Generally speaking with the new corp tax there is much less sense to open Freezone Corps in Dubai, so opening a mainland LLC is an easy was to get a company with 5% VAT, 9% corporate tax, some generous exemption for smaller businesses and a very lax approach to allowable expenses. Also opening a bank account for a mainland company is not a problem unless you are blessed with some cheeky citizenship.
Best offshore jurisdiction for 2024 and 4 years ahead?
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Hi. I live in UAE since 2 years now , usually the bank ask for physical office to open bank accounts here. Also you can only register one company for one office. Since we run multiple companies , it’s very hard to get︀ bank accounts with virtual office / flexi desk. For sure there are some ways ,︁ but banks would take 2 months with due diligence and KYCs. Overall it has become︂ difficult and time consuming to maneuver and change companies in UAE.
WIO opens accounts very fast for mainland companies with solo founder/director. So you can start operating with them and keep pushing other banks. UAE is not unique - last time we︀ opened a UK LLC it took us few months to get accepted by any main︁ street bank while Revolut and Starling opened accounts in minutes.
Revolut easily opened an account for your UK LLC? Were any of the directors residents of the UK?
Yes, the only director was the UK resident.
I'm comparing apples with apples - opening a business bank account for a simple structured LLC (one shareholder = one director, resident, no problematic citizenship) both in UK and UAE - in both countries it was easy to get accounts with EMI and took a while to get approved by conventional banks.
I'm comparing apples with apples - opening a business bank account for a simple structured LLC (one shareholder = one director, resident, no problematic citizenship) both in UK and UAE - in both countries it was easy to get accounts with EMI and took a while to get approved by conventional banks.
Can you please explain how is that off topic? How can we discuss offshore jurisdictions without discussing banking?
You suggested a New Mexico LLC, and someone else suggested a UK LLC. I asked about banking for a UK LLC since in my experience it's not easy to open a bank account for them without a resident director.
Seems perfectly on topic to me, or have I not had enough coffee?
You suggested a New Mexico LLC, and someone else suggested a UK LLC. I asked about banking for a UK LLC since in my experience it's not easy to open a bank account for them without a resident director.
Seems perfectly on topic to me, or have I not had enough coffee?
I believe in the stats, Dubai and New Mexico may work also the next 5 - 10 years I don't know if 20 years can be predicted!
You can work with 9% and get it reduced to almost nothing.
You can work with 9% and get it reduced to almost nothing.
That's interesting,
can you explain in︁ more detail how you stay under 10%. I know that Schwyz charges around 3-4% tax︂ on 100-150k at the cantonal level, plus the federal tax and the AHK 10%, right?︃
All in all, you end up with about 20% (inkl ahk and company costs) effective︄ costs based on your 10k salary, right?
How high are the monthly company costs, i.e.︅ for accounting and annual financial statements?
I'm looking for a good tax advisor in Schwyz,︆ can you recommend one?
I want to find out whether you can simply move to︇ Switzerland and receive dividends through a foreign company, where you hold shares, and not involved︈ in the daily business. switzerland has no cfc rules, so that should be a good︉ option too. Perhaps you have experience with this?
But having an own company in schwyz︊ is a good choice i think, in 40 minutes you can reach zurich by train︋ or car and beautiful landscape. IMO a realy good choice for a business and living︌ location.
can you explain in︁ more detail how you stay under 10%. I know that Schwyz charges around 3-4% tax︂ on 100-150k at the cantonal level, plus the federal tax and the AHK 10%, right?︃
All in all, you end up with about 20% (inkl ahk and company costs) effective︄ costs based on your 10k salary, right?
How high are the monthly company costs, i.e.︅ for accounting and annual financial statements?
I'm looking for a good tax advisor in Schwyz,︆ can you recommend one?
I want to find out whether you can simply move to︇ Switzerland and receive dividends through a foreign company, where you hold shares, and not involved︈ in the daily business. switzerland has no cfc rules, so that should be a good︉ option too. Perhaps you have experience with this?
But having an own company in schwyz︊ is a good choice i think, in 40 minutes you can reach zurich by train︋ or car and beautiful landscape. IMO a realy good choice for a business and living︌ location.
You must be more than naive to think I would post all that information on a public forum - haha! - And no, I’m not going to DM you the details either. You sound more like a journalist or something with those questions than anything else.
OK, then not. I would have been really interested because I am also thinking about moving to Schwyz. 10% sounds not really realistic for me, because of ahk is alone 10% and at least 10% for taxes, maybe with kids less.
And you can find most of information on youtube in cases of taxes, but never heard that 10% is reachable, so this was the reason to get information about it, but keep them if you dont want to share it. i can understand it and a good tax advisor can help me with more details.
And you can find most of information on youtube in cases of taxes, but never heard that 10% is reachable, so this was the reason to get information about it, but keep them if you dont want to share it. i can understand it and a good tax advisor can help me with more details.
He is only taking out 10k per month. That's like nothing. If he is self-employed and puts his whole life into business expenses, it goes down to like 40k per year and then he can deduct Pillar 2 & 3. AHV gets cheaper in this case and goes below 10%. With little taxes as︀ well, he will pay close to nothing. For now. Once he takes out his millions︁ out of his company, he will pay tax on them as well.
Yes, you want to do consult a good tax advisor in Schwyz, Zug or wherever you want to move to. That's the best you can do. In the meantime watch some Youtube videos.
Something like this @daniels27 thu&¤#
Something like this @daniels27 thu&¤#
You can then also hire your bother at 25k per month, fire him after 2 weeks in the ground of being too woke. If he then asks for compensation or sue you, you pay him a Genugtuung of up to 6 months salary, which is entirely tax-free on his part. If he lives in Schwyz or Obwalden, he can gift it back to you tax-free.
A few years back, it was common to have 5 companies and do nothing else than cleaning as janitor, benefiting from lower taxes on small income.
https://www.maehrtreuhand.ch/wichtige-informationen2/putzfrauensteuer/
The list goes on and on. Switzerland︀ was second to only US when it came to discrepancies between headline tax rates and︁ paid tax. It is relatively easy to pay affordable tax rates on incomes up to︂ 200k.
But in the end you end up paying the 15% tax on company profits︃ with not too much leverage if you have over 1m in profits.
A few years back, it was common to have 5 companies and do nothing else than cleaning as janitor, benefiting from lower taxes on small income.
https://www.maehrtreuhand.ch/wichtige-informationen2/putzfrauensteuer/
The list goes on and on. Switzerland︀ was second to only US when it came to discrepancies between headline tax rates and︁ paid tax. It is relatively easy to pay affordable tax rates on incomes up to︂ 200k.
But in the end you end up paying the 15% tax on company profits︃ with not too much leverage if you have over 1m in profits.
Yes, you can read it here:
https://www.bger.ch/ext/eurospider/...-2C_546-2021&lang=de&zoom=&type=show_documenta German summary is here:
https://www.bger.ch/files/live/sites/bger/files/pdf/de/2c_0546_2021_2022_11_29_T_d_14_34_09.pdf
https://www.bger.ch/ext/eurospider/...-2C_546-2021&lang=de&zoom=&type=show_documenta German summary is here:
https://www.bger.ch/files/live/sites/bger/files/pdf/de/2c_0546_2021_2022_11_29_T_d_14_34_09.pdf
Just out of curiousity, why would New Mexico better than Wyoming? Don't they have some kind of tax and no asset protection?
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