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Need low-end structure for EMI/bank that doesn't report to passport country.

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for a side project... abandoned websites/communities that i'll redo just for fun, want to place ads/sell space/paid reviews etc on the spare time. Maybe building apps to grow some of them.
all stuff that isn't profitable right now, so just need a cheap solution.
to sum it up, i'd like to build a global brand, a web/media agency. and list those website in its portfolio.
If needed will pay remote contractors to do the grind stuff. No employees, no real office.
I want to keep the thing separated from my other main businesses.

EU citizen.

- EMI+company where? Scotland LP still works with emi? also what combination of EMI-company do you use for such low incomes, that doesn't make too much of a fuss?

- can also have USA LLC and even business bank account there for cheap if I really want.
afaik usa are not exchanging back information to eu coutries yet. I kind of trust USA as i'm not their citizen, they seem busy enough chasing worldwide incomes of their citizens :D

But before going the USA route, just want to know if there are still hidden gems / cheap solutions in europe like the old scottish lp (i mean easy to open, cheap to maintain, without too much details to enter, lax accounting...)

I'm fine as long as it doesn't report to my passport country. the low profit will not be a problem in any case, but if it's not reported is way better.

Need it to be easy to open and cheap to maintain, it's just a spare time hobby.
I don't mind to fiddle a bit with virtual addresses and mail forward if needed for it to work, as long as the thing will stay cheap and quiet for 1/2 years.
I just need to work on the thing, build a brand and slowly turn it into a web agency if/when I need it.
Also in the meantime being able to accept money from ads/businesses, if it comes.

no 2/3k structures please, it's simply not worth right now, will upgrade later. need something cheap just for starting up.
 
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hmmm, why not simply buy a anonymous ready made company for this project.

There is not a real workaround for your reporting problem, however, as you say it is an hobby business you won't make a lot of money on this and you don't really care about the reporting if there should be any! So why not simply pay the tax that may (or may not) apply for this hobby project and good is?

In that case you could simply open a cheap £1 UK company open an EMI account for it and everything is done for £50 ! it's a win win situation!
 
hmmm, why not simply buy a anonymous ready made company for this project.

There is not a real workaround for your reporting problem, however, as you say it is an hobby business you won't make a lot of money on this and you don't really care about the reporting if there should be any! So why not simply pay the tax that may (or may not) apply for this hobby project and good is?

In that case you could simply open a cheap £1 UK company open an EMI account for it and everything is done for £50 ! it's a win win situation!

yeah it's a long thing to explain... I'm ping-ponging between countries and need to be careful where I'm spending my days (for tax residency). Any indicia my passport country gets as a "presumption of residency", troubles will come. I'm already spending too much time there. Call me paranoid, a friend still paying lawyers...

It seems there are still many EMIs that doesn't adhere to CRS. If they don't ask for the Tax id number, then pretty sure they will not report and it's just for KYC formalities. When they ask for the TAX ID though... close everything and take the money out asap.

Cheap ltd (or similar) + one of these emis would be good enough.

I also double checked the USA thing and yes, I would be safe doing this as a USA LLC+ corporate bank account there. As today, US banks don't report corporate accounts to EU countries, only personal, and it's not going to change soon. Also I could get a paypal US account that way...
 
I also double checked the USA thing and yes, I would be safe doing this as a USA LLC+ corporate bank account there. As today, US banks don't report corporate accounts to EU countries, only personal, and it's not going to change soon. Also I could get a paypal US account that way...
yes that's true with the US banks. However, there is so far no EMI mentioned anywhere (I have seen) that is located in the USA and that open accounts for foreigners! So how will you go about it. USe a Delaware company and open an EU EMI account? not sure if that would work have not tested it but may be possible!

When you say cheap! I assume there is nothing cheaper than a simple US LLC or a UK LTD however, they require accounting and filing of a tax report which can be costly at the end of the year! Have you considered that?
 
How do you setup a Delaware company and apply for any US EMI account? I have not found and EMI provider in the USA yet! if anyone find one please post here :)

There is NEAT that some users here claim work with US corps bu I don't believe it's a good solution but it may be the only one!
 
Talking right now with a few EMIs to workout a "cheap" solution between Ireland/UK, I mean EU company, EU EMIs... might move back to UK soon or get a non-dom residency somewhere, and call it a day.
Don't like what london is becoming and wouldn't like to go back there, but business is business!
Also there are a few other countries giving lots of tax reliefs for new companies in poor areas... all has to be factored in!

The USA solution I listed above is good, got info from people at EU Parliaments, they voted to suspend FATCA from Europe to US cause USA is sending NOTHING ahahahah
they told USA to reciprocate and gave them a date, june 2019 iirc, after that the US will be added to EU black list.
So maybe 1 year of safety. But if USA would start to report in june 2019, they would send infos about 2018's bank accounts...
So I have mixed feelings about this.
 
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