Company and bank account for a non resident.

[thedirtyteller]

Hello, I have a newly created adult-related website for literature that I will soon be launching. I'm completely new to the idea of having a company and bank offshore, and I need some guidance/consultation for this.

I live within Europe with a passport from one of the Northern European countries. I don't want the company here though for privacy reasons. I've read some good things about Latvia. I sent an email to two different banks and a website that help foreigners set up companies in Latvia. I was of course told that setting up a company there as a foreigner was easy but most likely the banks there didn't want to deal with non-residents.

I have been thinking of a non-CRS country like Montenegro, North Macedonia or Georgia but even Romania, Malta and Cyprus are on the list. I don't mind flying over to the country if they would like to see me in person, so it doesn't have to be done remotely. I also don't want to have a load of paperwork/bureaucracy towering over me. Any ideas or suggestions?

In short, I want a company and a bank in another country where I'm not a resident and with some degree of privacy. It doesn't have to be done remotely. I will go there if necessary.



Best regards, Dirtyteller.

 

[shitcoinbro]

Adult related you probably don't want to be in a traditionally minded place like Georgia or any of those very religious places.... Perhaps something in Latin America or some place like South Dakota or Wyoming?

 

[thedirtyteller]

Adult related you probably don't want to be in a traditionally minded place like Georgia or any of those very religious places.... Perhaps something in Latin America or some place like South Dakota or Wyoming?

I didn't know Georgia was particularly religious. I do want to stick within Europe and close by, travelling overseas is not an option.

 

[Zlatan]

Remotely can be done: UAE - RAK company + bank account in Montenegro. Re the funds flow to Montenegro account, the respective bank should be consulted / adult literature as means of selling goods as such should not be a problem - generally speaking.

 

[Tamarind]

Banking in Montenegro, lol!! From your name I see you are from Montenegro/Serbia/Ex-YU and on both your two posts you are peddling Montenegro banks, stay away people !!

 

[cyprusbanker]

Banking in Montenegro, lol!! From your name I see you are from Montenegro/Serbia/Ex-YU and on both your two posts you are peddling Montenegro banks, stay away people !!

can you explain why?

 

[Tamarind]

can you explain why?

Come for a visit in Montenegro, since you are a Banker maybe checking Banks live before recommending them is very advisable.

The country is in perpetual state of religious montenegro-vs-serbians civil war since last year's elections.

And yes I live in Montenegro 2-3 months a year, every year.

 

[thedirtyteller]

Remotely can be done: UAE - RAK company + bank account in Montenegro. Re the funds flow to Montenegro account, the respective bank should be consulted / adult literature as means of selling goods as such should not be a problem - generally speaking.

Thanks for the recommendation, but I went for Romania because of their suprisingly low taxes and ease of setting it up with a law firm. They also must have the lowest deposit rate in all of europe: 40 euro.

 

[Ready Offshore]

Hello, I have a newly created adult-related website for literature that I will soon be launching. I'm completely new to the idea of having a company and bank offshore, and I need some guidance/consultation for this.

I live within Europe with a passport from one of the Northern European countries. I don't want the company here though for privacy reasons. I've read some good things about Latvia. I sent an email to two different banks and a website that help foreigners set up companies in Latvia. I was of course told that setting up a company there as a foreigner was easy but most likely the banks there didn't want to deal with non-residents.

I have been thinking of a non-CRS country like Montenegro, North Macedonia or Georgia but even Romania, Malta and Cyprus are on the list. I don't mind flying over to the country if they would like to see me in person, so it doesn't have to be done remotely. I also don't want to have a load of paperwork/bureaucracy towering over me. Any ideas or suggestions?

In short, I want a company and a bank in another country where I'm not a resident and with some degree of privacy. It doesn't have to be done remotely. I will go there if necessary.



Best regards, Dirtyteller.

there are many options, I recommend you Romania.

 

[Zlatan]

Thanks for the recommendation, but I went for Romania because of their suprisingly low taxes and ease of setting it up with a law firm. They also must have the lowest deposit rate in all of europe: 40 euro.

