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Thinking about setting up an offshore IBC need help!

Discussion in 'Business & Tax Advice' started by benjamins, Jun 14, 2013.

  1. benjamins

    benjamins Newbie

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    So I've been checking out to set up an offshore company, preferably in the Seychelles.

    I made a list of services offered by several companies to set up my IBC + bank account. But i'm still stuck on how to declare my work situation to the IRS of my home country as my IM income is my prime source of income.

    I know there are several members who eighter have income via an offshore company/bank account to stay away from taxes.
    So maybe you guys could shed some light on how you do this when Internet Marketing is the only source of income? I know there are differences between the different countries' IRS systems, but still, any information is welcome. I'm situated in the EU.
    (if the information is too vulnerable, feel free to PM)

    Much appreciated,
    Benjamins
     
    Last edited: Jun 14, 2013
  2. PrinceVisi

    PrinceVisi Elite Member

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    I live in Albania and you can keep 100% of your earnings to yourself here! :D

    Either way if you are willing to offer me a monthly pay, I will be more than happy to work with you and find the best way for you to keep all the money your are making online.

    Cheers
     
  3. benjamins

    benjamins Newbie

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    Thanks for your input but i'll stay with the business model of setting up an IBC.
    Greetings
     
  4. ROTAX74

    ROTAX74 Regular Member Premium Member

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    loool bro the better thinks to do when you want fuck the taxman , it travel around the world ;)

    Like you make 6 month in thailand or china and you back you country 6 month more..

    Is better if you dont want go to jail :)

    If you live europe sheychelle will good , be carefull country like belize and BVI it good for USA ppl
     
    Last edited: Jun 14, 2013
  5. benjamins

    benjamins Newbie

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    Thanks for the info

    Well i won't escape my country because i know it's possible to have an income going to an offshore account/company. I just like to know how people do it, hence my question in the OP.
     
  6. Alpha.

    Alpha. Power Member

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    It depends on your line of work. Setting up a IBC is just the first step but how will you accept payments? Most countries don't allow a transaction into tax havens (or rather, allow it and then put a hold on your bank account).

    Most payment services (like paypal) don't accept those accounts either... see what I'm getting at? :)
     
    • Thanks Thanks x 2
  7. t5o1m

    t5o1m Jr. VIP Jr. VIP

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    I'm very interested in doing this as well, but keep running into the issues listed in the last post
     
  8. thedarkest12

    thedarkest12 Regular Member

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    Likewise, am in the process of forming an IBC in St Vincent's for a client we work with - the source of funds is legitimate retail, however the company has run into financial difficulties in the UK, and the director is looking for protection. My concern with the IBC off shore is outside the attractive VAT and tax security and anonimity of the beneficial owner, is the holding of funds where payment then needs to be transfered legitimately to suppliers and manufacturers. I may approach a few formation agents and brokers, as after considering the options, a DIY application for an IBC may run into more hurdles than good...