Best country to incorporate in with minimal initial/recurring paperwork

[sjaanStaak]

Like the title says: I'm looking for a country wherein I can remote incorporate and do the bare minimum of required paperwork.

The services im going to be doing from the company are IT related (marketing) and taking payments in crypto (I don't mind abiding by AML/CTF/KYC, but I need the least amount of hassle required and KYC preferably not too extreme and not too intrusive). Cheap is a nice to have.

Any ideas?

 

[Sols]

I wouldn't recommend basing choice of jurisdiction on minimal paperwork, especially if you don't also plan to live there. Having proper finances will help you figure out how to handle tax if/when the company is considered tax resident where you live.

What most people do is they just outsource the paperwork to someone. Especially in jurisdictions where there is a lot of paperwork or even mandatory audits, there is usually a lot of service providers to choose from, and competition drives down costs.

 

[Don]

Like the title says: I'm looking for a country wherein I can remote incorporate and do the bare minimum of required paperwork.

The services im going to be doing from the company are IT related (marketing) and taking payments in crypto (I don't mind abiding by AML/CTF/KYC, but I need the least amount of hassle required and KYC preferably not too extreme and not too intrusive). Cheap is a nice to have.

Any ideas?

Look into Estonia - a popular destination for IT companies and startups. By obtaining e-residency (estonian digital id for non-residents) you can free yourself of ever needing to visit notaries and you can do everything digitally including company formation or forming a branch of a foreign company.
For quick setup you can obtain a ready made company (shares of the company can be transferred without notarization).
Crypto payment processing facilities are available with zero compliance burden. No audit required by default.
Corporate tax is 0% until profit distribution. Currency is EUR with great banking options. Minimum share capital is 1 cent.
Outsourcing management and backoffice is 2-3x cheaper than UAE, Cyprus, UK, etc.

 

[AndyAresa]

Look into Estonia - a popular destination for IT companies and startups. By obtaining e-residency (estonian digital id for non-residents) you can free yourself of ever needing to visit notaries and you can do everything digitally including company formation or forming a branch of a foreign company.
For quick setup you can obtain a ready made company (shares of the company can be transferred without notarization).
Crypto payment processing facilities are available with zero compliance burden. No audit required by default.
Corporate tax is 0% until profit distribution. Currency is EUR with great banking options. Minimum share capital is 1 cent.
Outsourcing management and backoffice is 2-3x cheaper than UAE, Cyprus, UK, etc.

Thanks Don, this is interesting.

Crypto payment processing facilities are available with zero compliance burden. ---------- what crypto processing providers without compliance burden do you have in mind?

Currency is EUR with great banking options. ---------- what are the banking options? I heard Estonian banks would not open accounts for companies with no clients in Estonia or another relation to Estonia.

 

[JustAnotherNomad]

Make sure you have a plan for getting money out from the Estonian company paying as little tax as possible - there's a risk of quite substantial taxes.
You'll also want to make sure the company isn't taxed where you live. Just having some cheap nominee may not be enough.

 

[Don]

Thanks Don, this is interesting.

Crypto payment processing facilities are available with zero compliance burden. ---------- what crypto processing providers without compliance burden do you have in mind?

Currency is EUR with great banking options. ---------- what are the banking options? I heard Estonian banks would not open accounts for companies with no clients in Estonia or another relation to Estonia.

Check Swapin for crypto payments.
Its worth noting that Estonian companies dont require local bank accounts. Most people with shell companies (minimum substance) open accounts with EMI-s, and in EU there are hundreds of options to choose from.
For opening bank accounts it can be helpful to build some substance and work with a qualified advisor.