Hire a consultant or DIY?

[mbhemming]

Needs:
-incorporate offshore
-take payments to my offshore company (Stripe, PayPal, wire transfer)
-Be certain that I'm not in danger of being taxed by my home country (Canada)

Who am I?
-Some knowledge of the space but not the details. I've been watching the Nomad Capitalist youtube channel for 4 years
-Technical thinker

I don't really know how complicated this is and how easy it is to make critical mistakes...

Questions:
1) Should I hire a consultant to advise me or can this be done relatively easily alone?
2) How much does it cost to get a consultant that really knows their stuff well but isn't over-priced?

 

[Gediminas]

Hey,

If you are unsure about your tax situation, it is always recommended to speak with the advisors. At first, I would speak with the local tax advisor to find what taxes would be applied on the individual level.

Just keep in mind, even if you incorporate offshore with 0% taxes on the corporate level, you are still obliged to pay your local taxes.

Every situation is different and is based on personal circumstances, so speak with the professionals. Public opinion in forums might mislead you.

I hope this helps.

 

[comptemultidevises]

Fully aligned with @Gediminas above - most importantly, explain the full needs from beginning, as otherwise the solution you will get might not be appropriate (i am thinking especially about Paypal and Stripe accounts which have special requirements depending on the country of incorporation of the legal entity).

 

[Fred]

Hi,

you have to move if you want the 0% tax on company as well as on private level. In case your goal is the 0% tax rate.

Setting up a Dubai Company that grants you a 0% tax residence visa is a beginning.

The merchant accounts can be satisfied if you incorporate a UK LLP with your Dubai Company and you as partner.

See my answer here:
https://www.offshorecorptalk.com/threads/offshore-eea-company.32588/#post-164378
This setup would be a begining without any CRS reporting even if you don't want to move ASAP but to keep it legit over the years you have to move sooner or later. The latest would be 1-2 years before you want to remit funds stored in the Dubai Company back to Canada for example.

 

[mbhemming]

Thanks for the informative replies @Fred, @Gediminas, and @comptemultidevises.

How much should I be paying for a consultant that helps me with everything (corporate structuring, residencies, bank accounts, passports, etc)?

I want to get someone good but doesn't have overly inflated prices. Thanks

 

[Gediminas]

You will definitely be paying more when hiring professionals from big companies such as Deloitte or EY. But sometimes paying more isn't equal to more quality.

My team consists of a lawyer who specializes in structuring and international taxation. We both could help with all your needs. The fee would definitely be competitive (entry price point compared to big4), but it's hard to give the number at this point.

Let's schedule a call and see how we can help you. No obligations!

 

[Fred]

Thanks for the informative replies @Fred, @Gediminas, and @comptemultidevises.

How much should I be paying for a consultant that helps me with everything (corporate structuring, residencies, bank accounts, passports, etc)?

I want to get someone good but doesn't have overly inflated prices. Thanks

For the above mentioned solution with the Dubai Company Formation it's
Setup Fee: 8.000$
2nd Year: 5.000$

Free initial consulting call is included we work with a German Lawyer that is already living 7 years in Dubai as we are Germans as well. Since he did the setup 5 years ago for us not many has changed from the UAE side so most of the headache will come from the Canada side.