No banking needed: Easiest and cheapest offshore company

E

Eintagsfliege

New Member
Oct 12, 2020
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Hi all,

I'm looking to set up an offshore company for my business with the following features:

  • No bookkeeping or audit requirements
  • No substance requirements
  • Lowest costs for setup and ongoing maintenance

I won't need banking services or a bank account coz all my customers pay me in cryptocurrency. However, I need the company to provide some privacy protection such as for domain registrations, legal disclaimers on my website and contracts with clients. I want to avoid using my personal name for these purposes to minimise personal liability and my privacy.

US LLCs aren't suitable for this specific business project due to the nature of my business (its legal but in some states it may fall into "grey" area). I'm also not keen on revealing my full identity under the new CTA rules.

For context: I'm a non-US person and a tax-free nomad.

I'd appreciate your recommendations and advice. Thanks in advance
 
How about the Canadian or British LP/LLP?

Otherwise, BVI, Seychelles, St. Vincent and the Grenadines are among the cheapest ones.

The substance requirements only apply for certain business cases, not sure if you are among those. The relevant activities are: banking business, distribution and service centre business, financing and leasing business, fund management business, headquartering business, pure equity holding body, insurance business, intellectual property business, shipping business.

And what do you actually need it for? Just for the address and name? Then why not use a Swiss Association (the officially do not allow for profit activities but you could always claim to be not for profit depending on your case) with a mailbox somewhere?

Last edited: Dec 28, 2024
 
Hey thanks for the info. I forgot to mention that it should also have some good privacy protection, meaning that not everyone can go and look up my name in the registry.

daniels27 said:
daniels27 said:
How about the Canadian or British LP/LLP?
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They have bookkeeping requirements as far as I know. Plus overall not ideal for my setup.

daniels27 said:
daniels27 said:
Otherwise, BVI, Seychelles, St. Vincent and the Grenadines are among the cheapest ones.
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I will have to look into these, thanks. What about Belize?

daniels27 said:
daniels27 said:
The substance requirements only apply for certain business cases, not sure if you are among those. The relevant activities are: banking business, distribution and service centre business, financing and leasing business, fund management business, headquartering business, pure equity holding body, insurance business, intellectual property business, shipping business.
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Definitely not my business case. What I do goes into the direction of marketing and consulting services for the adult industry.

daniels27 said:
daniels27 said:
And what do you actually need it for? Just for the address and name?
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Swiss association is not an option. As I wrote, I need it for: privacy protection, domain registry, legal disclaimers on websites and contracts with clients. I want to avoid using my personal name for these purposes to minimise personal liability and my privacy.
 
Eintagsfliege said:
Eintagsfliege said:
I will have to look into these, thanks. What about Belize?
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Also fairly cheap. What is your budget?

Eintagsfliege said:
Eintagsfliege said:
Swiss association is not an option. As I wrote, I need it for: privacy protection, domain registry, legal disclaimers on websites and contracts with clients. I want to avoid using my personal name for these purposes to minimise personal liability and my privacy.
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It could work, you have a name you can put on websites and domains. If the clients are low guys, it would work, but I would not recommend.
 
US LLCs aren't suitable for this specific business project due to the nature of my business (its legal but in some states it may fall into "grey" area). I'm also not keen on revealing my full identity under the new CTA rules.
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Are you completely sure about that? What kind of business?
A crypto-only non-resident US LLC would really be the best in terms of costs, management and simplicity in my opinion.

The informations will not be made public in any case.
 
MarkusCostigan said:
MarkusCostigan said:
Are you completely sure about that? What kind of business?
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He wrote it three posts below: marketing and consulting services for the adult industry

MarkusCostigan said:
MarkusCostigan said:
A crypto-only non-resident US LLC would really be the best in terms of costs, management and simplicity in my opinion.
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Yes, US LLC would be best, but if he does not like it, what shall we say?
 
Hey guys, yes I agree us llc would be easiest and cheapest, but for this project i want to avoid it. As I said, its a legal business but might be considered grey area in some states and I need to protect myself from possible legal troubles by parasite legal firms that regulary try to squeeze out money for settle the case and threaten to sue (based on almost no grounds but I just cant waste my time for that bs). There is basically zero chance they will go after an offshore company, and even if they did I wouldn't care much.

daniels27 said:
daniels27 said:
Also fairly cheap. What is your budget?
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Im not having a specific budget here, just gonna go with the price for the cheapest and best suited option.
 
MarkusCostigan said:
MarkusCostigan said:
Are you completely sure about that? What kind of business?
A crypto-only non-resident US LLC would really be the best in terms of costs, management and simplicity in my opinion.

The informations will not be made public in any case.
Click to expand...
Click to expand...
well crypto and us is somewhat a weird topic plus even without bank accounts, you need to file the irs forms which are also not ideal.
Plus the best states there for LLCs might be somewhat anti-adult industry.
 
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