Dutch noob looking for a cheap entity to test several business ideas.

[cheapestentity]

I'm here to do some research on how I can setup an entity the cheapest way to test several business ideas I have. I am now reading about creating UK LTD that costs only £13,-. Why do I care about it being cheap? Well I'm broke. I want to put in work. I have several ideas and need to keep it low cost untill I can find the right idea that works for me and after making some money I can then invest in incorporating in the ideal place regardless of costs. I live in The Netherlands and therefor I am also researching on how I can comply with Dutch law.

That's me. If you are interested in the same subject, don't hesitate to contact me. Thank you guys and I love the forum!!

 

[bizniz]

You can form a sole proprietorship in NL, or a limited partnership (CV).

Remember UK‌ is cheap to set up but afterwards the compliance costs are high.

I set up‍ a CV in Netherlands with an offshore company as one partner and an EU resident⁠ individual nominee (Portugal) as the other and it is working great so far. It is⁤ tax free in NL provided there is no local income and it has a far⁣ better reputation for banking than Scottish Limited Partnerships etc. I opened EMI and Stripe accounts⁢ without any problem.

 

[Rprox]

I am︉ on the same frequency. I would like to test the waters first but also comply︊ with all laws, because certain countries from what I understand can find out alot information︋ about startups and they will soon catchup, if you have anything to share on the︌ forum I woukd be grateful. I very close to establishing my first startup but my︍ concern is what if its a huge cost factor then I may aswell just start︎ establish my startup that is not on my governments list of DTA's. Share some ideas️ please.

 

[CyprusLaw]

Hi Rprox,

Which jurisdiction are you considering?︀ Cyprus would be a cost effective solution, with excellent tax incentives, and the services offered︁ in Cyprus are of very high quality at a lower cost compared to other jurisdictions.︂ Also the cost of incorporating and administering a company in Cyprus is considerably low.

 

[Jerry1911]

What are the costs associated with such⁢ structure?

 

[Rprox]

Hi @CyprusLaw thanks for⁤ the reply, I have been considering the UK but its not set in stone though,⁣ but based on what I am reading in the forum Cyprus seems to be a⁢ good candidate which I have no knowledge of, thanks I will reach out to some︀ service providers in Cyprusn are there any specific service provider or company firmation agency that︁ you would recommend?

 

[CyprusLaw]

Yes of course⁣ is it ok to PM you?

 

[Rprox]

Yes, you may thanks

 

[OffshoreJJ]

bizniz said:
You can form a sole proprietorship in NL, or a limited partnership (CV).

Remember UK is cheap to set up but afterwards the compliance costs are high.

I set up a CV in Netherlands with an offshore company as one partner and an EU resident individual nominee (Portugal) as the other and it is working great so far. It is tax free in NL provided there is no local income and it has a far better reputation for banking than Scottish Limited Partnerships etc. I opened EMI and Stripe accounts without any problem.
Click to expand...

so who is the ruling partner of the cv? needs to register for social contributions? who is this nominee? and where is the income generated from?

 

[Jade33]

so who is the ruling partner of⁢ the cv? needs to register for social contributions? who is this nominee? and where is︀ the income generated from?

 

[Rprox]

@bizniz, can you provide an example⁢ of compliance costs in the UK, maybe elaborate a little based on your knowledge or︀ experience please? Give me an example of compliance costs please, I noticed the UK agencies︁ are cheap but the agent cannot advise on these other costs involved. I really do︂ not want to waste my money but I have to do extensive research. Please reply︃

 

[cheapestentity]

You can only set up one sole⁢ proprietorship (eenmanszaak) in The Netherlands which makes it not an option for me. CV won't︀ work for me because you are personal liability and you need a partner.

What kind︁ of costs do you mean that come up with a british LTD/LLP?

 

[polonieth]

You don't need to set up an entity to test a business idea. You can‌ do that after you actually prove it can work.

 

[cheapestentity]

Maybe you can do that but I need to send invoices and receive money in a‍ bank account. Can't do that without an entity.

 

[polonieth]

What invoices are you sending?

 

[cheapestentity]

b2b service contracts. businesses send‌ invoices. is that something new to you?

 

[polonieth]

I wouldn't be setting up an entity for something before I am even‌ close to sending my first invoice. An individual can send an invoice no problem.

You admitted in your first post you're essentially clueless, so take my advice and don't bother‍ incorporating in the UK for a non-existent business.

If you can get a client, and⁠ they are willing to pay you, figure out the incorporation stuff later down the line.⁤

 

[cheapestentity]

I'm not here for business advice. I'm here for incorporating advice. Very⁣ specific. Thank you though.

 

[Silvio]

100% agree, I met so many people worry about taxes before they⁣ made a cent. Usually it's a form of procrastination

 

[cheapestentity]

soort zoekt soort is a saying here in The Netherlands. If you're wasting time on‌ procrastinators, you may not be so different after all. Wasting time and going off topic‍ on other peoples threads is not procastination?? lol okay.