Hello Everyone!
Please, I would be gratefull for some Input
Now:
( I have never done official business , learned all by trial and error)
10 Businesses are up and running (fake)
Import is done via UK Agent
Logistics (Anonym Sender) and Client Support are working professionally. Top Rated Seller with excellent reviews.
Plan:
I plan to register and maintain 5 - 10 separate Businesses. All on real Data + Docs.
From a publics perspective they are separate entities.
All trading is B2C of physical goods ( Sunglas / clothes / accessoires etc.)
While the old Setup is working and ok. It lacks real Business Banking accounts.
Some Suppliers prefer operating via real cash, I cant solve this one, used to provide a CC for withdrawal , possible via Business CC ?
For future i for sure need to get a hang of maintaining a somewhat official business.
______________________________________________________________
4 Main points that my selection of Company Jurisdiction is based upon :
- 1. Smallest obstacle possible for being accepted by : Banks / Payment Processors / Marketplaces
- 2. Online Registration
- 3. Setup fees: The initial One-Time-Payment for Company Setup
- 4. Maintenance fees: Repeating Payments each Year/Month in Order to Maintain the Business ( e.g. for Accountant)
- 5. Demand for precise bookkeeping ( how strong must it all match up, never done bookkeeping so lack real life experience here )
Points of Less Importance:
Lowest Fees on Profits/Dividents in the long run
Nationality of Business Owners ( residence in home country):
- East Europeans ( with no possibility of changing residency)
With all the requirements in mind, UK seems like the best option ( smallest Registration and maintenance fees)
- VAT : After Setup, they stay under the VAT registration treshold of 85.000 -> No Sales Tax applies
- Corporate Tax : 20 % apply for all Profit made ?
- Dividents : are they payable in UK or country of residence ?
questions:
- How strong is bookkeeping controlled ,how freely can assets move in/out/between each system without raising suspicion ?
- How to manage Import officially, I obviously dont want to import 10x1 parcel of goods but rather 1x10 parcels
or is it possible to continue Importing via old method and just declare profits ?
- How are Business expenses like Virtual Assistant deductable? Must there be an actual Cash transfer to a Bank account
( Can set up 10 to 20 VAs with separate Bank accounts if needed)
- Can I use Accounting services of 1 Accountant or should I spread ?
- Are there some bottlenecks I am not aware of yet (especially tax realted) ?
Thank you in advance folks 🙂
Please, I would be gratefull for some Input
Now:
( I have never done official business , learned all by trial and error)
10 Businesses are up and running (fake)
Import is done via UK Agent
Logistics (Anonym Sender) and Client Support are working professionally. Top Rated Seller with excellent reviews.
Plan:
I plan to register and maintain 5 - 10 separate Businesses. All on real Data + Docs.
From a publics perspective they are separate entities.
All trading is B2C of physical goods ( Sunglas / clothes / accessoires etc.)
While the old Setup is working and ok. It lacks real Business Banking accounts.
Some Suppliers prefer operating via real cash, I cant solve this one, used to provide a CC for withdrawal , possible via Business CC ?
For future i for sure need to get a hang of maintaining a somewhat official business.
______________________________________________________________
4 Main points that my selection of Company Jurisdiction is based upon :
- 1. Smallest obstacle possible for being accepted by : Banks / Payment Processors / Marketplaces
- 2. Online Registration
- 3. Setup fees: The initial One-Time-Payment for Company Setup
- 4. Maintenance fees: Repeating Payments each Year/Month in Order to Maintain the Business ( e.g. for Accountant)
- 5. Demand for precise bookkeeping ( how strong must it all match up, never done bookkeeping so lack real life experience here )
Points of Less Importance:
Lowest Fees on Profits/Dividents in the long run
Nationality of Business Owners ( residence in home country):
- East Europeans ( with no possibility of changing residency)
With all the requirements in mind, UK seems like the best option ( smallest Registration and maintenance fees)
- VAT : After Setup, they stay under the VAT registration treshold of 85.000 -> No Sales Tax applies
- Corporate Tax : 20 % apply for all Profit made ?
- Dividents : are they payable in UK or country of residence ?
questions:
- How strong is bookkeeping controlled ,how freely can assets move in/out/between each system without raising suspicion ?
- How to manage Import officially, I obviously dont want to import 10x1 parcel of goods but rather 1x10 parcels
or is it possible to continue Importing via old method and just declare profits ?
- How are Business expenses like Virtual Assistant deductable? Must there be an actual Cash transfer to a Bank account
( Can set up 10 to 20 VAs with separate Bank accounts if needed)
- Can I use Accounting services of 1 Accountant or should I spread ?
- Are there some bottlenecks I am not aware of yet (especially tax realted) ?
Thank you in advance folks 🙂