What is Rent a Company service?
Rent a Company service is based on the “company sharing” business model pioneered by Fast Invoice. Numerous users may share one or more existing companies to invoice their clients and get paid, thus avoiding all costs and paperwork of incorporating their own company. When the rented company receives their clients’ payment(s), users can withdraw funds to their account as a secondary income or dividend.
What types of businesses does Fast Invoice support?
Through Fast Invoice rented company you can provide various services such as consulting, software development, design, writing & translation, online marketing and many other services as well as sell various digital products.
How to sign up for Fast Invoice Rent a Company service?
Signup procedure on Fast Invoice website is very simple. After you enter your name, email and select your password in signup form, you should receive an email with the confirmation link to access your Fast Invoice Dashboard. To get verified you must update, in your Dashboard, your profile details and enter several pieces of information about your business that Fast Invoice Office will be used for.
What documents do I have to provide in order to get verified?
We usually need only the copy of your passport or some other document containing a photo and utility bill to verify your address. It is also very important that your business model is explained well so that our legal department can understand your business requirements and make the final decision based on it.
How long does the verification process take?
The verification process is usually done in just a few hours but in some cases it can take up to 24 hours.
After my account is verified, what should I do next?
After obtaining the verification you can add your first client, create a contract with them for your project or work and, after the contract has been signed through the online form, you can issue invoices from Fast Invoice Company to the client and receive payments from them. When the payment arrives, you will get a notification after which you can request a withdrawal to your bank account or your personal Fast Invoice debit card.
May I change my profile details after I get verified?
Once your profile is verified, you cannot change your profile details anymore.
When can I start using the rented company?
You can start using the rented company as soon as your profile is verified.
In which countries is Fast Invoice service available?
Fast Invoice Rent a Company service is fully available in over 150 countries, meaning that you can use the service if you come from one of those countries and you may have business activities with clients and suppliers from those countries. The service is not available for users from the United States, but having business activities with the US clients and suppliers is supported if the user is from any of the fully supported countries. Here is the list of fully supported countries: Aland Islands, Albania, American Samoa, Andorra, Angola, Anguilla, Antarctica, Antigua and Barbuda, Argentina, Armenia, Aruba, Australia, Austria, Bahamas, Bahrain, Barbados, Belarus, Belgium, Belize, Benin, Bermuda, Bhutan, Bosnia and Herzegovina, Botswana, Brazil, Brunei Darussalam, Bulgaria, Canada, Cape Verde, Cayman Islands, Chile, China, Christmas Island, Cocos (Keeling) Islands, Colombia, Cook Islands, Costa Rica, Croatia, Cyprus, Czech Republic, Denmark, Dominica, Dominican Republic, El Salvador, Estonia, Falkland Islands (Malvinas), Faroe Islands, Fiji, Finland, France, French Polynesia, French Southern Territories, Gabon, Georgia, Germany, Ghana, Gibraltar, Greece, Greenland, Grenada, Guam, Guatemala, Guernsey, Guyana, Hong Kong, Hungary, Iceland, Indonesia, Ireland, Isle of Man, Israel, Italy, Jamaica, Japan, Jersey, Jordan, Kazakhstan, Kiribati, Kosovo, Kuwait, Latvia, Lesotho, Liechtenstein, Lithuania, Luxembourg, Macedonia, Maldives, Malta, Marshall Islands, Martinique, Mauritius, Mayotte, Mexico, Micronesia, Moldova, Monaco, Mongolia, Montenegro, Montserrat, Morocco, Namibia, Nauru, Nepal, Netherlands, New Caledonia, New Zealand, Nicaragua, Norfolk Island, Northern Mariana Islands, Norway, Oman, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Pitcairn, Poland, Portugal, Puerto Rico, Qatar, Romania, Russia, Saint Helena, Saint Kitts and Nevis, Saint Lucia, Saint Vincent and the Grenadines, Samoa, San Marino, Sao Tome and Principe, Saudi Arabia, Serbia, Seychelles, Singapore, Slovakia, Slovenia, Solomon Islands, South Africa, South Georgia and the South Sandwich Islands, South Korea, Spain, Suriname, Sweden, Switzerland, Taiwan, Thailand, Tokelau, Tonga, Trinidad and Tobago, Tunisia, Turkey, Turks and Caicos Islands, Tuvalu, Ukraine, United Arab Emirates, United Kingdom, United States, Uruguay, Vanuatu, Virgin Islands (British), Wallis and Futuna
May I close my Fast Invoice account anytime?
Yes, you may close your Fast Invoice account with just a few clicks without any commitment or additional cost.
May I start using Fast Invoice service without a setup cost and fixed monthly fee?
Yes, there is no initial nor monthly cost for using the Fast Invoice Professional L Plan. However, if you decide to upgrade to the Professional XL Plan to get your Fast Invoice debit card, an annual fee of 49 EUR will be charged.
What fees do I have to pay for using Fast Invoice service?
Fast Invoice fees are based only on your business activities. This means that you have to pay the fee only when you use the rented company. We charge only 6.60% of the income received from your clients as the Partnership Fee. The Processing Fee in a fixed amount of 4.50 EUR applies to sent and received bank payments and withdrawals. If the payment is sent to or received from a country outside the SEPA (Single Euro Payments Area), the additional International transaction Fee in the amount of 15.50 EUR or Intermediate Bank Fee may be charged.
Do you provide a tool to calculate Fast Invoice fees for various transaction amounts?
Yes, you can use Fast Invoice FEES CALCULATOR to see how much you will be able to withdraw from the amount paid by your client after all fees are charged, or how much your client should pay if you know the exact amount you would like to withdraw.
