Anonymous Offshore company with VAT registration and offshore bank account?

[zoomer]

Hi can I register any offshore company for VAT and still stay anonymous?


Actually I don't care about which country to incorporate as long as company is anonymous and offshore so I dont need to pay tax but can get VAT returns.

 

[JohnLocke]

It will be almost impossible to register a offshore company for VAT! VAT is a European thing so you will want to look into low tax jurisdictions, Cyprus and Malta are such they are not really considered offshore since they are within the European Union. Cyprus has the benefit to offer Nominees Shareholder/Director so one can still stay anonymous.


In regards to bank account it is possible to open an account in the Seychelles with Barclays or BMI other options are to look into Belize, Mauritius, Nevis and so forth offshore bank accounts which may offer the same layer of privacy but which not will protect you from any DTA's or TIER's.

 

[zoomer]

:thumbsUp: Got it will have to lurk a little more around.

 

[haslan]

Will it require a new company owned by Cyprus offshore company?

 

[JohnLocke]

Sorry don't understand your question, please elaborate?

 

[orangeye]

VAT is only available in Europe so far, discussions are going that for instant the US will have to have some sort of VAT in place soon so many offshore jurisdictions will.

 

[vinjansos]

VAT is only for Europe are you sure?

 

[salem]

Yes VAT is Europe only 1000% sure

 

[nastathin]

Soon VAT will be charged all over the World just wait and see

 

[wonderwilly]

Soon VAT will be charged all over the World just wait and see

Where did you read that?

 

[JohnLocke]

To avoid any confucion on VAT then I have found a link to a Earnst & Young Global PDF document that list countries applicable for VAT About Perfect Privacy | perfect-privacy.com Internet Encryption Services, Affordable Encryption and Anonymization

 

[orangeye]

Thanks for the VAT PDF this at least clears any doubts on what countries have to charge VAT.

 

[orangeye]

When you need to report VAT for a Cyprus company don't you have to reveal your personal information to the tax auth. in Cyprus?

 

[blainchain]

In my country it is the company's data that is reported together with the VAT, so I assume it is the same in Cyprus

 

[JohnLocke]

In my country it is the company's data that is reported together with the VAT, so I assume it is the same in Cyprus

Thats the exact same in Cyprus

 

[mulinoo]

Vat representation in Europe


Actually if is not true that your offshore company cannot get a vat number. You appoint a fiscal or vat representative in the country you are selling services or products in that are taxable. Your vat rep files all the forms and pays the sales tax usually quarterly.

 

[JohnLocke]

Sure it may be a possible way but not the usual way of solving VAT issues.

 

[mulinoo]

It sounds very usual to me. Especially if you consider that most foreign companies can apply for direct vat identification in most european countries. Even in Italy, an uncoopertive non-tax friendly country, you can do this online even in English. Though, in Italy only companies registered in some non-black listed countries can apply directly. Every single company doing business thus selling in Europe beyond a certain threshold to private consumers HAS to get a vat number either directly or through a vat rep. Nothing strange about it. In fact, there are companies set up all over the place just for this purpose. To provide vat representation. Some ask high fees, others no. I can't post a link but you google the company tmf-vat.com and go to the vat-fiscal-representative page. Explains the concept in English.

 

[JohnLocke]

Nothing strange about it. In fact, there are companies set up all over the place just for this purpose. To provide vat representation. Some ask high fees, others no. I can't post a link but you google the company tmf-vat.com and go to the vat-fiscal-representative page. Explains the concept in English.

Well, as I say it is an option. You may want to elaborate on why it should be better to find (make use of) and VAT representation rather than registering the company directly for VAT?

 

[mulinoo]

Well aside from the fact that the vat rep should be an expert and by law assumes joint responsibility for filing vat returns, there is only one reason (that I can see) to incur the added expense. Because the law does not permit direct registration of all companies in some countries. So often there is no way around it unless you want to incur the added expense and hassle of opening a local (profitable or not) branch.