Best setup for small income

[symon]

Hello,

I have few customers abroad, not really big ones.
Anyway I have enough income in my country of residence so I'd like to setup an offshore company with an offshore bank account so that all my customers abroad will use.

I'll not be UBO of the company/bank account.

Money will stay abroad I'll spend it when I'm on vacation or maybe to buy some stuff online.
I think I can save up to 20K/year so it's not that much.

If it can also be low maintenance setup I'd appreciate.

Any advice?
Thanks

 

[Samuel Newman]

Welcome, Symon!

what is your country of residence?
you might look at Gibraltar company + Leupay + MyPos

 

[negon]

You may reconsider your options. As I read you it sounds like you think that you can avoid to pay tax until you take out the money of the offshore company which is not how it works. This will work the first year until you get reported but then you get the tax hammer!

 

[symon]

Samuel Newman said:
Welcome, Symon!

what is your country of residence?
you might look at Gibraltar company + Leupay + MyPos
Click to expand...

Hello,

Belgium.
I don't think I'll need MyPoss, only online business, mainly wire transfer.
Do I need to do bookeeping with a Gibraltar company?

 

[symon]

auric said:
You may reconsider your options. As I read you it sounds like you think that you can avoid to pay tax until you take out the money of the offshore company which is not how it works. This will work the first year until you get reported but then you get the tax hammer!
Click to expand...

How could it be so? EMI will report the account to my country of residence?

 

[Samuel Newman]

symon said:
How could it be so? EMI will report the account to my country of residence?
Click to expand...

yes, this how it works in 2018, EMI will report to the local tax office, the tax office will report to the tax office in Belgium
the best option for you
is Gibraltar+ several EMI accounts under the name of professional nominee
it is not neccessary to do bookkeeping for Gibraltar nonresident company

 

[symon]

Samuel Newman said:
yes, this how it works in 2018, EMI will report to the local tax office, the tax office will report to the tax office in Belgium
the best option for you
is Gibraltar+ several EMI accounts under the name of professional nominee
it is not neccessary to do bookkeeping for Gibraltar nonresident company
Click to expand...

ok thanks,.
Does the EMI also report professional/business accounts?
I understood it was mainly personal account which I know I have to declare to my local tax authorities.

 

[Samuel Newman]

symon said:
ok thanks,.
Does the EMI also report professional/business accounts?
I understood it was mainly personal account which I know I have to declare to my local tax authorities.
Click to expand...

yes, they report business accounts as well
that's why I advised you to use professional nominees

 

[symon]

so I have to find a professional nominee from Gibraltar in that case, correct?
If I want to have a card, will it be under the nominee name or my name?
Do you have a rough idea about the cost of this setup?

 

[SOllivan]

auric said:
You may reconsider your options. As I read you it sounds like you think that you can avoid to pay tax until you take out the money of the offshore company which is not how it works. This will work the first year until you get reported but then you get the tax hammer!
Click to expand...

Auric, sorry to hijack this post... How can i contact you regarding your ready made companies?