Cheapest online offshore company formation destinations to utilize non dom benefits

[Nw1]

What is government fees for company name reservation, incorporation, and other related expenses when registering directly with the respective country authorities?
Does country have foreign income tax exemption?
Does country require yearly CIT/Annual return submissions?
Does country require yearly 3rd party audits?
Does country require yearly or quarterly tax payments? Prefer year end at once tax payment options so less paper work, calculations etc

 

[daniels27]

Cheaper if probably US LLC. Can you use your non dom with that?

 

[SoNewToAllShit]

Seychelles and Belize, cheap and no accounting required if you only use the company for‌ a year or two. Otherwise easy to get some fake accounting for the company.

 

[Juleski70]

Canadian LLPs (Ontario and BC provinces) are relatively cheap and have relatively low reporting requirements‌ and have reputational advantages (no 'offshore vibes')

 

[redeye]

Cheap is always a bad idea if you are into some long time business venture.‌ Then better look into some solid company setup that can work for you for years‍ without too much attention from the tax man.

 

[Davis123]

Hmm I thought Seychelles does require audit reports nowadays. Please correct⁠ me if I am wrong. Marshall Islands is one of those that still don’t require⁤ as of yet.

 

[Nw1]

Think Marshall no stripe, paypal or wise for offshore companies right⁠ so how do you collect customer payments?

 

[Nw1]

I could but scared of uncle sam, I think they have quarterly‍ scheme right for tax payments non dom? And lots of paperwork? There was this one⁠ person that literally opens US LLC every year and closes it after 1 year so⁤ he can avoid paperwork lol but no idea how he pulled it off getting new⁣ payment EMI providers for customer payment collections since UBO is same in all new companies⁢ and wouldn't it be figured out by payment provider and stop working with his new︀ entities?

 

[forward]

what are your type of business and revenues. it could be USA,︀ UK, offshore, just depending on your next mid-term steps - is it an asset holding︁ company, payment agent, etc...

 

[daniels27]

Are you US tax payer?

 

[Nw1]

This will be for a new business line, expected⁠ revenue 10K-4Mn USD per year. Type of business would be diversified export, import, IT, Edu,⁤ logistics, agri, etc Purpose is for payment collection from end customers and availing non dom⁣ tax relief.

 

[Nw1]

Nope

 

[daniels27]

Then why worry about "quarterly tax payments" in the‌ US?

 

[Nw1]

If they have a quarterly system then most countries require you to do calculations quarterly‍ and submit docs quarterly(even if you are liable for tax or not), i want less⁠ work and want it to be all done at year end

 

[ilke]

If the company does not have ECI, the classic US tax law does not⁤ apply and the company distributes as a purely transparent entity.

@usacpa can assist you with⁣ this if you don't want to study all of the processes on your own.

 

[Nw1]

The point of the company would not be to move the revenue/profits⁤ to another entity/as dividends but hold onto all the money and reuse as necessary for⁣ more growth or into debt instruments to acquire more assets/equity all using non dom foreign⁢ income waiver with minimal yearly paperwork and no quarterly extra work

so is US LLC︀ really suitable for this? Or you think US in future will change law like UK︁ did?

 

[daniels27]

I am not sure. It‍ depends on your personal tax situation. It may work in some cases. In most of⁠ the cases it has the same effect as the real offshore companies at a fraction⁤ of the cost. But there are cases where it does not make sense. I normally⁣ do not recommend the US LLCs either.

What is your residence? What is the nature⁢ of business? Where are the clients?

 

[Nw1]

Type of business would be diversified export, import, IT, Edu, logistics, agri, etc
Just realised US LLC may not work since have couple of US based clients as well⁣ in line to use the business once payments etc setup so their income would be⁢ considered local..

 

[daniels27]

Yes, not a good idea. But where are you⁤ resident? Unless you are in Monaco or travelling etc. you would need a company with⁣ substance in order to avoid your traxes back home.

 

[Nw1]

Not living in a tax free country⁠ like Monaco but it is not one of the big 5 and the country lacks⁤ sufficient man power/tracking capabilities to come after if the entites made are totally seperate to⁣ each other. Unless like it is making 200-1000Mn revenue then they will come after finding⁢ to claim their cut
Thing is I don't take money out from the new company︀ as dividends/salary etc so I anyway wouldn't have a personal tax implication as money is︁ retained inside new company and reuse as necessary for more growth or into debt instruments︂ to acquire more assets/equity all using non dom foreign income waiver with minimal yearly paperwork︃ and no quarterly extra work