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Hi, I have the the qestion regarding online poker. Individual who is tax resident in eastern europe country plays online poker and quite good at it. The winnings are transferred now into his bank account that is opened in the country of residence. Although the tax rate is not really high, there may be problems with reporting this proceeds to the tax authorities. Could you please share your experience. Is it feasible to collect all proceeds on bank account outside country of residence free of tax and use debit card or online banking then. I believe that these arrangements should be common, isn’t it? If it is feasible, what is the right place to open and maintain such bank account? Any other solution that is worth of considering? Thank you!
I'm from the EU, and would like to open a company (either inside or outside the EU) that would allow me not to pay VAT when buying Internet services from the EU (typically from Germany). It would also provide me with a more professional name to hold all my domains and Internet services, and help me keep my home address private.
Can anyone suggest a good service that will take care of this? Cheapest meaning it shouldn't be too expensive to open AND maintain, as I won't really be trading anyway (using services for my own benefit at the moment, so I also don't need bank accounts etc. for the company)... Anto
Hi, I am interested to have my own company in Andorra, in order to continue my business there and maybe to move there. Now I am working like sales agency in Romania for the foreign producers. What I must do in this case and also to have the Andorian citizenship? Thanks,
A Danish video production company (adult entertainment) is looking to move/outsource certain business functions to a low cost/low tax location.
Any suggestions from people with experience in outsourcing of activities, effective balance sheet management techniques, and redeployment of cash flows will be appreciated.
Please, keep in mind that this is more than just about taxes, and that given the nature of the business, a number of locations/banks may not be considered as an option even as an exercise in eccentricity.
I am a UK resident but was born in Malawi. I moved to the UK when I was a kid.
I am director of a UK registered Limited Company and also a Company based in the UAE free trade zone. Both companies trade internationally. We buy from one country and sell to another. Never does the product land in the UK or UAE. None of our clients or customers are based in the UK or UAE. Realistically, we could use any company structure in any jurisdiction to run this business.
Ideally, I would like to remain living in the UK but do not really like the idea of paying UK corporation tax or UK income tax. I have looked at having an IBC in BVI / UAE / Mauritius / Seychelles etc etc and using nominee shareholders and directors.
However, whichever way I look at it, it seems that I am unable to find a legitimate scheme (according to UK tax law) that allows me to live in the UK and continue my business without always being worried that there is some small chance that the UK authorities may investigate me.
There must be a totally legal way of trading internationally whilst living in the UK without being taxed by the UK authorities? There must be a country with a low or zero tax rate that has some sort of double taxation agreement with the UK or where the UK exempts the foreign structure from tax liability in the UK (as per the Foreign Controlled Companies rules).
for a consulting company getting fees of distribution and advisory how far can this 10 % be lowered? in other terms, how far can we use the interest paid to the parent offshore company (re any eventual thin capitalisation rule)? how far can people deduct consulting fee to offshore companies (not the shareholders) to the Cyprus company to lower taxable profit to nil-1/2%. How is the practice?
I am a UK resident and I want to setup a company that manufactures physical goods in Korea and sells/distributes them in Western and Eastern Europe and North America. The turnover would be in usd 1-2m region annually with profit at ~40%. Can this type of activity be classified as e-commerce (if we setup website)? What is the best place to setup such a company as well as offshore bank account for the partners so that the dividend is not repatriated to the UK. Kristina
Are there any taxes or tax implications on Australian residents that own and run a Hong Kong registered company and office?
1. If the only income the Australian resident earns is through the hong kong company 2. if the income earned from the hong kong company is not derived from Australia 3. the Australian resident spends 5 months or more of the year in hong kong
At the moment I am doing business with a few small businesses on the Bahamas. How is it possible to get a list of other businesses for the Bahamas so that I couls contact them? Daya
What is the best solution for a Romania based company with 2 associates: 1 romanian and 1 french. The activity of the company is worldwide and we are looking for an optim financial solution to simplify the tax system of our company. The activity of the company is management and consulting services.
I am French resident living in france (I can change if NECESSARY), I got business in some countries in africa : wood, gold,...and its time for me to creta a company ,I would to know what would the best case for my business in terms of low taxes,banking,... and my personal income too ! please it is urgent to get answer and meet someone who can set up all my administration... Ralph
Hi, I am struggling to identify the ideal place to form an offshore company. I am a UK citizen but have not lived in the UK 5+ years & am currently living in SE Asia. The business will buy products from a Japanese company & onsell into UK, EU & the rest for the world, perhaps through new co's formed in each country.
I wish the Corp profits to be offshore and as I have no permanent place of residence as such any payments to me to take place in an environment where there are little or very income taxes but satisfy tax law requirements.
Is there a country in Europe I can have tax residancy with low taxes (without having to spend the majority of time there) that will allow me to spend more than 90 days per annum in UK? I read about Bulgaria but is Switzerland an option?
Hi im looking to incorporate offshore for the following setup:
I am a UK citizen, currently living/domicled full time in the Netherlands (currently paying PAYE income tax in Holland from full time employment).
I want to set up up XYZ limited offshore (open to all suggestions). Which will operate a financial derivative trading (investment) account with one of the large futures trading companies in London. The trades can be physically done from anywhere in the world.
Individual A invests/lends funds to XYZ limited which then deposits the money with a marketmaker/broker in the name of XZY limited. XYZ then invests the money in various automated investment trading strategies. If the company successfully makes a profit, then funds are transferred from the trading account back to the offshore company. The funds can then be transferred back to Individual A (which will then be responsible for his/her own tax liabilities) and commissions/management fees will be built up offshore in the bank account of XYZ limited. Is there anyone that is familiar with this kind of set-up or can reccomend a more optimal way of doing this?
Requirements I have:
Zero tax offshore liabilities. No annual reports / records required. Cost effective i.e. relative to other jurisdictions Privacy / no personal records kept on file. minimal annual fees / maintenence. confidential / privacy fast setup
Bank account requirements: With large respectable bank - safety of deposits. online banking - easy wire transfers in/out of the account ATM / debit / credit cards linked to account - large withdrawel limits. Physical withdrawel of large amounts of cash direct from bank account (if so required). Fully English speaking service - with absoloutly no doubt of safety of deposited funds.
Willing to set up anywhere in the world that best suits my need.
Anyone that can help/advice would be much appreciated. Please contact me with email/contact details and ill be in touch.
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