Non-trading / dormant company

[TheMentalist]

Hi,
Which country would be the best for forming an Non-trading / dormant company with minimal or no booking and low paperwork to do?
I need it just for a public website because it is legally required but accounting would go through my real company here.

Thanks!

 

[clemens]

Go for a Seychelles company. You don't need to do anything after you paid the 600 USD costs to setup the company. They will ask you to sign a letter for where you keep your accounting but no one will ever ask for it.

 

[CaptK]

If you are truly going to keep it dormant and run the business through your other company the UK LTD will be the cheap.

 

[Perry8]

Go for a Seychelles company. You don't need to do anything after you paid the 600 USD costs to setup the company. They will ask you to sign a letter for where you keep your accounting but no one will ever ask for it.

Agree. Seychells an Belize are the most inexpensive offshore options.

If you are truly going to keep it dormant and run the business through your other company the UK LTD will be the cheap.

True. If you open a UK ltd now, your first filing requirement will be in 2022 (November). But, you can file it as a company that has no activity in the UK and then it will be considered dormant. If a company is considered to be dormant by HMRC then it will be exempt from the requirement to file an annual corporation tax return. Please note you will still have filing requirements. A private company that qualifies both as ‘small’ and ‘dormant’ need only submit to Companies House an unaudited abbreviated balance sheet and certain prescribed notes. In addition it must file an annual confirmation statement. So, it is a very simple yearly filing.

 

[clemens]

If privacy matters just 5% you go for the Seychelles setup!

 

[TheMentalist]

Thanks!
So as I can see Seychelles would be the best option, it is a little more expensive to incorporate but there would be no annual requirements to submit anything.

 

[clemens]

Yes, UK is cheaper but lot's of requirements, you won't be able to avoid accounting and tax filing unless you give up the company!

 

[TheMentalist]

So I could even open an account at 2CO and TransferWise and make some small transactions ($100-$500)?
Since I live in the EU I don't want to risk anything big.