text:
Criminal Cartels, markers and immunity
By Carol Younes
What is a criminal cartel?
A criminal cartel occurs when individuals and/or businesses enter into an agreement, with a purpose to:
prevent competition between the member parties; and
increase the profit made by the cartel members
Criminal cartels are usually engaging in conduct which causes price fixing, sharing markets, rigging bids and limiting supply.
Price fixing occurs when businesses set a price structure. For example, businesses will agree to sell a particular product or service at a set price which is generally higher than the usual price.
Sharing markets takes place when businesses agree to divide the market. This may involve dividing customers, suppliers and/or territories.
Rigging bids is when competitors agree which bidder will win and the price that the winner should pay. This agreement will usually occur before the auction begins.
Limiting supply involves businesses reducing the production or the availability of goods and services which results in an increase of the price for those goods and services.
What are the maximum penalties if you are convicted of a cartel offence?
If an individual is convicted of a cartel offence, the maximum penalty is:
10 years imprisonment and/or a fine of up to $420,000 (per offence)
a pecuniary penalty of up to $500,000 (per civil contravention)
If a Corporation is found to have engaged in cartel related offences, the maximum penalty for each offence or contravention would be the greater of:
$10 million OR
3 times the total value of the benefit derived OR
in circumstances where the benefit cannot be determined, 10% of the company's annual turnover.
What is the ACCC Immunity and Cooperation Policy?
The ACCC has a policy which seeks to encourage individuals and corporations involved in criminal cartels to come forward and disclose cartel behaviour. Individuals/corporations can in certain circumstances disclose cartel behaviour to the ACCC in order to gain conditional or full immunity.
The ACCC considers whether civil immunity should be granted, and disclosures are referred to the Commonwealth Director of Public Prosecutions (CDPP) to determine applications for criminal immunity.
Some of the factors that affect whether immunity will be granted include:
the timing of the disclosure
whether conditions set by the ACCC have been met
whether full, frank and truthful disclosures have been made
whether an individual is considered the leader of a cartel
whether an individual has coerced others to join the cartel
What is a marker?
A marker preserves, for a limited period, a reporter's status as the first party to apply for immunity in relation to a cartel.
Are you concerned about possible involvement in a cartel, or are you the subject of an ACCC or CDPP investigation? Contact us on (02) 9696 1361 or Carol Younes directly on 0404 056 777.


