Recommend a jurisdiction with Good Privacy and OK banking

[nethostler]

I've done enough research to know that the more private a jurisdiction the more banking difficultly increases.

That said, I have a few sites I want to open offshore corps with banking for. It's all legitimate legal stuff so I don't need government level privacy or anything. My #1 goal is keeping my name off of the public record, to pay freelancers from company accounts not my own, minimal to %0 corporate tax rate and minimal to no auditing requirements

Budget is $2,000 - $3000 a year

I'd be willing to travel to open bank accounts although obviously would prefer not.

 

[John Andrews]

- who are your clients? mostly b2c or b2b? will they have issues with your invoices in regards to tax audits?
- do you need PayPal, credit card processing?
- what are the CFC rules in your country?

way more info needed in order to give any sensible advice 🙂

 

[nethostler]

ty mange for the quick response, let me fill in the those gaps.

1. 75:25 b2c:b2b. could be issues with b2c's for a jurisdiction like Nevis for example.

2. Credit card -Yes , PayPal - Yes

3. No CFC Rules

 

[John Andrews]

If most of your clients are outside of the US, I'd go with a Wyoming LLC.

I don't think B2C would be a problem, you can easily sort that out via Stripe (which is why I recommended Wyoming) or 2CheckOut.

If you don't like US for whatever reason, you can go with a Canadian Limited Partnership (LP).

 

[John Andrews]

Btw, for long term privacy New Mexico LLC might be better than Wyoming 😉

 

[nethostler]

Ty, Wyoming had been on my radar but not New Mexico, I'll look into it.

mange38 said:
If most of your clients are outside of the US, I'd go with a Wyoming LLC.
Click to expand...

What are the potential drawbacks of owning a US entity, with US clients??

Other than servers my company would have no US presence whatsoever.

 

[John Andrews]

Wyoming has asset protection, New Mexico has better anonymity. Pick one.

In regards to US presence, not sure if I understood you correctly. First you said you have US clients, then that only your servers will be in the US.

Both are irrelevant. What matters is if there is a link between you and the US. If you are not a US resident or citizen, you'll be just fine 😉

Read this for more info: Non-US Owners of a US LLC: Time to File IRS Form 5472 ”“ US Tax Services

 

[fshore]

PayPal in USA is almost impossible now without a ssn. Same with stripe, and most other cc processors.
Also opening a bank account when your name is not on the article of organisation is not easy, as many banks require that.

 

[nethostler]

mange38 said:
In regards to US presence, not sure if I understood you correctly. First you said you have US clients, then that only your servers will be in the US.
Click to expand...

Correct my clients are largely US based, here I was referring to the fact the my operations are non US based: no US offices, no US dependent agents etc. Which I understand to have US tax implications (liability) even if the entity is foreign owned.

 

[nethostler]

fshore said:
PayPal in USA is almost impossible now without a ssn. Same with stripe, and most other cc processors.
Also opening a bank account when your name is not on the article of organisation is not easy, as many banks require that.
Click to expand...

That's a shame. I'd being willing to have my name on the article of organisation as long it wouldn't be on the public record. But the ssn requirement is a problem.

Are there any legit workarounds?
or
Could you suggest alternative jurisdictions?

 

[neweraoffshore]

You can get around this SSN stuff if you are willing to use a nominee structure and find a provider who opens the merchant accounts for you.
Still the best method to get your name off the records.

 

[fshore]

nethostler said:
That's a shame. I'd being willing to have my name on the article of organisation as long it wouldn't be on the public record. But the ssn requirement is a problem.

Are there any legit workarounds?
or
Could you suggest alternative jurisdictions?
Click to expand...

The articles are public in most states.