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I need help choosing where to incorporate

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Max2017

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Oct 27, 2016
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#1
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Hello

I have an issue and it is not about taxes, although of course if I can pay less is always nice as long as it is legal.

So here is my problem:

I have an online business which I have been running so far as a solo trader and I paid taxes based on my income, however since I recently moved to another country (I'd rather not discuss where just because I am paranoid about privacy!) basically the bank would not lend me money to purchase a house unless I show them at least 2 YEARS of tax returns!!! I CAN'T WAIT 2 MORE YEARS!

Therefore I thought that although not the best thing to do, if I become employed of a company, then the bank will give me the loan immediately or something like that.

My issue is that lately I read that in some countries (UK for example) people can see all information about any company: directors, shareholders and even company income!! I don't want that......I need total privacy, be employed by a company, pay my taxes, get the loan, then later close the company and keep paying the loan.

So, based on that...is there a country where I can easily incorporate and the whole process is cheap and easy to do?

I though maybe UAE was the best way to go but I was wondering if there was any other option closer to Europe?

Thank you
 
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#3
Max2017 said:
as long as banks cannot see who owns the company and its financials
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are you sure about the banks? They will always see who the beneficial owner of the company - you! Otherwise they won't open an account.

Best privacy protection of them all you find with the registration of a Seychelles company, it is cheap and fast to register. No tax, no accounting and no public registry to lookup companies.
 
#4
Admin said:
are you sure about the banks? They will always see who the beneficial owner of the company - you! Otherwise they won't open an account.

Best privacy protection of them all you find with the registration of a Seychelles company, it is cheap and fast to register. No tax, no accounting and no public registry to lookup companies.
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hi, sorry I forgot some details: no I will not be the owner but a friend will be so I won't do anything dodgy (I think) and I though the best solution was that the company and my friend are in a different country from the one where I am,, so I am only concerned about the banks here.

Thanks
 
#5
Well the bank will always know the real owner, that's mandatory.
 
#6
Max2017 said:
Therefore I thought that although not the best thing to do, if I become employed of a company, then the bank will give me the loan immediately or something like that.
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Wonder why no one suggested you to setup a company in Cyprus for this purpose!?! You can get privacy, means the bank where you want the loan can't see who owns the company, and you can get employed furthermore appointing a nominee director will make sure you have some that can sign contracts etc. on behalf of the company... mission completed I say.
 
#7
ImKing said:
Wonder why no one suggested you to setup a company in Cyprus for this purpose!?! You can get privacy, means the bank where you want the loan can't see who owns the company, and you can get employed furthermore appointing a nominee director will make sure you have some that can sign contracts etc. on behalf of the company... mission completed I say.
Click to expand...

Cyprus sounds good, are you sure there is no European standard of some sort which makes company income available to the public or to non-Cyprus banks?

Thank you!
 
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#9
Depending on the agent and how you are doing it you are in control of most of it. I didn't thought it was a problem showing the Company income / turnover and profits? Why should that harm you?
 
#11
ImKing said:
Depending on the agent and how you are doing it you are in control of most of it. I didn't thought it was a problem showing the Company income / turnover and profits? Why should that harm you?
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OK let's make this clear:

I need a home loan in my country and would like that the bank where I go to ask the loan cannot see how much my employer (the company created in another country) earns, otherwise they may see the my income is everything the company earns and they may start asking questions.
 
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#12
Register the company offshore / non resident and file dormant accounts. That's the only possible solution for it.

Actually thinking about it then I will ask my agent if he knows any better method, will get back here with answers.
 
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#15
Max2017 said:
I need a home loan in my country and would like that the bank where I go to ask the loan cannot see how much my employer (the company created in another country) earns, otherwise they may see the my income is everything the company earns and they may start asking questions.
Click to expand...
The age of the Company you are employed with will play a role don't you think? Let's wait for admins reply but I know in some countries you don't have to make your turnover and profits public if it is less than €5M per year.
 
#16
Well, if the company is less than 1,5 years old there will be nothing public and if you appoint a nominee director your name will not be public anywhere nor in any reports.

Beside that you will provide only a salary certificate or a salary confirmation from your employer.
 
#18
ImKing said:
The age of the Company you are employed with will play a role don't you think? Let's wait for admins reply but I know in some countries you don't have to make your turnover and profits public if it is less than €5M per year.
Click to expand...

yes another concern of mine was/is indeed that the age of the Company could be something my local bank may check...but I doubt I can dodge that unless I buy an aged shelf company...but in that case then I would have other worries such as previous or pending legal disputes or other hidden issues that I may be inheriting by buying that company, maybe?

The issue about turnover being easily publicly available was the last one I found, just few days ago reading a website where it seems in the UK is extremely easy to check that for anyone, not just the banks.
 
#19
Max2017 said:
case then I would have other worries such as previous or pending legal disputes or other hidden issues that I may be inheriting by buying that company, maybe?
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You can buy such a company from the agent of your choice, if not I know one that has plenty of them available for sale ;)

Max2017 said:
The issue about turnover being easily publicly available was the last one I found, just few days ago reading a website where it seems in the UK is extremely easy to check that for anyone, not just the banks.
Click to expand...
Yes also for most other European countries.
 
#20
Do you earn that much to pay yourself a salary each months even if you have to pay some sort of tax?
 
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