A simple, non-espensive offshore company for a freelancer

[patituanez]

I'm a freelancer and consultant. I need some simple offshore company in a more or less reputable jurisdiction. The reason I need it is because some companies haven't been willing to work with me as an individual.

Criterias:

1) relatively reputable jurisdiction

2) relatively cheap to set it up and sustain it

3) Taxes may not be low necessarily

4) Not too much paper work and scrutiny


Belize, Samoa and Seychelle won't work for me. Not the US either I think.

Your advice?

 

[patituanez]

Note that I'm moving around, I'll stay in one country for a few months per year.

 

[Spinat]

You may setup a UK company which also is able to apply for banking with EMI's and payment providers if required.

 

[patituanez]

You may setup a UK company which also is able to apply for banking with EMI's and payment providers if required.

Which UK company? BVI? Or Island Man? Or UK itself?

will that meat all my requirements?

 

[user9823671]

IF companies won't work with you as an indvidual, they will not work with you as a belize / BVI / offshore / tax haven either.

You will need a reputable jurisidiction. Your home country is probably the best / easiest. If you are non-resident there and really do move around a lot and do NOT return home for extended periods, so no country really has a tax claim on you, then picking a reputable jurisdiction and paying tax there is your choice (from what I understand). If you are from Europe, you can try some low tax jurisdictions so you are paying some tax, but as to how that looks when you have no connection to the place I don't know.

Picking the UK (as in the actual UK) is a good choice as it has a good business reputation and even if you have no connection there, it doesn't look funny

 

[Artemis Eleutheria]

Which UK company? BVI? Or Island Man? Or UK itself?

will that meat all my requirements?

London is your best bet, Ireland, Netherlands or Switzerland would also work but not as good. However that is today, Brexit may cause withholding tax on payment of services such as yours ... nobody really knows how this is going to play out in the end ... and we are likely to stay in a limbo for a while in any case.

Should be noted that choice of location depends upon country (ies) that you are invoicing to.

 

[patituanez]

Your home country is probably the best / easiest.

--->

Note that I'm moving around, I'll stay in one country for a few months per year.

 

[patituanez]

Should be noted that choice of location depends upon country (ies) that you are invoicing to.

upon ... any country in the world. I'm a freelancer, potentially my customer can be located anywhere

 

[patituanez]

How much will setting up a company and, probably, a bank account in London cost? A company of the simplest type.
Can it be done by myself or will I need to find an agent?

Is it possible to do it remotely?

 

[Artemis Eleutheria]

upon ... any country in the world. I'm a freelancer, potentially my customer can be located anywhere

Move from potentially to probably or actually ... then your options will become clearer.

 

[neweraoffshore]

Why you think the US won't work for you?
When it comes to freelancing, especially in IT stuff the US is quite a nice place to incorporate.
UK as @blueweb said is good and Hong Kong and Canada would also be good for freelancers if you want/need a reputable jurisdiction.

 

[patituanez]

Move from potentially to probably or actually ... then your options will become clearer.

You may replace the word potentially with probably or actually if you want to

 

[Artemis Eleutheria]

Then not much anyone here can do for you I think....

 

[patituanez]

Then not much anyone here can do for you I think....

Not anyone. But you. Not a big problem.

 

[fshore]

London is your best bet, Ireland, Netherlands or Switzerland would also work but not as good. However that is today, Brexit may cause withholding tax on payment of services such as yours ... nobody really knows how this is going to play out in the end ... and we are likely to stay in a limbo for a while in any case.

Should be noted that choice of location depends upon country (ies) that you are invoicing to.

What countries have withholding tax on services performed by non residents abroad?

 

[Artemis Eleutheria]

Not sure why I bother, also the guy has not specified that he is NOT physically present in the jurisdiction he wants to bill to in order to deliver his services.

https://www.dlapiperintelligence.co...withholding tax applies,to a person or entity.

 

[TacitusKilgore]

Why you think the US won't work for you?
When it comes to freelancing, especially in IT stuff the US is quite a nice place to incorporate.
UK as @blueweb said is good and Hong Kong and Canada would also be good for freelancers if you want/need a reputable jurisdiction.

Though definitely reputable, Hong Kong is quite expensive (in terms of time as well). You need financial statements of your company both prepared and audited every year which is a pain and not cheap. I would stay away from HK if you can, OP.

Setting up a UK private limited company is quick and easy and also very cheap, but terrible for privacy if that's something important to you. Your name will show up in the company's PSC (people with significant control) register and as a director and this information is available freely to anybody who looks it up online which is very easy to do.

If privacy is not a problem then I probably recommend a UK company for cheapest incorporation... Otherwise maybe try a Wyoming LLC which is cheap to incorporate and keep afloat, and is pretty close to the best of both worlds in terms of privacy and low-cost.

 

[CaLViN]

When it comes to reputation,UK is my first choice.
Ability to handle tax to nearly ZERO is an advantage!

 

[patituanez]

I've read about the UK company, an LTD will work. Thanks everybody.

1) I won't be able to open a bank account in the UK as a non resident. When I open a bank biz account for my LTD in other country, where will then I have to pay taxes? In the UK? Or that country where my biz account is? Or in both?

2) I've got bank accounts in several countries already, as an individual. What will I do: open a new biz account in one of the banks I have an account already? Or convert one of them to a biz one? Or open it in some new country?

 

[CaLViN]

I've read about the UK company, an LTD will work. Thanks everybody.

1) I won't be able to open a bank account in the UK as a non resident. When I open a bank biz account for my LTD in other country, where will then I have to pay taxes? In the UK? Or that country where my biz account is? Or in both?

2) I've got bank accounts in several countries already, as an individual. What will I do: open a new biz account in one of the banks I have an account already? Or convert one of them to a biz one? Or open it in some new country?

1) Wherever your bank account is ,you pay your taxes in the country of your company.

2) I dont think any bank would convert your personal accounts into corporate ones.Even if they do,this wont differ from applying from scratch as they will require all documents and you will have the same KYC procedures.

GL.