I see most of the companies are going offshore either to hide their assets or to hide their identity. I am looking into opening offshore company to do old fashioned trading and not sure how good that would be with offshore company. As a general trader I would source and sell items from all over the world. Europe and Middle East would be my target market. Items would range from spare parts, office supplies to consulting services etc. I would buy from supplier (for example in France) and get items sold in UAE, shipping with freight forwarder (just a random example). I would pay directly to supplier and items would be shipped directly to buyer. I don't want to register company in my own country because procedures for registering company are highly expensive and requirements are simply ridiculous. Need to have two employees, officess, there is regular audit, tax etc. As all my business would be of this nature (international trading of physical items) is offshore company good solution for me and which type would be the best? I don't need to be anonymous, just need legal company to work with and that will not cost me fortune to run. If I put my name on the company (don't plan to take nominee director) do I have to pay taxes in my country? Do I have to register any employee (to pay for medical insurance, retirement fund, social insurance etc.) because this is exactly what I am trying to avoid? After registering company for one year is there any other hidden costs that needs to be paid during the year? Any advice?
Which offshore company is best choice for traditional trading of physical goods
- Thread starter Gluepower
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Sorry if I missed this part but where are you actually a citizens from?
For the mentioned purpose a BVI, Belize or Seychelles company would do it perfectly fine, all of these jurisdictions (as you already may know) don't require any audit, fiscal reports nor the company has to pay any tax. In most countries you will at least be subject to pay tax from money you take out of the company. Some countries like the USA and some European countries will even tax you from world income.
The questions are:
What will your customers say to be invoiced by a company from one of the above mentioned offshore jurisdictions?
Where are your customers from i.e. mainly from Europe, UAE, Asia etc.?
What is the turnover the company will produce on a 12 months period?
Will you receive parcels on the offshore companies address?
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For the mentioned purpose a BVI, Belize or Seychelles company would do it perfectly fine, all of these jurisdictions (as you already may know) don't require any audit, fiscal reports nor the company has to pay any tax. In most countries you will at least be subject to pay tax from money you take out of the company. Some countries like the USA and some European countries will even tax you from world income.
The questions are:
What will your customers say to be invoiced by a company from one of the above mentioned offshore jurisdictions?
Where are your customers from i.e. mainly from Europe, UAE, Asia etc.?
What is the turnover the company will produce on a 12 months period?
Will you receive parcels on the offshore companies address?
Normally this is not needed for offshore companies, so it is not for the above mentioned offshore jurisdictions.
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Thank you for quick reply.
1. ....where are you actually a citizens from? ..... Bosnia
2. What will your customers say to be invoiced by a company from one of the above mentioned offshore jurisdictions?
I honestly don't know. I worked similar job with one company before but it was not offshore. Any suggestions from previous companies you helped register before? Would it add to credibility for first time customers if I register on Cyprus?
3.Where are your customers from i.e. mainly from Europe, UAE, Asia etc.?
It would be mainly from Middle east, second market would be Europe. I would mostly serve projects in remote areas so it may include South Africa, Australija etc.
4.What is the turnover the company will produce on a 12 months period?
Not sure for this as I didnt started yet, but I do hope for at least 10k USD profit per year to keep me in business. that would be about 100k or more worth of physical goods transfered. Cannot know for sure until I try.
5. Will you receive parcels on the offshore companies address? Dont plan to. For receiving of parcels I would rent space and services from onshore company if need arrises.
Any advice to get me on the right track is welcomed 🙂 )
1. ....where are you actually a citizens from? ..... Bosnia
2. What will your customers say to be invoiced by a company from one of the above mentioned offshore jurisdictions?
I honestly don't know. I worked similar job with one company before but it was not offshore. Any suggestions from previous companies you helped register before? Would it add to credibility for first time customers if I register on Cyprus?
3.Where are your customers from i.e. mainly from Europe, UAE, Asia etc.?
It would be mainly from Middle east, second market would be Europe. I would mostly serve projects in remote areas so it may include South Africa, Australija etc.
4.What is the turnover the company will produce on a 12 months period?
Not sure for this as I didnt started yet, but I do hope for at least 10k USD profit per year to keep me in business. that would be about 100k or more worth of physical goods transfered. Cannot know for sure until I try.
5. Will you receive parcels on the offshore companies address? Dont plan to. For receiving of parcels I would rent space and services from onshore company if need arrises.
Any advice to get me on the right track is welcomed 🙂 )
It depends very much on your target customers. Generally speaking, many don't care at all, most often if it is a Internet based business most customers don't read the invoice at all. If you send invoices to companies around Europe and you give your customers say 7 days to pay the invoice then they will look more carefully on who they deal with and maybe they will ask questions to a Seychelles, Belize or BVI company but not to a Cyprus company since the latter is part of Europe and not unusual to trade with.
For Africa, Australia etc. I wouldn't doubt to invoice my customers from a Seychelles IBC at all.
You can start with a Seychelles IBC, it is very cheap to incorporate, so you can grow your business and later if at all required, incorporate a Cyprus company.
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If I incorporate company in Seychelles and take bank account in Cyprus how would customers even know that company is registered in Seychelles?
They would contact me to virtual office in Switzerland, and pay to bank in Cyprus.
My question is, how would they even know that company is registered in Seychelles (to ask questions about credibility)? Would this combination work out?
They would contact me to virtual office in Switzerland, and pay to bank in Cyprus.
My question is, how would they even know that company is registered in Seychelles (to ask questions about credibility)? Would this combination work out?
They will only know if they ask you ot know you, otherwise they will not know it. Seems pretty clear to me, that's the reason for why I just ordered one to see if it works like this.Gluepower said:
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Winners never quit and quitters never win....
Nothing is the best, but from the offshore jurisdiction that are available the Seychelles provides a great basic level of privacy and protection of beneficial owner information.castro said:
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It is not possible to "lookup" beneficial owners of a Seychelles company anywhere. There is no public company registrar in the Seychelles! It's actually the beauty of this offshore jurisdiction if you ask me.Joe said:
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