Which EU country is best for offshore company formation?

[yellowneck]

Hiya Everyone,

I'm hoping someone with much more know-how than me can make some suggestions to solve my problem.

I'm a UK citizen, tax resident in South America. The tax situation here is fab so no problems there. My only problem is that I need a business banking account that accepts USA ACH transfers (like Wise does) and I can't open one from Ecuador.

So I'm thinking about opening an offshore company so I can get a business account. I realise that a USA LLC pass through entity would work, but to be honest, the IRS seems terrifying. So I'm thinking a European option would be good. Because I already pay tax here, I'd like the lowest tax possible, easy set up etc. Any ideas?

Thanks so much in advance people 🙂

 

[Jerry1911]

Yes, UK LLP

 

[Martin Everson]

You checked if ItalBank cannot help you here? Otherwise you can look at PaxumBank.

 

[yellowneck]

But I'm British. So I'd be taxed‌ 19% no?

Hiya, yes I tried ItalBank but they⁠ can't help with ACH transfers which seems to be the sticking point. I could accept⁤ wires but that's costly. I'll check out PaxumBank. Thanks so much!

 

[Sols]

The far and above most popular are‍ Malta and Cyprus. In Malta, you're looking at an effective corporate tax rate of 5%⁠ and in Cyprus 12.50%. If you can demonstrate that a company incorporated in Cyprus is⁤ in fact managed from Ecuador, you could qualify for 0% in Cyprus and only pay⁣ Ecuadorian tax (without having to worry about tax treaty or double taxation of the company).⁢

Corporate taxation is not based on citizenship of the owners. But a private limited company would︀ be taxable as UK resident (unless treaty non-resident).

An LLP , the proposed entity ,︁ is a tax transparent entity which requires a minimum of two members and does not︂ incur any corporate tax in the UK. Instead, its members are taxed on personal income.︃ If you are non-resident, you are not in scope for any UK taxation generally speaking.︄

 

[CyprusLawyer101]

Hello, if you are interested for a free phone consultation on your queries, kindly︃ let me know and I can PM you to set it up.

 

[blizz]

Cyprus, Malta, Romania and Switzerland are very popular destinations.

 

[icecold]

It all depends on what you are really going to use the company for and‌ what else you want to have under the company. For instant, if you want to‍ lease a car it would not work with a Belize company!