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Home #AfroFire_Buzz Album Review: "Superstar by Roberto"
Album Review: "Superstar by Roberto"
Anita-kay Holland
Superstar is Roberto's fifth studio album consisting of fifteen tracks, with one bonus track. The album features various international and local artists. Superstar is a mixture of several genres such as RnB and Dancehall.
The album kicks off with a dance track titled "Holla" where Nigerian artist Dammy Krane features. With its club sound and dancehall mix, this is a perfect start to the Superstar playlist. It's followed up with his popular hit song "Into you" another club hit that will have you dancing to the rhythm. "Into You" is a mixture of great instruments and lyrics that are sang in English and the Nyanja dialect. This song is about love that goes beyond a one night stand, where you find love and a partner when you least expected it. He talks about being into her and how he sees his life with her. It's one of the best tracks in the album. The urge to dance to this track is high; it's a feel-good song that you play at parties, clubs and in your car.
Dammy Krane
"Find my Way" the third track on the album has an acoustic vibe with a beat in the background letting Roberto's crisp vocals dominate the song. It's a great romantic song, something that Mr. Roberto is well known for. It's an English song that talks about how the lover will do everything to get into his lover's heart. It's a beautiful simple song that's perfect for those romantic nights and one to sing to your love.
Track 6 on the album is "Fireman", a heartbreak song where he laments on how some girl broke his heart. This isn't your usual ballad about pain; it's more of a song you dance to while yelling at that ex who hurt you while you are on the dance floor. It's got a great mixture of dance instruments to it that makes it a great song to add to that heartbreak playlist.
Superstar Album features tracks like "Bartender" where he features Jay Rox and "Come closer" that features international star Mohombi. They both talk about the women he wants; they are on the sexy side while they also talk about love. Jay Rox is his brilliant self in "Bartender" adding that dancehall vibe he is famous for. While Mohombi blends in perfectly in "Come Closer" giving us those sweet slow tunes we know him for. They are both songs to lookout for in this album.
Mohombi & Jay Rox
More tracks to look out for on Superstar album is a weekend blazer "Rewind" and a feel-good anthem called "Good Life".
Recorded in Rwanda, Tanzania and Zambia, making it on the album is "Vitamin U" featuring Tanzania's Vanessa Mdee. "Vitamin U" and "Dear Lavu" are some of the many love songs. They are of him praising and appreciating his woman and talking about how he needs her. Vanessa is a great vocalist with a beautiful serene voice that has me wishing for another duet from the two. These are both sweet songs that remind you so much of sweet, honest and kind love. Another song we can add to this list is "One in a Million", a track with its new video showing on Trace Africa.
On the cover of Roberto's album, we see a small picture of his Mother on the lower left corner. To continue showing his unending love, the album features a track titled "Mama", a beautiful song inspired by his Mother.
Showing his versatility as an artist, Roberto also has a gospel song dotted "Thankful/Grateful" where he praises God and thanks him for the blessings he has brought his way.
Roberto wraps up Superstar with "Contolola" and "Roger Roger". Contolola that features Nigerian hit-maker Patoranking is a dance song that basically talks about how one should break it or as the song says "Contolola" on the dance floor. It also features General Ozzy at the end who is also in the song "Roger Roger" that features the Brathahood Crew. Both songs are party songs that make you want to dance and insist you dance. The vocals of the artists flow perfectly with the beats.
Superstar album is a mixture of dance tracks and love songs. It has that true authentic Roberto sense that we know so well. He sings about the woman he loves, he talks about finding love, heartbreak and also has a very beautiful song about his mother that's honestly the sweetest song in here. The artists featured are amazing and they all bring something to the album that makes it the master piece it is.
Get Your copy of Superstar on Itunes: https://itunes.apple.com/album/id1261086085?ls=1&app=itunes
PreviousT-Sean – Junta
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http://www.afrofire.com
Writer, Music critic, song writer, blogger and obsessed reader.
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redpajama_set_name: RedPajamaCommonCrawl


