Offshore business registration

[SilverClouds]

Obviously lots of online business owners here. Where do you reccommend to register a business for least taxes and reasonable monthly/yearly cost and least bureaucracy?

Share some negative reviews as well, you didn't like the jurisdiction so you want to warn everyone else that it's the next Lucifer right after Paypal?

Honestly lots of these company registrations sound so scammy that I have PTSD from talking with them, not feeling respected as a client at all. Most sound like scammers.

 

[roydan]

Payoneer sucks, Paypal sucks, I'm talking to Airwallex now, which sound decent but I still can't recommend them from experience.

Israel is a complete shit with the base tax structure, but the system is exploitable so even though company's revenue level puts me at 50% tax, I barely pay anything because I optimized my expenses (thankfully my tax advisor is smarter than I am).

I really want to have another company in the US to make it closer to most of my clients but I don't really want to start having to optimize this crap all over the globe or a (disc if you have an extra chromosome)

 

[SilverClouds]

Payoneer sucks, Paypal sucks, I'm talking to Airwallex now

Yeah, looked at their website yesterday before posting this . That's something like Wise Business, no? An app?

Israel is a complete shit with the base tax structure, but the system is exploitable so even though company's revenue level puts me at 50% tax,

Yeahhh, I think that online info on taxes in Poland is a little bit too optimistic, it does go to 50%. But that's because there are other things not named 'tax' that you have to pay that are basically that.

I barely pay anything because I optimized my expenses (thankfully my tax advisor is smarter than I am).

That's golden! Hard to find someone like that, there's maybe 1 dude in Warsaw that's servicing the whole country .

I really want to have another company in the US to make it closer to most of my clients but I don't really want to start having to optimize this crap all over the globe or a (disc if you have an extra chromosome)

These company registration companies are so scammy it's crazy... Calls with them are weird, they sound worse than ad account sellers on bhw .

Idk if registering a company like that helps with getting bank account in that country or everyone is using fintechs anyway because they can't get a bank account (I'm not talking about preference for fintechs because faster & cheaper transactions, etc, I mean these businesses don't qualify for bank accounts).

Also wondering if Wise or Revolut would kill my accounts if personal one was from different country and business one from different one .

 

[Zwielicht]

Share some negative reviews as well, you didn't like the jurisdiction so you want to warn everyone else that it's the next Lucifer right after Paypal?

Do not register a business in California or New York. In California specifically, if you want an LLC or corporation, the filing fees are quite high and they have things like the annual “LLC” tax that’s $800/year last I checked.

I’ve heard of some people registering foreign LLCs in Delaware and Wyoming as they’re supposedly a lot lighter in terms of taxes. The only reason I never registered my company there is because not only would I have to pay the taxes in Delaware or Wyoming, but California would require me to also pay taxes here as well anyway just because I live here.

 

[t2van]

Is the registration for long term use or churn and burn or just to avoid taxes? Or for easier payments from clients?

If it's to avoid or pay less, do you have exit plan later in life or where you plan to settle?

If there is state assistance then you need to pay something and have proof of It to get something back (least UK for example how it works else where no idea)

Can't help much just thought id ask. I have off shore accounts and currently going through the steps of opening something in the USA but it's out of my skill set so I've hired some people to do it for me..

 

[BaZinga]

Are you looking for a different country to register in or does it need to be in your country?

 

[indianmojojojo]

Wyoming USA.

I have two companies here

Zero taxes and you can also legally avoid personal income taxes with DTTA(talk to a local accountant who knows about both Polish taxes and srilankan taxes)

Your only cost is the state yearly filing and doing the form 5472. Roughly about 400 USD - 500 USD per company including a CPA.

 

[A Cockerel]

Oh you could say I'm a chicken so I don't mess with the tax man!

But if I weren't a chicken, let's just say I'd register in Singapore. I know a big business guy who registered a business there for a project. Not the smartest hen in the coop that one but he had a lot of money to spend on good lawyers for that kind of that BAWK!

 

[SilverClouds]

Are you looking for a different country to register in or does it need to be in your country?

I moved out of my country (Poland) in January 2024. So I'm looking either for different country (not my birth country and not the one I live in right now) or if possible I could register where I live now (Sri Lanka). Sri Lanka business registration is not expensive but I'm not sure if I can do this on my current visa or need to leave the country and reapply to a different one or if I even qualify for any sort of resident or business visa with business that small . I will be contacting some sri lankan incorporation companies about it and see how it goes, maybe I will manage to find someone with accounting / business registration / visa expertise. Will be contacting them. The thing is I did contact visa companies once I arrived and asked at Immigration Office too and wasn't able to figure anything out. Bureaucracy is crazy here, I see locals complain about this too. Sri lankans complain on Reddit about having trouble opening bank accounts as freelancers . So how I, as a foreigner am I supposed to do this if locals can't? Fuck, I even tried paying polish guy that lives here for more than 10 years for info and he ignored me.

So yeah, looking for countries I can incorporate in as non-resident.