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Registering as an offshore company....

by mbmehmet
11 replies
Hey guys

I am hoping a member could point me in the right direction for registering as an offshore company.

I am based in the UK and don't know who to contact or how to go about doing so. I would really appreciate it if someone with some experience can PM some advice, for obvious reasons ;-)

Any ideas guys?
#company #offshore #registering
  • Profile picture of the author dvduval
    Are simply trying to take jobs from overseas? Or are you trying to register in another country besides your own?
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    It is okay to contact me! I have been developing software since 1999, creating many popular products like phpLD.
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  • Profile picture of the author Iemagine
    I would be careful with this. You really shouldn't post that kind of a question on a forum. There are other ways of doing this within the U.S.
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    • Profile picture of the author bengirwb
      Google "offshore company" and you'll get plenty of leads.

      But the process isn't cheap. And you'll have to open a foreign bank account which can require a hefty opening deposit.

      Could be cheaper to create a U.S. corporation, such as in Nevada or Wyoming. Opening bank deposit would be smaller. For this situation, Google "incorporating" and check the results. Usually sites offer to incorporate you for a fee plus the state filing fees.

      Don't know the legalities of you having to report your income to the U.K. taxman. But foreign and U.S. corps usually do not levy sales tax on internet sales.
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      • Profile picture of the author Iemagine
        Originally Posted by bengirwb View Post

        Google "offshore company" and you'll get plenty of leads.

        But the process isn't cheap. And you'll have to open a foreign bank account which can require a hefty opening deposit.

        Could be cheaper to create a U.S. corporation, such as in Nevada or Wyoming. Opening bank deposit would be smaller. For this situation, Google "incorporating" and check the results. Usually sites offer to incorporate you for a fee plus the state filing fees.

        Don't know the legalities of you having to report your income to the U.K. taxman. But foreign and U.S. corps usually do not levy sales tax on internet sales.
        Actually check with the state you live in or that you will be incorporating in because there are more states having sales tax on internet sales. Unless you could classify your business as a consulting business-which you could if you offer any training through your products and you wouldn't be lying. New state laws on sales tax on internet sales-state that if you sell a product and "ship it somewhere" then you have to pay sales tax. Now you wouldn't be shipping consultations or online training. But they would question you if you sold products and couldn't prove you didn't ship them. Nevada sounds like the place to incorporate.
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  • Profile picture of the author mbmehmet
    Thanks guys for all the responses. I will look more into what is suggested :-)
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  • Profile picture of the author mrdomains
    The complete guide on this would make for a pretty good product.
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    Free action plan : Think less. Do more.

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  • Profile picture of the author Chris Munch
    Originally Posted by mbmehmet View Post

    Hey guys

    I am hoping a member could point me in the right direction for registering as an offshore company.

    I am based in the UK and don't know who to contact or how to go about doing so. I would really appreciate it if someone with some experience can PM some advice, for obvious reasons ;-)

    Any ideas guys?
    Search for it in Google and email as many solicitors and specialists as you can find. Ask them a couple of up front simple questions and you'll find a good proportion will give you some answers, and often a lot of free advice to try and win you as a client.

    Bear in mind that if you remain living in the UK you still have to pay UK tax. Most people think that you can set up some offshore company and live in the UK with minimal tax, there's no such thing.

    If you don't like the UK tax situation you have to leave the country.
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    I rarely check my PMs here, if you need support, help or have a question please go to our support desk.
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    • Profile picture of the author Steve S
      mbmehmet:

      Are you a US citizen currently living in the UK? Or a UK citizen? If you are a UK citizen I cannot help you.
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