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The development of telecommunications and economic globalization have made it possible for interested investors to set up companies all over the world. With proper research, financial investment and legal backing, business ventures can be safely incorporated in almost any country in the world. Building an international business used to be a complicated entrepreneurial venture, but today it is commonplace with the help of experienced legal and business advisors.

The advantages of founding a company abroad are as numerous as they are obvious. Many countries offer specific locational advantages, ranging from natural resources and well-established infrastructure to beneficial laws and regulations that encourage growth in a particular industry. Likewise, it can be difficult to start a business or an acquisition in your own country due to adverse situations: political or regulatory environment, lack of resources and more. In this situation, it makes sense to consider an overseas option that offers greater opportunities for growth, development, and success.

Company registration in Sierra Leone
When starting a business in Sierra Leone, an interested investor must conduct due diligence on legal procedures, international regulations and sufficient investment for success. It is crucial to understand cultural, social and political factors that influence starting and growing one's business. Failure to do so may result in unintended consequences. Poorly researched and toneless international launches often end in disaster as time, money and energy is wasted due to poor planning.

Legal Documents
Every country in the world presents its own intricate challenges when it comes to starting, developing and maintaining a business. Owners, financiers and investors must make these commitments with the support of a knowledgeable and experienced legal team. Only someone with in-depth knowledge of local and international corporate law will be able to set up an overseas business while avoiding the pitfalls that plague many new businesses.

Additionally, smart business people can consider ways to invest in foreign companies without actually starting their own businesses. In these situations, it is still beneficial for the investor to partner with a knowledgeable global economics and litigation advisor. International investments create a truly diverse portfolio that offers growth opportunities that were unthinkable decades ago.

Potential investors, venture capitalists and entrepreneurs should consider the existing infrastructure in Sierra Leone when planning to start a new business. While extensive infrastructure and systems can help make the process of starting a business a smooth one, it could also represent market saturation and reduced growth potential. On the other hand, a lack of infrastructure is often a major obstacle to growth; However, the lack of infrastructure points to a clear market opening for a creative and efficient new business.

Bank account opening in Sierra Leone
In connection with the formation of a company, it is necessary to open one or more bank accounts in Sierra Leone. Confidus Solutions offers the ability to open a bank account in over twenty jurisdictions, making it easy for you to avoid challenging language barriers or bureaucratic hassles.

Virtual Office in Sierra Leone
Since a registered address is a necessity for international business, Confidus Solutions enables foreign investors to set up a virtual office in Sierra Leone. This address allows international entrepreneurs to accept mail, arrange for shipping and set up a registered bank account in their country of business.

Tax regulations
If you are researching starting a business in Sierra Leone, consult a lawyer or consultant with extensive experience in the area you are considering. This advisor can help you with everything from laws and tax structures to local helpers. You need to consider every aspect from the local office to your highest organizational structure; Make sure you recruit the best possible mentors as you embark on this exciting but challenging process.

The Republic of Panama, or simply Panama, is a country in Central America, bordered by Costa Rica to the west and Colombia to the southeast. Panama City is the country's largest city and capital and is home to two million people, which is approximately 50% of the population. Panama's official language is Spanish due to Spanish rule in this area until 1821.

Panama Canal revenue accounts for a significant portion of Panama's GDP, while industries such as banking, trade and tourism are important and growing sectors. Thanks to the canal, Panama has managed to create the largest international financial center in the Central American region, with assets worth more than three times Panama's GDP. Stability, along with a favorable business and economic climate, is considered the main strength of Panama's financial sector. Panama's banking system conforms to the Basel Principles of Effective Banking Supervision. Nevertheless, Panama has a worldwide reputation as a tax haven. In particular, since the publication of the Panama Papers in 2016, the country has made significant progress in improving compliance with anti-money laundering recommendations. In February 2016, Panama was removed from the FATFGAFI gray list, but the IMF continues to see a need to strengthen the country's financial transparency and fiscal structure.

Bank account in Panama
Panama is known for having one of the strictest banking secrecy laws in the world. While foreigners are welcome to open a bank account with Panamanian banks, they often require more documentation than European or North American banks. As such, opening a bank account in Panama can be a relatively lengthy process - unless you have someone you trust to connect you with a bank's account manager, setting up a bank account can take two weeks or even two months.

Different banks may require different information when opening a bank account, but you should be prepared to provide documents and other information as listed below (all documents must be in Spanish):

Copy of your passport photo, information page and page with a Panama entry stamp;
Up to two bank reference letters;
A letter of reference from a lawyer or accountant;
Copy of another ID – national ID or driver’s license;
bank statement for the last 3 months;
proof of income;
Evidence of your relationship with Panama (e.g. proof of ownership, utility bills, cedula, etc.);
Completed forms with information about you and your family and your funding source.
If you decide to withdraw more than $5,000, you may be asked to indicate how you intend to use those funds.

Procedure for opening a bank account in Panama
In general, account opening procedures may differ slightly from bank to bank, but if you decide to work with a service provider that specializes in opening bank accounts for foreigners, the process might turn out to be quicker and easier for you. Companies offering such services usually have their partner banks and they are familiar with the procedures and legal requirements. The procedure for opening a bank account generally consists of five steps:

Submit an online application;
Submit payment to the bank account opening service provider;
Interview – Banks in Panama require an in-person interview before opening a bank account. The call will be coordinated by your service provider. All applications and required documents are submitted during the interview.
Due diligence process (this takes about 20 to 30 business days);
Setting up the bank account – after completing the account opening process, you will be provided with the bank account number, deposit and transfer history and contact information of your bank.