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Offshore company that will do business with US

Petr B

Petr B

New member
Jun 4, 2017
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#1
Hi guys,
I am new in this community.

My business is fairly simple, I am from Europe, providing IT services to 2 enterprise clients in US. I want to move to offshore mainly to save money on taxes and to make accounting easier.

I've contacted few companies who can spin up offshore company for me but almost all of them pushed me to create company in Dubai, Free Trade Zone because of some US policy that will cause my offshore bank to block my bank account or something. Is it true? Dubai is the most expensive so maybe they did it for profit.

Where would you advise to create offshore in this case and why? Should I get paid by wire transfer or using some internet payment provider - what is the best practice?

I have a good leverage in those US companies, so I can push whatever I will decide to do.

Thank you for any help guys.
 
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#2
Petr B said:
Hi guys,
I am new in this community.

My business is fairly simple, I am from Europe, providing IT services to 2 enterprise clients in US. I want to move to offshore mainly to save money on taxes and to make accounting easier.

I've contacted few companies who can spin up offshore company for me but almost all of them pushed me to create company in Dubai, Free Trade Zone because of some US policy that will cause my offshore bank to block my bank account or something. Is it true? Dubai is the most expensive so maybe they did it for profit.

Where would you advise to create offshore in this case and why? Should I get paid by wire transfer or using some internet payment provider - what is the best practice?

I have a good leverage in those US companies, so I can push whatever I will decide to do.

Thank you for any help guys.
Click to expand...
The important thing to analyze is the expected turnover, before I can suggest the best jurisdiction for your business.

UAE are a good choice, but can be expensive (FreeZone) with a little project.
 
#3
Petr B said:
Hi guys,
I am new in this community.

My business is fairly simple, I am from Europe, providing IT services to 2 enterprise clients in US. I want to move to offshore mainly to save money on taxes and to make accounting easier.

I've contacted few companies who can spin up offshore company for me but almost all of them pushed me to create company in Dubai, Free Trade Zone because of some US policy that will cause my offshore bank to block my bank account or something. Is it true? Dubai is the most expensive so maybe they did it for profit.

Where would you advise to create offshore in this case and why? Should I get paid by wire transfer or using some internet payment provider - what is the best practice?

I have a good leverage in those US companies, so I can push whatever I will decide to do.

Thank you for any help guys.
Click to expand...
Dear Petr, I have a business company in Seychelles. Personaly, I recommend you this juridiction because you have you will keep anonymous for every single tax agency in the world.
 
#4
As already mentioned here, Seychelles is the perfect match. If you want something cheap and easy to handle, go with this this jurisdiction. Some service provider tend to sell something much more expensive than needed. Some also fool you into your business with cheap fees and strike the hammer once you are in.
 
#6
things are changing. seychelles will be starting to adopt public registers of directors and public register of people in charge... Also it will start to exchange for FATCA, and annual returns required.

Seychelles without nominees is not that good anymore.
Look elsewhere if you want close to 100% privacy and cheaper.

Or you need to have it fully managed. And that means MONEY.

EDIT: also AEOI.
 
#7
You risk the blocking of funds anyway as soon as we setup a Offshore Company that pay money to a corporation in the USA! your alternative would be a Cyprus (EU) Company with Cyprus banking, however, no one will know if the banks in the US will respond the same way as if it is a Seychelles corp. ! Otherwise incorporate a company in the USA and pay the tax applicable.
 
#9
Okay, so it's either UAE, Belize or Cyprus.

If US company will pay for my services to offshore company in Belize/Cyprus I am afraid that my offshore bank account will be blocked and I wouldn't be able to touch the money. Is is a real scenario?

If I go with UAE, can I expect any problems or since it's in Free Trade Zone everything should be fine?

I don't really care about the cost of offshore company as long as I can rely on it. But to my understanding, payments from US are causing some problems in offshore banks.
 
#10
Petr B said:
Okay, so it's either UAE, Belize or Cyprus.

If US company will pay for my services to offshore company in Belize/Cyprus I am afraid that my offshore bank account will be blocked and I wouldn't be able to touch the money. Is is a real scenario?

If I go with UAE, can I expect any problems or since it's in Free Trade Zone everything should be fine?

I don't really care about the cost of offshore company as long as I can rely on it. But to my understanding, payments from US are causing some problems in offshore banks.
Click to expand...

I have Companies in UAE, HK and St. Kitts and Nevis without any problems with US customers.
 
#11
Petr B said:
Okay, so it's either UAE, Belize or Cyprus.

If US company will pay for my services to offshore company in Belize/Cyprus I am afraid that my offshore bank account will be blocked and I wouldn't be able to touch the money. Is is a real scenario?

If I go with UAE, can I expect any problems or since it's in Free Trade Zone everything should be fine?

I don't really care about the cost of offshore company as long as I can rely on it. But to my understanding, payments from US are causing some problems in offshore banks.
Click to expand...
You will have to deal with FATCA in certain cases other then that I doub't there will be any problems if you stikc with one of the mentioned jurisdictions!
 
#16
auric said:
You will have to deal with FATCA in certain cases other then that I doub't there will be any problems if you stikc with one of the mentioned jurisdictions!
Click to expand...

I am from Europe, therefore I don't need to deal with FACTA, right? From my understanding, it's only related to US citizens and companies.
 
#20
Petr B said:
I am from Europe, therefore I don't need to deal with FACTA, right? From my understanding, it's only related to US citizens and companies.
Click to expand...
true only US citizens need to comply to FATCA! if St.Kitts and Nevis has no problems in the US then I would say you don't face the troubles you are afraid of with any offshore corp. St. Kitts is as much a tax heaven as Seychelles, Belize, Cyprus, UAE etc. there is nothing different here.
 
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