Legal structure for consulting business whilst nomadding

[102938]

Hello,

I ditched my previous tax residency in England a few years ago to avoid becoming domiciled.

Been living off of savings and travelling Asia since and I've prepared everything I need to start a consulting firm.

Below is a list of considerations that I would like address as part of the structure:

- Asset protection / privacy (no public register)
- Invoice clients in EU/UK
- Less than 15% tax (corporate/personal combined)

Nice to have:

- No yearly accounts/audits

My goal is to have a legitimate legal entity I can use to start invoicing for services rendered, whilst staying mobile.

Not interested in incorporating in the US as I do not want to deal with regulatory uncertainty.

I intend to spend my time between Asian countries (for the next 2-3 years) such as Thailand/Vietnam/Malaysia/Indonesia/Cambodia and I'll likely not remit any income to these jurisdictions.

I only have around 10k in savings left, so my budget for a complete setup is likely around 5k all in, can't afford fancy trusts or holding co's just yet.

But the ultimate goal is to have a holding co offshore, with limited to no accounting requirements to make life easier, no CIT and the ability to spin up subsidiaries for SaaS products.

I've considered Paraguay for residency, along with an IBC, although I fear banking may be an issue.

- How hard would it be to get corporate banking in the EU with something like a Cook Islands LLC or a Nevis IBC?
- Is there any problems with invoicing clients in the EU or the US from something like a Nevis IBC - not worried about the stigma associated with the jurisdiction, but in terms of accounting on their end?
- Is there some way for me to gain temporary residency somewhere and use that for incorporation, and if so, are you aware of any cheap residencies which may work?

I feel like I'm asking for a lot, but these are the cards I have been dealt.

Appreciate all of your suggestions and I'd like to thank you for taking the time to reply.

Last edited: Apr 23, 2025

 

[cyprusbanker]

A possible solution is something like Montenegro, rent a cheap place you can live in. You could also do the same in, say, Germany, France, etc. Sign up for electricity and heating at that address, and wait until you receive a utility bill. Alternatively, register a mobile phone number to that address. Once you've done that, you can open a local bank account, and then you have everything you need.

You can register as a resident in these places just until you get what you need, and then deregister again, switching to a P.O. box address.

I've been doing this for the past four years, works like a charm. In the countries I've used, they don't even register that you were ever there.

 

[102938]

cyprusbanker said:
A possible solution is something like Montenegro, rent a cheap place you can live in. You could also do the same in, say, Germany, France, etc. Sign up for electricity and heating at that address, and wait until you receive a utility bill. Alternatively, register a mobile phone number to that address. Once you've done that, you can open a local bank account, and then you have everything you need.

You can register as a resident in these places just until you get what you need, and then deregister again, switching to a P.O. box address.

I've been doing this for the past four years, works like a charm. In the countries I've used, they don't even register that you were ever there.
Click to expand...

That's not a bad idea, but Montenegro is currently not an option, I have to stay in Asia for the next few years.

 

[undercover]

You are limiting your self to Asia, fine, still options to go the path suggested above as I see it. But I have no clue how the countries and tax systems works out there. But I have done similar and on the 9th year with banking and other financial services active on names,m addresses and countries where I lived back then but never went back to. Photoshopping my docs every year when they want to update the KYC. Works well.

 

[Martin Everson]

102938 said:
Been living off of savings and travelling Asia since and I've prepared everything I need to start a consulting firm.

Below is a list of considerations that I would like address as part of the structure:

- Asset protection / privacy (no public register)
- Invoice clients in EU/UK
- Less than 15% tax (corporate/personal combined)

Nice to have:

- No yearly accounts/audits

My goal is to have a legitimate legal entity I can use to start invoicing for services rendered, whilst staying mobile.
Click to expand...

Why not start with a simple solution like Xolo Go. You get a compliant solution out the box including EU bank account etc that is EU/UK client friendly. Then later incorporate something in traditional offshore locations.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[lory]

Is there any upper limit with Xolo Go ? I mean, upper limit in turnover!

 

[Martin Everson]

lory said:
Is there any upper limit with Xolo Go ? I mean, upper limit in turnover!
Click to expand...

Good question. Don't know but I am sure there will be internally.

If however people want a similar non-EU Asia solution but with a corporate entity, nominee director and Employment Pass (work visa) then the below Singapore solution may be an affordable option. But you need a good income to have it make sense. But Singapore residency if one can afford it (lol) gets you access to affordable fintech providers such as Revolut and Wise etc.

https://osome.com/sg/incorporation/for-foreigners/

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.