Hi folks! I'm looking for some advice.
Let me give some context: I do a service online business in Seychelles, nothing illegal. But All clients are foreigners that come for holiday to Seychelles.
The money flows from customers that pay online or broker companies that pay on a monthly basis once service is done.
- Currently in Seychelles my company has to pay 15% Vat on all sales and 15% on business tax at the end of the year. I believe this is a rip off since i cannot claim any input vat since my business runs mostly online.
(if i make 2 million per year turnover. 300,000 will be VAT and if profit is 1 million - 150,000 will be business tax.
From what I've researched. If i open a Company in Lubuan Malaysia. With the same business Name so it looks legit. All money from my gateway can be deposited in that account etc and i will be Charged a flat rate of 3% percent Tax per year.
No vat Charged and No 15 percent business Tax.
The business will still be operational in Seychelles but it will bank only Local money or Cash basis transaction.
And also if i take a Salary from my Lubuan Company to send to my Personal account in Seychelles, it that also possible?
Is all this legal. Im new to this whole concept of offshore and would like some advice.
Let me give some context: I do a service online business in Seychelles, nothing illegal. But All clients are foreigners that come for holiday to Seychelles.
The money flows from customers that pay online or broker companies that pay on a monthly basis once service is done.
- Currently in Seychelles my company has to pay 15% Vat on all sales and 15% on business tax at the end of the year. I believe this is a rip off since i cannot claim any input vat since my business runs mostly online.
(if i make 2 million per year turnover. 300,000 will be VAT and if profit is 1 million - 150,000 will be business tax.
From what I've researched. If i open a Company in Lubuan Malaysia. With the same business Name so it looks legit. All money from my gateway can be deposited in that account etc and i will be Charged a flat rate of 3% percent Tax per year.
No vat Charged and No 15 percent business Tax.
The business will still be operational in Seychelles but it will bank only Local money or Cash basis transaction.
And also if i take a Salary from my Lubuan Company to send to my Personal account in Seychelles, it that also possible?
Is all this legal. Im new to this whole concept of offshore and would like some advice.
