Digital nomad offshore comp + EMI set-up... help :(

Hello,

I've been watching this forum for the past month or 2 to gather some knowledge that could help me on my journey, I thought I could clear up any questions myself but it just seems to have done the opposite, with the mass amount of information so i'm reaching out to the community for a bit of advice specific to what I'm in search for.

I'm a British born citizen, somewhere half in between being a resident of Spain (thanks Brexit) and currently residing on the South Coast of Spain since 2017 and have been a world traveling nomad for the last 4 to 5 years. I've been working in digital marketing as a freelancer during this time, currently I am marketing for businesses across Scandinavia and Europe, and North America.

The next step for me is to utalise an offshore company set up for all the wonderful tax benefits. It's not for the purpose of holding assets, or storing vast amounts of wealth (perhaps in the future yes). But for now, It's simple, pure and straight up for the legitimate operation of a digital business across many countries that allows me to benefit from my jurisdiction non resident tax status, that allows me to pay myself a minimum to keep in-line with my residing countries tax thresholds and distribute dividends to myself how I please. Sounds simple right?!

JURISDICTIONS
Seychelles- From my reading, i've gathered that Seychelles is favorable, and looks easy to set up with a Mister Tango account. However i've heard some horror stories of Mister Tango in the recent weeks which is turning me off. How does Seychelles differ to BVI, which is more preferred in 2019? For me, understanding current affairs with these jurisdictions and where they're heading into the future is important.

Europe- What are the most favorable non-resident 'onshore' Euro-jurisdictions? I hear people say Hungary, Cyprus, Georgia. My info and sources are all over the place so any advice will be noted. I live around 30 minutes out from Gibraltar, so it would be kind of neat to be incorporated there. Does anyone know if Gibraltar is favorable still with Brexit going on?

BANKING
EMI- As I said earlier, from what i've read recently on Mister Tango I do not want to put my money with them, if there's a strong alternative EMI that operates with Seychelles incorporation i'd like to know.
I'm a big fan and long time user of Revolut personal accounts, and I understand if I get a Euro-jurisdiction, I can use Revolut no problem. This is beneficial to me receiving dollars.

My situation has 2 paths, Euro-jurisdiction paying a little bit of tax, or Seychelles/Similar with a strong EMI that I can trust.

I understand this gets asked SO MUCH!! So apologies in advance boys, and I see that there is a mentor group here, but I just wanted to put the feelers out to see what the current affairs are, or if anyone is having similar questions.

One last thing, Is there any piece of the puzzle i am missing that will catch me out in the future with these setups i'm talking about?

My mind and ears are open
Thank you :)
 

sialala

Building Trust
Entrepreneur
Very good thread. I am watching and wating for updates, especially in case of EMI and an offshore setups.
 

TurnedToRobot

Trusted Member
Business Angel
It is easy to setup an account with ePayments, Mister Tango and Kraken for a Seychelles or Belize company, just go a head and get it done.
 

fshore

Trusted Member
Business Angel
Are you a non UK tax resident? If so then set up UK ltd and take a salary that is not taxable in the UK.
 

sialala

Building Trust
Entrepreneur
It is easy to setup an account with ePayments, Mister Tango and Kraken for a Seychelles or Belize company, just go a head and get it done.
But he should setup copmany with the darks and EMI with darks ?
Setup on the darks and EMI on own name ?
Setup with shareholder and nominee director and EMI with business account ?
Setup with shareholder and nominee director and EMI on own name ?

How it should looks like to be the safest ?
 

Larry

Banned User
BANNED MEMBER
Entrepreneur
But he should setup copmany with the darks and EMI with darks ?
Setup on the darks and EMI on own name ?
Setup with shareholder and nominee director and EMI with business account ?
Setup with shareholder and nominee director and EMI on own name ?

How it should looks like to be the safest ?
I think you need to dig deeper a little bit because It looks like it's not 100% clear for you what darks are :D
Nominees don't protect your privacy 100% they are just there to hide your name from company register but you have a contract with them and should ever a government or somebody else ask them they will expose you.
When you go with darks you have 100% privacy but you need to setup it right with top tier darks that means no fakes or photoshop. You need real person that is providing you with their identity. A little bit more pricey but 110% my recommendation because absolutely safe and absolutely privacy!
 

TurnedToRobot

Trusted Member
Business Angel
When you go with darks you have 100% privacy but you need to setup it right with top tier darks that means no fakes or photoshop
the same BS you post over and over again. Fuck it!

If someone want to know about the secrets, check the Mentor Group which may shed some light on what is possible in regards to anonymity. Just think about what you are doing before you jump into it.

