company registration to the required documents, relevant certificates, notarized translation, power of attorney, opening a bank account, VAT registration and even VISA application for the foreign managers.
In order to ensure the quality of our services, the process of business establishment, registration and incorporation in Somaliland is done by our licensed local lawyers.
Under Business Setup Services in Korea we provide the followings kind of services:
This type of registration is a local company but since the ownership is by foreign individual or company it’s categorized as Foreign Capital Invested Company (Foreign Direct Investment Company / FDI). FDI companies enjoy several of benefits under the Local laws same as local companies.
While FDI Company is consider as local corporation, Branch office is considered as foreign corporation, where the foreign headquarter and the Somaliland branch are a single legal entity. Branch office can be involved in profit making activities in Somaliland and exposed to the same tax laws and rates that applied to domestic companies.
Like Branch office, this form of business also considered as foreign corporation, but unlike Branch office, it can only carries out non-sales activities such as R&D, business development, market research, advertisement etc., that on behalf of the foreign company.