Left UK, now Looking for Ideal Jurisdiction to Incorporate Consulting Company

[bdt]

Hello!

Quite new to this forum, but stumbled upon it when Bermuda pulled the rug on the digital nomad visa and everyone has been so welcoming that I thought I'd ask a harder question!

British citizen, with active property interests (mainly in companies)
Antigua CBI in the final stages

Wife and I hoping to get pregnant super soon and then spend 5 or so years as expats in two idyllic destinations, to enjoy a slower pace of life and lower amount of tax. She's as much in the driving seat as me but we're enjoying looking at Caribbean, Portugal, or the Middle East (we loved Oman, but Dubai of course too). Want to do 5 years for obvious reasons: to make sure that any earnings aren't taxed when we arrive back to the UK to start to look for good schools!

Because I'm still very much actively involved in the companies, I want to be able to set up a consulting company that can charge the companies for my legitimate time (nb, some I own in my own name so would be taking dividends instead on them , but I'm not a company director or salaried staff, or even an investor, for some of them on paper and those would be of interest).

A friend's brother does tax advice for UHNW people and so I took him for dinner and got him drunk and he told me not to go with Antigua because of the rep (and I do want something stable), and instead said BVI or Jersey. I know Caymans are also a favourite.

I've also had a lot of people recommend Singapore to me (Marshall Wheeler), but I'm a little more hesitant about setting up so far away, and the tax position seems like more of a pain.

Looking for a blend of respectability, but still with favourable taxes. Crypto friendly would also be a plus too as I have been asked a few times now to consult on that and I wouldn't mind considering it if I'm not going to get slammed with account freezes and repetitive checks every five minutes by the bank I choose!

Anyway, thanks for any advice - and for taking the time to mull over our plan!

 

[ImKing]

You could look into Montenegro as many expats do.

 

[Martin Everson]

It sounds like you will soon be living the dream . Antigua is fine and if you complete the CBI even better.

Do you really want to setup a company just to get consulting income? I would keep things paperwork light and use a service like i.e Xolo Go (if they accept you) etc, to invoice the companies for services rendered.

The last thing you want to do is try and open accounts for companies in 2025 while living in some off the beaten path paradise. Trust me on that as someone in Bahamas....lol.

 

[Legal]

Hello!

Quite new to this forum, but stumbled upon it when Bermuda pulled the rug on the digital nomad visa and everyone has been so welcoming that I thought I'd ask a harder question!

British citizen, with active property interests (mainly in companies)
Antigua CBI in the final stages

Wife and I hoping to get pregnant super soon and then spend 5 or so years as expats in two idyllic destinations, to enjoy a slower pace of life and lower amount of tax. She's as much in the driving seat as me but we're enjoying looking at Caribbean, Portugal, or the Middle East (we loved Oman, but Dubai of course too). Want to do 5 years for obvious reasons: to make sure that any earnings aren't taxed when we arrive back to the UK to start to look for good schools!

Because I'm still very much actively involved in the companies, I want to be able to set up a consulting company that can charge the companies for my legitimate time (nb, some I own in my own name so would be taking dividends instead on them , but I'm not a company director or salaried staff, or even an investor, for some of them on paper and those would be of interest).

A friend's brother does tax advice for UHNW people and so I took him for dinner and got him drunk and he told me not to go with Antigua because of the rep (and I do want something stable), and instead said BVI or Jersey. I know Caymans are also a favourite.

I've also had a lot of people recommend Singapore to me (Marshall Wheeler), but I'm a little more hesitant about setting up so far away, and the tax position seems like more of a pain.

Looking for a blend of respectability, but still with favourable taxes. Crypto friendly would also be a plus too as I have been asked a few times now to consult on that and I wouldn't mind considering it if I'm not going to get slammed with account freezes and repetitive checks every five minutes by the bank I choose!

Anyway, thanks for any advice - and for taking the time to mull over our plan!

What do you think about Gibraltar and Guernsey?

 

[wellington]

Live in Thailand, operate from HK...

 

[bountymounty]

Live in Thailand, operate from HK...

If I could live in Thailand I would follow your advise. But that country isn't for me, sadly.

 

[JustAnotherNomad]

Set up a US LLC and live in a tax-free or less developed country. No need to do anything else.

And definitely don't use Xolo Go, it's a ripoff.

 

[Cloudbanck]

Set up a US LLC and live in a tax-free or less developed country. No need to do anything else.

Exactly! Been doing this for 4 years now, no issues, been life changing.

 

[FZSAAS]

Holdco or normal company rak icc UAE, or rakez, no minimum stay requirements. No tax on salary or dividends. Live where you want, visit there for board meetings. No salary cap

 

[lory]

Holdco or normal company

What is that, sorry not knowing these terms?

 

[daniels27]

What is that, sorry not knowing these terms?

I think it means holding company.

 

[lory]

I think it means holding company.

of course

 

[FZSAAS]

https://www.rakicc.com/services/holding-company/

 

[James Turner]

Hello!