Seriously I never thought that I would be knocking off anything designer for my new casual style but I came across this Valentino top on FarFetch and fell in love.
...and it hit me that I could make that to wear to work now. Just add some sleeves (cause it is a little chilly outside) and wear it over a pair of slim pants or even leggings. This would work!
I already knew that I would use my TNT dress pattern shortened to tunic length for this top. So the next stop was the fabric collection where I found the perfect Armani red wool blend for this top! I pulled some red rayon bemberg for lining, a red invisible zipper, and I was all set. Seriously, nothing was bought to make this top. It all came from the collection! Yes!!!
Red wool blend is Giorgio Armani fabric that I bought from Fabric Mart years ago. Yes, more sewing from the collection!
Since I want to make more tunics, I made permanent pattern pieces from my TNT dress pattern.
I even altered the sleeve because it's just a little too wide in the bicep area (woohoo! can't believe I typed that!) The alterations were more about shortening the pattern than anything else.
Again I've made this top/dress/tunic so many times that sewing the tunic was easy. However I made a few design changes to my tunic that are not a part of the Valentino top.
Used a hem facing on the sleeve hems to cover the piping since the sleeves are unlined.
Once the lining was added, I machine stitched the hem. The tunic was hemmed using hem tape and hand hemming it.
To make the bow I used a rectangle that was 4" wide and 60" long. I cut it from the fashion fabric and the lining fabric. I came up with those measurements after measuring the width of my shoulder seam since the bow has to fit on the shoulder and then hang down the back.
Just when I thought it was okay, I realized that I didn't really like the bow. It won't fit under a cardi or topper and it's a little impractical for this job. So I ended up not putting it on the tunic.
I photographed the tunic with leggings and with the black ponte skirt I made recently.
Originally I started working on this to wear to my Company's Holiday Party. Instead I caught an awful cold and didn't sew at all before Christmas. This was the first piece I worked on during my Christmas Break. So even though I'm blogging about it in 2016, it was one of my last garments made in 2015.
I like that the Valentino top inspired me to make this tunic. However, with all designer inspired pieces, you have to sew what works with your lifestyle. This as is will work well now and fit into my Chicos Chic wardrobe plan!
Just wonderful. My monitor is reading the color as a coral red and it looks superb on you. Very flattering color and style.
Yes I did make the bow but it does make the tunic look quite a bit fancier...even my daughter said to leave it off.
Very pretty and I love the piping detail!
Smashing colour! The pipework looks great - raises the refinement level. Could you add the bow (like a brooch) when the mood suits?
I guess I could add it on later...and I did hold onto it.
Red really is your colour Carolyn. This tunic looks great on you and the fit is very flattering. The bow would look awesome for a more formal occasion too.
The piping looks to be an exact match. Did you buy them at the same time to go together, or was that pure luck? Or did you make the piping yourself?
Martha - nope all three pieces were purchased at different times. I think I just know the shade of red that I like so I collect in that shade. Though I was pleasantly surprised that they all coordinated.
Awesome! The color looks absolutely beautiful on you!
You look amazing. I love this red colour on you.
I don't line sleeves anymore since menopause it just makes me too hot. It's why all my dresses were sleeveless. So it's a personal choice for me.
You look fabulous in this tunic! It fits you perfectly and the red is perfect for the winter doldrums. I think this will become a basic as you can dress it up or down with accessories. I love how you "see" what the designers do and make it your own. You have taught me to do that, too, so now I pour over catalogs and web sites to look for details.
I'm also a fan of tunics, but I have to admit that this one is pretty spectacular. Red is definitely your color.
Helene - I've made a few of the boho-type tunics but I'm more of a tailored look girl and will probably be slicing and dicing my pattern now to make more of this look.
Utterly great color! I love this styled with the leggings.
So you saw the top, and made one exactly like it except that it was totally different. :) I want to hug you as I do the exact same thing. Very pretty!
Thanks Leigh! Yes that's pretty much what I did! And great minds think alike.
Wonderful color on you! As always, very nicely sewn.
I love the end result! It looks great on you!
Hi Carolyn! I really like this tunic, but I think you gave up too quickly on the original design. You could get more mileage out of it by making the bow detachable with a couple metal hooks sewn to the back of the bow and thread eyes sewn in the well of the shoulder seam. Voila, a tunic with a bow on the shoulder when you want it there!
This is a very pretty tunic and a great wardrobe addition.
I adore this tunic, Carolyn! The fabric is luscious, and the fit is very flattering on you.
Lovely! Excellent that you now have a TNT tunic pattern.
You look hot! Awesome tunic!
Really great make. I'd save the bow and just safety pin it on should the right occasion appear. Maybe the office Holiday party next year?
Wow...this is very flattering on you! Sometimes simpler is better, I guess. You've inspired me to try the tunic top/legging look!!!
Wow ! You look great. You have really nailed this - the refined look you prefer that would fit in with your more casual workplace. I am a huge fan of the colour red.
I did put a comment here yesterday but I can't see it. I think the red is sensational on you (I see I'm not alone). I love the look with the tights at the beginning. I love the piping. Red always makes me feel fantastic.
Wonderful wardrobe piece and great styling. Those colors you've selected light you up!
Love this look on you--classic, with verve. And I agree that the bow isn't great--I just love the simple line. May I make one tiny fitting suggestion, hopefully without sounding negative? Because I always have to make this adjustment so I'm sensitive about it: I wish that the sleeve joined the shoulder seam just 1/2 inch higher.
So glad you've now got a tnt for a classic tunic--looking forward to seeing many others!
Nope Wendy not negative at all! I will think about doing that on my next version. Thanks for the suggestion!
It is amazing that a red tunic can be such a versatile wardrobe addition. Great looks, I love all the ways you styled it. Red is definitely one of your colors!
Great colour and great fit. Make more!
That is fantastic! I love, love, love that first look on you - and red is your color!
I can imagine the bow being crushed under a coat; nice idea but a little impractical for every day.
that second to last shot. THE BEST.


