I've recently started a company to test an idea, and will likely be shutting it down shortly, but it led me to realize the potential difficulties of the world of corporations.
In particular, I set up a Delaware LLC, but I am not a US citizen nor resident. I'm an EEA citizen. Currently I don't fulfil the requirements for being tax resident of any country, but my most recent residencies have been in the EEA and I use this for KYC. While I could set up the corporation with relative ease, getting banking is substantially harder, especially as I'm unfortunately a persona non grata at Wise for unrelated reasons (basically just being high risk and low revenue on a personal account).
I figured the US was best for dealing with US clients, but I'm now open to exploring other options. I'm looking to set up a dormant company that is ready for my next venture, so I don't need to wait months to get banking etc. set up. I'm less concerned about 0 corporate tax at this stage as this is mainly an entity I'll use for the startup process and I can transition to a more efficient structure when I make more money. What countries should I look at which will allow easy setup, access to banking, and generally low ($100's per year) setup and maintenance cost while inactive?
In particular, I set up a Delaware LLC, but I am not a US citizen nor resident. I'm an EEA citizen. Currently I don't fulfil the requirements for being tax resident of any country, but my most recent residencies have been in the EEA and I use this for KYC. While I could set up the corporation with relative ease, getting banking is substantially harder, especially as I'm unfortunately a persona non grata at Wise for unrelated reasons (basically just being high risk and low revenue on a personal account).
I figured the US was best for dealing with US clients, but I'm now open to exploring other options. I'm looking to set up a dormant company that is ready for my next venture, so I don't need to wait months to get banking etc. set up. I'm less concerned about 0 corporate tax at this stage as this is mainly an entity I'll use for the startup process and I can transition to a more efficient structure when I make more money. What countries should I look at which will allow easy setup, access to banking, and generally low ($100's per year) setup and maintenance cost while inactive?
