Where to Incorporate Parent Company Cyprus/Estonia/Hungary/Hong Kong/US?

[nomadcap]

Hi all,

I've been in business in the marketing and consulting space for about 5 years.
Turning over around 500k +/-
Currently, I'm set up in Australia because that's where I lived and was stuck there until end of 2022 and previously where most of my work and clients are.
A portion of my income is passive through affiliate marketing efforts, and the other portion is more active.

I'm hoping for some advice on where to incorporate a parent company to reduce taxes and to better serve an international group of clients on the more active side
Would ideally like to have access to a brick/mortar bank account rather than rely on EMIs like Wise/Worldfirst/Payoneer.

I'm currently spending about 6 - 7 months a year in Europe/Portugal as I'm working on getting the residency there, I'm approved for NHR.
The other half of the year I'm mostly based in Malaysia, also in the process of setting up an entity there to do business in Malaysia / South East Asia but wasn't sure if this is the right move to setup the parent company there for all the profits to flow to for best tax effectiveness.
I know Malaysians who have companies set up and they're looking for solutions offshore as they pay have to pay a withholding tax for expenses paid to foreign entities among other challenges.

I heard US is a good option for non US citizens, would it be possible for me to access bank accounts/company credit cards in US or am i restricted to EMIs like Mercury/Relay/Wise?

Thanks in advance

 

[CyprusLaw]

Hi all,

I've been in business in the marketing and consulting space for about 5 years.
Turning over around 500k +/-
Currently, I'm set up in Australia because that's where I lived and was stuck there until end of 2022 and previously where most of my work and clients are.
A portion of my income is passive through affiliate marketing efforts, and the other portion is more active.

I'm hoping for some advice on where to incorporate a parent company to reduce taxes and to better serve an international group of clients on the more active side
Would ideally like to have access to a brick/mortar bank account rather than rely on EMIs like Wise/Worldfirst/Payoneer.

I'm currently spending about 6 - 7 months a year in Europe/Portugal as I'm working on getting the residency there, I'm approved for NHR.
The other half of the year I'm mostly based in Malaysia, also in the process of setting up an entity there to do business in Malaysia / South East Asia but wasn't sure if this is the right move to setup the parent company there for all the profits to flow to for best tax effectiveness.
I know Malaysians who have companies set up and they're looking for solutions offshore as they pay have to pay a withholding tax for expenses paid to foreign entities among other challenges.

I heard US is a good option for non US citizens, would it be possible for me to access bank accounts/company credit cards in US or am i restricted to EMIs like Mercury/Relay/Wise?

Thanks in advance

Hello, Cyprus is a very good option for you, with a lot of people in similar industries and background relocating and/or setting up their business in Cyprus.

Especially if you are approved for NHR the Cyprus company would be a perfect fit, you would be paying 12.5% corporate tax at the company level and then essentially 0 for dividends.

 

[nomadcap]

Hello, Cyprus is a very good option for you, with a lot of people in similar industries and background relocating and/or setting up their business in Cyprus.

Especially if you are approved for NHR the Cyprus company would be a perfect fit, you would be paying 12.5% corporate tax at the company level and then essentially 0 for dividends.

Thank you, based on your username you help people set up in Cyprus?

 

[CyprusLaw]

Thank you, based on your username you help people set up in Cyprus?

Yes I have PMd you

 

[Shories]

Hmm, I believe the initial idea of setting up a company in the US is not bad at all.

US LLC + Portuguese NHR = tax rate potentially less than 15%.

It's much easier to do banking than in Cyprus and also cheaper.

The US LLC can be the parent company and you can use the Malaysian company as a subsidiary.

 

[Houdini]

What banking would you suggest for such a setup for a US LLC ? as I read all over the forum it is impossible to get proper banking for a company in the USA without substance!

 

[Shories]

What banking would you suggest for such a setup for a US LLC ? as I read all over the forum it is impossible to get proper banking for a company in the USA without substance!

Mercury Bank is actively accepting foreign-owned LLCs. You only need to have clean LLC documentation, an EIN, a passport, and a US address (the virtual office works).

For the address, try https://starthubcenters.com/, https://ipostal1.com/ or https://physicaladdress.com/.

 

[drysponge]

I'm hoping for some advice on where to incorporate a parent company to reduce taxes

a parent of the Australian company? is the plan here to heavily expense the subsidiary for deductions?

US LLC + Portuguese NHR = tax rate potentially less than 15%.

hows that work? NHR self employment rate is 20% corporate is 21% you would be charged one of those no?

Ireland / Cyprus (12.5%) or Hungary (9%) make the most sense to me with the thought being (assuming theres substance) you are exempt from cfc rules and your personal income would be foreign, i think thats the case in europe and wouldnt be if incorporated in US or SAE

 

[kokunut]

Hi all,

I've been in business in the marketing and consulting space for about 5 years.
Turning over around 500k +/-
Currently, I'm set up in Australia because that's where I lived and was stuck there until end of 2022 and previously where most of my work and clients are.
A portion of my income is passive through affiliate marketing efforts, and the other portion is more active.

I'm hoping for some advice on where to incorporate a parent company to reduce taxes and to better serve an international group of clients on the more active side
Would ideally like to have access to a brick/mortar bank account rather than rely on EMIs like Wise/Worldfirst/Payoneer.

I'm currently spending about 6 - 7 months a year in Europe/Portugal as I'm working on getting the residency there, I'm approved for NHR.
The other half of the year I'm mostly based in Malaysia, also in the process of setting up an entity there to do business in Malaysia / South East Asia but wasn't sure if this is the right move to setup the parent company there for all the profits to flow to for best tax effectiveness.
I know Malaysians who have companies set up and they're looking for solutions offshore as they pay have to pay a withholding tax for expenses paid to foreign entities among other challenges.

I heard US is a good option for non US citizens, would it be possible for me to access bank accounts/company credit cards in US or am i restricted to EMIs like Mercury/Relay/Wise?

Thanks in advance

Hi friend, can you please tell me what you did, can I DM you ?

 

[EliasIT]

To me a Cyprus company in your situation may be a good choice, ask some of the experts here from OCT to help you with the setup.