Forming a Company for an online Business

Discussion in 'Welcome to the Offshore Company Forum' started by Daviding, Dec 31, 2012.

  1. Daviding

    Daviding Offshore Agent

    Hi and Thanks for reading my post.

    I can see that there are many experts here who are offering good advice and I hope that some will offer me some too! Please...:) 45 Views so far but no comments, interesting!

    I am from the UK and currently Employed in the UAE. I have started a Business Online which is based around Advertising revenue as a primary source of income, although others will follow in time. It is a small start-up which has just started to break even now and I have two employees who are freelance one works part time (Techie) from the USA and the other full time (Marketing and Admin) from the Philippines.

    At the moment the expenditure and revenue is matched at around $1,000 a month but I am increasing the development and expect this to multiply significantly in the coming months/year. Everything goes through my UK Personal Bank Account and so I've reached a stage where any increase will likely be liable for Tax and I do not wish to get involved with that so need and want to start a Company Offshore!

    Currently Google pay me by Electronic Funds Transfer (EFT) and only provide this service in certain Countries, but I do want to organise payments in this way. Also I pay my staff for their services through PayPal, although when buying websites I use my Personal Bank here in the UAE.

    Just trying to give the full story here so any help can be very specific, thanks.

    I have looked at many websites offering incorporation and have had quite a few chats online but still not quite found the advice that can help me make a final and correct choice.

    What I want is to start a Company that I can work with no matter where I am living in the world. I may be here in the UAE for another year or not? I may find my next Employment is in Europe or My Business may well pick up to the point that I don't need Employment ever again! That is the ideal.

    I want to keep things as cheap as possible but also I need to use the tools mentioned above. I am an honest person but at the same time I disagree with the way most of the world has structured Tax and so wish to use the systems that are available to me without breaking any laws.

    I live and work in a Tax Free Country, but Incorporation here is expensive and restrictive and often reliant on living here in some ways. I am not permitted to have a Business while I work for my current Employer which is a Semi-Government Body. OHHH Life can be complicated.

    So can you please advise me on which place/country is best suited for me to get a Company Started, including opening a Bank account there too! I have had a good look at Seychelles and places like that including RAK free zone here in Dubai, but I keep coming back to Receiving payments from Google which is my main revenue source at the moment, and I'm leaning towards Hong Kong now? I did want to keep my ownership private but as long as I'm 100% legal, mostly because I travel and will possibly move and live in various different Countries in the future, then I'm happy to be visible.

    I was wondering what Double Taxation implications would apply to me and my Business and also how Hong Kong relates Information to the UK due to its History?

    Please advise and I will give any information needed to clarify things.

    Thanks very much for reading my Post.

    David :)
    Last edited by a moderator: Jan 1, 2013
  2. nelsonhimes

    nelsonhimes Corporate Services Business Angel

    Woahhh! You have asked about some huge information, I did get something but not sure. So I would also like to have an answer from the present members of this thread.

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