Offshore company question

[FarFarAway]

First of all sorry on my bad English, I hopes that you will understand me.


I have a few questions about offshore companies ( mainly on Seychelles )


1) I dont need to have real office, I can pay for services of "virtual" office?


2) I can "employ" nominee director that will represent company without exposing name of real company owner?


3) Bookkeeping?


And most interesting questions


4) If income tax in domicile country is too high, can I export some goods ( products that I am making ) on Seychelles and from Seychelles sell ( export ) in 3rd countries?


5) There is no income tax on money that I earned on Seychelles if I as a non resident citizen Import one product ( on Seychelles ) and export it ( from Seychelles ) ?

Last edited by a moderator: Apr 21, 2014

 

[biskoffshore]

Well it seems what you are looking for is a Belize, Seychelles or BVI company‌ with nominee director and virtual office service. In all 3 offshore countries you don't have‍ to do any bookkeeping, your privacy is protected and you don't pay any tax.

 

[FarFarAway]

And what if Im Importing goods in Seychelles for further Exporting, do I pay taxes‌ on customs or ANY other tax? Example:

One product is is manufactured in Russia and‍ it wil be sold in EU. In Russia Income tax is to high. Plan is⁠ to sell product in Seychelles company and from Seychelles to EU, so all income stay⁤ in Seychelles untaxed. Can you point me somehow in that?

Sample:

Product is made in⁣ Russia for 10 EUR

I Import to Seychelles for 11 EUR

And from Seychelles to⁢ EU ( or any other country) for 40 EUR ( example only)...

 

[JohnLocke]

For most offshore jurisdictions i.e. Seychelles, Belize, Panama, BVI and so on the same apply.‌ No business locally if you want to avoid corporate tax. The same goes for ofcourse‍ when you import products to the offshore jurisdiction then the profits have to be taxed.⁠

 

[FarFarAway]

But if im importing for further export? If I incorporate company on Seychelles I must‌ have bank account in other offshore country?

There is no need to do bookkeeping and‍ accounting? Can someone ask me how did you earn 100k Eur (just example) ? What⁠ is considered locally? How inspections and government look at that way of business?

 

[biskoffshore]

I read this http://www.src.gov.sc/pages/customs/importandexport.aspx and it seems it may answer your tax questions. It was‌ at least good reading for me. Thank you for touch point the topic.

 

[FarFarAway]

So what is then practical use of offshore companies, can someone give me example, please?‌ My company can issue bills for specified goods? How it is used to reduce taxes?‍ Can my company issue bill for goods that dont exist, and all of that without⁠ lot of questions? Can someone explain me THIS scheme, please?

 

[biskoffshore]

Most using the offshore company for their Internet business to protect their privacy, safe tax‌ (means don't pay tax) and asset protection purpose. It is a very complicated and expensive‍ process for creditors and lenders to gain access to an offshore company and the bank⁠ accounts the company may have. The same goes for tax authorities.

Best is, your privacy⁤ is almost 100% protected towards your customers and other curious people.

 

[FarFarAway]

Is it possible that offshore company issue bill for delivered services to company in Austria‌ or any other country?

 

[buzzoffshore]

Yes, you can invoice any company (offshore or‍ onshore) as you like. It's actually a good point you have there, we are doing⁠ something similar just with a company in Spain and UK.

 

[JohnLocke]

You will need to structure things a little but other than that it is possible‌ to invoice any company worldwide on behalf of the offshore company, exactly as you can‍ do from a regular onshore company.

 

[protain]

I had almost the same questions as you while I started︂ looking into all this for about 4 months ago or so. The fact is that︃ I today have a few offshore companies thanks to the great help I got from︄ the forum and other sources and I'm more than pleased to say that everything is︅ working as I expected it to do. Even I'm surprised about how incredible easy things︆ are to manage. The Privacy level is great and much better than what I had︇ expected compared to an onshore company.

 

[poulaCo]

This is a great thread and has beeb helpful for me as well as many‌ others it seems. The problem is to understand the security issue by appointing a nominee‍ director or shareholder I think! Since most (including me) think they have 100% control of⁠ the company and have access to the moneys at the bank account of the offshore⁤ company.

 

[megamath]

If you conduct business from within the Seychelles all profits are︂ taxed at a very low rate!! You will need to conduct business abroad from the︃ Seychelles to avoid tax. However, it's that low so it should not hurt you at︄ all! Otherwise move to the UK and do business from a offshore company this would︅ terminate all tax both personal and corporate tax!

 

[Spinat]

It's the same way it works for all other offshore jurisdictions fyi!