Opening offshore company

[Disbalanced]

I know this was already asked before, however I am looking for actual info in 2020.
I am running legal business and getting payments from company like Google. However the expenses are also large. Like 30% of income must be reinvested (Basically to buy ads). That means if 100% is reinvested - I triple my money. The main issue that my ads provider will not be able to provide any contract.
That means that in case if I need to pay for services - I can't do it from my company bank account, I must do it using personal account. That also means I must pay myself salary and spent more on taxes and in the end it's not an option.
I decided that I need offshore bank account/company for my operational expenses. Here is list what I am looking for in order of importance.

1. It should not report to EU IRS
2. I am not obligated to report my spendings on ads
3. Zero or low tax
4. Physical or Virtual Credit Card

In case if somebody has an experience with this and ready to help - please DM me.

 

[pandapandax6]

UK Limited company and Belize bank account

 

[Disbalanced]

UK Limited company and Belize bank account

Don't hesitate to drop a link to company what can help me with this.
Do you have personal experience?

 

[sunnybay]

Why don't you open an US LLC and put ads to expenses?

 

[Disbalanced]

Why don't you open an US LLC and put ads to expenses?

perhaps I never heard about US LLC since I am not from US
Well, to ut ads in expenses I need kind of document, but I dont have one.
And even if I had - I dont trust my gov so in one day thay can literally say - Your document is not valid, your are fucked

 

[kvvni]

I am guessing... you are from European Union?

 

[Disbalanced]

I am guessing... you are from European Union?

thats what I mentioned in the initial post, you shouldn't guess

 

[TomTheCat]

I think it should work without an offshore company. Why? Here is why. CPA companies pay affiliates, that don't have a form of incorporation right? They issue an invoice with their name, and details. You can do the same for your ads provider. You pay him for the job he does. You make the invoice, so you have something on file, and you send it to him (email) if he wants to have it. Check with an accountant.

 

[Disbalanced]

I think it should work without an offshore company. Why? Here is why. CPA companies pay affiliates, that don't have a form of incorporation right? They issue an invoice with their name, and details. You can do the same for your ads provider. You pay him for the job he does. You make the invoice, so you have something on file, and you send it to him (email) if he wants to have it. Check with an accountant.

I will keep in mind your advice, seems legit and perhaps I will use that in future, however since I still don't believe my government and laws here change rapidly - I will feel myself secure if oficially my business will be outside of the country

 

[ExperimentalSEO]

I will keep in mind your advice, seems legit and perhaps I will use that in future, however since I still don't believe my government and laws here change rapidly - I will feel myself secure if oficially my business will be outside of the country

If you are that paranoid about your country, you should move to another one of the EU member nations. Advertisement is a standard business expense and is going to be deductible from revenue in every country.

Offshore may help you in the short term, but eventually you will get caught as the pressure is mounting up on tax evasion. Countries that do not have much resources when it comes to investigating and dealing with international schemes involving tax evasion are getting help from other countries.

"In collaboration with the East African Community, the Netherlands’s Fiscal Information and Investigation Service, the U.S. Internal Revenue Service (IRS), and the Danish Tax Agency (DTA), the World Bank is also crafting a program to help developing countries fight tax evasion—an “International Fusion Center” that will be launched sometime next year. The idea is to leverage developed countries’ IT savvy, knowledge, and business smarts in support of the World Bank’s lending and technical-assistance work. "

https://blogs.worldbank.org/governa...otes-international-anti-corruption-conference

 

[bdman]

Estonia eresidency check it

 

[theRevolt]

I know this was already asked before, however I am looking for actual info in 2020.
I am running legal business and getting payments from company like Google. However the expenses are also large. Like 30% of income must be reinvested (Basically to buy ads). That means if 100% is reinvested - I triple my money. The main issue that my ads provider will not be able to provide any contract.
That means that in case if I need to pay for services - I can't do it from my company bank account, I must do it using personal account. That also means I must pay myself salary and spent more on taxes and in the end it's not an option.
I decided that I need offshore bank account/company for my operational expenses. Here is list what I am looking for in order of importance.

1. It should not report to EU IRS
2. I am not obligated to report my spendings on ads
3. Zero or low tax
4. Physical or Virtual Credit Card

In case if somebody has an experience with this and ready to help - please DM me.

Man, pay for a tax lawyer.

If someone tells you yes they have experience that is enough for you?

No matter where your company is if you take money out you will be tax where you live, simple as that.

This is a complex subject and as only death and taxes are certain you may want to spent the money on an actual expert not a self proclaimed one here.

 

[lomas007]

Dude! They pay top dollars to get those info you will not get them here for free, go fetch a lawyer or a tax accountant expert will help you through that. Mostly you need referrals from shady fellas to have access to this kind of info legit lawyers and accountants will not help you evade taxes. You need to take a flight to build a shell company on some shady places and have connections to keep this under the radar.

 

[Disbalanced]

Well, first of all I appreciate all advises.

Many of you have mentioned the option to hire a lawyer and I am ready to pay - but at least I was hoping that you can recommend one.

The matter of fact that I am ready to pay and ready to collaborate, but there is no professionals in my country.

I mean - when I tried to open company here (yeah, exactly -local one, so it's nott required to know international laws, just local ones).
I picked 3 different phone numbers from classifieds and every cal was quite simple:

I: Hello, I saw your classifieds, can you help me opening a company?
Lawyer: No I can't
I: But there is clearly written that you can do this
Lawyer: Well, actually I can't. I don't know how to do it.

The same result was when I tried to contact an accountant.

After that I decided to visit local IRS office to make sure they can explain and guide me.
All they said: Pay taxes, we don't care how you do it, just bring the money. We can't recommend any lawyer/accountant. Just bring money.


So yeah, I was forced to research on my own and I found easy solution (less paper work etc). However it's not an option for this type of business what I am asking you about.

So yeah - I met unprofessional dorks on every step and it also is the reason why I am not interested to register company here.

 

[Disbalanced]

Man, pay for a tax lawyer.

If someone tells you yes they have experience that is enough for you?

No matter where your company is if you take money out you will be tax where you live, simple as that.

This is a complex subject and as only death and taxes are certain you may want to spent the money on an actual expert not a self proclaimed one here.

Does not sound inspiring since I dont take money to personal bank account.
So do you mean I need to force my ads provider to create kind of an agreement?

 

[TomTheCat]

So do you mean I need to force my ads provider to create kind of an agreement?

You don't need a lawyer. You need an accountant. You can pay people from your company bank account, in exchange for their services. You just write the invoice for them. This works were I live, and I live in EU too. And don't go to local accountants. Find a big accounting company.

 

[Disbalanced]

You don't need a lawyer. You need an accountant. You can pay people from your company bank account, in exchange for their services. You just write the invoice for them. This works were I live, and I live in EU too. And don't go to local accountants. Find a big accounting company.

Do you mean adding note to bank payment is enough?

 

[TomTheCat]

Do you mean adding note to bank payment is enough?

You must issue an invoice with the ads provider name and details.