10. Legal issues of work

Sometimes it seems that a remote company is difficult to maintain legally. The distance makes the process of signing contracts, making payments, paying taxes, and so on as inconvenient as possible. In addition, the principle of remote work does not allow for keeping documents, as is right and habitual, with all signatures, seals, and a stack of acts filed into a folder.

In fact, there are no problems with doing business; everything is quite convenient.

Of course, remote mode excludes paper-based workflow, especially in cooperation with foreign clients. And there is no need for the exchange of endless copies of contracts or acts, the collection of a mass of signatures and seals. All legal issues can be easily solved in electronic format. This is what we do without problems, both with customers and employees.

Here is a list of legislation that greatly simplifies the legal aspect of a remote business.

1. A seal is optional

According to the Law of Ukraine No. 1982 dated March 23, 2017, legal entities and private individuals are not required to use a seal to certify documents. For a document to be considered valid, the signature of an authorized person is sufficient.

2. Remote account opening

Any organization or private person is entitled to open a current account with a foreign bank. The main thing is to correctly produce a set of documents that can be provided remotely.

3. An invoice for currency control

When a foreign customer pays for services, first the money is deposited in a special transit account with a bank. To get and use them you need to prove the transaction. An invoice is enough for this, where there is information about you, the counterparty, the service, the timing, amount, and form of payment. This greatly simplifies the process, since there is no need to provide the bank with a full contract to confirm cooperation.

4. The validity of the electronic signature

You do not have to exchange documents with wet seals and signatures. According to the Law of Ukraine “On Electronic Documents and Electronic Document Management,” digital documents are equated to the original if there are details and an electronic signature. Therefore, we always indicate in the contract or invoice that the electronic copy has equal legal force with the paper original. And we do not use any other mail for delivery, except email.

5. Electronic document management services

For tax reporting, documentation is conveniently stored in special applications for electronic document management. In addition, we collect all paper versions in a separate repository.

6. Taxes

Each party pays taxes in accordance with the laws of the country in which they reside or the company is registered.

When a foreign customer pays for services, first the money is deposited in a special transit account with a bank. To get and use them you need to prove the transaction. Sometimes, only an invoice is enough for this, where there is information about you, the counterparty, the service, the timing, amount, and form of payment. In some cases, the bank may require a contract and an act of completed work, other additional documents. This package depends on the internal policy of the bank, regulations of the Central Bank, and tax legislation. In any case, all questions can be closed electronically, and this does not take much time.