Clarifications needed regading offshore corp money => me

[Marco]

Hi everyone,

I am a canadian running adult paysites. I sell monthly membership. In order to use Epoch, a third party biller, I need either an EU or an american corporation.

I thought about Delaware but I striked it off my list because all revenue coming from the US needs to be taxed at 35%.

Now I am considering a few different options:

1. Cyprus. I am not too sure anymore because of the new mandatory audit law.
2. Jersey or Guernsey.
3. Hungary. They have a flat rate 9% tax on all corporations since 2017.
4. Gibraltar. Best choice but it has become nearly impossible to incorporate there anymore.

Questions:

A) What corporation jurisdiction would you recommend in my case?
B) Once that I am set with a corp + an EMI account, how do I send the money to myself in order to avoid taxes as much as possible?
C) Would the fake docs be used for the corporation formation or the EMI or both?

Thanks in advance for your help

 

[thinkat]

A)I think you can use any jurisdiction which allow adult business you can compare them and see which suits you.

B)Why you want send money directly to you? You can use them from EMI account.

C)I think in Cyprus / Hungary / Gibraltar you can't use fake docs.

If you don't want your name to be there just simple pay one real nominee.

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[Marco]

Thanks for your reply Thinkat.

Let's say that I setup a corporation Cyprus.

- For anonymity, I use a nominee director + a nominee shareholder + a power of attorney to me.
Question : Is it safe? Theorically, the nominee director and nominee shareholder could access my funds, coudn't they?

- I set up the corporate account in a low tax juridiction in order to save money on corp tax. Obviously. I will stil need that money (or at leats part of that money) in my homeland.
Question : How to transfer? Can I pay myself a dividend from a Cyprus company to a canadian company? I think that I would then have to pay the taxes on it.
I thought that I could maybe transfer the money as if I the Cypus corporation would land me (or my canadian company) money. I am beeing naive? Stupid?

 

[thinkat]

So you use nominee director + nominee shareholder and make power of attorney directly to your name .... Where is anonymity here?
Again if you lend money directly to you which is the role of nominee?
You connect to much to this company and in the start think you want anonymity.

Between companies you can make how many loan agreements you want just be carefully if someday happen something to one of companies is not ok and also the loan should be repayed also the loan should have tax....

There are many factors which you need to consider.

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[JohnLocke]

Marco said:
A) What corporation jurisdiction would you recommend in my case?
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Go for Cyprus or Gibraltar, both are more time consuming and expensive to incorporate. The costs for accounting and filing of financial reports is aprox EUR 3000 every year. It's not cheap, however, if you are doing good with your business I would recommend you to consider one of these jurisdictions.

Marco said:
B) Once that I am set with a corp + an EMI account, how do I send the money to myself in order to avoid taxes as much as possible?
Click to expand...

It's not going to be possible to avoid personal income tax unless you cheat! Use the debit card from the EMI provider and withdraw the money as you need it. Usually you don't want to do it in your own city and most often not in your own country!

Marco said:
C) Would the fake docs be used for the corporation formation or the EMI or both?
Click to expand...

Both!

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[Marco]

thinkat said:
So you use nominee director + nominee shareholder and make power of attorney directly to your name .... Where is anonymity here?
Click to expand...

How can I open a bank account if I do not have a power of attorney? There is obviously something that I am missing here.

The director nominee and the shareholder nominee will allow me to stay anonym in the corporation. However, if I have a power of attorney document to open the bank account, then my name appears somwhere in the bank. What is the solution then?

Is dark docs the only solution? I am not a big fan of that solution.

 

[thinkat]

I think you have just 2 solutions:

1) Using darks and open EMI account

2) Using real nominee and open bank account in his name

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[NickNack]

You can make a USA LLC, and you dont pay taxes on any service conducted outside of the US. You can incorporate for 150 dollars and in one day.