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Selling E-books where open a company

#41
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No possibility here for that.
Moreover I would like to add, if you are using freelancers in Europe and if you're company is based in Europe, you will have to pay the vat in your country (vat charge by the beneficiary in accordance with Article 196 of Council Directive 2006/112/Ec) and if you decided to use the possibility of option vat exemption, you will pay your freelancers 20% more.


Since 1st january vat on electronic books sales is cleared by market places (amazon, Google, etc). If you are declaring vat you need to find an accountant aware of all the new decisions taken by Europe for dematerialised goods.


Europe is a wonderful place to make business.


I should move in Seychelles and enjoy the beach.
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Seems to be a good idea with the Seychelles and the beach :) Anyway, it may still be a question of where the company is managed and controlled, actually when I just think out of the box (you will have to check this with a lawyer) it would be possible to form say 2 seychelles corps. the first you are going to use for trading only! You will appoint nominees and don't open an account for this company, then you have a second one that you actually use as financial service company, which only purpose is to invoice customers on behalf of other companies (your first one) for a small comission say 0,5% of the amount.


When a customer buy something from the 1st company they don't have to charge VAT, the customer pay the financial corp. in favor of the first corp. this is a financial transaction where VAT not apply. With some creativity and some documents it should be possible to avoid the VAT... I think I have seen this model be used by a few people around.
 
#42
Hello all,


I am still thinking about the case.


Payoneer accepts to issue a credit card for offshore companies, that's not a problem for them.


I am thinking to keep my regular company and to open aside a seychelles one with shareholder and director nominees, with a turnover around 2-3k/month in order to spend discretly the money during hollydays/restaurants/making a cash reserve and to avoid having a pile of cash abroad un usable.


But is anyone had an experience with nominees accepting to have the payoneer account in their names ? I would like to avoid spraying personal datas as much as possible and to avoid to have the credit card under my name.
 
#43
It depends on what Payoneer is asking for in regards to the personal documents they may request. If the nominees are able to provide it it should well be possible to get around with it.
 
#44
They need id card where the postal adress is marked.


But anyway only one card can be issued for one people, I don't think that it will be easy to find a nominee who would accept.


I liked the payoneer solution because it's cheap, fast and I will not use the credit card for buying things.


What's the risks to have a payoneer card under my name ?
 
#45
Well you will not have any privacy with Payoneer against any authority if it's what you are looking for. Generally speaking credit cards and banking ther days are over where you can hide your name behind some banking setup. Today it requires a company setup and nominees and even then you can't be 100% sure that your name not will appear somewhere.


For instant, you can setp a Seychelles company with Cyprus banking this will protect your privacy towards creditors, lenders and most other instances but if it comes to your tax office they will with a lot of troubles get access to your account data if they know about it.
 
#46
Talyn said:
Hello,


I started a small activity of sellings books (that i didn't write, I hired freelancers) on kindle when i was in france and I did not opened a company there, because it was not really succesfull.


Since a few months I moved in czech republic.


Now I sold 5k in june, 7.5k in july, 4.5k in august.


I need to open a company but in czech they charge a lot for taxes...


What is the best location to open a company to manage this sales and to pay taxes as low as possible ?


Thanks in advance
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If it's only an e-book, I would suggest you use Amazon and Ebay and you don't need to open a company
 
#47
Talyn said:
They need id card where the postal adress is marked.


But anyway only one card can be issued for one people, I don't think that it will be easy to find a nominee who would accept.


I liked the payoneer solution because it's cheap, fast and I will not use the credit card for buying things.


What's the risks to have a payoneer card under my name ?
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I'll recommend payoneer. It's easy to get and important thing is 1they will provide you with a US bank account, so you'll get auto privacy.
 
#54
Just like some people here just said Europe is good, I think its the best in terms of selling E-book materials. Since a lot of western people loves to read books, they spend a lot of money buying books and might even consider buying yours. So the chances of selling an e-book will be increased.
 
#55
Jack Dui said:
I'll recommend payoneer. It's easy to get and important thing is 1they will provide you with a US bank account, so you'll get auto privacy.
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I don't think so, you have to provide an ID card to payoneer, a simple request by any tax offices to payoneer and you'll be busted and... I let you imagine what could happen.

Deadpool and SasxInc > You can remove "hardly" and "quite", it's completely impossible to be anonymous with them. They collect ID card, tax numbers, etc. And absolutely no Private nominee director would give all of this info and take endorse the responsibility for the company.

Anton > the US market is much more profitable than the European one.

Sales are still going well, I am paying full wheelbarrows of taxes, but that's not so bad, it's better that than to be in jail because of tax evasion...
 
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#58
The only good option for doing this would be Cyprus or Ireland right?
I don't get why so manyhas been recommending Seychelles etc, it shouldn't work for this business as Amazon will pay him in Royalties, and seychelles don't got a tax treaty with the US, therefor there will be 30% wittholding tax?

I'm asking because I'm in the same boat and I'm looking at Cyprus. 12.5% tax and has a 0% tax treaty with US regarding royalties.
 
#59
I say in your case and if you are doing business with and around Amazon a Cyprus company is the only valid option because of the reasons you already mentioned. It could be of tax benefit to have a Seychelles holding company owning the shares of the Cyprus company to minimize the tax to be paid in Cyprus!
 
#60
auric said:
I say in your case and if you are doing business with and around Amazon a Cyprus company is the only valid option because of the reasons you already mentioned. It could be of tax benefit to have a Seychelles holding company owning the shares of the Cyprus company to minimize the tax to be paid in Cyprus!
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I'm just curious, how does a holding company reduce your taxes for your trading company?
 
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