Hello guys,
I need to found a company to bill my european clients in the next 2 years and hope you can share insights, point me in the right direction and possibly even recommend the right service provider.
Situation:
- Moved out of Germany.
- Living in Thailand.
- Setup probably just for 2 years. Afterwards, I may move back to Europe.
- IT Freelancer with a single European Client.
- Income ~140k Eur / Year
- Would prefer to be paid in Euro.
- Option to hire myself via a Thai company which provides a Visa and Work Permit and bills my own company.
I read all previous posts but all the information that I could gather was from a guy called Wellington who recommended a Seychelles company with a local director.
Options for companies to found:
US LLC
I could just straight up bill my customer from a US LLC. According to a lawyer I talked to this would most likely cause no trouble in Thailand. However, I'd like to mitigate the risk of establishing a permanent establishment. I.e. my thought process was that a company with at least a little bit of substance and at least a nominee director would lower that risk.
Seychelles IBC + (optional US LLC)
I could just found a Seychelles company with a nominee director or even better with a real director who signs that single contract with my client. However, I heard it would be difficult to get a bank account.
If thats a viable solution please point me to a service provider if you can recommend someone.
For the bank account problem: Is it viable to just found a Seychelles Company which then creates a US LLC? Then, only the US LLC would own a bank account. That should be easier right?
Singapore LTD
A singapore company would also be nice. However, I would not satisfy the requirements (at least officially) to be a tax resident in Singapore. Therefore, I could not use the Singapore startup tax exemption (4.25% CIT on first 100k SGD, 8.25% on 100-200k). This would then lead to a 17% taxation in Singapore. Additionally, double tax agreements would not apply for me. I.e. if Thailand decides that I established a PE, I would have to pay Singapore 17% + Thailand taxes & fines on top.
I don't try to be cheap on the consulting costs but so far neither the international tax consultant (recommended Singapore LTD + Dividenden in Thailand ausschütten) nor the lawyer who had knowledge for the Germany/Thailand scenario (recommended just US LLC) really helped me find a satisfying setup. Would be happy about a second opinion. Thanks in advance for any input!
UAE Freezone Company
I read about Fred who sets up companies in the UAE. Sounds like a good solution with a company with substance but pretty expensive. The setup would cost me 18-22k for 2 years + flights and time spent in Dubai as far as I understood.
However, I'm also willing to go with that setup if it provides me peace of mind because the company has real substance.
I need to found a company to bill my european clients in the next 2 years and hope you can share insights, point me in the right direction and possibly even recommend the right service provider.
Situation:
- Moved out of Germany.
- Living in Thailand.
- Setup probably just for 2 years. Afterwards, I may move back to Europe.
- IT Freelancer with a single European Client.
- Income ~140k Eur / Year
- Would prefer to be paid in Euro.
- Option to hire myself via a Thai company which provides a Visa and Work Permit and bills my own company.
I read all previous posts but all the information that I could gather was from a guy called Wellington who recommended a Seychelles company with a local director.
Options for companies to found:
US LLC
I could just straight up bill my customer from a US LLC. According to a lawyer I talked to this would most likely cause no trouble in Thailand. However, I'd like to mitigate the risk of establishing a permanent establishment. I.e. my thought process was that a company with at least a little bit of substance and at least a nominee director would lower that risk.
Seychelles IBC + (optional US LLC)
I could just found a Seychelles company with a nominee director or even better with a real director who signs that single contract with my client. However, I heard it would be difficult to get a bank account.
If thats a viable solution please point me to a service provider if you can recommend someone.
For the bank account problem: Is it viable to just found a Seychelles Company which then creates a US LLC? Then, only the US LLC would own a bank account. That should be easier right?
Singapore LTD
A singapore company would also be nice. However, I would not satisfy the requirements (at least officially) to be a tax resident in Singapore. Therefore, I could not use the Singapore startup tax exemption (4.25% CIT on first 100k SGD, 8.25% on 100-200k). This would then lead to a 17% taxation in Singapore. Additionally, double tax agreements would not apply for me. I.e. if Thailand decides that I established a PE, I would have to pay Singapore 17% + Thailand taxes & fines on top.
I don't try to be cheap on the consulting costs but so far neither the international tax consultant (recommended Singapore LTD + Dividenden in Thailand ausschütten) nor the lawyer who had knowledge for the Germany/Thailand scenario (recommended just US LLC) really helped me find a satisfying setup. Would be happy about a second opinion. Thanks in advance for any input!
UAE Freezone Company
I read about Fred who sets up companies in the UAE. Sounds like a good solution with a company with substance but pretty expensive. The setup would cost me 18-22k for 2 years + flights and time spent in Dubai as far as I understood.
However, I'm also willing to go with that setup if it provides me peace of mind because the company has real substance.
