Our valued sponsor

Online Business as a UK citizen - Seychelles/Cyprus?

globality

Offshore Agent
Sep 12, 2011
5
1
3
42
Norway
Visit site
I am a new member on this forum and firstly I’d like to thank you all for sharing so much useful information. However, I would appreciate some clarifications and guidance as to the best structure for my situation.


I am an experienced internet marketer branching into a new online enterprise, which I would like to base offshore. Expected earnings (based on previous experience!) likely to be $60-100k within year one.


My reasons/motivation:


1) I am a UK citizen currently living in another EU country. My future plans are flexible and it’s highly likely I will either stay here, or move to another country. For this reason, I am reluctant to incorporate in the UK or any other specific country. Essentially I want to keep my options open.


2) Privacy. Due to the topics, my new ventures will be produced under a pen-name, therefore I would like the company structure to also protect my own privacy.


3) Tax advantages. I do not want to “cheat” and pay no tax at all. I fully intend on paying a reasonable amount of income tax, but I am keen for the company to accumulate remaining profits in a tax-free environment.


My questions:


1) The accepted consensus seems to be a Seychelles IBC with a Cypriot bank account. Is there any red flag I should be aware of here?


2) In my situation, is it recommended to have a Mauritius Trust owning the Seychelles IBC?


3) Is there a potential problem with my status as an EU citizen and banking in Cyprus, even though the Cypriot account would be in the company name?


4) I wish to show a reasonable income to keep the authorities happy in whichever country I happen to be living, so what is the best way of drawing out money on which to pay personal taxes? Should I a) Invoice the IBC for work done at a rate I deem reasonable, or b) engage a contract of employment with the IBC (not something I think would be a good idea, but I’ve seen it recommended to give a reason to be a signatory on the bank account)


I have an existing personal offshore account in Cyprus, so I am comfortable with opening a business bank account there. I will not require a merchant account. However I would like some assistance incorporating in the Seychelles (if that is indeed best) and would be happy to receive an offer from you Admin :)


Thanks!
 
Welcome aboard ;)


Well, one of the reasons for why most on this forum are suggesting a Seychelles company + Cyp. bank account is that it is a good but cheap solution to protect your privacy, assets and anonymity. That said, I don't want to let it sound like it is a tax evasion scheme, because it is not, to pay personal income tax should be an obligation everyone can understand, however, at the end of the day it is up to you.


Now, in regards to the bank account opening in Cyprus, I would recommend you to read this short information Offshore Company Forum - Open bank account in Cyprus, personal or corporate? it actually explains why you are protected as an EU citisens from a TIEA - Further to withdraw the money from to your own personal account, there are many options (legal) you can simply payout to your self and pay tax from the amount (the Seychelles auth. don't care what you are doing at all) or you can make it a loan (some are doing that on partial amounts) or you can be actually employed by the company and get your payment each months... there are many options.
 
Last edited:
Just ask if there is anything I need to shed more light on... I will try my best :)


For fees you can have a look at this link: Seychelles Company :check: We have a package fee as well, depending on what service you may need. best would be to open a ticket with your requesting information or contact us on
 
Last edited:
offering Swiss or Liechtenstein bank accounts
We do not operate there nor do we have any solution to help people with this aim :) Let me know if there are any more questions.
 

Latest Threads