Setting Up an Offshore Company While Being a French Tax Resident

[nobel]

I wouldn't worry too much about the language requirement.

I find it a coercive and nonsensical language that doesn't exist anywhere in the world. I want to do my job and earn money and not sit in school all the time, losing money because I can't work.

 

[JustAnotherNomad]

Indeed, Andorra is also a solution, and even more advantageous in terms of taxation than Malta, as the tax rate is only 2% if I run online stores with revenue mainly from abroad.

Pretty sure you are wrong about this. Do you have a source for this?

 

[ImABotnet]

Je suis presque sûr que vous avez un tort à ce sujet. Avez-vous une source pour cela ?

https://setupandorra.com/en/news/what-are-the-taxation-and-the-corporate-tax-rate-in-andorra/
"International corporation: taxation of 2% maximum;"

 

[ImABotnet]

I find it a coercive and nonsensical language that doesn't exist anywhere in the world. I want to do my job and earn money and not sit in school all the time, losing money because I can't work.

I just checked and nothing is required for the first year. For the renewal, I find it normal it's the minimum when settling in a country that isn't ours to know the basics of the language, especially since I will be spending more than six months per year there. So, it's beneficial for everyone.

 

[JustAnotherNomad]

https://setupandorra.com/en/news/what-are-the-taxation-and-the-corporate-tax-rate-in-andorra/
"International corporation: taxation of 2% maximum;"

That's your source? You read two words on a random website and automatically assumed your business would qualify?

 

[ImABotnet]

That's your source? You read two words on a random website and automatically assumed your business would qualify?

You can imagine that I contacted them by email. Here is what they confirmed to me. They are a legitimate Andorran firm, and they also have a YouTube channel where they post daily videos. In any case, whether it's 2% or 10%, both options work for me, so the outcome will remain the same.

I am copying here what they confirmed to me by email:


"The 2% tax rate for the development of intellectual property and the conduct of international activities without a direct impact on the economy of the state is granted. This scheme is called the International Trade Companies (MAIN) regime.

Conditions:​

The activity must be international: It should be remembered that the client base cannot be Andorran (i.e., your online stores must sell globally).

• No physical activities with clients based in Andorra.
• An additional requirement is to obtain a special authorization from the Andorran government.
• The application must include the presence of offices and a real economic substance in the Andorran state (at least one employee or a physical office).
• To maintain accounting records in conformity with the tax transparency regulations."

 

[Marzio]

The 2% tax rate for the development of intellectual property

An additional requirement is to obtain a special authorization from the Andorran government.

I guess it's a sort of IP Box where you are granted a relief on the statutory CIT rate if you have some kind of R&D expenses to develop your IP.

Be aware that there's no Stripe in Andorra.

Your only option would be to use Braintree (a PayPal company) the fee is 1.9% +0.30€ which isn't bad at all.

 

[drphantom]

Your only option would be to use Braintree (a PayPal company) the fee is 1.9% +0.30€ which isn't bad at all.

Is there as lot troubles with Braintree as with PayPal or is BT better ?

 

[Marzio]

Is there as lot troubles with Braintree as with PayPal or is BT better ?

I honestly never used them so i can't say anything from direct experience.

 

[Sols]

IIRC, Andorran companies are sometimes able to get processing with Spanish processors like https://paynopain.com/en/ or https://monei.com/ or https://redsys.es/en/.

 

[ImABotnet]

Hello everyone,



First of all, I want to sincerely thank you all for your help and for opening my eyes throughout this process. I have now successfully registered my company in Malta, which was finalized today!



I would really appreciate your advice on one final and crucial point: Which bank would you recommend for my business?



I run three e-commerce stores generating around €100K in monthly revenue (total). My business is relatively new, operating since September 2024. My stores are not in a high-risk sector (no gambling, crypto, or finance/ adult).



I’ve heard mixed opinions on fintech solutions—some say they are great, others mention account freezes and compliance issues. Also, I read that opening an account with HSBC Malta is very difficult, and Bank of Valletta (BoV) is even more complicated.



Considering my situation, which banking solution would you recommend ?

 

[JustAnotherNomad]

So you moved to Malta in the end?

 

[ImABotnet]

Yes, of course, I will stay there for at least 183 days in the year.

 

[ImABotnet]

Regarding the opening of a bank account, does anyone have suggestions on who I could choose?

 

[drphantom]

Why not Wise, Revolut or some of many EMI's ?