Help: Registering Company Offshore?

11 replies
Hi Warriors,

I am in the process of rebranding my article writing business and creating an online system which will make things easier for my clients and my team. However, I am now considering registering it as a company offshore to make it legit - I imagine somewhere like the Seychelles.

Does anyone have any experience in this field who might be able to make a couple of suggestions?

Lastly, does anyone have any tips on trade marking a name internationally?

Any and all advice appreciated.

Regards,
Antony.
#company #offshore #registering
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    • Profile picture of the author AHayes183
      Originally Posted by penpal6 View Post

      You can Google it and find several brokers who can help you register your company of your company offshore.
      Hi,

      Of course, I was just wondering if anyone had any recommendations or suggestions?

      Thanks,
      Antony.
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      • Profile picture of the author securelogy
        It depends on why you are going offshore. if it is to protect your profit then you need a zero tax haven. However, if it is to grow your business and brand yourself online then Offshore company in exotic country might actually work against you.

        The other thing is, it depends on how much the business is making. anything under the 350,000 Euro Net may not be worth it to go offshore because with the right setup in some European countries you may only pay between 10-20% tax on your profit. You might want to take a look at the new European company formation which allows any company to be formed in any European countries.

        What you should have in mind is anytime your ever repatriate your money back to your country from offshore you would have to pay income tax on it. The only way to escape this is not to be officially resident in any country or move to a zero tax haven for an entire year and withdraw the money during that year.
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        • Profile picture of the author AHayes183
          Originally Posted by securelogy View Post

          It depends on why you are going offshore. if it is to protect your profit then you need a zero tax haven. However, if it is to grow your business and brand yourself online then Offshore company in exotic country might actually work against you.

          The other thing is, it depends on how much the business is making. anything under the 350,000 Euro Net may not be worth it to go offshore because with the right setup in some European countries you may only pay between 10-20% tax on your profit. You might want to take a look at the new European company formation which allows any company to be formed in any European countries.

          What you should have in mind is anytime your ever repatriate your money back to your country from offshore you would have to pay income tax on it. The only way to escape this is not to be officially resident in any country or move to a zero tax haven for an entire year and withdraw the money during that year.
          Hi,

          Thanks for getting back to me. I would be interested to learn more about what you mean by having it work against me as I build my brand?

          I am currently looking at the Seychelles as a possible tax haven, but will look more into what the new European Union laws are.

          I just figured I would be able to protect my company by registering it. Additionally, I was also hoping to add more of an authentic value but doing so. However, perhaps this is something I really don't need to do.

          Great advice though, thanks.
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          • Profile picture of the author DrewClement
            Originally Posted by AHayes183 View Post

            Hi,

            Thanks for getting back to me. I would be interested to learn more about what you mean by having it work against me as I build my brand?

            I am currently looking at the Seychelles as a possible tax haven, but will look more into what the new European Union laws are.

            I just figured I would be able to protect my company by registering it. Additionally, I was also hoping to add more of an authentic value but doing so. However, perhaps this is something I really don't need to do.

            Great advice though, thanks.

            If this has nothing to do with tax, and other relating factors...then you really arent going to benefit from incorporating offshore.

            You are better off just to set things up as a sole proprietorship in order to give you the legitamacy you want...and then when things are on the up and up you can roll that into an LLC.

            Easier, cheaper, and will offer the same benefits as incorporating will at this point.
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            • Profile picture of the author AHayes183
              Originally Posted by DrewClement View Post

              If this has nothing to do with tax, and other relating factors...then you really arent going to benefit from incorporating offshore.

              You are better off just to set things up as a sole proprietorship in order to give you the legitamacy you want...and then when things are on the up and up you can roll that into an LLC.

              Easier, cheaper, and will offer the same benefits as incorporating will at this point.
              I am currently living in Norway, but I am not a resident so tax is not an issue at the moment. However, if I registered the company over here then they would want up to 40%. In this regard, registering it abroad will certainly help.

