Ecommerce/Shopify Business - Belize, BVI, Seychelles? Bank Account In Cyprus?

[604WeekendWarrior]

Hello everyone

I've very new to this offshore industry and I've been searching the site but I'm starting to get information overload. Hoping the community can help steer me in the right direction.

I'm a Canadian citizen living in Malaysia on a work visa. On the side, I've created a dropshipping e-commerce site, very little income so far. Right now my store is registered to my Canada address and I want to move that to an offshore jurisdiction. I also want to use this opportunity to get a bank account in a SEPA zone.

I have been looking into using Offshore Company Formation - We form your offshore company here but I'm not sure which country would best suit my needs.

I want to set up in a country where I don't have to report accounting but other than that, are there any other benefits of choosing one country over the other? For cost reasons, I'm debating between Seychelles & Belize.

Any input would be hugely appreciated.


(Back to the information overloading/data collecting....)

 

[negon]

Well in todays world you can't avoid CRS and other reporting unless you go the dark path!

If it's just accounting you want to avoid to report you can simply choose a Belize corp. it's at least still the most anonymous offshore company entity one can create!

 

[fshore]

As you're in Malaysia maybe consider Labuan? Still have to do accounting and audit.

 

[negon]

I assume OP has already found a solution after all this time

 

[tyler55]

If you file as a non-resident in Canada you don't have to pay canadian tax. Does anybody have any solutions to this? Belize IBC with any payment processors that work for Belize?