Hi everyone
I've been lurking reading some of the posts, but haven't found a reliable answer for my situation yet and was wondering if someone knowledgeable could provide some guidance.
I'm a tax resident of South Korea and have been looking into incorporating in either Estonia or maybe Singapore.
I'm running an online site where most of the profits come through Google Adsense and Paypal, but when I looked into opening an Estonian account I realized it would be very difficult without opening a local bank account and that doing Transferwise Business account would not solve my issue as their banking information is from Belgium.
As you might be aware, Adsense requires the bank and the company to be in the same country in order to receive the money.
To solve this, I looked into maybe registering a company in Belgium and transferring money to transferwise that way, but this adds another extra layer I would rather not deal with.
Alternatively I looked into the UK and maybe incorporating there, but once again, not sure if I'm allowed to have an Estonian company if the money is going to be coming into a UK account.
The easier solution I found was incorporating in Singapore, but the costs and also taxes that I would be responsible for are higher than with the Estonian option.
A lot of other options like Cyrpus would not work as Adsense doesn't allow me to have an account there.
Has anyone getting adsense income figured this out? What's the best option for an offshore incorporation for adsense based income?
Thank you in advance!
I've been lurking reading some of the posts, but haven't found a reliable answer for my situation yet and was wondering if someone knowledgeable could provide some guidance.
I'm a tax resident of South Korea and have been looking into incorporating in either Estonia or maybe Singapore.
I'm running an online site where most of the profits come through Google Adsense and Paypal, but when I looked into opening an Estonian account I realized it would be very difficult without opening a local bank account and that doing Transferwise Business account would not solve my issue as their banking information is from Belgium.
As you might be aware, Adsense requires the bank and the company to be in the same country in order to receive the money.
To solve this, I looked into maybe registering a company in Belgium and transferring money to transferwise that way, but this adds another extra layer I would rather not deal with.
Alternatively I looked into the UK and maybe incorporating there, but once again, not sure if I'm allowed to have an Estonian company if the money is going to be coming into a UK account.
The easier solution I found was incorporating in Singapore, but the costs and also taxes that I would be responsible for are higher than with the Estonian option.
A lot of other options like Cyrpus would not work as Adsense doesn't allow me to have an account there.
Has anyone getting adsense income figured this out? What's the best option for an offshore incorporation for adsense based income?
Thank you in advance!