Do I have any accounting or corporate tax duties for the rented company?
Except the regular Fast Invoice's fees based on your business activities, there is no additional accounting nor tax duties in regard to the rented company. We cover all regular costs and tax duties of the rented company, as well as take care of the accounting and paperwork so that you do not need to take care of such matters yourself.
Is it possible to upgrade or downgrade my plan at any time?
Yes, you can upgrade or downgrade your Fast Invoice plan any time.
What if I need a custom service which is not included in Fast Invoice's regular offer?
One of the specialties of Fast Invoice's service is the possibility to fulfill different business requirements of our customers. So, if you need any kind of service which is not mentioned as a part of our regular offer, please share your requirements with us and we will try to find the best possible solution for it.
What information will be displayed on the invoices issued to my clients?
Since you can choose whether you want to issue invoices from our Irish or Malaysian company, all details of the selected Fast Invoice Company will be displayed on the invoices, as well as details belonging to your client. Also, to create an invoice you have to enter a description of the service provided together with its price. After you create the invoice, it undergoes the verification process and only after it has been approved by our department can it be sent to your client.
Here you can see the sample invoice issued from the Fast Invoice Irish Company: Fast Invoice invoice sample
What currencies may be displayed on the invoices issued to my clients?
The main currency in the Fast Invoice Office is EUR, but except for the EUR, you can choose USD as the alternative currency to be displayed on the invoice issued to your client. Payment received in USD from any country is treated as the International payment, meaning that the additional International transaction fee in amount of 15.50 EUR will be charged, even if the payment has been sent from one of SEPA countries. Payment received in USD is automatically converted to EUR at the regular conversion rate offered by the banks and displayed in your Fast Invoice Account in EUR currency.
After the invoice is created and approved, how it will be delivered to my client?
After the invoice is approved, you will get a notification and then you can download it as a PDF document from your Fast Invoice Dashboard and send it to your client by email.
Where do I see the funds received from my clients?
After your invoice is approved and sent to your client, you get the notification as soon as the payment for it has been received. Transaction history and information about the available funds are displayed in your Fast Invoice Office Dashboard, so you can always know what amount is available for withdrawal or payments to your suppliers.
How can I send a payment to my supplier?
Sending a payment is very easy; you just need to fill in the payment order form and upload the invoice from your supplier. After you create the payment order, it goes through the approval process and once approved, the payment will be sent to your supplier from the rented company.
Can I send a payment to a private individual or only to a business entity?
You are allowed to send bank wire payments only to business entities that are able to provide a valid invoice for your payment. If you have individual associates, you may ask them to sign up for the Fast Invoice Office and then you can send them internal Office-to-Office payments.
How long does it take for a payment order to be processed?
Each payment order goes through the approval process by our department, which usually takes a couple of hours (1 working day is the maximum amount of time). After that, if the payment order is approved, it is processed the same day. However, sometimes it can take up to 3-4 working days for the payment to reach the recipient's bank account.
What is the nature of withdrawal from Fast Invoice, i.e. how should I report the money received from Fast Invoice to my local tax authority?
If you are an individual, all withdrawals from Fast Invoice balance are considered and paid to you as your secondary income. However, if you are a shareholder of Fast Invoice company then they can be considered and paid out as your dividend.
What is the minimum amount required for withdrawal to the bank account?
The minimum amount you can withdraw from Fast Invoice Office to your bank account is 100 EUR.
May I withdraw funds to the bank account which is not under my name?
Bank account owner details for withdrawal purpose have to be the same as your profile details.
Is it required that my bank account has to be in my country of residence?
You can withdraw your funds to any personal bank account under your name in any country; it does not have to be your country of residence. If you create a withdrawal request to your bank account which is in country outside the SEPA, the additional International transaction fee (15.50 EUR) will be charged.
How long does it take for withdrawal request to be processed?
The request is usually processed the next working day, but sometimes it could take few days for funds to be visible on your bank account.
How can I get the Fast Invoice debit card?
To get the Fast Invoice debit card you should subscribe for the Professional XL plan which costs 49 EUR per year. After the Professional XL plan has been activated, you should receive the card at your home address within the next 10-12 days.
Do I have to activate my card when I get it or it is immediately active?
When you receive your Fast Invoice Debit card, first you have to enter the last 4 digits of your card number in Fast Invoice Dashboard to confirm that the card was delivered to you. Then you should follow the instructions received with the card to get your PIN number and to activate your cardholder dashboard where you will have full control and history records of your transactions.
What type of card is the Fast Invoice debit card, Visa or Mastercard?
Fast Invoice debit card is a Visa card accepted at over 34 million points of sale and over 2 million ATMs.
What are the limits on the Fast Invoice debit card?
There are no limits for a daily number of transactions nor the amount spent on POS; it is determined by the balance on your card. ATM transactions are limited as follows: Max. number of transactions is 2 per day, max. amount per transaction is 1,000 EUR, max. amount per day is 2,000 EUR.
What are the fees for an ATM withdrawal from the Fast Invoice debit card?
Withdrawal from the Fast Invoice debit card is charged with 2.25 EUR in the Euro zone and 2.75 EUR outside the Euro zone (if the currency is not EUR, this is considered to be an international transaction).
What is the monthly maintenance fee for the Fast Invoice debit card?
There is 1 EUR monthly maintenance fee charged by the debit card service provided and it is automatically charged from your debit card balance.
After I get and activate the Fast Invoice debit card, how long I can use it?
You can use the Fast Invoice debit card as long as you have the Professional XL plan activated. However, the card has to be replaced with a new one every 3 years. The card replacement is covered within your Fast Invoice subsription without extra charge.