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INFORMATION: BUSINESS, TAXATION AND INVESTMENT
I'd like to be able to direct about $700K a month to HSBC in an offshore account and then block the funds for different investments, letting the profits accumulate at low tax till I bring the funds into the US. I am told that no matter where I place it I'll have to deal with the close to 50% tax here in the US. I've been thinking of the Bahamas- any top 25 world bank would be OK, any suggestions?
I have a question regarding Seychelles. I am a contractor and live in the UK and have setup an offshore IBC in Seychelles. I work across Europe (France, Netherlands and UK) and the company that has hired me in Paris told me that because my company is in the Seychelles and as France does not have a tax treaty with Seychelles they need to withhold 33% tax as that is the law. This basically means that I only get 66% out of 100%. Does this apply to all countries that do not have tax treaties with Seychelles? If that is the case, Seychelles will not be an interesting country as an offshore country. Does any off you have a better structure to minimize tax paid? Any feedback highly appreciated. NT
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.
can anyone recommend an investment co in singapore or hong kong that caters for persons of low to medium wealth as I should like to invest modestly in China and have someone manage a small portfolio small investor
Apart from the normal interest on loans, royalties, management, consulting and service fees, are there any other transactions between companies within a multinational group (related party transactions) that are deemed to attract WHT in Botswana? KG
I would be grateful for any practical hints whether EU Member States apply EU Directives eg Parent Subsidiary and or Royalties and Interests Directives to the transfers between the companies A established in MS and company B estblished in Gibraltar.
In Poland the administrative court has recently stated that EU Directives do not apply to the companies established in Gibraltar.
I am aware of the standpoint presented by EU Commission but it did not convienced Polish authorities.
I have been running a sucessful newly-formed web design company. I currently employ less than 10 employees, and am looking to set up a second office, potentially offshore.
I am looking for a cost-effective offshoring solution from an office, based possibly in Jersey, Guernsey, Alderney or the Isle of Man, while maintaining part of my operations in the UK as this is currently where our Headquarters is currently situated.
Please note: due to the need to be in the proximity of England I could not consider lowtax jurisdictions such as Cyprus, Dubai etc. for establishing operations. (While I want to minimize the company’s tax bill, this is a secondary goal, with the primary goal to be able to target Guernsey and in particular Jersey for additional work.)
Our taxable supplies: In our current format we provide comprehensive e-commerce website solutions to companies worldwide. We receive one-off payments, and then retainers from the companies on a monthly basis to pay for the upkeep of the site(s).
A solution for us therefore would preferably minimize tax paid on the supply of our service to clients, whilst taking into account the fact that the creation of the websites would still (in part) be carried out from our UK offices. Is this possible?
Also, in respect of my individual tax bill, as the sole director of my unlimited liability company, how difficult would it be to set up an arrangement wherein I could pay Jersey, Guernsey or [third country’s] individual income tax rates in respect of profits made in the day-to-day running of the company. I am tax-resident in the UK, and it would be difficult for me to stay offshore for extended periods (to gain offshore tax residency)
I will be checking back regularly so should you need any further information please ask,
Hello, I have been advised that an off-shore (Cayman) hedge fund should better have an off-shore hosting service for its website. I was thinking then of contacting some swiss hosting company. Does anybody knows if there is any swiss law which could be an ostacle to have the website of an off-shore professional hedge fund hosted by a swiss based provider?
We buy and Sell Precious Metals and are looking for an effective Structure
We had thought of setting up an individual Offshore Company (IBC or otherwise)in an Offshore Jurisdiction (please advise what you think is best) which doesn't trade. This Offshore Company would have 'nominee agent' agreements with seperate limited companies in each of its trading centres eg UK France Germany Ireland USA Australia. These 'nominee agents' act as Management Companies in each country for all bullion sales and trading on behalf of the Offshore Company, they charge a fee for this service to the Offshore Company of between 5-10% of turnover of the Offshore Companies Trading Revenue.The other 95-100% is remitted back to the Offshore Companies Bank Account weekly as its revenue after deducting the Management Fees.
