The absolute best country to Incorporate

[Alex4Days]

Whats the best country for incorporating a non-physical business? Software as service with no employees(only freelancers).

Just to have bank account or EMI, payment processor and maybe paypal account.

Where would it be cheapest to incorporate and with least amount of headache?

 

[happyjohn]

Well, PayPal will bring you headache anyway! So avoid PP and use Strip so you want to use a Cyprus company with nominees and banking with some sort of EMI like Mister Tango, LeuPay or similar service. Not cheap but it works, register it non resident (f**k you guys that say this is not legal I give a damn s... for 9 years now) so you avoid to pay taxes in Cyprus and you don't have to charge VAT! all in all a good and easy to go solution.

If you find the right agent then even accounting, filing of tax reports and the money you take out of the company is painless.

Other suggestions are welcome, let's see where this is going and how much rocket science will pull up here 😉

 

[Martin Everson]

Get your Estonia E-residency. Setup an Estonia company with leapin.eu and a Transferwise borderless business account. Total cost under 1000 euros for 1st year costs. All can be done online.

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

 

[negon]

So check this thread about estonian e-residency for Estonia e-residency - is a good read 😉

 

[invisibleguest]

auric said:
So check this thread about estonian e-residency for Estonia e-residency - is a good read 😉
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auric I need your services, but I can't PM you, please send me a PM!

 

[handsomezlatan]

Alex4Days said:
Whats the best country for incorporating a non-physical business? Software as service with no employees(only freelancers).

Just to have bank account or EMI, payment processor and maybe paypal account.

Where would it be cheapest to incorporate and with least amount of headache?
Click to expand...

Can you tell me wich service you used ?

 

[proples]

Martin Everson said:
Get your Estonia E-residency. Setup an Estonia company with leapin.eu and a Transferwise borderless business account. Total cost under 1000 euros for 1st year costs. All can be done online.
Click to expand...

Isn't Estonia high in company taxation?

 

[JohnLocke]

proples said:
Isn't Estonia high in company taxation?
Click to expand...

This is a good website to read about taxes to be paid Taxation | e-Residency personally I find it difficult to figure out what exactly you have to pay and when it is applicable to pay taxes there!

If you go for the e-resident program you may be required to consult a professional that know exactly what this all is about and what traps you may avoid.

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[Martin Everson]

Admin said:
This is a good website to read about taxes to be paid Taxation | e-Residency personally I find it difficult to figure out what exactly you have to pay and when it is applicable to pay taxes there!

If you go for the e-resident program you may be required to consult a professional that know exactly what this all is about and what traps you may avoid.
Click to expand...

Basically you don't have to ever pay any taxes if you elect not to distribute profits of the company. You are not taxed on profits only money that is distributed.thu&¤#

Problems with Estonia now is the local banks are all closing E-resident company accounts in huge numbers. Without a local account you cannot pay a dividend so unless Estonia changes its laws to allow foreign accounts to pay out dividends the program is under threat.

E-Residency program under threat as banks closing foreigners' bank accounts

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[JohnLocke]

So it makes no sense to option for the e-residency if I understand it all correct?

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[Martin Everson]

proples said:
Isn't Estonia high in company taxation?
Click to expand...

Admin said:
So it makes no sense to option for the e-residency if I understand it all correct?
Click to expand...

Actually the opposite. You see while you can't pay out a dividend you can pay yourself a board member salary that is taxed at 20%. In my case an Estonia company allows me to compound my investment income in tax free environment and elect when I pay my 20% tax which is............never or retirement.😀

Basically if you are not too concerned about paying dividends or paying out a salary it is a 100% tax free structure. Just it won't work for people who need to take money out to live which is 99% of company owners. You then have to pay the 20% tax.

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[Martin Everson]

proples said:
Isn't Estonia high in company taxation?
Click to expand...

I answered above. Missed this post.

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[myhand]

Who say what is the best country to incorporate your offshore company if I may ask? how would you say country A is better than B if you have nothing to compare to and if people's needs are different.

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[happyjohn]

Martin Everson said:
Get your Estonia E-residency. Setup an Estonia company with leapin.eu and a Transferwise borderless business account. Total cost under 1000 euros for 1st year costs. All can be done online.
Click to expand...

You are sure about this?

 

[Martin Everson]

happyjohn said:
You are sure about this?
Click to expand...

Yes. The costing below assumes no first year income. I was 25 bucks of but whose counting 😉.

100 euro E-residency Card
leapin 49eur x 12 + 20% vat
Company Setup 190 + 25(+ 20% vat)

Total : 1025.60 euro

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[happyjohn]

Okay great so we can open Crypto business there for €1K ? + license costs!

 

[Martin Everson]

happyjohn said:
Okay great so we can open Crypto business there for €1K ? + license costs!
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I don't think leapin.eu accept crypto clients as they are very specific about business types they accept. However you can ask other providers.

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

 

[doingitright]

The problem with LeapIN is exactly that they're very specific. E.g. they accept only 1 shareholder and 1 direction of the company. And that information is a public record which makes it very difficult to fight a possible ruling that your Estonian company isn't actually a tax residence of your personal tax residency country if said country ever challenges that...

E.g. John Doe is a UK resident and opens an Estonian company through LeapIN. He's the only person visible ( via public records ) in relation to the company and the HMRC can say "Nope, your company is a local tax resident, you owe us back taxes".

 

[happyjohn]

okay, so it seems not an option for crypto biz.

 

[Martin Everson]

happyjohn said:
okay, so it seems not an option for crypto biz.
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Yes leapin is not an option for crypto business. You may want to try a company like the below perhaps.

Starting cryptocurrency company in Estonia

p.s I have no experience with them.

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