Where to create a new company ?

Vrill said:
Hong Kong isnt first choice anymore.
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HK is still among top offshore jurisdictions. The costs of running company there can't compare with Singapore.
In addition, each company must have their accounts audited, which makes it very transparent and compliant.
 
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The issue is that the right jurisdiction for incorporation depends on your nationality, place of domicile, as well as where your income is generated and how it is generated. What's appropriate for an Indian national isn't necessarily going to work well for a US national and vice versa. So unless we're fully cognizant of the original poster's situation and requirements, our individual experiences may or may not apply to him.
 
HK is still among top offshore jurisdictions. The costs of running company there can't compare with Singapore.
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I guess you mean top offshore jurisdictions for offshore company sellers :) like cyrpus :D
HK isnt HK from the past anymore.Offshore jurisdiction currently only on income and tax but no more in other staff.There were chuge changes and opening a company in china directly where you are 100% safe against US jurisdiction costs a minimum of $700.000 and over 6 months waiting time
 
I did quite a bit of research on this. I found Hong Kong is the best and Singapore comes second. Don't worry about people telling you it's risky and you will eventually get caught for tax fraud. Truth is, a company is a separate legal entity, resident in the country it is incorporated. If you open a company in Hong Kong, it is treated just like a Hong Kong citizen would be, for tax purposes, and would be governed by the fiscal laws of Hong Kong.

You don't have to try to hide the fact that you are a shareholder/director/owner of a foreign company from your government or anyone for that matter, since you are not doing anything illegal. As far as I know, there is no country with laws that prevent their citizens from being shareholders or directors of a foreign company.

When you try to bring the money inside your home country either as income from salary or dividend income, it becomes your personal income and you will have to pay taxes on that.
 
I am surprised to see no one mentioned Dubai/UAE yet. 0% tax, business visas and a lifestyle you won't find anywhere else. You can even setup a virtual office there, which allow you to operate bank accounts etc.
 
License fees that are renewable yearly is too high, and you gotta have an office there. Good onlyif you want to move over there and live there, but its fucking hot for 8 months of a year and the internet is bloody expensive and firewalled and speeds suck. Freezone companies aren't as good as off shore companies in other places.
 
Open it in Albania, i can help you managing it. I have finished master for accounting and auditing and i can help managing your taxes.Albania is near Italy, so will be more better for you.Give more details about your company, so i can tell you what taxes are for this bussiness.
 
Zigas said:
Open it in Albania, i can help you managing it. I have finished master for accounting and auditing and i can help managing your taxes.Albania is near Italy, so will be more better for you.Give more details about your company, so i can tell you what taxes are for this bussiness.
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Yeah right... the next year or so (assuming he makes a decent profit) you will blow up his car or kill him some other way in order to get all the profit.

People, STAY AWAY from Albania regarding the business sector. If you are going to spend your summer vacations there, then it's alright (even though can be risky sometimes: http://www.lajmeonline.net/en/3-dead-and-2-injured-in-Vlora-beach ), otherwise, STAY THE HELL OUT.

This is coming from an Albanian, who moved out of the shitty country, seriously wounded from the mafia and illegality, that you cannot even make a step in the business world without having to deal with someone who will try to take you and/or your business down.

Just so you know and just in case !
 
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I heard there are no taxes on Mars bro.
Move there and pay 0% taxes :cool:

/LameJoke

Yup HK is a great place
 
HK or Singapore are both great locations. They aren't financial hubs for no reason!

New Zealand allows you to incorporate with ease, but you still face higher taxes on your entity.

The dream is to figure out a way to pay out cash as dividends in a non-taxable manner.
 
vivalafeva said:
you couldnt be more wrong about this, I would speak to a good CPA who can explain this to you, but thats a relatively common misconception, trust me.
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If you live in the USA and have a DE company, you are taxed on the state the you live at, and you need a foreign qualification. If you are a foreign national living outside the US, you pay the 8.5% DE state tax, no escaping that. I found this the hard way and I'm moving my company to DE to Nevada. Vegas Baby. Yeah.
 
If you just want a lower rate of tax, and don't want to relocate too far, then just move to any other EU country with lower tax? If you have a family, Germany is actually a very underestimated place, as tax is reasonable and cost of living is really low. Being a single though, the tax rate there is too high.
 
xpsycho11x said:
Hello guys, I live in italy ( where we pay taxes up to 70% ).
So I need to create a new company, what are the best countries to create a new company ?
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I have not seen a discussion of the many 'mind and management' rules that many countries have. This would make all of these plans to setup an offshore company ineffective. What these rules say is that the company is resident where the mind and management is located. So a Hong Kong company or a Bahamas company, if it is managed by a single shareholder from a Western country, that corporation would be resident in that country - without the benefits of an actually registered Western company. This is not a zero risk situation and could be costly. The only way I can see it working is being already pretty wealthy and having an independent management (unlikely), or moving to a country of your corporation or not being in a country that has these ultimate control rules.
 
tinkerer33 said:
I have not seen a discussion of the many 'mind and management' rules that many countries have. This would make all of these plans to setup an offshore company ineffective. What these rules say is that the company is resident where the mind and management is located. So a Hong Kong company or a Bahamas company, if it is managed by a single shareholder from a Western country, that corporation would be resident in that country - without the benefits of an actually registered Western company. This is not a zero risk situation and could be costly. The only way I can see it working is being already pretty wealthy and having an independent management (unlikely), or moving to a country of your corporation or not being in a country that has these ultimate control rules.
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Yes correct... :creep:
 
Great thread, just wanted to add my 2 cents:

I've had companies in Singapore and HK. HK is cheaper, taxes are easier and it's generally safe. However, in the last years people there has been a decline in trust for HK companies. Some payment processors might bounce you and general international trade sees HK companies as "shadier" ones (but less shady than IBCs).

Singapore on the other hand is a more reputated hub, so you will have no reputation problem at all. Known payment processors operate there (Braintree, Stripe soon) and a lot of the big banks of the world are routing through there. Everything works perfectly, it's the Switzerland of Asia. The bad side is that everything is quite expensive. Set up, legal, accounting fees all match the prices of the city... and it's one of the most expensive ones in the world.
 
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