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offshore banking/incorparation

Discussion in 'Business & Tax Advice' started by idontownablackhat, Aug 25, 2011.

  1. idontownablackhat

    idontownablackhat Newbie

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    Any people making good money on here using offshore banking?

    Im a student and receive decent student loans dont want to compramise this interest free money by taking large ammounts of money into my uk account.

    Id like to get my website incorporated in somewhere like delaware, with a offshore bank account, anyone on BHW successfully set this up and know good companies to go through?.

    also i've read that receiving money into a hong kong business paypal account linked to a incorporated hong kong bank account is a good idea as they have big privacy laws over there?

    My online store is taking payments for good in the upper £xxx region and want to keep this money safe and secure elsewhere and drip feed small amounts of cash into my student account as and when i need it

    Any facts/opinions suggestions you guys have would be great
     
  2. GangsterProfit

    GangsterProfit Junior Member

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    Use bitcoin, the ultimate tax haven.
     
  3. judson

    judson Power Member

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    The problem is that you are not going to find many people owning up to have such an arrangement, although it is perfectly legal in most jurisdictions.

    Your best bet is to google for "offshore company setup" and "offshore bank accounts". You will find a lot of providers, especially in the adverts. Prices range from a few hundred to a few thousand. So does the level of service too. Some will merely recommend you to the bank. Others guarantee that your company will have a bank account.

    If you are resourceful, you could even try and set everything up yourself, although you might run into problems finding local directors & company officials. (where they are required)

    Your choice of jurisdiction will depend on your circumstances ... how much you want to spend, your current location, and whether you want to go the low-tax or no-tax route. Delaware is great as a tax haven, as long as you do *no* business with US firms and citizens. The minute you do, you start getting taxed.

    There are a couple of books (by the same guy) I recommend reading, or quickly skimming, before you decide. Not all tax havens are created equal, and depending on where you live, some will be better than others. He covers what you should think about, and look out for.
    - Wiley - Secrets of Swiss Banking ~ An Owner's Manual to Quietly Building a Fortune ~ 2008
    - Wiley - Tax Havens Today - The Benefits and Pitfalls of Banking and Investing Offshore ~ 2007 - 047005123X

    I recommend them, because you can get both at decent ebook download sites.

    PM me if you need help getting the books.
     
  4. Adarme

    Adarme Newbie

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    This is easy to setup. The problem is offshore banks are very very wary of US companies. If you must have a US company I would suggest a bank account is a place like Cyprus or Hong Kong.

    To setup the package (company plus account) you are looking at $1,500 to 6,000 (bank account in Dubai). Let me know.