Best jurisdiction for an Internet business

[Pyer]

Hello everyone.

I am interested in setting up an offshore company in a low or no-tax jurisdiction for my Internet business, but I do not know which one is the best for me.

I own a website which produces revenue by selling online advertising and backlinks to other companies.

The website has a global audience.

I also need a bank account to be used outside that jurisdiction without hassle.

I am a citizen of a country in Latin America with residence-based taxation.

Which jurisdiction would you recommend?

Any help would be greatly appreciated.

Thank you in advance.

 

[Tax Cow]

If by any chance the business is reputable, consider trading under your own name. Having a company does not make sense unless you have employees/partners, or if you need to raise capital. If you want to sell the website, just hand over your copyrights to the buyer - something very easy to do.

Relocate your a*s to one of the Caribbean islands that has no personal income tax, or to a country like Costa Rica or Paraguay that does not tax foreign-earned income.

Offshore corps are losing momentum. An unsophisticated consumer from any part of the developed and semi-developed world should avoid them for general business purpose. Stamp duty evasion is one of the few remaining legitimate use-cases of offshore corps, but even that is getting harder to do in many parts of the world as countermeasures are being put in place.

 

[Pyer]

Thank you very much for your informative post.

My website sells online advertising and backlinks to companies including some from Paraguay.

If I lived in Paraguay, I am guessing that income would be taxable and the rest of the income wouldn't.

Am I correct?

 

[Tax Cow]

Yes, correct. Furthermore, if you have some clients from Paraguay, you can fairly easily open an account in a proper bank.

 

[Pyer]

Thank you again for your excellent advice.