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Offshore company and bank account for doing business with EU companies

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BigGainz

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Oct 17, 2019
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#1
I am individual from eastern europe which wants to open/buy offshore company with bank account so I can send invoices to companies(from my country and within EU) I currently work with but I'm not totaly sure which country to choose.

So the currently I have a contract with my employee and I am paying all my taxes and everything to my country but recently I was thinking to establish an offshore company and "redirect" all my money there so it will be safe from the eyes of EU but I have no experiance with offshore banking or offshore companies and I am still learning which is the best country to do this. I read that countries like Malta, Cyprus, Liechtenstein, Gibraltar etc. will not be "good" anymore after 2020 when 5AMLD takes effect so I am starting to think that Singapore, Hong Kong and so on are more likely to be the best choice for me.

So my question is, which is the "best" country to open offshore company & bank account to cooperate with EU companies without any major issues and what is the overall process for personal income tax and what are monthly obligations and annualy obligatoins for keeping this offshore company & bank acc?
 
#2
So far from reading the forum only it looks like the best suggestion would be to look into a Georgia company with banking there. You can setup everything for less than 2000 euro and it sounds to be cheap to maintain the company.
 
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#4
There are no really links, but you can use the SEARCH field on this forum to find lots and lot of information about all of this including the wealth of information there is around Georgia company formation.

First step to get into all of this, don't be lazy research and learn ;)
 
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#6
Most of the threads you will find on this forum are frequently updated with latest information from the many users around here. If it was a BLOG as some people believe this to be then it was a different case and I agree.

Use Google if you still miss information and enter: site:offshorecorptalk.com Georgia company now you will be suprise to what you will find of almost up to date information.
 
#7
It depends where you reside and the local rules, but in a lot of cases simply forming a company and trading through that will not provide you with an instant tax benefit in your home country. If your intention is to properly structure a company and banking so that your tax liabilities are legally reduced then that can be possible, but if you intend to simply rely on anonymity then this generally will not work for tax purposes and could (again depending on where you reside) be illegal. Creating a structure to meet your requirements in likely possible, but needs proper consideration.
 
#8
I lost the access to BigGainz so I created new account and will reply from this account from now on.

Admin said:
Most of the threads you will find on this forum are frequently updated with latest information from the many users around here. If it was a BLOG as some people believe this to be then it was a different case and I agree.

Use Google if you still miss information and enter: site:eek:ffshorecorptalk.com Georgia company now you will be suprise to what you will find of almost up to date information.
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I am searching now for juicy data about offshore services in Georgia. Thanks for pointing me in the right direction :)

Cetme308win said:
USA works well also but banking for such companies gives you a lot of troubles....I found some banks in Puerto Rico where they open accounts for non resident US LLCs
Click to expand...
no offense but I will rather stay away from USA


James Turner said:
If your intention is to properly structure a company and banking so that your tax liabilities are legally reduced then that can be possible
Click to expand...
That exactly is my goal. Not trying to do anything illegal or anything shady.
 
#9
MarginTrader said:
I lost the access to BigGainz so I created new account and will reply from this account from now on.


I am searching now for juicy data about offshore services in Georgia. Thanks for pointing me in the right direction :)


no offense but I will rather stay away from USA



That exactly is my goal. Not trying to do anything illegal or anything shady.
Click to expand...
In that case I would suggest that something can be done to help you.
 
#11
lavel said:
But what exactly you believe can be done for that guy? I'm interested to know my options.
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I know right. It's not help if you just type that something can be done to help you/me. I did a little research and I found out that my country have an agreement for AML with Georgia so I guess Georgia is not the best option for me.
 
#15
MarginTrader said:
Around 5.000€
I don't know for my budget for this setup because I even don't know what I need to have to accomplish all this. Why do you ask ?
Click to expand...
Most often it is not worth the costs to setup the offshore company and banking including accounting and all other mandatory tasks you need to have done compared to the profits.
 
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