text:
Word For Ancient Greek Warrior
How To Write Syntax In Spss I´ve got the following list in SPSS (just imagine the columns stand next to eacht other like a list) Subjekt 1 1 1 1 Reactiontime x x x x correct/incorrect 0 1 0 1 I now want to select. SPSS Statistics is a software package used for interactive, or batched, statistical analysis.Long produced by SPSS
The word liturgy — from the ancient Greek leitourgia — means "public service" or "work. While in early ancient Greece only warriors could become "heroes," later, liturgists could earn heroic status.
Sep 10, 2000. Glossary of ancient Greek military terms. Greek (GR) and a few Persian (PE) terms and expressions associated with ancient Greek warfare. Distinct meanings of the same word are indicated by numbers between brackets.
May 16, 2019 · Sparta was a warrior society in ancient Greece that reached the height of its power after defeating rival city-state Athens in the Peloponnesian War (431-404
What's a linothorax, you ask? Well, lino refers to linen and thorax means the chest. Now imagine eye an ancient Greek warrior, his sword in the air, an olive branch on his head, and around his.
Violent debate, enthusiastic writings, shamefaced silence, flights of fantasy: few aspects of ancient society are so hotly contested as Greek pederasty, or – as we shall see below – homosexuality. Since the British classicist K.J. Dover published his influential book Greek Homosexuality in 1978, an.
Meanings and Origins of Names. 1] [2 ] AARŌN (Ἀαρών): Greek form of Hebrew Aharon, meaning "light-bringer."In the bible, this is the name of the older brother of Moses.; ABADDŌN (Ἀβαδδών): Greek name derived from Hebrew abaddown, meaning "destruction, ruination."
Ancient Greek-English Dictionary Online Translation, Language, Grammar. Greek-English word-list containing about 1000 most common Greek words,
Copleston History Of Philosophy Vol 3 Pdf A History of Philosophy is an eleven-volume (originally released in nine volumes) history of Western philosophy written by the English Jesuit priest Frederick Charles Copleston. The work provides extensive coverage of Western philosophy from the Pre-Socratics through John Dewey, Bertrand Russell, George Edward Moore, Jean-Paul Sartre and Maurice Merleau-Ponty. Some of the most fascinating questions
Apr 26, 2018. "When a little boy is kidnapped, turned into a child soldier, forced to kill or be. The word "barbarian" is derived from the ancient Greek word.
. but at too great a cost. In this use as an adjective, the word is often capitalized. An ancient Greek war dance is also called a pyrrhic. Start learning this word.
GREEK TO ME Adventures of the Comma Queen By Mary. In a small disquisition on the development of written language in ancient Greece, Norris tells us that the Greeks wrote words as run-ons:.
Mar 28, 2018 · Almost everyone knows about Japanese Ninjas and Chinese Shaolin monks. Their combat skills are well promoted in Hollywood. However, few know that at one time in Europe there were soldiers, whose abilities were not inferior to the Japanese.
Ares. Ares was the god of war. He wore armor and a helmet, and he carried a shield, sword, and spear. He was big and strong and had a fierce war cry, but his war cry was mostly just a lot of noise.
A rare 3,500-year-old sealstone found in the treasure-laden tomb of a Bronze Age Greek warrior could rewrite the history of ancient Greek art. The thumb-sized gem depicts a fierce hand-to-hand battle.
Warfare occurred throughout the history of Ancient Greece, from the Greek Dark Ages onward. The word hoplite (Greek ὁπλίτης, hoplitēs) derives from hoplon ( ὅπλον, plural hopla, ὅπλα) meaning an item of armor or equipment, thus 'hoplite'.
The Ancient Greek name βάρβαρος (barbaros), "barbarian", was an antonym for πολίτης (politēs), "citizen" (from πόλις – polis, "city-state").The earliest attested form of the word is the Mycenaean Greek 𐀞𐀞𐀫, pa-pa-ro, written in Linear B syllabic script. The Greeks used the term barbarian for all non-Greek-speaking peoples, including the Egyptians, Persians.
Her enthusiasm is infectious, whether for diphthongs, mythology, ancient ruins. the New Yorker. Greek emerged unexpectedly after she saw a scene in Terry Gilliam's "Time Bandits," in which Sean.
Apr 22, 2014 · The city is near, I will build the city of the chosen, then we will find the warriors that are true, and this will be no ordinary city, but a city of wisdom, I have told this prophecy to many, before I knew it was a prophecy, I feel I have been chosen for this, I have no care to understand if you believe me, but it is beautiful what i can see, I've seen this prophecy before, a many times and.
Ancient Greece (Greek: Ἑλλάς, romanized: Hellás) was a civilization belonging to a period of Greek history from the Greek Dark Ages of the 12th–9th centuries BC to the end of antiquity (c. AD 600). Immediately following this period was the beginning of the Early Middle Ages and the Byzantine era. Roughly three centuries after the Late Bronze Age collapse of Mycenaean Greece, Greek.
Athena (Greek) – Goddess of war and wisdom and domestic crafts. Plato believed her name meant "mind of God" whilst others suggest it comes an ancient word.
Penelope, wife of the ancient Greek warrior Odysseus, inspired Villanueva—he wondered. The great instrument of moral good is the imagination," Shelley wrote. While not using the word empathy.
Unfortunately, "w" (or rather, the labio-velar approximant, if you want to get technical) wasn't the most widely-used sound in Ancient Greek. percent of all the words in a standard dictionary,
Greek Art Ancient Greek culture was full of different types of art. Ancient Greeks decorated almost every part of their lives, from their buildings and city streets to the inside of their homes, many objects in Greek life were created
