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LOWTAX
OFFSHORE
Seychelles? HK? Where should I offshore my consultancy for my international client work?
I have a LLC set up in Wyoming that I (and two other equal partners) run all of our marketing advisory and international expansion consulting work through. We originally intended to help small, but highly ambitious American companies expand overseas either through JVs or simply new distributors/promoters. Recently, we've found ourselves get more and more business bringing foreign companies and brands from overseas back to the US. We are beginning to get paid in RMB, HKD, CHF, GBP, JPY, and EUR as much as we are paid USD. We're wanting to focus more and more on higher-paying (and more exotic) overseas clients.
Any suggestions, insights, or gut feelings (with reasoning) on setting up an IBC to serve our legitimate non-US billable business?
Again, we do a lot of work in China, HK, and Europe. We're wondering if Seychelles is really that easy and inexpensive to set up and ultra-efficient in the long term or if we're going to create more headaches than it's worth.
Ultimately any IBC we set up will be owned by (three) American citizens (we have no objections to paying taxes on any eventual payouts), but would appreciate the opportunity to be more tax efficient if we can legally route more of our legitimate expenses associated handling international clients to an offshore entity.
What issues should I consider? I figure the community has been in my exact situation many times before. Any collective wisdom? A diversity in opinion/experiences is appreciated, as well.
REPLY:
Hi YL Why not visit our site (www.companyservicesdirect.com) to see the various jurisdictions we incorporate companies in and contact us for more information. Ryan
REPLY:
Hi Yvon,
Why not considering Mauritius? It's a nice jurisdiction to set up an entity, and with the GBC or GBC2, you have the choice between an offshore or onshore entity. GBC2 is similar to a pure offshore entity, and GBC1 is an onshore entity with only 3% of taxes. If you need more information, please do not hesitate to ask. We can assist you on this matter, as we have our own office in Mauritius. Sebastien
REPLY:
May I suggest you come to Malta. You pay 35% Tax, get 30% back, makes 5% net. You can if you wish conceal your identity to third parties, either by establishing a foundation or a regulated bare trust. The big advantage would be that you would operate from a European Country, not a tax heaven. You would have a European VAT Nr. , a European Headquarter. You can receive any currency here. Our banks are rock solid.
www.eu-hub.com info@eu-hub.com skype: euhubmalta Eu-Hub Malta Limited A Hilton
REPLY:
Depends where you are based and your nationality - if you a US citizen - my advice is....don't do it. You'll almost certainly end up in a mess as there is a raft of US anti tax avoidance legislation - which is (literally) impossible to avoid - even if you are non US resident. Additionally in practice (if you are a US person) you will find it virtually impossible to establish a banking facility for your company in a respectible jurisdiction.
If you are non US it still depends on where you are resident and your nationality - as the anti avoidance rules vary from place to place. If you provide more detail, I will comment further.
www.middletonkatz.com Martin Katz, Chartered Secretary, Isle of Man
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