Is your business legally registered?

[shattered world]

For those of you with businesses, is yours legally registered with whatever province you live in, or do you just operate under a business name and skip all the registrations?

 

[roydan]

Properly registered. Very easy to register a business in Israel.

 

[Champagne]

Of course, it is registered.

 

[vicky71083]

Yes I am using Registered business details for my business.

 

[ggmopa]

For IM - nope. No real major liabilities atm so not even needed

 

[t2van]

Yes and No.

We have a branded LTD name we registered back in Covid because fuckers where applying for bounce back loans in our name* we now just let that go by not filing dormant accounts, because its cheaper to just get struck off than pay the accountant £300 to remove it. It was also registered with a bunch of staff names back in the day before you needed to confirm ID so would be impossible for anyone to claim you was a person with 5 middle names.

*fun fact someone still did manage to apply and claim to be us and managed to swindle the bank out of 105k no idea what happened to that person all i know I never had to pay that money back as we never took a BBL


We got another LTD registered under something totally different which does all our legal filing so yes it is registered.

 

[Champagne]

For IM - nope. No real major liabilities atm so not even needed

It really depends on where you live and what your income is. At some point, the government will come after you if you're making good money for yourself.

 

[ggmopa]

It really depends on where you live and what your income is. At some point, the government will come after you if you're making good money for yourself.

Oh I am for tax purposes but business isn't incorporated. Asumed that's what the op meant.

 

[Champagne]

Oh I am for tax purposes but business isn't incorporated. Asumed that's what the op meant.

Oh, I see. I thought the OP was asking something else.

 

[LegacyBuilder248]

If you are outside US register an LLC for $300-600 .
0% tax legaly in the US on company income
no CRS and tax reporting
Credit Score building in the US
US banking

 

[SilverClouds]

If you are outside US register an LLC for $300-600 .
0% tax legaly in the US on company income
no CRS and tax reporting
Credit Score building in the US
US banking

Yeah, even with all the Trump drama after comparing whole fuckin world these structures are pretty straightforward and cost-effective. Also for Asia I find Hong Kong more interesting for registering a company than Singapore, the amount of rules in Singapore makes me wanna cry.

Are you *actually* able to build credit score with this? You use actual US banking, not Wise etc?

 

[LegacyBuilder248]

Yeah, even with all the Trump drama after comparing whole fuckin world these structures are pretty straightforward and cost-effective. Also for Asia I find Hong Kong more interesting for registering a company than Singapore, the amount of rules in Singapore makes me wanna cry.

Are you *actually* able to build credit score with this? You use actual US banking, not Wise etc?

Yes you can build credit score with it also credit card history and best of all using an amex you get 4 points per spend dollar instead of 1.5 points per spend EUR in europe.

But the main diffrence between Hong Kong and US is that Hong Kong is CRS reporting to your home country which USA is not and also opening a real bank account (not EMI) in Hong Kong is way more difficult than USA