Best company + bank setup

[porshagate]

Hi! I want some suggestions on best setup as I want to move my company out of current EU country due too strict tax inspectors.

Company rev is 2mil so don't want go offshore, want corp tax under 20% and a good bank that receives/sends wire in US/CA/UK fast.

Most important is that jurestiction is not known for heavy check/tax inspections on company expenses/invoices. Our main issue is that tax inspector wanted all the advertising history/what was paid/which campaign was run for us (over 1000 papers) for each advertising invoice that we received from UK or CA company, I want so that the invoice we receive for advertising cost is enough to count as company expense without extra work to elabore exactly what that company done for us.

A friend of mine recommended me Liechtenstein, with one AG Holding me as owner, and this holding owner of Ltd where operations are made, cost is quite high 60k+, inspections are a lot less i heard, is that a good option or better/cheaper alternative?

 

[Spinat]

porshagate said:
A friend of mine recommended me Liechtenstein, with one AG Holding me as owner, and this holding owner of Ltd where operations are made
Click to expand...

I would agree on that or you look into countries like Swiss and even Cyprus Ltd , the latter is much cheaper and with such revenue you want to travel to Cyprus find the right agent and ask him to help you with the company AND bank account setup. You may get it all set for less than 10K with real office.

Toggle signature
Specialized in advisory service for tailor made Offshore setups with banking and payment processing. Privacy and Anonymity is my priority.
Contact

 

[porshagate]

blueweb said:
I would agree on that or you look into countries like Swiss and even Cyprus Ltd , the latter is much cheaper and with such revenue you want to travel to Cyprus find the right agent and ask him to help you with the company AND bank account setup. You may get it all set for less than 10K with real office.
Click to expand...

Would I need to setup the same structure in Cyprus, owning a holding and holding the owner of Ltd to stay announymous to my EU country?
What about US LLC like Wyoming, if I don't wire directly to my EU country, could they know about my LLC?

 

[offcorp]

Wyoming gives you privacy on the company level, but you still have to disclose yourself(ubo) when opening a bank account for that company. Also there's a new requirement by IRS for foreign controlled companies to report all foreign transactions. I forgot which number that form is but you can Google it

 

[offcorp]

Form 5472, Information Return of a 25% Foreign-Owned U.S. Corporation or a Foreign Corporation Engaged in a U.S. Trade or Business

 

[Adrian BOB]

I thinks you can use Singapore with reputation of local company. If you will open bank account outside Singapore - no need pay local tax even. Annual Corporate Tax reports not so detailed and just invoices can be used. We do it.

 

[neweraoffshore]

Remember that 5AMLD will come and therefore the UBO register. This may lead to a big problem for EU companies. Because for example you do your main business in Germany and have an IP Box in Malta which sells for example marketing algorithm licenses to your German company for 0-10% tax then in 2020/21 the German tax authority will know that you are the UBO of this Malta company and therefore will sue you for "misuse of structural alternatives" and you have to pay back taxes. Even if you have a nice setup with office and substance your local tax authority will audit the hell out of you and rip out every suspicios dinner bill, gas bill or whatever. You won't have a nice life then, haha.
So after 5AMLD I guess you really have to think about the real offshore way 🙁
The US is a nice place for setting up an offshore structure. With the right agent you won't even have to disclose UBO to bank or IRS. There are some loopholes which prevent this and still the US doesn't have an UBO register. Last attempt to build such with Senate Bill 1717 was vetoed and declined end of 2018. So there won't even be a new try within the next few years I guess.