HOW TO OPEN AN OFFSHORE COMPANY, I AM FROM ITALY?

[ItalianMan]

Hi, I am new in this forum.

I am opening an online business with other associates,

- the business is 100 % online ( no real product getting delivered or sold), but only online services.

- we are 5 associates, all italians, but 2 of them have the fiscal residence abroad ( Russia Dominican Republic).

- In our business we don't need a headquarter or offices, but it involves only smart working.

We want to open a company offshore compatible with an online business, fiscal advantages, and able to pay our freelancers with Paypal or others services.

I want to get advices and help.

IT WOULD BE INTERESTING TO HAVE A TRUSTABLE PERSON FOR A LONG TERM COLLABORATION, HELPING US N FOLLOWING US IN THIS ADVENTURE, GETTING PAID MONTHLY OF COURSE,

 

[Eric schaefer]

Please enlighten me More if you don’t mind..I would be interested if I can understand you properly.

 

[ih8socialism]

Offshore company is not the big thing, but getting the money personally out of it is

 

[ItalianMan]

Please enlighten me More if you don’t mind..I would be interested if I can understand you properly.

We need an offhore company bank account where to receive microtransations, from 15 euroes to 200 euroes each.

From this company bank account we also need to send payment to our freelancers worldwide, transactions always lower than 1000 euroes.

I want to understand if it is difficult to move the money out of this bank account in case of the distribution of the dividends.

 

[ItalianMan]

Offshore company is not the big thing, but getting the money personally out of it is

We need to pay our freelancers from this offshore bank account, so it is important to be able to move these money.

for the distribution of the dividends, 2 associates have the FISCAL residence abroad, so they will pay a taxation based on their country

 

[Shaoling]

We need to pay our freelancers from this offshore bank account, so it is important to be able to move these money.

for the distribution of the dividends, 2 associates have the FISCAL residence abroad, so they will pay a taxation based on their country

Have you read about Estonian e residence? All your associates can apply to them and create a company in Estonia.. with real banks.. not online entities..

But It will depend on tour business model..

 

[ItalianMan]

Have you read about Estonian e residence? All your associates can apply to them and create a company in Estonia.. with real banks.. not online entities..

But It will depend on tour business model..

it looks interesting, is there a way we can talk more about this ?

 

[Shaoling]

Bro I dont provide such service... but there is plenty of information about it in Google.. someone even told me that you should do it by yourself without intermediaries.. cause there is plenty of scammers out there.

I am a software provider with forex and crypto solutions.. in my case my customers requires license in Estonia for this kind of business..

So I work with other offshore entities like saint Vincent.. marshall island.. vanuatu.. and more.. but this offshore countries wont work for a business bank account..

You have the option of creating an UK company cause is cheap and easy, but if you have a decent budget I reccomend you Estonia, cause UK is a problem for banking from abroad.. and also taxes are high..

 

[Shaoling]

E-resident.gov.ee is the official website and you can apply from there.. I now people from latin america and asia using it..

 

[JustAnotherNomad]

Estonia is not a tax haven. Not sure what that recommendation was about... Then you can also register a company in Italy.

 

[ItalianMan]

The associate that have the russian fiscal residence,have the russian nationality as well? if yes,does he have another nationality?
Because opening a bank account for a company with a russian involved will be fucked up bro,they are blacklisted

NO he has Italian nationality, but he lives in Russia because he married a Russian

 

[totoro]

You can try the Bulgaria option: company is taxed based on its place of registration, which is Bulgaria, and it's 10% CIT + variable salary/dividends tax, but also not so high. Maintenance is cheap,

 

[JustAnotherNomad]

You can try the Bulgaria option: company is taxed based on its place of registration, which is Bulgaria, and it's 10% CIT + variable salary/dividends tax, but also not so high. Maintenance is cheap,

It’s not so easy. You need to look at Italian law and the DTA as well. You can bet that it won’t work without substance in Bulgaria. And with all shareholders being Italian, it will be very difficult to make something like that work. There would most likely be permanent establishment in Italy.

 

[totoro]

It’s not so easy. You need to look at Italian law and the DTA as well. You can bet that it won’t work without substance in Bulgaria. And with all shareholders being Italian, it will be very difficult to make something like that work. There would most likely be permanent establishment in Italy.

I referred to the fact that the Italian founder lives in Russia. In case of Italy yes, it's hardly monitored, and ddt need to be analysed.