Aug 21, 2018 · Leonidas (c. 530-480 B.C.) was a king of the city-state of Sparta from about 490 B.C. until his death at the Battle of Thermopylae against the Persian army in
The word liturgy – from the ancient Greek leitourgia – means 'public service' or 'work. While in early ancient Greece only warriors could become 'heroes', later, liturgists could earn heroic status.
A list of elements in which the usage is Ancient Greek. AEIDO αειδω Ancient Greek Greek word meaning "to sing, to chant". Greek word meaning "war".
Jun 17, 2016. The sexual habits of people in Ancient Greece – from prostitution to pillow talk. ceramics, satyrs have left us the word satyriasis, which means hypersexuality. during a Greek assault on Troy, before taking her as war booty.
The AHRC Logo Plowing Through History, From Aleph to Tav. By Jeff A. Benner. The most common word in the Hebrew Bible is the word את (et). The first letter is the א, called an aleph, and is the first letter of the Hebrew alephbet.The second letter in the word את (et) is the ת, called a tav, and is the last letter of the Hebrew alephbet.These two letters are the "first and the last," the.
Need translate "warrior" to Greek? Here's how you say. What's the Greek word for warrior? Here's how you say it. polemistí̱s. More Greek words for warrior.
HOMER 'Ομηρος m English, Ancient Greek (Anglicized) From the Greek name 'Ομηρος (Homeros), derived from 'ομηρος (homeros) meaning "hostage, pledge". Homer was the Greek epic poet who wrote the 'Iliad', about the Trojan War, and the 'Odyssey', about Odysseus's journey home after the war. There is some debate about when he lived, or if he was even a real person, though.
Gog Magog appear in the Qur'an, Book of Genesis, the Book of Ezekiel and the Book of Revelation. They are variously presented as supernatural beings, demons or national groups that lurked upon the land. Gog and Magog occur widely in mythology and folklore and their existence is accepted by many.
A Brooklyn writer and director will use an ancient Greek tragedy read by a celebrity cast to launch a. "Ajax," written around 440 BC, tells the story of a warrior who is overcome with depression.
Now, new research points to ancient Greek sculpture as the inspiration for the emperor's afterlife army. [See Photos of the Terracotta Warriors & Greek Art] "It. was the westernmost part of China.
May 16, 2019. Sparta was a warrior society in ancient Greece that reached the height. The word "spartan" means self-restrained, simple, frugal and austere.
Diversity In Higher Education Metrics are transforming higher education. The Disquantified conference explores how. Associate Vice Chancellor for. Building just and durable democracies in the 21st century depends on extending the benefits of higher education to all students, including those historically underrepresented, and enabling students of all backgrounds to experience and value diversity and inclusiveness in their pursuit of
In the more than two years since University of Cincinnati researchers unearthed the 3,500-year-old tomb of a Bronze Age warrior in southwest Greece. promises not only to rewrite the history of.
In ancient Greek myth, heroes were humans, male or female, of the remote past, This deep preoccupation with the primal experience of violent death in war has several. In the original Greek of both the Iliad and the Odyssey, the first word.
In the ancient Greek world, warfare was seen as a necessary evil of the human condition. Whether it be small frontier skirmishes between neighbouring.
APOLLINARIS: Ancient Greek name derived from the name of the god Apollo, Cambodia, itself from the name of their ancient warrior king, Kamboja, who won.
Sep 24, 2006. our online chats on ancient Greek and Roman literature and mythology. atuzomoi – terrified, as in taking flight (men at war, Astyanax) basileus -. eleaire, eleeson, eleairo, eleos – pity (not our current usage of the word pity
A new idea with an ancient pedigree. enterprising group of volunteers in the northern Greek city of Kilkis as they searched for a way to phase out plastic straws. "Staramaki" is a portmanteau word.
Looking for the perfect name for your little one? Search. Descending from Greek mythology of Zeus and his Gods, represented by Socrates and Homer, Sea and covered with olive orchards, Greece bears the naming tradition as ancient as humanity itself. AchillesWarriorSuggest Name · AegeusProtector Suggest Name.
The Greek word epidemios is constructed by combining the preposition epi (on) with the. "this one who liked passionately the frightening civil war" (canto IX, verse 64). Latin, and Ancient Greek in secondary school in the south of France.
We all strive for balance, and by having this word inked onto our bodies, it's a constant reminder to seek it out. Sophosyne.
IT'S BASED ON A GRAPHIC NOVEL—AND AN ANCIENT GREEK STORY. The script for The Warriors was adapted from Sol Yurick. Some version of the word is used several times throughout the movie. Though it.
As I write in my book "Enraged," the same myths that long predate the world's very first democracy have lessons for us today – just as they did for the ancient Greeks centuries. the protagonist,
. weakened by the catastrophic Peloponnesian War (431-404) these critics got their chance to translate word into deed. Democracy continued elsewhere in the Greek world to a.
Ancient Greek Warriors, The hoplite warrior and warfare. The Greek. This practice gave the sauroter its name, sauroter is Greek for "lizard killer". It was also.
. Spartans and ancient Athenians were very different, and the two city-states were not on the friendliest of terms. The Spartans were warriors, disciplined and strong, and always ready to die for.
In 1932, the musicologist Wilfrid Perrett reported to an audience at the Royal Musical Association in London the words of an unnamed professor of Greek with musical leanings: "Nobody has ever made.
Tom Benson Chevrolet Scholar Athlete
Introduction Aux Cultural Studies


