Best location for a Canadian resident to register their online consulting business

[EddyMatch]

Hello, Im looking to set up a new company & would appreciate your guidance.

Canadian resident, with an online consulting business managed from Canada
Clients based in Canada & USA

Looking for a office-shore company set-up with simple filing & low taxation

So far it seems like a Wyoming LLC would be the best choice for my situation

I understand as I have no in-person presence within the US, the taxation is passed on to where I live

Will Wyoming and/or the US business bank account report back to Canada?

Is it possible to have a holding company in a low tax area that owns my Wyoming LLC?

Thank you very much for your advice

 

[Fulton Abraham Sanchez]

Hello, Im looking to set up a new company & would appreciate your guidance.

Canadian resident, with an online consulting business managed from Canada
Clients based in Canada & USA

Looking for a office-shore company set-up with simple filing & low taxation

So far it seems like a Wyoming LLC would be the best choice for my situation

I understand as I have no in-person presence within the US, the taxation is passed on to where I live

Will Wyoming and/or the US business bank account report back to Canada?

Is it possible to have a holding company in a low tax area that owns my Wyoming LLC?

Thank you very much for your advice

Eddy, hi. WY is an option. US bank account will not report to Canada. If the income is US source, you should pay taxes in the US filing a personal tax return by year end. You will also need to apply for US a tax ID number to file. Forming an offshore entity will not make it for taxes because the offshore entity will have to register and file a return paying taxes 21% and you will pay another 15% when receiving dividends from the company.

 

[hernanday]

Hello, Im looking to set up a new company & would appreciate your guidance.

Canadian resident, with an online consulting business managed from Canada
Clients based in Canada & USA

Looking for a office-shore company set-up with simple filing & low taxation

So far it seems like a Wyoming LLC would be the best choice for my situation

I understand as I have no in-person presence within the US, the taxation is passed on to where I live

Will Wyoming and/or the US business bank account report back to Canada?

Is it possible to have a holding company in a low tax area that owns my Wyoming LLC?

Thank you very much for your advice

If this is an income producing company you are doing it all wrong, there is very limited such benefits for a Canadian with a wyoming registered firm that is mainly income generating.

For a Canadian, find low income tax countries in the Caribbean who have signed Tax Agreements with Canada like Barbados, Bermuda, etc that allow you to basically bring the money back into Canada tax free or very low tax like 2%.

Wyoming is good for asset protection, but not for tax.