Hungarian/BVI setup

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Mmkm

New member
Hello
What is your thoughts about this setup,

Hungarian company invoices my EU clients.

The shareholder of my Hungarian LLC is my BVI company with nominee shareholder and directors.

- The BVI cash out.


Please let me know what can be improved
 

KDX

OffshoreCorpTalk Addict
Entrepreneur
Hi. Can you answer the following so people here can help you better?

1. Your citizenship(s)
2. Where you are resident or tax resident (can be multiple)
3. Are you willing to relocate to minimize tax?
4. Are you aware of the following terms: UBO, AEOI, CRS, FATCA, PE (Permanent Establishment), Tax residency, Effective management & control?

Anyways, with the limited information you've given to us, it's really a guessing game as to how well this would work. Do you have enough money to first of all keep a BVI structure? And what is the reason for having it? Do you have any idea as to what kind of bank you'd be working with?

So the BVI is a holding company of the Hungarian LLC/Ltd? What is the goal here?
In case you didn't know, nominee shareholders/directors won't give you anonymity from the governments that will be receiving a yearly CRS report with all the information about the UBO (you).

Your companies will be tax resident and/or PE where you are resident (effective management and control). Nominees won't fool the governments if they realize you are running such an enterprise.

In many cases, unless you want to get caught by your tax authority a few years down the line or spend a lot of money, these kind of structures by themselves won't do much good, that's why you may want to relocate if you want to be "legit".

This setup can work if you're in let's say, Nevis or something. But if you are running this from like Germany or something, good luck!
 

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