Quite new to this forum, but stumbled upon it when Bermuda pulled the rug on the digital nomad visa and everyone has been so welcoming that I thought I'd ask a harder question!

British citizen, with active property interests (mainly in companies)
Antigua CBI in the final stages

Wife and I hoping to get pregnant super soon and then spend 5 or so years as expats in two idyllic destinations, to enjoy a slower pace of life and lower amount of tax. She's as much in the driving seat as me but we're enjoying looking at Caribbean, Portugal, or the Middle East (we loved Oman, but Dubai of course too). Want to do 5 years for obvious reasons: to make sure that any earnings aren't taxed when we arrive back to the UK to start to look for good schools!

Because I'm still very much actively involved in the companies, I want to be able to set up a consulting company that can charge the companies for my legitimate time (nb, some I own in my own name so would be taking dividends instead on them , but I'm not a company director or salaried staff, or even an investor, for some of them on paper and those would be of interest).

A friend's brother does tax advice for UHNW people and so I took him for dinner and got him drunk and he told me not to go with Antigua because of the rep (and I do want something stable), and instead said BVI or Jersey. I know Caymans are also a favourite.

I've also had a lot of people recommend Singapore to me (Marshall Wheeler), but I'm a little more hesitant about setting up so far away, and the tax position seems like more of a pain.

Looking for a blend of respectability, but still with favourable taxes. Crypto friendly would also be a plus too as I have been asked a few times now to consult on that and I wouldn't mind considering it if I'm not going to get slammed with account freezes and repetitive checks every five minutes by the bank I choose!

Anyway, thanks for any advice - and for taking the time to mull over our plan!

To be honest @bdt you have a lot of options in terms of countries to incorporate in and to either bank in or bank somewhere seperately, where no local corporate taxes will apply.

The most important thing is to know which location you will definately settle in, so that local rules can be taken into account, otherwise you could create a company structure that just doesn't work for your residential location.

 

[GPT]

Where are your opco’s, shareholdings, clients? Make sure to found something in a jurisdiction that doesn’t complicate engaging with the aforementioned activities.

Plus you don’t have to live where your holding company is. Just find the solution that works and doesn’t complicate transactions.

 

[bdt]

Where are your opco’s, shareholdings, clients? Make sure to found something in a jurisdiction that doesn’t complicate engaging with the aforementioned activities.

Plus you don’t have to live where your holding company is. Just find the solution that works and doesn’t complicate transactions.

wow this got so many responses! I'm shocked, don't know even where to start!! thank you to everyone!

almost all of my work would be done for UK clients / companies and we'll most likely end up back there as I said (though I've heard the UHNW cycle 180 / 120 / 120 days a year without becoming resident but i think the ties test would get me before that generous allowance)

I agree with the overall sentiment - don't complicate things and don't work with jurisdictions that will just cause hassle. I think that might mean stay out of Caribbean altogether, but that leaves HK, SG, UAE... and surprisingly US, yes

 

[bdt]

Set up a US LLC and live in a tax-free or less developed country. No need to do anything else.

And definitely don't use Xolo Go, it's a ripoff.

Yeah I actually heard someone mention this recently and it seems too good to be true! My wife has a green card, and I already have banking in US because of it so it would be lovely.

Am i right in thinking that you'd be able to register in Delaware and then only pay federal tax, but get a foreign tax credit, bringing you to about 10% taxes?

I suppose the fear is that the any of this changes (a lot is certainly changing stateside at the moment!) and you're left in the same position as the UK (20-25%)

 

[bdt]

Holdco or normal company rak icc UAE, or rakez, no minimum stay requirements. No tax on salary or dividends. Live where you want, visit there for board meetings. No salary cap

Have you ever had problems with banks? I've heard they're a nightmare for crypto related transactions?

 

[bdt]

It sounds like you will soon be living the dream . Antigua is fine and if you complete the CBI even better.

Do you really want to setup a company just to get consulting income? I would keep things paperwork light and use a service like i.e Xolo Go (if they accept you) etc, to invoice the companies for services rendered.

The last thing you want to do is try and open accounts for companies in 2025 while living in some off the beaten path paradise. Trust me on that as someone in Bahamas....lol.

That's a cool company! I'd never heard of it before. 5.9% fee is pricey, but I suppose you're paying for simplicity.

Incidentally, I remember you from my post about Bermuda shutting down the digital nomad visa: Bahamas appeals to me - wife likes sound of Antigua because it's one of the safer islands and her family think it sounds exotic haha - because I feel like it might be a little more developed / connected to the world... just for when the honeymoon wears off and you realise you're firmly on island time... Imagine you've already written about your take on moving there somewhere else on here so if you wouldn't mind linking me that would be interesting?

 

[bdt]

Live in Thailand, operate from HK...

Can't swing Thailand with the missus (I love it) because it's a little too far away from her family timezone-wise! Not even the latest season of White Lotus will do it!

Interesting you mention HK over SG? Did you work with a company to get started and was it tough getting the bank accounts etc