 

[JustAnotherNomad]

Russia might not check as much, but I think they are looking for a structure that is both legal and works for Italian residents?

 

[clemens]

Russia might not check as much, but I think they are looking for a structure that is both legal and works for Italian residents?

Don't you think that you can send a few thousands to a auth. guy and they will close the eyes? I believe that would work, Russia is the most corrupt country in the world, but it is legal.

 

[JustAnotherNomad]

A friend who lives in Russia told me the following joke:

Merkel, Macron and Putin are having a meeting. Merkel: “It’s strange. In our country, people have a salary of €4,000, but they can only spend €2,000.”
Macron: “I know what you mean! In France, our people have a salary of €3,500, but they can only spend €1,700!”
Putin: “Oh, you think that’s weird? That’s nothing! In our country, people have a salary of €500, but they can spend €10,000!”

I’m not sure if you even have to bribe someone, if we’re not talking millions.

 

[onemansomewhere]

Hi, I am new in this forum.

I am opening an online business with other associates,

- the business is 100 % online ( no real product getting delivered or sold), but only online services.

- we are 5 associates, all italians, but 2 of them have the fiscal residence abroad ( Russia Dominican Republic).

- In our business we don't need a headquarter or offices, but it involves only smart working.

We want to open a company offshore compatible with an online business, fiscal advantages, and able to pay our freelancers with Paypal or others services.

I want to get advices and help.

IT WOULD BE INTERESTING TO HAVE A TRUSTABLE PERSON FOR A LONG TERM COLLABORATION, HELPING US N FOLLOWING US IN THIS ADVENTURE, GETTING PAID MONTHLY OF COURSE,

Before making any reasonable advise, few questions has to be answered:

1. What will be a company annual turnover?
2. How much will be a business costs and expenses, annualy?
3. Describe more details about a product
4. Are you an your associates willing to travel to sign some papers to a foreign country if needed?
5. How long is associate from dominican republic living there?

After answering a questions, some advise can be given..

 

[Txaxandlxaxwxyxexr]

Hi, I am new in this forum.

I am opening an online business with other associates,

- the business is 100 % online ( no real product getting delivered or sold), but only online services.

- we are 5 associates, all italians, but 2 of them have the fiscal residence abroad ( Russia Dominican Republic).

- In our business we don't need a headquarter or offices, but it involves only smart working.

We want to open a company offshore compatible with an online business, fiscal advantages, and able to pay our freelancers with Paypal or others services.

I want to get advices and help.

IT WOULD BE INTERESTING TO HAVE A TRUSTABLE PERSON FOR A LONG TERM COLLABORATION, HELPING US N FOLLOWING US IN THIS ADVENTURE, GETTING PAID MONTHLY OF COURSE,

First. The business must be manage from offshore even if you put a company between you all and the customers, if not you will have trouble about tax inversion (in italian you could look on it researching esterovestizione) as soon as the audit on you.

Second. Some of you associated could consider to acquire a second residency (changing tax residence) in a low tax country (if you want to stay close to home, you could look more on cyprus, malta, ireland. I would start to compared those countries before look further to others. Someone also take into account bulgaria (no so low tax, 29% taxation) and Lituania (30% taxation) because of lifestyle and low cost of leaving. If someone want to go even further, like south est asian, solutions are much better, some long term visas, like philippines visa, for example, give you complete tax exemption on specific types of income, and someone try to plan his contracts and revenue in order to make the income into these exemptions (but if an audit happen you should give evidences of your titles for the exemptions).

Thirth. CRS (in italian you could look on it researching scambio di informazioni) will put in your state table every information about your income abroad if you choose a bank (for you or for the company) in a crs state.

 

[CaptK]

He said he has a shareholder in the DR. BINGO!!!! As he lives there he is the local partner. He registers the company and is simply your "Nominee". He is paid a salary which he declares to the DR authorities. He can expense his life through the company as benefits. Part of his contract.

Ofcourse you have your side agreement on the actual shareholding. As all funds are earned outside the country you are not liable for any tax. Ideally just set up individual sub accounts use the company card as your own.

Plus any banking issues are covered because he lives there and knows the place very well.
You couldn't have asked for a better scenario. For your friend in Russia he will have to use a different address than a Russian one. Or else he stays off the records but has an agreement with all of you.