Best country/jurisdiction with no director/owners public records

[microboi]

Hello all, it's my first time here


I wanted to open a perfectly legit IT company that would sell and rent software to international customers. I would prefer my name not to be public.

I was looking for a place to open my company where the director and owners are hidden to public view and I can open a business bank account to be linked to paypal. I would pay taxes in my own country.

I looked at Hong Kong, Singapore, Dubai but I don't want to travel, plus I don't have 100K for the minimal deposit to open the bank account.

Delaware.. I don't know if there are public records, I suspect there are
Wyoming.. could be an option
Seychelles.. could be an option but the law changed in 2018 so I'm not sure
Belize.. could be an option but I want to stay anonymous for the public only, I don't need complete anonymity

Could someone please help me?

Thank you

 

[James Turner]

It is reasonably simple to create a company where your personal details are not available publicly. Your issue will come when you utilise a location that protects your details and you also want to link to Paypal as most locations that protect your details will not be acceptable to Paypal. I would suggest considering the use of Nominees which will open up other locations to you, but in essence Belize, Delaware, Wyoming could be options that would work for you, but check with Paypal first.

 

[microboi]

Thank you James but discovering which countries/banks are supported by Paypal is a challenge since Paypal is to say the least, foggy regarding this topic. I have tried to link two personal Paypal accounts to two different banks and the status "checking" never changed in three months. I asked Paypal and they replied to me to check with my banks. I asked to my banks and none of the two knew what Paypal is.

 

[JohnLocke]

You may look into Cyprus with full nominee services and real office. You can get a PayPal account, Bank Account and what else you will need to get your business started.

 

[microboi]

You may look into Cyprus with full nominee services and real office. You can get a PayPal account, Bank Account and what else you will need to get your business started.

Thank you for the hint Admin!

 

[James Turner]

Thank you James but discovering which countries/banks are supported by Paypal is a challenge since Paypal is to say the least, foggy regarding this topic. I have tried to link two personal Paypal accounts to two different banks and the status "checking" never changed in three months. I asked Paypal and they replied to me to check with my banks. I asked to my banks and none of the two knew what Paypal is.

Is it essential that you use Paypal or would another provider work for you?

 

[microboi]

Is it essential that you use Paypal or would another provider work for you?

Paypal can greatly increase my audience since everybody uses it and it's hard to convince customers to use something new.

 

[Spinat]

If you are doing regular business online you can't come around to use PayPal - everyone is using them so huge sales los will occur if you ignore PayPal.

 

[fshore]

You can consider Labuan in Malaysia, no public records and supports PayPal.

 

[romashkavarashka]

You can consider Labuan in Malaysia, no public records and supports PayPal.

But it's relatively expensive to open a company there and to sustain it. No?

 

[fshore]

But it's relatively expensive to open a company there and to sustain it. No?

Not super cheap, but you don't need to big deposit to open bank account with local bank, usd500 initial deposit.

 

[GrumpyMess]

You can consider Labuan in Malaysia, no public records and supports PayPal.

As far as I know Labuan companies have some limitations now, you have to spend 25k on local labuan services otherwise ordinary Malaysian tax rate applies

 

[fshore]

As far as I know Labuan companies have some limitations now, you have to spend 25k on local labuan services otherwise ordinary Malaysian tax rate applies

Only for some industries.

 

[Spinat]

No substance required and account in Hungary you can get easily.

What does it mean easily? assuming personal visit is required in the bank right?

 

[microboi]

Thank you all very much for the replies!
Just a little outburst.. public records are a historical mistake that will kill economy. Director's and owner's data should be disclosed only to law enforcement and courts.
Public records are a strategy of a “war between the poor” where "transparency" is just an excuse.

 

[Spinat]

public records are a historical mistake that will kill economy.

You need to face the real world that is ever changing.

 

[andres33]

Company is regarder as a resident and due to the fact that it's managed by a professional trust company is very positive for the bank as well. Visit not required if local director manages the account. If you want to co-sign, yes.
The total costs will be many times lower than similar set-ups in countries that have trust law: Switzerland, Liechtenstein (foundation law), even Cyprus. <<snipped> But please note that Hungarian company is an onshore company paying 9% tax on profits and doing annual bookeeping.

hi Mario Have you some serious address to recommend in Hungary to set ut a company, trust, holding?

 

[andres33]

a million thanks for your reply, help and advice. I will contact this people

 

[kekmaw]

Hungary is also a good option if you use Hungarian trust as the shareholder and local director - nominee from a licensed trustee company.
No substance required and account in Hungary you can get easily.
We had few clients who did this for their operations.

Great insight but I have a question:

Generally, what does it cost to operate a Hungarian kft over a year with minimal accounting? Not asking about a trust here, just as a standalone business in Hungary.

 

[AlexAlex]

I have tried to link two personal Paypal accounts to two different banks and the status "checking" never changed in three months. I asked Paypal and they replied to me to check with my banks. I asked to my banks and none of the two knew what Paypal is.

The status "checking" usually means that your bank account got successfully linked. It just refers to that your bank account is a checking bank account. You should check if you can withdraw money.