No, he has $100 to $200 for reneval at the government and then he is paying $80 for the audit now. Satoshit, have you read the whole conversation I had with his honourable gentlemen?
Estonia taxing undistributed profits in 2026 where people will go to now?
- Thread starter Nw1
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@ Satoshit, you cannot dislike my posts here. I am trying to help a guy from Arebasentalia on a tight budget for free.
I have heard Belize and St kits getting online bank account for company opened is very difficult?
Do those two options meet following criteria?
requirements to be met;
Do those two options meet following criteria?
requirements to be met;
| Access to Local Card Processors with Pay-As-You-Go Per Sale Commission Basis |
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| PayPal Receiving Capability if have a plus |
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| Stripe Availability if have a plus |
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| Wise Business Availability if have a plus |
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| No WHT on Undistributed Profits/Retained Earnings |
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| 1 Director, 1 Shareholder (100% Foreign-Owned) |
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| No Quarterly Documents Submissions or Advance Tax Payments |
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| Year-End Submissions Only |
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| No Resident Local Agent Requirement (Might be flexible if cheap and︀ matches nearly all other requirements) |
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| Tax-Free US Client Payments via Foreign Income Waiver |
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| Low Penalties︁ for Document Submission Delays |
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| Low Incorporation and Annual Renewal Costs (<= $100-200) |
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| No Taxes on︂ Undistributed Profits |
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| Can open bank accounts for company completely online |
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You are welcome.
My problem here is that it will be difficult to pull it off for just one company. Do you only need one company, or will there eventually be more than one? What is the total number we are looking at. There will be different options, depending on the total yearly amount.
My problem here is that it will be difficult to pull it off for just one company. Do you only need one company, or will there eventually be more than one? What is the total number we are looking at. There will be different options, depending on the total yearly amount.
So far just for one since it is an experiment to see if everything works and if it does then can simply use that same one or make new ones for the new revenue collection and parking and let old one's exist as it is
Current options seem to be Georgia, Latvia, Belize, St Kit, and admin of this forum I remember told me about Gibraltar and Ireland too but Ireland foreign income waiver was not︀ too certain but Gibraltar will it meet the requirements I have put in the boxes︁ above?
Current options seem to be Georgia, Latvia, Belize, St Kit, and admin of this forum I remember told me about Gibraltar and Ireland too but Ireland foreign income waiver was not︀ too certain but Gibraltar will it meet the requirements I have put in the boxes︁ above?
You can try those:
- Marshall Islands
- Belize
- Anguilla
- Bahamas
- Bahrain
- Bermuda
- Cayman Islands
- Guernsey
- Isle of Man
- Jersey
- Niue
- Norfolk Island
- Palau
- Pitcairn Islands
- Saint Barthélemy
- Tokelau
- Turks and Caicos Islands
- Vanuatu
- British Virgin Islands
- Wallis and Futuna
- Georgia
- Latvia
The phrase "Georgia does not tax foreign-sourced income if it︀ is not remitted locally" means that income earned by a Georgian company from sources outside︁ Georgia is not subject to Georgian taxation unless it is brought into the Georgian economy︂ (i.e., deposited into a Georgian bank account or otherwise transferred into Georgia). Ireland also had︃ this same issue when looked at it earlier. So what other country banks will allow︄ an offshore Georgian company to open an account with them online directly without an EMI?︅
Example Scenario
- Company Structure:
You set up a Georgian LLC, which earns revenue from︆ US clients via online services.
- Income Flow:
- Payments from US clients are received into a︇ foreign bank account (e.g., Wise, PayPal, or a bank account in another jurisdiction outside Georgia).︈
- The income remains in this foreign bank account and is not transferred to a bank︉ account in Georgia.
- Payments from US clients are received into a︇ foreign bank account (e.g., Wise, PayPal, or a bank account in another jurisdiction outside Georgia).︈
- Tax Implications in Georgia:
- Since the income is not "remitted" or brought︊ into Georgia, no Georgian taxes are levied on this foreign-sourced income.
- This allows you︋ to operate the company with little to no tax liability in Georgia for income earned︌ outside the country.
- Since the income is not "remitted" or brought︊ into Georgia, no Georgian taxes are levied on this foreign-sourced income.
- Contrast - Income Remitted Locally:
- If you transfer part of this income︍ from the foreign bank account to a Georgian bank account, that portion of the︎ income may become subject to Georgian taxation.
- If you transfer part of this income︍ from the foreign bank account to a Georgian bank account, that portion of the︎ income may become subject to Georgian taxation.
I am going through the list. For the relevant activities
The following countries have economic substance rules
- banking
- insurance
- fund management
- financing and leasing
- headquartering
- shipping
- distribution and service centre
The following countries have economic substance rules
- Anguilla
- Bahamas
- Belize
- Bermuda
- British Virgin Islands
- Cayman Islands
- Guernsey
- Isle of Man
- Jersey
- Marshall Islands
- Bahrain
- Georgia
- Latvia
- Niue
- Norfolk Island
- Palau
- Pitcairn Islands
- Saint Barthélemy
- Tokelau
- Turks and Caicos Islands
- Vanuatu
- Wallis and Futuna
Foreign-sources income exepmtions typically only apply to passive income. Hence, you cannot do active business.︀ And then next problem is, that this is only for personal income, not for corporate︁ income. We often discussed the lady with substantial US royalties that used to live in︂ Georgia. She was able to benefit from this. But a company would not be able︃ to do so.
You still have the advantage of 0% tax on undistributed dividends if︄ you are able to pull this one off. (You need to be really sure that︅ your loans and other vehicles are not reclassified as distributions. I would consider it a︆ bit risky.)
You still have the advantage of 0% tax on undistributed dividends if︄ you are able to pull this one off. (You need to be really sure that︅ your loans and other vehicles are not reclassified as distributions. I would consider it a︆ bit risky.)
Ah then Georgia also gets struck off since it is not a true terrotorial tax exempt system unless someone knows a creative cheap way to make foreign bank accounts directly without EMI to park money safely
That leaves the rest of options, for these options need to have registered agent or office in country?
That leaves the rest of options, for these options need to have registered agent or office in country?
- Niue
- Norfolk Island
- Palau
- Pitcairn Islands
- Saint Barthélemy
- Tokelau
- Vanuatu
- Wallis and Futuna
I think with those, it will be very difficult to get any banking. Maybe St. Barths but I think this has other issues with the 5 year rule. Would have to check.
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