Off-shore advice

ripperel · Oct 19, 2015

Hi everyone!

I am from Romania, so EU Union. However, having a business registerd in our country is quite expensive and basically, you have to work with the numbers all the time to be able to make some profit. Therefore I am thinking about opening an Off-Shore company at the begining of the next year (2017). As it would be my first time, I would appreciate your council on this, if you have any experience. I am mainly interested into bad/good scenarios so to say, so basically if you had any good or bad experience with an off-shore.

Best regards!

kunnu · Oct 20, 2015

I don't have a experience in successfully opening a company but few year ago I was try to open a company.

1. You need to follow rules of country where you are going to open company.

I was try to open a company in HK and they asked me lot of money for security(very expensive for me), Passport and many other documents.

Here is list of requirement they give me.
1. Lease a business premises(shop)
2. Provide home address proof, passport, etc of my own country.
3. Deposit minimum money (It was Euro 50k)

After that I was decided to do not operate my business in their country because of price was very expensive and many requirements. Its better to get a advice from legal professionals who know full process or search in google.

RuthSam · Oct 20, 2015

You need the company in 2017? You are planning in good time I must say

Consider countries like Belize, Seychelles, Cyprus, Anguilla, St. Lucian, Panama and so forth, most of them are pretty cheap to incorporate and don't require accounting.

ripperel · Oct 21, 2015

kunnu : I can't say I got many informations about HK from the internet, however there are states (like Seychelles, Isle of Man, etc.) which can offer you an off-shore company for around 500 EUR and up to around 2000 EUR for states like Malta, Cyprus, Gibraltar, etc. So the amount you specified, 50k seems too far out to me.

RuthSam : my bad. I ment 2016.

Misstype I guess.

gcgipson · Oct 21, 2015

I hear the nation of Dominica is good for off shore business, but I have no experience with any of it.

ripperel · Oct 29, 2015

So no one here had any experience with off-shores?

RuthSam · Oct 29, 2015

What experience are you looking for or rather what information do you want?

aretepharma · Oct 29, 2015

I can give you tax and legal advice as regards setting up in Malta (EU, Tax rate 5% for foreign shareholders of Maltese companies) depending on the nature of your business. Skype: moosemalta.

josegustavo · Nov 11, 2015

I didn't experience it. From where do you belong and where do you want to open your company? You should be aware regarding the legal compliance of target country.

mqsss · Nov 11, 2015

No matter how you turn it, you need more than $10k of profit per month to really benefit from having an off-shore company for tax evasion. If you already have $10k+ of profit per month, find a specialized lawyer and he will give you the best advice possible for a $1k fee.

But if you hide $20k per month in your pocket and your official income in Romaina is about $1k, you will have to answer a lot of question to authorities if you start buying things that are above your official league.

Darraghg · Nov 20, 2015

I am a UK qualified Financial Adviser and Mortgage Adviser based in Dubai, please feel free to PM me for any information you need on anything financial worldwide. Dubai is a tax free jurisdiction where many IT companies set up reasonably easily.

Off-shore advice

ripperel

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kunnu

Regular Member

RuthSam

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ripperel

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gcgipson

Regular Member

ripperel

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RuthSam

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aretepharma

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josegustavo

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mqsss

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Darraghg

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