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Q: grabbing exit code of background process/subshell I am wondering if there is any difference between:
long_running.sh &
pid=$!

and
(
  long_running.sh
) &

pid=$!

will the pid be capture consistently in both cases, or will there be some differences here?
ultimately, I want to capture the meaningful exit code with:
wait ${pid} || { echo "damn"; exit 1; };

A: A little testing shows my earlier comment is wrong:
$ cat long_running.sh
#!/bin/bash
sleep 3
echo "long_running: $$"
pstree -ps $$
status=$((RANDOM % 2))
echo "exiting with status $status"
exit $status

$ ./long_running.sh
long_running: 6599
systemd(1)───gnome-terminal-(4112)───bash(5899)───long_running.sh(6599)───pstree(6601)
exiting with status 1

$ ( ./long_running.sh )
long_running: 6618
systemd(1)───gnome-terminal-(4112)───bash(5899)───long_running.sh(6618)───pstree(6621)
exiting with status 0

There's no "man-in-the-middle" shell, so I suppose bash spawns a subshell and execs the commands.
To capture the exit status, you do the correct thing
$ ( ./long_running.sh ) & pid=$!; wait $pid && echo ok || echo damn
[1] 7439
long_running: 7439
systemd(1)───gnome-terminal-(4112)───bash(5899)───long_running.sh(7439)───pstree(7441)
exiting with status 0
[1]+  Done                    ( ./long_running.sh )
ok

$ ( ./long_running.sh ) & pid=$!; wait $pid && echo ok || echo damn
[1] 7457
long_running: 7457
systemd(1)───gnome-terminal-(4112)───bash(5899)───long_running.sh(7457)───pstree(7461)
exiting with status 1
[1]+  Exit 1                  ( ./long_running.sh )
damn

