Car Import/Export Offshore Structure

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Greetings!

I have a nice deal pulling through importing cars into EU, mid 6 figure profit EUR (depending on how many cars we agree to sell).

I don't yet have a company to do this with.- cars are to be sold to various dealerships across Europe.

As for my personal status, I am from UK going through my residency application in Spain.. I am aware this is bad news for what i'm asking, but thinking long term I have solutions to this, when I have the resources to post-1st-deal.

I’d like to set up a company structure that works in our favour of eliminating taxes for the company.

The main hindrance is time, I need to act quick, get something setup so I can begin to transact in an account for the business.
Which is why my initial thought was;

1. Set up a single member WY LLC, quick and cheap, have company instant, EIN within 2-3 weeks as i’m non-res, EMI setup within few days thru Mercury.
2. Have part of the funds dropped there (20k or so).
3. Use this 20k to get going, establish another advantageous company offshore, use nominee service to achieve corporate residency status(?)
4. Bank account for new offshore company- hope for the best turnaround, few months i've read?
5. Proceed deals with new offshore company, however assuming bank account opening will take some time- a solution during the wait would be to use the LLC as normal, billed by the new offshore company, end of year profit eliminated, so tax liabilities are not passed on to me.- all whilst waiting.

So basically i'm trying to use the LLC short-term, as it favours a quicker bank account setup time/is good for my resources, + then use initial profits received to setup the most advantageous offshore trading entity, and get a bank account for it, (that will take it's sweet *** time i've read) to further use that company long-term for these deals.

What do you guys think?

Questions that come to mind;

- What’s the ideal offshore jurisdiction(s) / solution(s)?
- Bank Accounts to go with the offshore company that can be setup in good time?
- Can I use nominees to attain certain residency status’s for the offshore jurisdiction? Or is this just a fantasy of mine?
- Should I be worried about using an LLC like this?
- Am I missing anything?- Are there any holes in my logic?
 

Jerry1911

Entrepreneur
- What’s the ideal offshore jurisdiction(s) / solution(s)?
There is no such thing.

- Bank Accounts to go with the offshore company that can be setup in good time?
Too broad of a question.

- Can I use nominees to attain certain residency status’s for the offshore jurisdiction? Or is this just a fantasy of mine?
If you're a UK or Spanish tax resident, it's a fantasy.

- Should I be worried about using an LLC like this?
Yes.

- Am I missing anything?- Are there any holes in my logic?
Yes, pretty much everything you are planning on doing does not work in 2020 and will get you in trouble with Spanish tax authorities.

I suggest opening a Spanish SL company if you're planning to be a tax resident of Spain.
 
Greetings!

I have a nice deal pulling through importing cars into EU, mid 6 figure profit EUR (depending on how many cars we agree to sell).

I don't yet have a company to do this with.- cars are to be sold to various dealerships across Europe.

As for my personal status, I am from UK going through my residency application in Spain.. I am aware this is bad news for what i'm asking, but thinking long term I have solutions to this, when I have the resources to post-1st-deal.

I’d like to set up a company structure that works in our favour of eliminating taxes for the company.

The main hindrance is time, I need to act quick, get something setup so I can begin to transact in an account for the business.
Which is why my initial thought was;

1. Set up a single member WY LLC, quick and cheap, have company instant, EIN within 2-3 weeks as i’m non-res, EMI setup within few days thru Mercury.
2. Have part of the funds dropped there (20k or so).
3. Use this 20k to get going, establish another advantageous company offshore, use nominee service to achieve corporate residency status(?)
4. Bank account for new offshore company- hope for the best turnaround, few months i've read?
5. Proceed deals with new offshore company, however assuming bank account opening will take some time- a solution during the wait would be to use the LLC as normal, billed by the new offshore company, end of year profit eliminated, so tax liabilities are not passed on to me.- all whilst waiting.

So basically i'm trying to use the LLC short-term, as it favours a quicker bank account setup time/is good for my resources, + then use initial profits received to setup the most advantageous offshore trading entity, and get a bank account for it, (that will take it's sweet *** time i've read) to further use that company long-term for these deals.

What do you guys think?

Questions that come to mind;

- What’s the ideal offshore jurisdiction(s) / solution(s)?
- Bank Accounts to go with the offshore company that can be setup in good time?
- Can I use nominees to attain certain residency status’s for the offshore jurisdiction? Or is this just a fantasy of mine?
- Should I be worried about using an LLC like this?
- Am I missing anything?- Are there any holes in my logic?

You need to clarify your residency status.

If you are currently resident and domiciled in the UK, then there is no way to legally make your plan work in the short term. You need to sever your residency with the UK first. After that, you can deal with the corporate structuring issues.
 
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