I am a new member on this forum and firstly I’d like to thank you all for sharing so much useful information. However, I would appreciate some clarifications and guidance as to the best structure for my situation.
I am an experienced internet marketer branching into a new online enterprise, which I would like to base offshore. Expected earnings (based on previous experience!) likely to be $60-100k within year one.
My reasons/motivation:
1) I am a UK citizen currently living in another EU country. My future plans are flexible and it’s highly likely I will either stay here, or move to another country. For this reason, I am reluctant to incorporate in the UK or any other specific country. Essentially I want to keep my options open.
2) Privacy. Due to the topics, my new ventures will be produced under a pen-name, therefore I would like the company structure to also protect my own privacy.
3) Tax advantages. I do not want to “cheat” and pay no tax at all. I fully intend on paying a reasonable amount of income tax, but I am keen for the company to accumulate remaining profits in a tax-free environment.
My questions:
1) The accepted consensus seems to be a Seychelles IBC with a Cypriot bank account. Is there any red flag I should be aware of here?
2) In my situation, is it recommended to have a Mauritius Trust owning the Seychelles IBC?
3) Is there a potential problem with my status as an EU citizen and banking in Cyprus, even though the Cypriot account would be in the company name?
4) I wish to show a reasonable income to keep the authorities happy in whichever country I happen to be living, so what is the best way of drawing out money on which to pay personal taxes? Should I a) Invoice the IBC for work done at a rate I deem reasonable, or b) engage a contract of employment with the IBC (not something I think would be a good idea, but I’ve seen it recommended to give a reason to be a signatory on the bank account)
I have an existing personal offshore account in Cyprus, so I am comfortable with opening a business bank account there. I will not require a merchant account. However I would like some assistance incorporating in the Seychelles (if that is indeed best) and would be happy to receive an offer from you Admin
Thanks!
I am an experienced internet marketer branching into a new online enterprise, which I would like to base offshore. Expected earnings (based on previous experience!) likely to be $60-100k within year one.
My reasons/motivation:
1) I am a UK citizen currently living in another EU country. My future plans are flexible and it’s highly likely I will either stay here, or move to another country. For this reason, I am reluctant to incorporate in the UK or any other specific country. Essentially I want to keep my options open.
2) Privacy. Due to the topics, my new ventures will be produced under a pen-name, therefore I would like the company structure to also protect my own privacy.
3) Tax advantages. I do not want to “cheat” and pay no tax at all. I fully intend on paying a reasonable amount of income tax, but I am keen for the company to accumulate remaining profits in a tax-free environment.
My questions:
1) The accepted consensus seems to be a Seychelles IBC with a Cypriot bank account. Is there any red flag I should be aware of here?
2) In my situation, is it recommended to have a Mauritius Trust owning the Seychelles IBC?
3) Is there a potential problem with my status as an EU citizen and banking in Cyprus, even though the Cypriot account would be in the company name?
4) I wish to show a reasonable income to keep the authorities happy in whichever country I happen to be living, so what is the best way of drawing out money on which to pay personal taxes? Should I a) Invoice the IBC for work done at a rate I deem reasonable, or b) engage a contract of employment with the IBC (not something I think would be a good idea, but I’ve seen it recommended to give a reason to be a signatory on the bank account)
I have an existing personal offshore account in Cyprus, so I am comfortable with opening a business bank account there. I will not require a merchant account. However I would like some assistance incorporating in the Seychelles (if that is indeed best) and would be happy to receive an offer from you Admin
Thanks!
