You could simply incorporate a UK company and ask a UK lawyer to help you with the bank account and PayPal account opening. It's cheaper than most other setups I think. So it will work for your needs at Google Play!
Incorporation ideas for swiss freelancers
- Thread starter WorldBuilder
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im interested about this to because i earn money on my apps and want open a offshore business but i feel if go with UK LLP then the bank is the biggest problem because i need a local uk citizen open the business bank account for me in his name and i think not many ready to doing that? If there is people ready open bank accounts in UK send me to that Agent and i will contact them and ask about it.
As it's tax transparent (each shareholder are taxed based︃ on their home tax rate, in their home country), a Scottish LP is generally use︄ to split the revenue between official and taxed source in your country, and an offshore︅ and also to use a DTT to avoid 30% withholding as Google is based in︆ the USA for payments.
An example:
You sell a software via google, you can't use︇ an offshore or Google will apply a 30% withholding rate and you'll have a crapload︈ of money that you couldn't use to live.
You set up a Scottish LP with︉ two shareholders: 1 company in your own country and 1 offshore (with nominees). You split︊ the shares 30% home country 70% offshore.
If you earn 100k profits before tax and︋ your corporate tax in your home country is 20%:
Home country taxes: 100k x 0,30︌ x 0,20 = 6k | net profit = 100k x 0,30 - 6k = 24k.︍
Offshore taxes: 100k x 0,7 x 0 = 0 | net profit = 100k x︎ 0,70 = 70k
Total profit = 94k and you have an "official" revenue in your️ home country, you're not jobless without any known source of revenues...
But with this setup, I strongly advise to have an experienced CPA and tax lawyer, as sooner or later your own tax office will start to ask questions.
An example:
You sell a software via google, you can't use︇ an offshore or Google will apply a 30% withholding rate and you'll have a crapload︈ of money that you couldn't use to live.
You set up a Scottish LP with︉ two shareholders: 1 company in your own country and 1 offshore (with nominees). You split︊ the shares 30% home country 70% offshore.
If you earn 100k profits before tax and︋ your corporate tax in your home country is 20%:
Home country taxes: 100k x 0,30︌ x 0,20 = 6k | net profit = 100k x 0,30 - 6k = 24k.︍
Offshore taxes: 100k x 0,7 x 0 = 0 | net profit = 100k x︎ 0,70 = 70k
Total profit = 94k and you have an "official" revenue in your️ home country, you're not jobless without any known source of revenues...
But with this setup, I strongly advise to have an experienced CPA and tax lawyer, as sooner or later your own tax office will start to ask questions.
I want to know what country is the best for setup a company when you sell apps?
Where did you finaly register you company? i in same situation like you are and very interested find the best country for start up a company for our situations about app stores
talyn always talking about some withholding rate what country is best for avoid that?
Where did you finaly register you company? i in same situation like you are and very interested find the best country for start up a company for our situations about app stores
talyn always talking about some withholding rate what country is best for avoid that?
Use my Cyprus company for it. I have seen the insane threads about it and don't understand what the problem is. If you feel comfortable with UAE go for it, if you feel comfortable with St. Kitts... go for it if you feel comfortable with Scottish LP... go for it. I don't believe there is any entity better compared to the other.
What may differ is the fee you pay every year!
What may differ is the fee you pay every year!
That is just the thing we try find out here what is the cheapest solution and there is many things that are not same how easy to open bank and do you need travel to that country and many things that are not︀ same i try find out the cheapest solution but there is so many pros and︁ cons on all this countrys
if just a open a company then you can do︂ it ever in the world not need bee cyprus or any of this countrys you︃ talk about there is 100 countrys that you can open company in...but not me or︄ he who open this post was look for that simple answer where to open a︅ company
if just a open a company then you can do︂ it ever in the world not need bee cyprus or any of this countrys you︃ talk about there is 100 countrys that you can open company in...but not me or︄ he who open this post was look for that simple answer where to open a︅ company
Me too interested what country this guy who started the topic did finaly pick? but it seems he is gone :/
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