WISE - UK - USA COPMANY ( TAXES )

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Barhouse

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Hello everyone,

We are engaged in e-commerce sales in the European Union, and our current monthly revenues exceed 700,000 euros.

Due to these significant revenues, we have monthly tax payments of approximately 150,000 euros. Each country imposes over 20% in taxes, and we are forced to find a way to reduce this amount.

We are exploring an alternative, which is to open a company in the UK and use a Wise account. However, we are curious to know if it's true, as some people claim on forums, that payments made through Wise are not monitored.

Our plan would be to operate for about 3-4 months using a UK company with a Wise account and then either shut it down or simply stop trading. The company would receive daily payments, customers would pay for their packages in cash on delivery, and the delivery service would deposit the money into the Wise account.

Thank you.

(Kindly convey my warm regards to the forum community.)
 
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Barhouse said:
Hello everyone,

We are engaged in e-commerce sales in the European Union, and our current monthly revenues exceed 700,000 euros.

Due to these significant revenues, we have monthly tax payments of approximately 150,000 euros. Each country imposes over 20% in taxes, and we are forced to find a way to reduce this amount.

We are exploring an alternative, which is to open a company in the UK and use a Wise account. However, we are curious to know if it's true, as some people claim on forums, that payments made through Wise are not monitored.

Our plan would be to operate for about 3-4 months using a UK company with a Wise account and then either shut it down or simply stop trading. The company would receive daily payments, customers would pay for their packages in cash on delivery, and the delivery service would deposit the money into the Wise account.

Thank you.

(Kindly convey my warm regards to the forum community.)
Click to expand...
wise does CRS ,

I think it can still work, I advise you to use nominess, if there is an audit you are more protected
 

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Hello.

thank you for answer.

You mean to open it on another name ? To buy one here on forum ?

Company based in UK , Money come from Europe Union , in this case Vat need be paid in Europe Union , but Europe Union cannot check UK companies , due to BREXIT.

Tell me if I am not right.
 
Barhouse said:
Hello.

thank you for answer.

You mean to open it on another name ? To buy one here on forum ?

Company based in UK , Money come from Europe Union , in this case Vat need be paid in Europe Union , but Europe Union cannot check UK companies , due to BREXIT.

Tell me if I am not right.
Click to expand...
Yeah best way to buy a wise account You are secure!
 
Are you guys have problem to Wise block money on company account ?
 
Barhouse said:
Are you guys have problem to Wise block money on company account ?
Click to expand...
only if they found some suspicious activity on the account. For example if you tried to charge your own account with debit or credit card of someone else's . this is just one scenario. If you have a direct debit setup from a company and they try to reverse the amount.
 
UK Wise business accounts go for approx $500 to $700 USD. You could also reg UK LTD with a foreign director and verify the Wise with their KYC info.
 
Are anyone know how to get cash out from wise business
 
No , but i am checking how to not get stuck at all
 
Barhouse said:
No , but i am checking how to not get stuck at all
Click to expand...
You need to warmup the account with gradually increased transactions over a few months. They manually check compliance on accounts every 3 to 6 months now.

Just make sure you have a real operating website with legal name in terms page. Be prepared to have to do a selfie holding ID and a random 3 digit number to pass any future KYC triggers.
 
For the amount of money you're talking about I would get professional advice from an accountant.
 
Hello, thank you for the information.

Does anyone have experience with the mentioned, working for an extended period with a UK company in the European Union in the e-commerce sector?

If anyone needs any advice regarding e-commerce sales, feel free to ask and message. I'm ready to help in any way.

7 years of experience in e-commerce, both blackhat and white hat.
 
Why are you paying so much taxes? Even on a 20% you should be able to deduct cost and pay taxes just on the net profit, not on all your revenue
Also UK increased by 5% tax rate this year, so I don't think is the best country. if you are in Europe, consider Hungary or Lithuania
 
Barhouse said:
Hello, thank you for the information.

Does anyone have experience with the mentioned, working for an extended period with a UK company in the European Union in the e-commerce sector?

If anyone needs any advice regarding e-commerce sales, feel free to ask and message. I'm ready to help in any way.

7 years of experience in e-commerce, both blackhat and white hat.
Click to expand...
could you please elaborate Blackhat ecom?
 
I have many client buying wise accounts for that reason
COD in golf countries and they get paid via wise and don't want it to be under their name
so I think wise will tell your government about how much you make
 
Getting paid by wise will be good also for international payments and reach worldwide banks
 
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