Hey guys,
I am looking for a jurisdiction where to form a new business for tax reasons.
Me and my partner are Ukrainians, and my partner is resident in Italy. We are about to launch our online shop (shopify) with jewelry line that will further expand into original clothing. The business is 100% legal. We start small and going to scale to 10000euros in a couple of month, with later growth up to 50k a month.
The products are made in Italy and gonna be sold primarily in EU and rest of the world, but later the main market will be in Asia.
We are looking for a stable structure that could allow us to have corporate bank account + merchant bank account + PP or Stripe or 2co.
From what I found from other threads on this forum is that there are following possibilities:
- UK ltd or Irish ltd + merchant/corporate bank account (high deposits for non-UK residents?) Possible with EMI?
- Malta
- Cyprus (account fees cost an arm and a leg)
- UAE FZ
- Bulgaria or Latvia (but Bulgaria doesn’t have a full PP)
- Mauritius + Mautitius Commercial Bank (unknown destiny because of planned EU-US regulations)
- HK + HK EMI + PP (Is choosing EMI a good idea?)
or
Singapore (high costs for formation, accounting fees and personal visit needed)
UAE FZ option, Malta with Nominee Director or Irish Ltd looks interesting for now.
What would you suggest as the best jurisdiction (in terms of cost of formation vs legal burden and tax) for small-medium business with potential for growth? Or maybe other scheme you would suggest? (Holding company + UK Agent?)
We are looking in long term period taking into account that offshores are getting shut down, and US and EU are looking at everyone's pockets.
Much appreciated!
I am looking for a jurisdiction where to form a new business for tax reasons.
Me and my partner are Ukrainians, and my partner is resident in Italy. We are about to launch our online shop (shopify) with jewelry line that will further expand into original clothing. The business is 100% legal. We start small and going to scale to 10000euros in a couple of month, with later growth up to 50k a month.
The products are made in Italy and gonna be sold primarily in EU and rest of the world, but later the main market will be in Asia.
We are looking for a stable structure that could allow us to have corporate bank account + merchant bank account + PP or Stripe or 2co.
From what I found from other threads on this forum is that there are following possibilities:
- UK ltd or Irish ltd + merchant/corporate bank account (high deposits for non-UK residents?) Possible with EMI?
- Malta
- Cyprus (account fees cost an arm and a leg)
- UAE FZ
- Bulgaria or Latvia (but Bulgaria doesn’t have a full PP)
- Mauritius + Mautitius Commercial Bank (unknown destiny because of planned EU-US regulations)
- HK + HK EMI + PP (Is choosing EMI a good idea?)
or
Singapore (high costs for formation, accounting fees and personal visit needed)
UAE FZ option, Malta with Nominee Director or Irish Ltd looks interesting for now.
What would you suggest as the best jurisdiction (in terms of cost of formation vs legal burden and tax) for small-medium business with potential for growth? Or maybe other scheme you would suggest? (Holding company + UK Agent?)
We are looking in long term period taking into account that offshores are getting shut down, and US and EU are looking at everyone's pockets.
Much appreciated!