Search results

What's wrong with Payoneer, TransferWise, or even 2CO paired with Zoho Invoice?

You haven't mentioned some key things in the scenario, but I don't see an issue with an LLC owning another in the same state. Can't comment on asset protection. I agree with @Admin. You need to solve the bank account problem, before you invest in the infrastructure.

I think the problem here is the diversity of jurisdictions. Banks are terrified of fines, and stuff. The best bet is to have accounts in different regions. If you're doing (or hoping to do) business in Asia, have an account in Singapore (the only feasible jurisdiction for banking in Asia...

Just because he's their client doesn't mean they're gonna accept everyone he brings in. YOU have to be legit. The business have to be legit.

He may be able to act as an introducer, but unless you have a legit reason for being in HK, and for a bank account there, you'll fail.

HK authorities aren't as tight-a*sed as the IRS. IRS doesn't want you cutting your tax bill by claiming business expenses. They ask you a lot of questions. That doesn't happen in HK. It's easier to claim business expenses. Hell, even tax evasion is not a crime in HK, provided the funds are...

Let's say your net profit for 2019 was $100k. You have no more bills to pay, or any other expenses. Let's also assume that you can't take that 100k, without paying taxes, since you don't have any legit expenses to claim a tax exemption. In an LLC, you WILL HAVE TO take the money out at the end...

Yeah. Probably some big guys, since they're the only ones that can afford the half-a-mil minimum initial deposit.

First, check if your country's tax laws. Do they tax worldwide income, or territorial income? Based on your tax rate, I'm guessing it's definitely not the latter. Also, there's a higher chance that they tax remitted income (again, check and verify), which means an LLC is out of the question...

Original article: Switzerland grants 18 more countries access to bank details The Swiss parliament has approved the automatic exchange of bank data with 18 additional countries from 2021. However, Turkey failed to make the cut. On Tuesday, the Senate followed the House of Representative's...

Regarding authorize.net for non-us residents, this might help. ANET

You need to be more specific than that, but based on you're niches, you may have to form different companies (perhaps in different jurisdictions) for each purpose. For example, you'll need a more reputable jurisdiction for your real estate holdings and e-commerce business, but you can just...

There's something called UBO (Ultimate Beneficiary Owner), where you NEED TO submit details about who's behind the corporate veils. Besides, Seychelles registry is public now (like in UK). You'd have a better chance with an IBC in UAE. BTW, thanks @Martin Everson for the tip.

To my knowledge, most banks can be hesitant towards remote account openings for offshore clients. So you're gonna have to use a service provider, who'll act as the intermediary, as well as an introducer. Pick one with a good rep. Tip: Tap into your contacts for someone who has similar needs...

As I learned recently (thanks to @Martin Everson) you don't need to have an office in UK. Just an address will suffice. You can use a virtual office, or just use a mail forwarding address.

I think the problem is the US LLC. If you're only doing business in EU, US payment providers may not accept you, since it makes no sense, even to me . You'll be better off with a EU company. Then they'll accept you.

Since govs and other bodies have enforced heavy penalties and fines for financial institutions for even little things, companies are easily spooked. Nobody wants to pay fines. That's for HSBC and Deutsche. I think the problem lies with the word ”˜consulting'. It's vague, and you can't prove...

Don't put all of your eggs in one basket. Especially in these waters. Things change, and sh*t happens. I'm surprised you didn't choose TW or something like that in the first place. Also, try to get a real bank acc. just as a backup. You're in an EU country, your business and clients are based...

C-corps are their own ”˜beings', and they're not disregarded. Hence, your income will get taxed twice. First, at the corporate level, and second, when you ”˜get paid', as salary, or dividends. If you're a solopreneur, I suggest a LLC. Taxed once, since it's passed-through, and you won't have...

I don't think OP could check all of his boxes in any jurisdiction, other than UAE. Even though you can find one (very unlikely), the rules will change in the future (like in Seychelles), due to obvious reasons.