Help Needed: Best Country to Establish a Company
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I understand your logic and it is indeed valid to some degree, but there becomes a point where a founder does not need to worry about taxation and accounting, delegating it frees up valuable time, mind share, and frankly overhead. But to each is there own. Hope you find a viable setup.
I am not looking for a viable setup 😉 I am out of those games and keep my situation very simple (and effective).
Taxation is something every founder should be involved in at all times. I cant remember how much we saved. It's your plan, you know how to︀ execute. Only hire external help when its absolutely necessary. Not in the last to avoid︁ your data ending up in the wrong hands. Corporate structures cant be protected by IP︂ for instance.
Accounting, when compartmentalised per country, can be outsourced. I do agree on that︃ wrt freeing up time. Group accounting etc should be done in house. Else its literally︄ your advantage on the streets for your competition. Not directly, but indirectly. With that I︅ mean that if you involve too many external parties and they see that you are︆ on to something with how your setup works, they will copy and paste that to︇ your competition.
Be careful about what you outsource for that matter.
Taxation is something every founder should be involved in at all times. I cant remember how much we saved. It's your plan, you know how to︀ execute. Only hire external help when its absolutely necessary. Not in the last to avoid︁ your data ending up in the wrong hands. Corporate structures cant be protected by IP︂ for instance.
Accounting, when compartmentalised per country, can be outsourced. I do agree on that︃ wrt freeing up time. Group accounting etc should be done in house. Else its literally︄ your advantage on the streets for your competition. Not directly, but indirectly. With that I︅ mean that if you involve too many external parties and they see that you are︆ on to something with how your setup works, they will copy and paste that to︇ your competition.
Be careful about what you outsource for that matter.
I disagree with your entire post. You, I am absolutely sure,︅ have never ever come up with some ground breaking setup that has not yet been︆ thought of by the big four and their associated boots on the ground operations with︇ access to law makers. Tax strategies are not unique. Taxation is the last thing a︈ founder should be involved in. If you're some small affiliate marketing "company" I guess you︉ can waste time messing around looking for a setup to avoid a bit of tax,︊ but for anyone running a business with 10M EUR or USD per year it is︋ the absolute last thing they should be doing. Hire a competent firm, pay their fee,︌ the savings in time and taxes and most importantly the survivability and sustainability of such︍ setup in the future will pay for itself.
Currently doing two other countries. Normally, I get better results when I operate than when lawyers are handling it. Last week, my accountant︀ was telling me that he could only get a two weeks extension and there will︁ be no further extension. It took me two phone calls to get a whole three︂ months of extra time. I only used the "magic word" starting with F once and︃ then conversation became very polite afterwards.
I can only recommend that.︇ Nobody else as you knows your company better. Nobody else as you benefit more from︈ knowing all even better. I already mentioned it quite some times, any legal advice is︉ basically useless if you are unable to give them the whole picture, which often is︊ much harder than you think and which in many cases we have here is very,︋ very far from the normal people's or companies life.
https://www.offshorecorptalk.com/threads/stripe-exceeded-the-tax-threshold.45764/page-2#post-317491
Ok, but you know what is the problem with those structure?︀ That they only last about 3 to 5 more years as they have been telling︁ everybody the same lines. It is like with McKinsey, big companies love them. You know︂ why? Because they can hire them once and then, they know what their competitors have︃ been advised. If they do the pure opposite, they will find themselves in very profitable︄ niches within just months. Also, if you run a 10M company alone, you have way︅ more ways to lower taxes than the SME company with 40 employees for this. This︆ is why the big four won't be able to help. You probably find more ways︇ to avoid taxes here on the forum than with the big four, whose recommendation is︈ quite well-known.
I can only recommend that.︇ Nobody else as you knows your company better. Nobody else as you benefit more from︈ knowing all even better. I already mentioned it quite some times, any legal advice is︉ basically useless if you are unable to give them the whole picture, which often is︊ much harder than you think and which in many cases we have here is very,︋ very far from the normal people's or companies life.
https://www.offshorecorptalk.com/threads/stripe-exceeded-the-tax-threshold.45764/page-2#post-317491
Ok, but you know what is the problem with those structure?︀ That they only last about 3 to 5 more years as they have been telling︁ everybody the same lines. It is like with McKinsey, big companies love them. You know︂ why? Because they can hire them once and then, they know what their competitors have︃ been advised. If they do the pure opposite, they will find themselves in very profitable︄ niches within just months. Also, if you run a 10M company alone, you have way︅ more ways to lower taxes than the SME company with 40 employees for this. This︆ is why the big four won't be able to help. You probably find more ways︇ to avoid taxes here on the forum than with the big four, whose recommendation is︈ quite well-known.
You couldn’t be further from the︃ truth.
Instead of throwing accusations and assumptions it’s always better to start asking questions.
By not doing that you disqualify yourself from the start.
I agree
Any structure should be reviewed every 5 years anyways. Most structures do not live much more︍ than 10 years if agressive planning is used.
The reason for this is that it︎ on average takes between 5-10 years to change laws to combat aggressive planning.
That knowledge️ the mckinseys of this planet also use for their clients. Their biggest asset is that they have the ins on many structures. And then it’s copy paste with a little tweak or twist here and there.
Once you realize that, doing it yourself saves a lot of money and more so, headaches.
Also by staying away from what the competition does you steer away from potential issues that cost all your competitors.
Instead of throwing accusations and assumptions it’s always better to start asking questions.
By not doing that you disqualify yourself from the start.
I agree
Any structure should be reviewed every 5 years anyways. Most structures do not live much more︍ than 10 years if agressive planning is used.
The reason for this is that it︎ on average takes between 5-10 years to change laws to combat aggressive planning.
That knowledge️ the mckinseys of this planet also use for their clients. Their biggest asset is that they have the ins on many structures. And then it’s copy paste with a little tweak or twist here and there.
Once you realize that, doing it yourself saves a lot of money and more so, headaches.
Also by staying away from what the competition does you steer away from potential issues that cost all your competitors.
I've had the same stucture going on 8 years now. There is︃ zero chance it changes. Not sure what you mean about "telling everyone the same lines".︄ You're confusing consulting firms with the big four accounting firms. I never once mentioned consultants,︅ taxation has nothing to do with management consulting, and the other details of competitors and︆ what they're advised on and how it affects profitable niches...
You'll most definitely not find︇ anything remotely close on this forum, just stop, the setups and most of the people︈ here are amateurs, not to mention, majority are asking for zero tax, cheaply, and easily︉ which doesn't exist. The big four have a large boots on the ground operations globally,︊ access to lawmakers, they even provide guidance to law makers, and are utilized by the︋ world's wealthiest individuals and corporation.
Not taking anything away from offshore corp talk, but to︌ say you'll find better advice here is absolutely asinine. There is no need to be︍ triggered here, what I am stating is absolute fact, not an opinion or some sort︎ philosophy.
You'll most definitely not find︇ anything remotely close on this forum, just stop, the setups and most of the people︈ here are amateurs, not to mention, majority are asking for zero tax, cheaply, and easily︉ which doesn't exist. The big four have a large boots on the ground operations globally,︊ access to lawmakers, they even provide guidance to law makers, and are utilized by the︋ world's wealthiest individuals and corporation.
Not taking anything away from offshore corp talk, but to︌ say you'll find better advice here is absolutely asinine. There is no need to be︍ triggered here, what I am stating is absolute fact, not an opinion or some sort︎ philosophy.
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