Best way to bring back offshore bank funds to reinvest in local business?

[redchili]

I hope to use an offshore company & bank to receive payments for monthly software licensing fees to minimize taxes.

What is the best way to bring this money back to my country, Thailand, where it can be reinvested in my physical local software development agency?

 

[Martin Everson]

I don't know how sound or legit your offshore setup will be. However if you plan on using the banking system in Thailand to repatriate offshore earnings then only problems lay ahead for your plans if you try and cheat.

You may want to just have everything setup offshore at arms length and get the income from the royalties as dividends and pay a final tax of 10% and call it a day. I know there are no CFC rules but do some forward thinking 😉.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[avalanche]

redchili said:
I hope to use an offshore company & bank to receive payments for monthly software licensing fees to minimize taxes.

What is the best way to bring this money back to my country, Thailand, where it can be reinvested in my physical local software development agency?
Click to expand...

Im a bit curious, how you are planning to set up offshore software company nowadays? Reliable banks will require your residence permit in the country where bank is located and merchant accounts would be almost impossible to get unless you have 100k monthly turnover.

Thats just my experience so far and Im curious if there is still a sound setup for such purpose.

 

[anotherone]

maybe you have developed a program in your development agency, give the rights to your offshore company and sign a contract between your offshore company and your software development agency for the right to use the said code.

 

[smartcard]

redchili said:
I hope to use an offshore company & bank to receive payments for monthly software licensing fees to minimize taxes.

What is the best way to bring this money back to my country, Thailand, where it can be reinvested in my physical local software development agency?
Click to expand...

I don't know the procedure / tax related in your country.
One option is to show that your local company is funded / invested by your offshore company?