Search results

Its 0% on foreign sourced income according to the lawyer I spoke to. Panama Corp + Residency looks like a very attractive option if you're in the right position but in my case,(pre-launch, $0 revenue) it's just premature optimization . So, revisiting it when it makes sense spares me a ton of...

That's a question I couldn't answer but I plan to get in touch with a few local lawyers this week to determine the viability of this set-up, I'll keep you posted. Last edited: Mar 22, 2021

As someone exploring a similiar set-up, I'd be very interested to hear the outcome of this, what banking residency solution did you end up with?

On the topic of TW and US LLC's. Is an EIN required to open a TW business account?

That would be nice, but the requirement is for a personal account according to the lawyers I've spoken to. I'd gladly take the Panamanian set-up despite the reputational drawback. I'd rather spend my time growing the business than chasing down banking in the EU. I'd spend the 183+ days there...

I am a UK citizen and tax resident who's been a perpetual tourist for 2 years. This year I'm looking to acquire Panamanian residency via the friendly nations visa, and tax residency by the 183 day rule. As the residency program essentially requires the formation of a Panamanian company. I'm...

How would you define easy? I've heard PayPal can be difficult to get for a US LLC without an SSN.

Thanks for the input all advice is welcome. I wouldn't be trying to stay under the radar of the tax authorities, any privacy requirement would just about keeping my business activities out of the public's/competition's eye. I'd be interested to know if PayPal business accounts are available for...

The closest embassy is a several hour flight for me. I could be open to traveling were it for account opening but as far I can see there isn't enough on offer wrt to Estonian companies to warrant the trip, no remote opening of Estonian accounts, and as you point out 20% on distributions, What...

Agreed, bona fide tax residency in a territorial tax, or tax free nation would be a better long term solution.

Correct, I'm only an affiliate, so there's no payment processing requirement (stripe etc), just the need to receive bank wires and PayPal. Would this open up other options. What are your thoughts?

Estonia does tick most of the boxes but the requirement to fly and collect the e-resident card in person is a deal breaker for me. That said I don't have an interest the Seychelles, BVI, Belize like solutions either. Anyway, I'm open to other suggestions for jurisdictions that match my needs...

Depending on what's on offer, I could be interested. What's a ballpark estimate (setup cost & annual maintenance) for their services. Thanks for all the useful input. It looks like the $2k annual maintenance is a bottleneck, that number is somewhat arbitrary, thinking in terms of what I can...

My ideal set-up would allow me to launch the business ASAP with some form of business banking (EMI or offshore account). The goal of going offshore being both limited liability and tax efficiency. Should the business prove successful I'd migrate the company to a more robust set up. I've looked...

Thanks, that's good to know. None of those "extras" look too demanding

Thanks, the need for 2 members wasn't something I was aware of. I'll have to look into it

After reading several users facing 2-3 month delays in getting their EIN's. My question is; would my newly incorporated LLC (Wyoming, Delaware etc) enjoy the protection of limited liability even if I was waiting to receive an EIN number? Allowing me to establish a web presence, and generate...

After some very helpful responses to my original thread on jurisdictions that came with good privacy and decent banking +pay pal and credit card processing. The consensus was that the business and privacy friendly US states would be the way to go (New Mexico, Wyoming etc), with main issue being...

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?

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.