Due to geopolitics I'd go for Hong Kong as they will (and cannot due to China) not fall to the western sanctions (and it was a good very place before covid and also tax efficient).
UAE might also be an option as well.
Safest and best tax jurisdiction for Russian IT company?
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UAE might also be an option as well.
UAE and Hong Kong are some of the places I would count on at the moment, not sure how it will look long term i.e. 3 -5 years ahead.
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Hello Jack,
Cyprus may be very interesting to attract EU clients and minimise tax.
The setup may resemble the following:
To minimise risks with the nominee, you can agree for a monthly (or even weekly payment); that depends on your business model
Cyprus may be very interesting to attract EU clients and minimise tax.
The setup may resemble the following:
- A Cyprus non-dom resident owns the Cyprus company on your behalf and acts as nominee director
- No need for employees or physical office, no extra expenses (you need a true Cyprus resident for it to work)
- Clients get invoiced by the Cyprus Ltd
- You invoice to the Cyprus Ltd what is STRICTLY necessary to cover your company expenses back in Russia
- The Cyprus Ltd pays you in Crypto, to circumvent banking restrictions
- The rest of the profit gets taxed 12,5%
- After tax, the profit is distributed by the Ltd to the Cyprus resident, as dividend
- Dividends are (almost) free from any other burden for the non-dom resident nominee
- The nominee sends the net dividends to you in crypto, as a lifetime donation
- There's no gift tax in Cyprus, nor in Russia
- You enjoy the money legally
To minimise risks with the nominee, you can agree for a monthly (or even weekly payment); that depends on your business model
As of today, Mashreq are not accepting any Russian passport holders. Russian born but with a different passport is acceptable.
Mashreq is very quick at freezing accounts based on Google search (no court order).
ADIB is good once you get past the idiocy of their customers service.
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
have we already reached the point where banks reject all russians just based on passport?
I think that's a proper decision. And by the same token, a great deal of the americans and europeans have to be banned from all the banks owing to the atrocities they've done in the Middle East, for instance, by engaging in proxy wars, by sending weapons there, killing civilians and, for the US, envading Irak and Afganistan.
It's the best decision for exposing the idiocy of banks and the inevitability of cryptocurrency.
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@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields
Not all but because there is an influx of Russians in to the UAE right now they will be a quiet agreement that Russians with no previous tie to the UAE will be rejected.
Hello @DavidS,
Depend on how you are going to maintain your business.
Might be UK LP structure will be an option for you if you don't want really care about the company
Few fules to make it super easy
1) Nominee from not taxtatible jurisdictions
2) No financial relations with UK counterprties
^ With this structure you'll meet some problems with EMI or Banks onboardings, but this can be solved if you will show who is UBO
Georgian company can bring you lots of problems... also that is not that high rated jurisdiction that can't be accepted by some financial institutions and please anyone help me to close account in TBC
Depend on how you are going to maintain your business.
Might be UK LP structure will be an option for you if you don't want really care about the company
Few fules to make it super easy
1) Nominee from not taxtatible jurisdictions
2) No financial relations with UK counterprties
^ With this structure you'll meet some problems with EMI or Banks onboardings, but this can be solved if you will show who is UBO
Georgian company can bring you lots of problems... also that is not that high rated jurisdiction that can't be accepted by some financial institutions and please anyone help me to close account in TBC
I think there is some confusion of the non dom concept here..
Also, you can't hide the UBO any more, all companies have an obligations to disclose the UBO's details in the relevant reguster. Failure to comply would incur criminal liability on the director.
it isn't always possible.
non the less I just opened a thread about something that is going on like that, you are welcome to comment on it here
https://www.offshorecorptalk.com/th...nee-owner-director-and-shareholder-how.36677/
I know the rules, but I just saw the opposite with my own eyes in a documentary.
Yes, it is also not advisable. Just make sure the bank aligns with your passports geopolitics.
yes.. looks like I figured out what they are doing and how... will post about it inside the mentor group gold to avoid public attention.
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