Company for Territorial Tax Country

[eRabbit]

Hi,
If I get tax residency in a territorial tax country such as Panama or Costa Rica, what would be the best option for exempting my income from taxes? Would the best option be to start a company in a foreign country and pay myself a salary/dividends? If so, which countries have no corporate taxes and offer an easy process for establishing a company?
Thank you in advance!

 

[Martin Everson]

Never mind tax questions first things first. Where are you hoping to open an offshore‌ company bank account while holding a Panama or Costa Rica residency?

 

[eRabbit]

UK LLP or Estonian e-Residency? Do you have any other suggestions?

 

[orangekangaroo]

I would use a UK llp, US or Canadian LLC

 

[Martin Everson]

Don't waste your time moving to Panama to save on tax unless your banking is‌ gonna be in that part of the world. Panama residency is garbage to most European‍ banks and EMI's.

Your best to look first at how to reduce your effective tax⁠ rate where you currently live. If after exhausting all options locally then look at a⁤ tax free country if you have the consistent high income to warrant it.

 

[eRabbit]

Thanks, I’m inclined to buy an Antiguan CBI

 

[JohnLocke]

What's the‌ benefit for you in regards to taxes?

 

[eRabbit]

7 figure savings, otherwise I don’t think it would be worth it

 

[uplana]

Maybe I should consider this as a jurisdiction I have to research.