Offshore company formation

[healzer]

Hi guys/girls,

I was wondering if anyone has ever considered starting an offshore company.
Some time ago I read that people run companies in Malaysia, Philippines, ... and have employees.
The cost of living in those countries is really low. And considering the fact that most of us generate cashflow from online sources only, it would be very cost efficient to build a startup company in one of those regions.

Any experience from anyone here?

PS: I do not like outsourcing, being there physically enhances the quality of the work & progress.

 

[bartosimpsonio]

I've heard great things about Panama. Never looked into it, but they say it's easy as walking into some office and walking out with a LLC

 

[Getmypopcorn]

Hi im from the philippines and planning to start a simple IT company, if your interested to start a business here then you can visit the philippines manila and we can meet

 

[healzer]

Hi im from the philippines and planning to start a simple IT company, if your interested to start a business here then you can visit the philippines manila and we can meet

Sounds nice What kind of IT business are you looking at?

 

[benarata]

I would make the Philippines Corp a whole owned subsidiary of a Irish Corp or a British UK Limited Company that owns and controls ALL of your intellectual property rights. I am in the US but own the shares of a British UK Limited Company and it owns my whole owned Irish Corp. that owns 100% of the shares in it's US TX Based Limited Liability Company where I serve as it's manager not the owner. I have a few US Patents, Trademarks and Copyrights that are 100% owned by the UK limited Company and it "rents" the use of them to the Irish Corp. and in-turn it "rents" the use of the IP rights to the US LLC for a fee.

 

[Sherb]

I would make the Philippines Corp a whole owned subsidiary of a Irish Corp or a British UK Limited Company that owns and controls ALL of your intellectual property rights. I am in the US but own the shares of a British UK Limited Company and it owns my whole owned Irish Corp. that owns 100% of the shares in it's US TX Based Limited Liability Company where I serve as it's manager not the owner. I have a few US Patents, Trademarks and Copyrights that are 100% owned by the UK limited Company and it "rents" the use of them to the Irish Corp. and in-turn it "rents" the use of the IP rights to the US LLC for a fee.

That sounds convoluted, yo. Can I get an MS Paint diagram?

 

[Ikbendik]

OP look up Dutch Sandwich and Double Irish Arrangement for tax constructions. Because I wouldn't trust a third world bank with my money due to political insecurity (e.g. coup d'etats; frozen foreigner accounts etc.).

Keep in mind, physically being in another country could have impact on your social securities. E.g., as a Dutchman (European), I have to be (365/2)+1 days in my country of origin or I'll lose 2% every year on my state retirement fund. This could be a problem, unless you are making millions.

 

[almanula]

Well, in Africa we have 3 top countries in IT Sector that is growing... South Africa, Nigeria and Kenya. They say Kenya is the Silicon Savannah and the Tech-Hub of Africa.

If you need anything from Kenya, then I can be your go to guy.

Welcome

 

[healzer]

Well, in Africa we have 3 top countries in IT Sector that is growing... South Africa, Nigeria and Kenya. They say Kenya is the Silicon Savannah and the Tech-Hub of Africa.

If you need anything from Kenya, then I can be your go to guy.

Welcome

Many people are very skeptical about Africa right now, especially regarding IT.
But then I saw this:

 

[Maks.KV]

That sounds convoluted, yo. Can I get an MS Paint diagram?

+1 for visual diagram