              Thanks for the advice, I have a bit to think on.
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          • Profile picture of the author securelogy
            Originally Posted by AHayes183 View Post

            Hi,

            Thanks for getting back to me. I would be interested to learn more about what you mean by having it work against me as I build my brand?

            I am currently looking at the Seychelles as a possible tax haven, but will look more into what the new European Union laws are.

            I just figured I would be able to protect my company by registering it. Additionally, I was also hoping to add more of an authentic value but doing so. However, perhaps this is something I really don't need to do.

            Great advice though, thanks.
            The fact is. An offshore company in Seychelles or other tax havens is suitable as "Mother company" or a group holding. then you can have daughter companies in any country in the world. Since the holding does not pay tax then taxes could be deferred.

            However, if this should be the case, then you pay a lot of money yearly for preparing the books (not suitable for small business). If someone screw up along the way then it will come back at you. remember Wesley Snipes.

            The other things is if you have a company in Seychelles as an example. You just cannot walk into any bank to open an account. you need personal bankers for that. that cost also money.

            As regard the branding. It is hard for people not to imagine things when your operational company is in Seychelles. This would not work for you branding.

            If you try to get a merchant account in Europe or America for example then you will be up for a rough ride. without a merchant account then what can you do? Even PayPal will want to create problem for you. This is all due to anti-terrorism and the new European directive on Money laundry.


            You best bet if you want to avoid your own country is to find a European location like the UK where you only have 20% taxation on small companies. Ireland has 20%, that is why Google is there or Greece at 10%. This will give you the legitimacy.

            At Online Company Formation in UK and Limited Company Registration it will only cost you like 100 pounds and 2 days to form a UK company. Everything is online. Then with the papers go to any bank in your country and open an account. I have done this several times.

            In the US. you can best open an LLC company in Delaware. it takes 2 days as well and you can operate in all US and you will never have hassle signing into any affiliate or CPA or doing any transaction in the world with that. You can get your virtual address, phone numbers and a US account. I just did one set. Since you are from Norway, I would stick to Europe.
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            • Profile picture of the author Alan Mc Donald
              Originally Posted by securelogy View Post

              You best bet if you want to avoid your own country is to find a European location like the UK where you only have 20% taxation on small companies. Ireland has 20%, that is why Google is there or Greece at 10%. This will give you the legitimacy.
              Actually Ireland has 12.5% corporation tax. Dont put your money in Irish banks, they are all insolvent
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  • Profile picture of the author DrewClement
    Belize is a tax haven...just saying.

    Incorporation there is going to set you back no more than $500 in most cases.

    *DISCLAIMER*- Not a lawyer, tax consultant, anything. Seek out real legal advice if you are seriously thinking about it.
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  • Profile picture of the author AHayes183
    Thanks for the solid advice Securelogy, that really helps. If you were to register a company in the US would that have any chance of going towards or against residency?

    On another note, is it possible to open a Paypal account only in your business name? I wouldn't want to open a new account abroad in the same name and risk Paypal catching on and freezing both accounts.

    Thanks,
    Antony.
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    • Profile picture of the author securelogy
      Originally Posted by AHayes183 View Post

      Thanks for the solid advice Securelogy, that really helps. If you were to register a company in the US would that have any chance of going towards or against residency?

      On another note, is it possible to open a Paypal account only in your business name? I wouldn't want to open a new account abroad in the same name and risk Paypal catching on and freezing both accounts.

      Thanks,
      Antony.
      If you mean residency in the US, then the answer is yes, it will certainly be an advantage because with a registered company you will have a US Tax ID and be paying taxes in the US.


      You can open a paypal account using only your business name. However, Paypal always want to have the name of the person behind the business.

      You can have as many paypal accounts as you want. I have 4 and I operate them all using my name it is not like Google adsense.

      Don't forget an LLC is a separate entity from you.
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