Sark resident best location for company registration... US LLC??

[Barney2201]

I am resident of Sark (no personal income tax), however in Sark there is no company register therefore I have to choose an alternative juristrication.

Considered the neighbouring island of Guernsey however Guernsey requires a permanent local director and is very slow to set up.

Any thoughts on my best solution?

Thinking US LLC (possibly Florida).

Need banking with credit card processing.

Main business is providing hospitality for sporting events (mainly Monaco F1)

 

[cheeseall]

Barney2201 said:
I am resident of Sark (no personal income tax), however in Sark there is no company register therefore I have to choose an alternative juristrication.

Considered the neighbouring island of Guernsey however Guernsey requires a permanent local director and is very slow to set up.

Any thoughts on my best solution?

Thinking US LLC (possibly Florida).

Need banking with credit card processing.

Main business is providing hospitality for sporting events (mainly Monaco F1)
Click to expand...

Hey there, have you tried this out yet? Also thinking of this setup but obv a lot of unknowns regarding banks, etc.
By the way, since you're already resident in Sark, what's the situation with TIN for Sark tax residents? Does one need to register somewhere in order to obtain one, or is the local tax office not issuing TINs at all?

Thank you in advance!

 

[JohnnyDoe]

I don't see any issue with using a US LLC

Toggle signature

@JohnnyDoe ”“ Your #1 Source for Guidance in Different Offshore Fields​

 

[FDS ADS]

Barney2201 said:
I am resident of Sark (no personal income tax), however in Sark there is no company register therefore I have to choose an alternative juristrication.

Considered the neighbouring island of Guernsey however Guernsey requires a permanent local director and is very slow to set up.

Any thoughts on my best solution?

Thinking US LLC (possibly Florida).

Need banking with credit card processing.

Main business is providing hospitality for sporting events (mainly Monaco F1)
Click to expand...

You can try Hong Kong.

 

[Barney2201]

cheeseall said:
Hey there, have you tried this out yet? Also thinking of this setup but obv a lot of unknowns regarding banks, etc.
By the way, since you're already resident in Sark, what's the situation with TIN for Sark tax residents? Does one need to register somewhere in order to obtain one, or is the local tax office not issuing TINs at all?

Thank you in advance!
Click to expand...

Yes, when you are resident of Sark you pay two types of tax. One is a property tax and one is called the forfeit, everyone pays property tax based on the sqm of their property, it's minimal, I rent a very small cottage as I'm not there much and my bill was around £600, in addition you either 'elect' to pay tax on your worldwide income (think there is a max limit of around £13K) or you pay the forfeit, the forfeit is a number calculated by timing the property tax by the forfeit ratio, think last year it was around 1.4. My total tax bill was around £1K. The tax return is 1 page and it's sent to your local address in January, when you submit you receive payment notification from the tax collector of Sark along with a digital copy which shows your TIN, hope that answers your questions...

 

[Jerry1911]

Barney2201 said:
Considered the neighbouring island of Guernsey however Guernsey requires a permanent local director and is very slow to set up.
Click to expand...

Directors of Guernsey companies can be non-residents of Guernsey.