Looking for consultancy in terms of business incorporation

Wissam

New Member
Hi All,

I live in the UK. However, I don't have a residency permit ( Lebanese national) yet and it might take up to 3 months. Me and my British partner have started an online business where we sell SAAS on a subscription base but our business still under development and we're not expecting to start receiving any money until March 2020.

We have an agreement and signed term sheet that I will be owning 51% equity of the incorporated business we will establish, and therefore your inputs and advise on the follow below would be highly appreciated:
  • What's the best place to open a company along with business bank account to access toUK and EU market ( Our target focus) where we can accept payments online?
  • Since we're starting from scratch, what would be the best reliable country with few tax ( Corporate and income ) or even null for our SAAS online business?
I am a bit lost and I am really seeking a professional advise from the experts with my sincere appreciation for any helpful comments.

Thank you in advance

Wissam
 

Martin Everson

HNWI Offshore Consultant
Business Angel
Mentor Group
Yeah to be honest unless you have substantial income I would not worry about tax at this stage.

Btw will you be electing to be taxed in UK as a resident non-dom? It is something to consider and talk through with a tax advisor.
 

Wissam

New Member
Yeah to be honest unless you have substantial income I would not worry about tax at this stage.

Btw will you be electing to be taxed in UK as a resident non-dom? It is something to consider and talk through with a tax advisor.
Thanks Martin. I won't be taxed at this point but I will later when I get my residency permit. Any advise on what time of company I should consider? LLP or LTD? Thanks again :)
 

Martin Everson

HNWI Offshore Consultant
Business Angel
Mentor Group
Any advise on what time of company I should consider? LLP or LTD? Thanks again :)
Plain Limited company will do. Then open an account for it with all the below:

Starling Bank
Monzo Bank
Monese
Cashplus
Transferwise
Revolut

Then your good to go. Anticipate 50% of those banks/EMI's will close your account after a while for no specific reason or go out of business.
 

Wissam

New Member
Plain Limited company will do. Then open an account for it with all the below:

Starling Bank
Monzo Bank
Monese
Cashplus
Transferwise
Revolut

Then your good to go. Anticipate 50% of those banks/EMI's will close your account after a while for no specific reason or go out of business.
Hahahah, what an encouragement and great push mate :)
 

WoWNull

Trusted Member
Business Angel
Entrepreneur
If you are in UK and you will open LTD or LLP in UK just go for a street bank in UK.

depends on your SaaS you can go for Stripe, most SaaS are accepted unless its violating their terms so just check with them, otherwise, there is a very good choice like molle, worldpay etc.. most of them accept people in UK or in EU in general
 
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