Recent content by banafinfodafuggiano

My customers are across the globe, except Asia. I charge AUD/NZD/USD/GBP/EUR because I run 30+ stores at the same time, however right now due to all my stores being registered in Canada, the only payout currency is CAD. and when I switch to the Singaporean company, it will only be SGD as the...

Alright, I will ask several questions to the Singaporean tax advisor and I'll report back here in a couple of days. I would need a real bank to operate under the Singapore company, not just EMIs, do you have any knowledge if other countries (Ireland, new zealand, Canada, EU) can open a bank...

Do you have a solid source that clearly states Singaporean company can definitely be 0% Tax if there is foreign income, the director is a non resident and the money are not remitted to Singapore? Does that mean the funds have to be in EMIs or banks outside of Singapore only?

I'm 99% sure Singapore taxes non-resident directors at a 22% fixed rate, can you double check this? I have a call with a Singapore Tax advisor next week and I'll report back but I'm pretty sure about that from what I read online. Why is HK more dangerous and Singapore better?

The problem here is, Singapore taxes non resident director salaries at 22%, and corporate tax is 17%. Meaning that if I get dividends from the Singaporean company I will have to pay 17% corporate tax AND then 10% income tax in Bulgaria, which is going to be similar to the overall income tax I...

Today the Tax planner literally said this (it costed me $800 USD for a consultation) , it's unbelievable, each tax advisor I speak to says a different thing: " Payment of salaries or payment of service fees to another party to reduce the amount of profits of the Hong Kong company does not help...

Do you know if that also applies to salary income tax paid from the HK company to the non-resident directors? Paying corporate tax in hong kong and then also paying again a dividend tax in your country of residence adds up and eats up profits very quickly.

Why is Singapore better? even if the offshore tax exemption is denied, it's still a 8.5% Tax plus 16.5% on anything above 2 million HKD. Singapore instead is straight 17% theft on all income except the first 100,000 SGD. Hong Kong sounds way cheaper as well to manage (without the tax exemption...

There is no corporate Tax in Hong Kong for foreign sourced income, an exemption can potentially be applied in my case. If not, then it's Bulgaria, do you really think they will care and know I manage a Hong Kong company instead of just being an employee? I'm more worried about having to pay...

So, if I am a EU citizen, who lives in Bulgaria, and operates a Hong Kong company (as the sole Director) and i pay myself a salary from this Hong Kong company, does the Hong Kong company have to with hold salary tax or other social contributions or even pension to Hong Kong authorities? Note...

Let's say I operate a Hong Kong company from Bulgaria, which has a 10% income tax. I pay my self a salary or I simply invoice my own Hong Kong company $12,500 USD a month for my services and I pay the 10% on that salary in Bulgaria. Does the Hong Kong company have to withold any tax at all...

What a fail that guy, he literally couldn't get more than 2-3 EMIs for his US LLC I guess Hong Kong is still the number one choice. UAE would be first but the multi currency bank accounts available and payment gateways are very limited. My customers are from outside the USA but I have 1-2...

For non resident, no they don't. and relying on one bank only is a bad choice. I need at least 5x EMIs for each corporate entity. Even tho I'm not a resident of the US?

I will soon be a resident of a 0% Tax country / or a country that doesn't tax foreign dividends. I'm already out of Canada. Unfortunately my ecom stores payment gateways are only compatible with HK companies, Ireland, Canada, etc... Neither US LLCs for non residents and neither UAE companies...

Alright fellas, I'm about to open a HK Ltd since the income my business receive is 100% offshore. My HK accountant say there should be no problem getting the Tax exemption, and it's costing me approx 750 USD a month all included (auditing, book keeping, etc). This is twice cheaper than just my...