Best offshore jurisdiction for a classifieds site

[AHK84]

Hi All,

Firstly admin please change the location of this post if it is in the wrong location.

I am looking for the best offshore jurisdiction ideally something I can register for under 1000USD, but also looking for a payment processor that would accept such a jurisdiction without charging me an arm and a leg, am looking at setting up a classifieds website nothing dodgy or illegal but due to low margins I don't want to pay too much tax on the income, I was told I can register a company in Belize for 500USD and another 500USD for a bank account but not sure if there are any payment processors that would provide services for the site, your advice and assistance is greatly appreciated.

Many thanks
AHK

 

[wellington]

You’d have to pay tax in your home country for the company unless you move to Belize also…

 

[AHK84]

Hi wellington,

Many thanks for the rapid response, I own a holding company in Gibraltar and it would be thee UBO of the new company/website and as per the Gibraltar rules there is no tax if I repatriate the profits if incurred outside of Gibraltar hope this sheds some more light, your advice is highly appreciated.

 

[Sols]

A company cannot be UBO. You are the UBO.

@wellington is right that the Belize or whatever company becomes tax resident where you live, unless you live in a tax haven.

Payment processing and offshore companies don't go hand in hand anymore. Go back to 10–15 years and it was quite easy to get a merchant account for an offshore company. Nowadays, that's practically impossible. People get around it by accepting very high processing costs to gray market solutions, and/or form a subsidiary in for example US, EU, or UK which in turn opens merchant accounts and acts as a payment agent company.