Recent content by awareoatmeal

Thanks for your valuable input auric! I'll need to get a confirmation with local tax specialist soon

So you're saying I can't simply use money in the company bank account for personal expenses as mentioned by Stefano3323 or is there a way to get around this? Another thing: there is no CFC rule in the country that I'm residing in (+territorial tax system), so I just pay myself dividends/salary...

So let's say if the IBC makes a huge profit, I pay myself a decent salary, pay personal tax on it, and squirrel the rest of the money into some investment vehicles/personal expenses and leave 0$ balance (or whatever is required as the minimum) in the corporate bank account? To add to the...

In this case for Tasgall, would the tax be collected in the EU country he is residing in? As the Seychelles IBC is a CFC in his resident country. Another question, if I would like to optimize my tax legally using Seychelles IBC, what is the best way of doing it? (I am residing in country with...

Hi everyone, My current situation is like this: I am a citizen here and own a sole proprietorship in Malaysia doing business (IT) with foreign clients, so profits are remitted from outside Malaysia. I pay tax to the Malaysian equivalent of the IRS, so no problem with this. I also have a...

Went as in physically present?

I'm interested as well, more details please

Singapore is actually one of my top choices for banking, but their initial deposit is too much at 30k USD :( So my plan is to use ABC Bank for the time being, and open a corporate bank account when I have the extra money. Does that make sense?

That's because the corporate service provider I'm using has a close relationship with the bank. I'm not too concerned about AEOI because tax avoidance is not my concern, stability and ease of use are my major concerns

Hi Admin :) Yes, I have read those threads, however most of them are from 2 years back or more. I'd like to know if they are still a good bank since many laws and regulations have changed.

Anyone here has experience using their service? Are they solid, will they freeze your fund without any reason, will they ask many questions upon incoming wire transfer etc? They offer remote account opening and requires not too high initial deposit on their website.

Hi, I would like to know what do you think about ABC Bank Mauritius - as in are they solid, will they freeze your fund without any reason, will they ask many questions upon incoming wire transfer etc?

For guaranteed bank account it only applies to offshore company + Singapore bank account

Not related to the company, stumbled upon it on my google search on similar topic and found no review As per title: has anyone had any experience with this company? Company formation in Hong Kong and Singapore. Setup Offshore company - INTERCORP They seem to be able to open corporate bank...

why is it impossible to open singapore bank account lately? I thought with proper documents and 40k sgd initial deposit it's possible to open an offshore corporate account?