Offshore Company for Forex Signal Provider

[ForexSignals]

What's the cost for a company in Malta that suit your needs? It sounds to me to be the best solution if you are sure it works the way you want in regards to taxes I mean.

Just got a quote price of around €2,500

However, the annual cost are very expensive between minimum €4,500 and maximum €5,600. I feel this is way to much, it's even more than a Cyprus company.

 

[JohnLocke]

Agree, the setup costs are cheaper but if that's the annual fee including accounting and filing of taxes it's too much.

 

[adoffshore]

I mean the type of business you're going to do through your company. I'm going to provide a service so I wasn't sure if this is feasible.

I'm selling online stuff. Have partnered with a webmaster that has a shop and all online I just need to pay him some money to get 50% of his business.

 

[lookingforward]

Just got a quote price of around €2,500

However, the annual cost are very expensive between minimum €4,500 and maximum €5,600. I feel this is way to much, it's even more than a Cyprus company.

Not an unreal expert here "yet", but seems overpriced for me.

 

[belarus]

Just got a quote price of around €2,500

However, the annual cost are very expensive between minimum €4,500 and maximum €5,600. I feel this is way to much, it's even more than a Cyprus company.

Do you think there is a better jurisdiction for accomplishing this?

 

[ForexSignals]

Do you think there is a better jurisdiction for accomplishing this?

Not sure, but I want to explore the best option I have for my needs

 

[Houdini]

Yea 100% free until 50k, after 50k you start paying 1.9%, but seems like they have removed that promo.
I enjoy it

great! What are the startup costs to get setup there, you know that?

What after the 50k? ant per transaction fee?

 

[ForexSignals]

This is ridiculous, but Ocra has been trying to sell me a Malta setup for around $15k.

So hard to find a reliable consultant. I'm not looking for the cheapest service but I don't have either 10 of thousands of $$ to spend simply on a business that will generate <$100k/year (most likely around $50k-60k)

 

[3Pushes]

Hi, just found this thread and I have similar situation to the OP. I am currently looking at setting up in Hong Hong to rent Forex trading sofware via website to Metatrader Client. I am looking at Transferwise/Neat.HK for basic banking and will need to link Paypal. I won't be registering tax exempt as I think it's easier/cheaper to pay the corporate 8.25% tax initially. Does anyone have any reccomendations for reputable HK formation agent? I am considering profitaccounting.hk so far. Cost is about £1k included registered office.

 

[bountymounty]

without license you won't get any bank nor EMI account. Even if you have a license it won't work for you.

 

[3Pushes]

Thanks for your reply bountymounty .. what kind of license are you suggesting I would require to rent software online?

As far as I am aware what we plan to do does not fall within the definition of a regulated activity by the securities and futures commission? As below: (Taken from https://www.sfc.hk/web/EN/assets/co...-handbook/2019-01-31 - licensing-handbook.pdf)

Chapter 2Do you need a licence or registration?
2.1Types of regulated activity2.1.1Schedule 5to the SFO stipulates 10 types of regulated activity and providesa detailed definition for each of them.These activities are:
Type 1Dealing in securities
Type 2Dealing in futures contracts
Type 3Leveraged foreign exchange trading
Type 4Advising on securities
Type 5Advising on futures contracts
Type 6Advising on corporate finance
Type 7Providing automated trading services
Type 8Securities margin financing
Type 9Asset management
Type 10Providing credit rating services

We will not be carrying out any of the above. However this is something I wish for greater clarity on because I don't want to fall foul of the regulators.

In terms of EMI banking Neat.HK has said they will make a decision once we supply all the info, Currenixie has said they will open a business account and I am just waiting for a reponse from Transferwise which would be my preferance as I already hold a personal account with them.

If I am missing something here please do shout back.. as I want to make the right decision. And if not HK where would you reccomend?

Thanks, Andrew.

 

[bountymounty]

As long as you won't handle 3rd party funds there will be no need for a license. The problem you may find are bank which don't understand your business or simply don't want to open an account for your business because of high risk.

 

[3Pushes]

@bountymounty .. Hi, yes understood about the banking. I am hopeful we’ll get an EMI setup ok and also Paypal. If not will need an alternate, and would be keen to hear any ideas for an offshore business bank that can work with HK. I have a contact for Georgia already, would like some more options. We would be happy to pay for this introduction.

 

[bountymounty]

If it is still for the same business I have no clue. You may setup a cover business as suggested on the forum a few times.

 

[3Pushes]

@bountymounty For a banking description of business we are just renting out software. Surely that will be enough for EMI's? My business partner has an established VPS business registered in USA .. not sure if that will help.

If not I have been told I can get a business account for a HK company registered in Georgia if I open a personal savings account first (which is currently paying 10% interest!). So that's tempting anyway. Just slightly unsure of the currency risk atm. Intro is $300 to avoid going there to get cards shipped etc which seems fair.

If there are no other obvious options I will report back and let this forum know if successful with the HK EMI's to start with.

 

[dailyforex]

i am planing to start trading my mam account with other tradrs invetsment,do i need any licence