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Offshore Company Setup for Monthly $40k Mobile App Revenue

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(continued from above)

Apple also says that they will not send money to correspondent banks, but I don't think that is accurate because many of the banks that do show up in itunes connect do use intermediaries.

My assumption is that if you can find it via the search functions (I use country and city), then Apple will send money there. Otherwise, they will not.

(Google, by the way, requires that app developers have the bank account in the country of incorporation if they want to get paid.)
 
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CORRECTION: Please disregard my message above (#33). It appears now Apple will send money to zero tax jurisdictions. I had heard that they were making efforts to add banks and it appears that in the last month or two a bunch of banks have been added. Nevis, Antigua, and Belize banks can now get payments from i tunes connect. Sorry for any confusion.
 
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Hello,
I am non-eu and non-us resident and interested in setup offshore company. I am individual mobile application developer and I have income from directly Apple USA which approximately $40k per month.

I am using Payoneer for my payments but I am not too much comfortable with them. I lived in Dubai 1 year ago and I have a bank account in UAE but it is personal account. I don't want to use it because probably it will create a problem with bank's policy.

Can you recommend me agency and setup/country?

Thank you very much

It seems, given your description of your circumstances, that Apple must be witholding 30% since the US doesn't have a tax treaty with the UAE. Am I right about that? I'm going off this page from pwc:

http://www.taxsummaries.pwc.com/ID/United-States-Corporate-Withholding-taxes
 
It seems, given your description of your circumstances, that Apple must be witholding 30% since the US doesn't have a tax treaty with the UAE. Am I right about that? I'm going off this page from pwc:

http://www.taxsummaries.pwc.com/ID/United-States-Corporate-Withholding-taxes
I don't think Apple is holding %30 for tax. I know that Apple is taking %30 cut as commission, paying tax of that amount and they are sending %70 to developers but responsible for income taxes. I have UAE residency right now and in UAE personal income tax %0. Please correct me if I am wrong.
 
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I don't think Apple is holding %30 for tax. I know that Apple is taking %30 cut as commission, paying tax of that amount and they are sending %70 to developers but responsible for income taxes. I have UAE residency right now and in UAE personal income tax %0. Please correct me if I am wrong.

Across the globe there are things called tax treaties that specify how much tax is to be witheld. So, if you look at the table that I linked to, you will see that the US treaty with Poland requires that US companies (e.g., Apple) withold 10% tax on royalty payments to Polish entities. The US treaty with the Slovenia requires 5%. The US does not have a tax treaty with the UAE or with most other tax havens. Thus Apple must withold 30% from the royalty payments for your app. So, I would recommend you do the math for your sales and see what Apple is actually taking in from sales of your app and compare to what they are paying you. This is the downside of living in the UAE from a tax point of view. It has no tax treaties with major markets.

The only possible explanation I can think of for Apple not witholding tax is if somehow it is not a US company that is paying you. What is the full and exact name of the corporate entity that is paying you? And what jurisdiction is it in?
 
Hello,
I am non-eu and non-us resident and interested in setup offshore company. I am individual mobile application developer and I have income from directly Apple USA which approximately $40k per month.

I am using Payoneer for my payments but I am not too much comfortable with them. I lived in Dubai 1 year ago and I have a bank account in UAE but it is personal account. I don't want to use it because probably it will create a problem with bank's policy.

Can you recommend me agency and setup/country?

Thank you very much


Since you have already resided in Dubai why not try a Ajman or RAK free zone company? - this will give you the option of UAE tax residency and, as you already have a UAE bank account it should not be difficult to get a UAE business bank account as well - Depending on the bank you should not have difficulty in linking up paypal or similar
 
there are jurisdictions where a COLLECTION SERVICE COMPANY is not forced by law to become associated with any banking supervision commission - can act and provide services to clients (individuals or corporate bodies) from everywhere

problem could be the SOURCE of your income... not apple paying but the companies' residence funds are paid to... the bank of the collection company would probably refuse incoming wires from the usa to become credited in favour of a seychelles structure

FFBKDAVID


Hello,
I am non-eu and non-us resident and interested in setup offshore company. I am individual mobile application developer and I have income from directly Apple USA which approximately $40k per month.

I am using Payoneer for my payments but I am not too much comfortable with them. I lived in Dubai 1 year ago and I have a bank account in UAE but it is personal account. I don't want to use it because probably it will create a problem with bank's policy.

Can you recommend me agency and setup/country?

Thank you very much
 
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