My proposal is RAK UAE (0% CIT) + Montenegro account (zero tax - foreign source of income). Romania is Ok if you need more companies and more jurisdictions to use. Also - Cypriot LLC (foreign shareholders / foreign source of income = 0% CIT) + Montenegro account (zero tax - foreign source of income). Romania is ok as you can set up the company and open bank account remotely as well. CIT in Romania is 16% which can be reduced further. Note that in Montenegro (in case of local company) CIT is only 9% and in Serbia is 15% for example. In Bosnia and Herzegovina is 10% (but you cannot open the bank account remotely, as far as I know)...

 

[webmachinist]

As tempting as it seems Romania will not be an option. There is a recommendation from the Romanian National Bank to all the private banks in the country which tell them to avoid any operations related to adult sectors, gambling, pawn shops etc. Even if you will be able to open an account chances to be closed sooner or later are big. No bank will accept adult related income in your business or personal account right now.

 

[Cetme308win]

BVI/PANAMA/BELIZE company + URUGUAY/SPAIN bank account....
That should work

 

[thedirtyteller]

As tempting as it seems Romania will not be an option. There is a recommendation from the Romanian National Bank to all the private banks in the country which tell them to avoid any operations related to adult sectors, gambling, pawn shops etc. Even if you will be able to open an account chances to be closed sooner or later are big. No bank will accept adult related income in your business or personal account right now.

Really? Where have you heard about such thing? Are you sure you are not mistaken Romania from Bulgaria, because I know in Bulgaria P**N is illegal.

 

[webmachinist]

Just try and open a bank account in Romania and you will see I'm right. Even it's just a recommendation from National Bank and not an actual law you will find it's impossible to maintain an account with an adult related business. You will be able to open it but when they will realize that the income is from adult related activities they will politely invite you to close it and withdraw your money. First were the bigger banks doing this but now even the smaller ones have the same policy. Of course you can try to fly under the radar but as a company it will be hard to keep the accounting right and dissimulate your income sources.

 

[Zeljko]

My proposal is RAK UAE (0% CIT) + Montenegro account (zero tax - foreign source of income). Romania is Ok if you need more companies and more jurisdictions to use. Also - Cypriot LLC (foreign shareholders / foreign source of income = 0% CIT) + Montenegro account (zero tax - foreign source of income). Romania is ok as you can set up the company and open bank account remotely as well. CIT in Romania is 16% which can be reduced further. Note that in Montenegro (in case of local company) CIT is only 9% and in Serbia is 15% for example. In Bosnia and Herzegovina is 10% (but you cannot open the bank account remotely, as far as I know)...

Hi Zlatan
Can xou contact me PM
Need ask you

 

[cyprusbanker]

OP any feedback on how this was going for you?

 

[thedirtyteller]

OP any feedback on how this was going for you?

I'm still at square one. I need a business and a bank account as a non resident for now. I don't mind moving there in the future or visiting the country to open a bank account, but it will be adult related.

Just try and open a bank account in Romania and you will see I'm right. Even it's just a recommendation from National Bank and not an actual law you will find it's impossible to maintain an account with an adult related business. You will be able to open it but when they will realize that the income is from adult related activities they will politely invite you to close it and withdraw your money. First were the bigger banks doing this but now even the smaller ones have the same policy. Of course you can try to fly under the radar but as a company it will be hard to keep the accounting right and dissimulate your income sources.

What if the company in Romania will own a company in let's say Hungary that then deals with the adult related stuff. The business will have two sites, one adult related and one that is not. I'm thinking of keeping the non adult related in Romania and let that own a business in let's say another country that is friendly toward adult related stuff

 

[sonato]

Romania company I read can be very beneficial if you find someone that is able to help you with the entire setup i.e. office, staff etc.

 

[thedirtyteller]

Romania company I read can be very beneficial if you find someone that is able to help you with the entire setup i.e. office, staff etc.

Yes, I was already in the process of forming it with a law firm. But my issue is that what I'm planning on doing will be adult related ... partially

 

[sonato]

Yes, I was already in the process of forming it with a law firm. But my issue is that what I'm planning on doing will be adult related ... partially

and the lawyer does not like Adult content only in his spare time ?