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Offshore company formation

Discussion in 'BlackHat Lounge' started by healzer, Jun 21, 2017.

  1. healzer

    healzer Jr. VIP Jr. VIP

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    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.
     
  2. bartosimpsonio

    bartosimpsonio Jr. VIP Jr. VIP Premium Member

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    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
     
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  3. Getmypopcorn

    Getmypopcorn Newbie

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    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
     
  4. healzer

    healzer Jr. VIP Jr. VIP

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    Sounds nice :) What kind of IT business are you looking at?
     
  5. benarata

    benarata Junior Member

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    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.
     
  6. Sherbert Hoover

    Sherbert Hoover Jr. Executive VIP Jr. VIP

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

    Ikbendik Newbie

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    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.
     
  8. almanula

    almanula Registered Member

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    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
     
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  9. healzer

    healzer Jr. VIP Jr. VIP

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

    Maks.KV Registered Member

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    +1 for visual diagram