redpajama_set_name: RedPajamaStackExchange


text:
Open an account to register a company abroad
Choice of jurisdiction
from 2000 USD
When opening an account for a company abroad, the first and most important thing will be:
the planned activity of the company;
the identity of the beneficiary.
We will tell you why these are the two main keys to the success of opening a business account abroad, and how exactly to prepare for opening an account. If you still have questions or you are ready to move from theory to practice, please contact our experts for personal consultation and assistance in opening an account abroad.
You may also like: Opening a Personal Account for a Citizen of Ukraine Abroad
Why is the type of activity important for opening a company account abroad?
Today banks in Europe and many other countries of the world have tacitly established a list of activities that they do not want to deal with. As a rule, these operations are considered high-risk, they need enhanced compliance, which in turn means that a bank employee will have to spend a lot of time checking documents and determining the economic effect of the operation, while the bank will only get a symbolic fee of 50-100 euros.
Such activities include:
payments under consulting contracts (provision of services);
loans;
payments under license agreements;
payments in connection with developments, etc.
The reason for particular interest in these activities is that previously it was possible to send money in any amount anywhere under the guise of these transactions, because it was quite difficult to confirm the fact that, for example, this or that service had been rendered. Now, due to stricter rules in the banking industry, this kind of transaction is treated rather cautiously.
This does not mean that opening an account for a company that provides accounting or legal services, for example, is impossible. It is possible. But the choice of banks will be limited. And if you accept payment for legal consultation services in the amount of, let's say, 100,000 euros - you will face some challenges. At a minimum, you will need to provide the bank with a memorandum or written statement, which must prove the claimed amount. This statement cannot be made "on the spot", because banks have compliance departments that are able to assess the value of service in order to check such operations.
At a minimum, you will need to provide the bank with a memorandum or written statement, which must prove the claimed amount. This statement cannot be made "on the spot", because banks have compliance departments that are able to assess the value of service in order to check such operations.
Opening a bank account can be problematic when the company's activity is very specific. For example, cryptocurrency trading. To open an account that allows you to service operations with cryptocurrency, the country of registration of the bank/payment system must recognize crypto as a currency at the legislative level. Today there are not a lot of such countries. Speaking about opening an account for a company that trades in cryptocurrency, we can consider banking institutions in the following countries: Malta, Germany, Gibraltar, Britain, Switzerland, Lithuania, and Liechtenstein.
Understanding the type of activity of our client's company, we select a suitable jurisdiction and bank for him, where opening an account will be optimally simple, and the bank itself will meet the goals of the client.
You may also like: Relocation of IT Companies from Ukraine in 2022
What is the procedure for verifying the identity of the beneficiary when opening an account for a company abroad?
The beneficiary is verified in two ways:
Checking the sources of origin of his funds (where the funds are earned from);
Checking whether the beneficiary is on sanctions lists (this is especially relevant for Russian citizens at the moment).
At the same time, it is much easier to negotiate with the bank if the beneficiary has a similar offshore business, i.e. an operating business in some other country, the company has a website, certain financial indicators are recorded in the balance sheet and confirmed over the years. In such a situation, the source of funds is clear to the bank.
On the contrary, it is much more difficult to communicate with banks when it comes to a startup or a beneficiary that has officially earned a small amount, but the company's turnover (as planned) is declared rather considerable to the bank. A bank will definitely doubt such a story and will "question" the client for a long time. In this case, you must be prepared to provide a maximum package of documents (ranging from an inheritance from his grandmother, and ending with real estate transactions, equities, etc.).
The fact of declaring income in the tax office and paying taxes on it in Ukraine (by the beneficiary) today does not play a decisive role in the bank's decision whether to accept the client. But one day everything will come to the fact that the "qualified client" (capital) will be considered only the client who can confirm the fact of paying taxes on their income.
In this context, let us remind you of the undeniable benefits of participating in tax amnesty, as discussed here.
Another important aspect that banks are now paying attention to is the reality of the business, i.e., its real presence in the country of registration (availability of the office, employees, etc.). This is important not only for banks but also for payment systems. Therefore, you must be prepared to show the bank at least an office rental agreement, and if the bank is not satisfied with this, it may ask for proof of the actual conduct of business in the premises. For example, it may ask for utility bills, employment agreements, and accounting statements of the employees, etc. This degree of verification is now actively practiced by, for example, banks in the UAE. Is it worth mentioning that here we are talking about the presence of the company's substance, and that this requirement has appeared in the financial laws of many countries in connection with the BEPS plan.
You may also like: New Rules for Application of Double Taxation Treaties
Can I buy a ready-made company with an "account" in the EU or another country?
Of course, you can. Would buying such a company help you? Not today. Previously, when banks turned a blind eye to clients and their operations, you could buy a company with an account and have a ready financial instrument within a couple of days. Now, if you buy a ready-made company with an account, you have to understand that you will face at least two problems:
The new beneficiary will have to pass KYC with the agents (and it is not certain that he will meet their requirements).
The new beneficiary will have to pass KYC at the bank where the company's account is opened - and that is even tougher than the agents' check. This is where most companies fail. If the bank does not like the beneficiary or the new activity of the company (because you're unlikely to sell toys, as did the previous owner of the company) - then the account will be closed. And such a company will not represent any value. And you buy it with a big markup, given that it will have a business history of several years (it is always more expensive than registering from scratch), and given the fact of having an "ephemeral" account.
In such a situation, we analyze our clients' needs and the situation in advance in order to offer them the best way to implement the idea of doing business abroad. We calculate the risks and assess the chances of our clients passing compliance.
Can I open an account for a company abroad remotely?
Today it is practically impossible. Banks prefer to meet the client in person. Only some payment systems accept the video conference format. But all the preparatory work and preparation for the interview can be done remotely.
Our account opening services include:
Assistance in choosing a bank.
Preliminary check of the beneficiary's eligibility for banks.
Preparation of the package of documents on the company and the beneficiary for the bank.
Assistance with the formation of the history of the source of funds for the bank. Preparation, and collection of appropriate supporting documents.
The description of the business model of the company, so that it would be acceptable to the bank.
Filling in the bank forms.
Assistance with customer identification at the bank (interviews).
Further: we can assist in preparing the necessary documents confirming the bank account transactions.
The cost of opening a bank account abroad can be found here.
Everything about tax optimization of doing business in Ukraine and abroad here.
Tax optimization and tax planning in Ukraine
Start a business abroad
What should a foreigner do with an LLC in Ukraine that does not operate?
How to make your business financial model work?


