Nikita Veremeev
06.01.2026 | 6 min read
Updated: 06.01.2026
Welcome to the blog COREDO. As the CEO and founder of the company, I have been observing since 2016 how entrepreneurs from Europe, Asia and the CIS successfully enter international markets through proper business registration abroad. Our experience at COREDO confirms: the right choice of jurisdiction reduces taxes, simplifies access to banks and opens doors to financial licensing. In this article I will outline the key steps, criteria and real cases so that you save time and avoid common pitfalls.
In recent years at COREDO we have seen the same mistake: entrepreneurs choose a jurisdiction based only on the tax rate or advertising for “quick registration”, ignoring banking risks, substance requirements and Licensing. As a result the company is formally registered but cannot open an account or scale. That is why the right choice of country — is not an administrative step, but a strategic decision.
Criteria for choosing a jurisdiction
In 2025 the leaders in attractiveness remain Serbia, the UAE, Georgia, Cyprus and Uzbekistan, where fast online registration, low taxes and the possibility of 100% foreign ownership are combined. However, there is no universal jurisdiction. The same country may be ideal for trading business and completely unsuitable for fintech, crypto projects or holding structures. Therefore we always assess not “popularity”, but the conformity of a specific business model with the regulatory environment.
Start by analyzing your goals. Do you need access to the EU market, a crypto license or low taxes for trading? Here’s the methodology used by the COREDO team:
Within COREDO this stage is called pre-jurisdictional audit. We model not only company registration but its further life: account opening, interactions with banks, the tax burden after 12–24 months and the possibility of obtaining licenses or investments.
- Tax regime. Look for rates from 0% in UAE Free Zones or 1% in Georgia for small businesses. Avoid double taxation through treaties – Cyprus offers special regimes for holding companies.
- Speed and bureaucracy. Serbia and Georgia: 3–7 days online, UAE: 3 days in a Free Zone.
- Banking services. A local account is opened automatically upon registration in the same jurisdiction.
Important to understand: “automatically” does not mean “unconditionally”. Banks in Serbia, the UAE and the EU conduct their own AML onboarding. We prepare the package for the bank in advance: description of the business model, sources of funds and payment scenarios to avoid refusals and freezes at the start.
- Substance requirements. In the EU (Cyprus, Czechia, Estonia) since 2024 an office, employees and local reporting are required.
- Access to licenses. The UAE and Cyprus are ideal for payment services, forex and crypto.
A solution developed at COREDO always starts with an audit: we compare 5–10 jurisdictions across 20 parameters, including regulatory arbitrage risks. For an Asian client targeting Dubai, we chose Mainland UAE: obtained 100% ownership, zero corporate tax and a trading license within 10 days.
| Criterion | Serbia | UAE (Free Zone) | Georgia | Cyprus |
|---|---|---|---|---|
| Registration time | 3–7 days | 3 days | 1 day online | 5–10 days |
| Corporate tax | 15%, incentives for small businesses | 0–9% | 1% for small businesses | 12.5%, holding regimes |
| Residence permit via business | Yes, renewable | 5-year visa | No, but simple | Yes, with EU access |
| Substance | Minimal | Not required | Not required | Office + staff |
This table reflects data for 2025; use it as a checklist. In practice we often combine jurisdictions. For example, the operating company is registered in the UAE or Serbia, and the holding level — in Cyprus for asset protection and working with investors. Such a structure is better received by banks and reduces tax risks.
Company registration: step-by-step plan
The process is standard, but details depend on the country. It is precisely the details that most often “break” projects: an incorrect company form, an unsuitable type of activity on the license, or errors in beneficiary data. These issues are hard to fix after registration, so we always account for them at the planning stage. Here is a universal algorithm from COREDO’s practice:
- Choose the form. Sole proprietorship (IP) for simplicity, LLP/LLC to protect assets — personal liability is excluded.
- Gather documents. Passport, proof of address, articles of association, beneficiary details. We prepare them to meet banks’ KYC requirements.
- Submit an application. Online to the registry: Serbia – Agency, Georgia: State Registry, UAE through a Free Zone.
- Open an account and obtain numbers. Tax ID and license are issued automatically.
- Register as a taxpayer. In the UAE — first year, 6–18 months.
The COREDO team took on the entire cycle for a European fintech startup: registered in Cyprus in a week, confirmed substance with an office in Nicosia and applied for an EMI license (payment services). The client saved 3 months compared to trying alone. For businesses that work with investors or financial flows, time-to-market directly affects revenue. In such projects, a delay of even 1–2 months often means losing partners or licensable opportunities.
Difficulties arise with beneficiary checks; banks have tightened KYC. Our approach: full transparency of documents reduces rejections to 5%.
Obtaining financial licenses: crypto and forex
Licenses: the next level. obtaining a license practically always requires a properly registered company. A mistake at the first stage – choosing the ‘wrong’ jurisdiction – makes licensing either impossible or excessively expensive. Without them, business in fintech, trading or payments is impossible. COREDO’s practice confirms: Cyprus and the UAE lead in speed.
- Crypto and VASP. Cyprus (CySEC) – 3–6 months, requires an AML policy. UAE VARA – 2 months in a Free Zone.
- Banking and EMI. Estonia and Lithuania for the EU, Singapore for Asia – focus on capital adequacy and risk-weighted assets.
- Forex and payments. Czechia and Slovakia offer access to the EU without strict substance requirements.
In one COREDO case we assisted a client from the United Kingdom in obtaining a forex license in Cyprus: we developed an AML framework according to FATF standards, confirmed compliance and launched operations within 4 months. Now the company processes €50 mln per quarter.
AML consulting: what it is and why it’s needed
AML (anti-money laundering) is not a formality but a way to protect the business. In 2024-2025 regulators have shifted the focus from the mere existence of AML documents to their actual application. Companies without effective monitoring procedures and staff training increasingly face account freezes even with formal compliance. EU and UAE regulators require internal compliance systems, transaction monitoring and KYC for all clients.
The solution developed by COREDO includes:
- Development of an AML policy with a risk assessment.
- Staff training on FATF and local regulations.
- Integration of software for transaction monitoring.
For an Asian payment provider we implemented the system in Dubai: portfolio diversification minimized risks, capital adequacy increased by 20%. Result: a clean compliance audit without fines.
Post-registration support
Registration: just the beginning. Next come accounting and reporting, hiring an accountant and a lawyer, and marketing adapted to local rules. The COREDO team ensures continuity: we handle accounting and reporting (in Spain: calendar year), help with residence permits and scaling. We view company registration as a long-term project, not a one-off service. It is ongoing support — accounting, AML updates, working with banks — that allows a business to remain resilient when rules change.
Admittedly, there are risks. Regulatory changes, such as tightening substance requirements in the EU, require flexibility. But with a partner like us you can focus on growth, not paperwork.
COREDO case studies: real results
- Serbia for a CIS client. Opened an LLC online, integrated with EU banks. Tax savings of 40%, turnover doubled.
- UAE Free Zone for a trader. Obtained a crypto license, 0% tax. The client entered Asian markets in 2 months.
- Cyprus holding for an EU business. Substance + EMI license. Access to venture capital and the Schengen area.
These examples show: COREDO turns challenges into opportunities. In every case, the key to success was not just setting up a company, but the right business architecture that accounts for future growth, banking requirements, and regulatory changes.
Ready to take the next step? Write to us: the COREDO team will select a jurisdiction for your business and start the process within a week. Your success, our expertise since 2016. If you are considering registering a business abroad, start with a consultation. We will assess your model, propose optimal jurisdictions, and show how to avoid common mistakes even before submitting documents.