1) What sort of Company and Where? 2) The trading is generally all online, servers in Luxembourg? 3) The trading is Global? 4) Are Luxembourg, Malta, Monaco or Madeira suitable? been told that Luxemborg has a new entity an SFC or something which can hold assets inc precious metals but like all the other jurisdictions too 5) Been told Netherland Antilles good as a new base for servers? 6) Should the Offshore Company stand alone or hold all the equity in the 'nominee agent' companies or should they themselves also be stand alone? 7) Bullion is shipped from Mints and other Dealers to us for security and we distribute but we'd like to have it sent direct to one location (Secure Freeport facility and distribute worldwide from there to save VAT, so the bullion would be shipped from mints and other bullion dealers worldwide to us at one vault facility where we'd ditribute it globally but avoid VAT. The VAT is a problem because eg Silver is VATABLE in UK but not Gold Coins and that makes UK Silver prices higher than US...a market disadvantage. 7) The owners currently reside UK but would move to Monaco for domicile purposes...eg UK & Travelling Tues-Thursday then Monaco Fri Sat Sun 8) Just looking for a lawful, honest but tax efficient and asset protected way of trading. 9)Assuming framework of above is set up...the owners then want to protect themselves and remain anonymous after transfer of their interests in above Offshore Company and have their shareholdings held by anonymous nominees or open if their domicile is low tax eg Monaco. 10)The Offshore Company will be used as a vehicle to buy assets, property, bullion and precious metals
Can anybody suggest a way forward as we're totally confused by conflicting advice.. implementing strategy with next 3 months so just sounding out to see who know whats best? Obviously August will be the month we contact chosen advisors and move forward on this
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
My wife and I have sold everything we own in the US. We now own a sail boat which is currently our home and only mode of transportation as we cruise the Caribbean. We also have a nice chunk of investment capital that has already been taxed by the mongers that we all despise. Now it's time to start a new company and begin investing in markets that have a future. We're mainly interested in Central America and South America.
My main question at this point, is how to minimize our tax exposure, I understand that foreign income has to be reported but that we as a married couple filling jointly are exempt up to $180k or so as long as we are not living in the US. I have heard conflicting statements regarding the rules however, can someone clarify the current rule regarding foreign income exemption?
And, can someone clarify the Hosing deduction rule and if our boat could enter into the equation for a deduction of some kind?
We are getting close to setting up our IBC and offshore bank for a web/real estate related business that will for the most part be operated from our boat.
Thanks for any help and advice, there are so many difficult decisions to make!!
Suppose, X is a German company doing financial leasing business, and Y is a company in US, who are paying X for the financial leasing of equipment on a regular basis.
Now X wants to know, whether such payment should be subject to US withholding tax? If yes, should Y be the withholding agent? How much is the tax rate?
I would like to set up a limited company with one member/ director that is corporate and where the name of the new company has no suffix eg 'Tony Hunter'.
I intend to use this for consultancy.
Does anyone know where I can register such a company and hopefully for a minimal set up cost and annual fee ?
Hello, until 2005 Euromoney used to organize an Annual Offshore Financial Services Summit in London. It was a very interesting place to gather with other people from the offshore industry... Anyone knows of any similar event specially useful for networking??
In interested in setting up a Wealth Management company in Hk or Singapour, fully supervised and regulated by the local Central Bank or Monetary Authorities. Does anybody know any relevant service provider? I work in offshore industry, so please abstain from publicitary replies from other jurisdiction (thanks!) Oscar
We are a non-profit looking to have a gambling site using a form of betting that isn't presently seen (very long odds). We need a corporate entity in a jurisdiction that permits online betting. (We have 2 domains to use for it, and also need to know what nations we can use for hosting our web-based enterprise, apparently the USA cannot be used). The betting will not be in cash, however the prizes will be. The bettors put up donated items for sale on an auction and storefront site, and when the items sell some percentage of the proceeds can be applied to etokens they can use to bet with (so should meet all or most of the restrictions created by some nations which do not permit online betting).
There will be no profits to tax. All the net proceeds will be applied to international non-profit efforts and projects. The banking can be in a different jurisdiction (which has online access to it from Canada). The betting will continue into the future to pay for various international projects we have created. Our provincial government is unable to meet our needs, either from the standpoint of online betting or the amounts we aim to raise, or the form of betting we aim to use (applied on a modified pool type).
Can a permanent establishment deduct general and administrative costs both in its country to arrive at its taxable profits (as well as the "head office" also deducting the costs in its country?) CNP
If domiciled and liable to pay income tax in the UK, is tax on interest earned in an offshore account due during the time it is held in the account, or only when the money is debited from the account and brought into the UK?
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