Offshore + EEA company

[Kronox]

Good day,

We have a Dubai and Hong Kong Company. To get better payment processing we are thinking to open also one in the EEA.

Which Setup is the best for this? I read about agency EU formations with 5% tax for example in UK.

Also for this setup I guess we need a tax advisor who do this stuff.

Any suggestions?

 

[Fred]

What we do regular is forming a UK LLP using the Dubai Company as Partner as well as yourself. It's a zero tax setup when the individual partner of the company like for example you have a 0% tax residence as well. You just have to fill an empty form and in case you want it double checked let an account do it for you and pay few 100£ for it.

PayPal and Stripe in combination with Payoneer is working like charm with this setup even for 7 figures no issues when the money is coming from merchants.

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[lory]

Fred said:
PayPal and Stripe in combination with Payoneer is working like charm with this setup even for 7 figures no issues when the money is coming from merchants.
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won't you need to know what business he is into? I mean, PayPal, Stripe and Payoneer may work together but you can't sell a package if you don't know the clients businessange¤%&

 

[Fred]

lory said:
won't you need to know what business he is into? I mean, PayPal, Stripe and Payoneer may work together but you can't sell a package if you don't know the clients businessange¤%&
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What package do I sell him?

As his post indicates he already have a Dubai Company - that's the only service we focus on so "sadly" we only can provide free suggestions we already realized in the practice for other clients.

The above mentioned is for E-Commerce in case he is in a other market that's fine so we gave him a bench mark what satisfy the most mainstream merchants that are picky.

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[Jea]

Fred said:
What we do regular is forming a UK LLP using the Dubai Company as Partner as well as yourself. It's a zero tax setup when the individual partner of the company like for example you have a 0% tax residence as well. You just have to fill an empty form and in case you want it double checked let an account do it for you and pay few 100£ for it.
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Would the Dubai company and the partner name be visible in UK corporate registry?

 

[Fred]

Jea said:
Would the Dubai company and the partner name be visible in UK corporate registry?
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Yes of course.

To avoid this you have to go the route with a US LLC. But the process with EIN takes much longer about 2-3 months currently and you are limited to Mercury and TransferWise.

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[Kronox]

Thanks for answers.

Yes owner has also a 0% tax residence.

Stripe and paypal don't work they didn't accepted us.

We are an MLM company with education services.

About 300k monthly.

How this UK LLP setup works with 0% tax?

 

[Fred]

Kronox said:
Thanks for answers.

Yes owner has also a 0% tax residence.

Stripe and paypal don't work they didn't accepted us.

We are an MLM company with education services.

About 300k monthly.

How this UK LLP setup works with 0% tax?
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In that case you have to look into high risk merchant providers anyway.

The UK LLP setup works like mentioned above and should work in your case very well as the most high risk merchant account povider has the requirement to incorporate in the EU.

Did you already tried Interkassa from Russia for your Dubai or Hong Kong company? I know that they accept MLM.

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[Kronox]

Fred said:
In that case you have to look into high risk merchant providers anyway.

The UK LLP setup works like mentioned above and should work in your case very well as the most high risk merchant account povider has the requirement to incorporate in the EU.

Did you already tried Interkassa from Russia for your Dubai or Hong Kong company? I know that they accept MLM.
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You do such setups?

Not tried Interkassa. We have a few but I want better rates.

 

[Fred]

Kronox said:
You do such setups?

Not tried Interkassa. We have a few but I want better rates.
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We provide Dubai Company Formation and in case a client has setup a Dubai Company with us we do the UK LLP as well for them.

Take a look at Interkasse. They provide merchant processing for Visa and MasterCard.

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[Kronox]

Fred said:
We provide Dubai Company Formation and in case a client has setup a Dubai Company with us we do the UK LLP as well for them.

Take a look at Interkasse. They provide merchant processing for Visa and MasterCard.
Click to expand...

Can you PM me?

 

[Fred]

LoveMyLife said:
Having US LLC as a UK LLP Member will make this LLP unacceptable for any financial institution in a western world. Having a US LLC as a partner creates a US tie and FATCA regulations dissaster. This is not a good idea.
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Read carefully.

I mentioned to replace the UK LLP with a US LLC not US LLC being a partner of the UK LLP incorporation.

Beside of that yes the US LLC option is limited in "banking" to few options like Mercury, TransferWise and Payoneer.

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[lory]

LoveMyLife said:
In this scenario, Stripe will not sork. Stripe is closing accounts of UK LLPs where partners having at least 25 % are not resident of supported countries only. UAE is not supported country..
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not what I asking, to post whore requires to read before write.

 

[Fred]

LoveMyLife said:
Having US LLC as a payment agent is absolutely not possible. This kind of activities requires a financial license in the USA. No US bank will open a US bank account for a payment agent which does not have a real US presence.
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Why should the company be the payment agent? It can be simply a complete own entity that conduct the business. As the managing director already received the 0% tax residence visa trough the Dubai company. The US LLC conduct all the active business but is limited to low key banking like above mentioned so the profits can be transfered to the personal bank account in the UAE of the shareholder as a normal salary. He then can use the Dubai Company as an investment vehicle or simply just use it to get the 0% tax residence visa.

Don't keep it too much in theory and look how it's working in practice.

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