OP the below seems to be a valid suggestion to you, if you need something legit and easy to setup and the below apply for you then go that route.
Are you a non UK tax resident? If so then set up UK ltd and take a salary that is not taxable in the UK.
 
Are you a non UK tax resident? If so then set up UK ltd and take a salary that is not taxable in the UK.
Okay this is the first I'm hearing of this, my knowledge is so uninformed and limited on this, as I've always assumed my countries tax status was horrible.

So, if I set up a UK LTD, does this mean;
1. All of the foreign income payed to this company is not taxed at the businesses level?
Or;
2. The salary I take from the company will not be taxed on a personal income level?

I'm assuming number 2 is the case you're talking about. If just number 2, would it be an option to set up a Seychelles comp and a UK LTD that is invoiced by the Seychelles comp, so the UK LTD turns no profit to avoid company tax in the UK?

If this is possible, are there any risks to this kind of set up? In terms of being ID'd and having a hefty bill placed on my head?

Thanks again guys, and apologies my knowledge is not so comprehensive with these things.

I believe I am going to sign up to the Mentor Group, I just want to test the waters with a few weeks of conversation here first to see what I can understand.

FYI, the reason I'm uninformed and looking for guidance is the growth has kind of came out of nowhere, In the next 12 months I'm going to be receiving sums of 20k-50k USD every 3-4 months from the work in North America, and I'm about to launch my other business to a bunch of different markets in Europe so my European income will begin to increase gradually.
This rise in cash-flow is all happening at the same time and is well above anything I've ever made before hence why I want a good structure that accommodates all my ventures and my personal status in the present and into the future.
 

fshore

Trusted Member
Business Angel
A UK company is taxable on its worldwide income. But you as non uk tax resident wouldn't have to pay tax on your salary income, and the salary will reduce your company's profit. You can for example take a 10k monthly salary paid gross for your services.
If you have a really huge income then maybe a tax free solution will be better for example Gibraltar.
 

sialala

Building Trust
Entrepreneur
I think you need to dig deeper a little bit because It looks like it's not 100% clear for you what darks are :D
Nominees don't protect your privacy 100% they are just there to hide your name from company register but you have a contract with them and should ever a government or somebody else ask them they will expose you.
When you go with darks you have 100% privacy but you need to setup it right with top tier darks that means no fakes or photoshop. You need real person that is providing you with their identity. A little bit more pricey but 110% my recommendation because absolutely safe and absolutely privacy!
I thought when You are talking about darks You mean about fake docs :p
Can I hit You in priv @Larry ?
 

LucyOffshore

Banned User
BANNED MEMBER
A UK company is taxable on its worldwide income. But you as non uk tax resident wouldn't have to pay tax on your salary income, and the salary will reduce your company's profit. You can for example take a 10k monthly salary paid gross for your services.
If you have a really huge income then maybe a tax free solution will be better for example Gibraltar.
Will this still stand with brexit coming soon?
 

AND2

Building Trust
Entrepreneur
Aha I'm in a similar situation. Non UK tax resident + Spanish tax resident.

Going from my ignorance you set up a UK ltd and you won't get taxed there. But then the Spanish tax man comes around:
1- Did you get a salary from that cpy? yes hence you pay the massive Spanish taxes so you win nothing
2- Do you own that UK ltd? yes hence per Spanish tax law the cpy activity happens in Spain, hence it's taxed in Spain & 75% of the cpy income is considered 'hidden' salary and you are back to point 1

So I am probably missing sthg but either the UK or Spain will fry you at 45-ish% tax brackets...
 

fshore

Trusted Member
Business Angel
Aha I'm in a similar situation. Non UK tax resident + Spanish tax resident.

Going from my ignorance you set up a UK ltd and you won't get taxed there. But then the Spanish tax man comes around:
1- Did you get a salary from that cpy? yes hence you pay the massive Spanish taxes so you win nothing
2- Do you own that UK ltd? yes hence per Spanish tax law the cpy activity happens in Spain, hence it's taxed in Spain & 75% of the cpy income is considered 'hidden' salary and you are back to point 1

So I am probably missing sthg but either the UK or Spain will fry you at 45-ish% tax brackets...
Yes, but from my understanding OP is not Spain tax resident.
 

LucyOffshore

Banned User
BANNED MEMBER
A UK company is taxable on its worldwide income. But you as non uk tax resident wouldn't have to pay tax on your salary income, and the salary will reduce your company's profit. You can for example take a 10k monthly salary paid gross for your services.
If you have a really huge income then maybe a tax free solution will be better for example Gibraltar.
Yes brexit will not affect this.
And are there any limits on this? What's stopping someone from giving themselves 100k monthly salary.
 
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