A man was taken to hospital after shooting himself in the leg in a residential city street last night.
The incident happened after armed police attended a business premises in Equity Road, off Narborough Road, West End, at 10.40pm.
When they arrived, a man left the scene.
Police said the man was believed to have then fired a gun, shooting himself in the leg, in nearby Beaconsfield Road.
The 24-year-old was detained by armed officers and arrested on suspicion of possession of a firearm.
He was taken to hospital. After being discharged he was taken into police custody, where he remains.
Police closed Narborough Road between Upperton Rd and Braunstone Gate to traffic overnight. It was re-opened early this morning.
Equity Road and Beaconsfield Road were closed to both traffic and pedestrians while the scene was examined. They re-opened this afternoon.
A fingertip search of Beaconsfield Road was carried out during the closure.
Forensic officers took photographs of a white car in Equity Road. They also searched the vehicle.
A student who lives in Equity Road described how he saw six armed police officers chase a man down the street and drag him out of a car.
Tom Evers, a third year forensic science student at De Montfort University, said he was in bed on Monday night when he heard a loud bang.
The 20-year-old said: "I leaped out of bed after I heard the bang. I wasn't sure what it was.
"Then I heard a male voice shout, 'Get down, get down'.
"He got into a white VW car, but they caught him and dragged him out of the driver's door."
Then a lot of police cars came into the street with blue lights flashing and sirens on.
Another Equity Road resident told how she had to spend the night at a friend's home because police refused to allow her to get to her house when she returned from work at about 11.30pm on Monday.
The resident said she had got a taxi home at about 11.30pm, after her first day at a new job in a warehouse.
She said: "The taxi wasn't allowed to go up to the top of the street where I live, so I got out.
"The road was taped off. A police officer told me I couldn't go into my house as the road was being protected as a crime scene.
"The police didn't tell me what had happened.
"I was with a friend, so we went to his for an hour and came back, but I was told I couldn't go into my house.
Due to the fact that police were in attendance at the time the man was injured, a mandatory referral is due to be made to the Independent Office for Police Conduct (IOPC).
A Leicestershire Police spokesperson said: "At about 10.40pm last night, officers attended a business premises in Equity Road, Leicester.
"On arrival, a man fled the scene on foot and is believed to have discharged a firearm in Beaconsfield Road.
"He was quickly detained by officers and was taken to hospital for gunshot wounds to his leg.