Need some structure assistance

[LordBandwidth]

Hey everyone,

I’m new here. I’ve looked around a lot but haven’t found anything that quite fits my situation — if this has been discussed before, feel free to point me in the right direction, I’d really appreciate it.


A while back, I set up a UK Ltd company to run some consultancy work, mainly moving money over from my other projects. But now I’m realizing that setup isn’t really working for me — mainly because of privacy issues and it not looking good on paper.


I’m trying to figure out how to set up an offshore private company that’s much more private — ideally with banking that doesn’t require CRS reporting, or at least where corporate records aren’t super easy to dig up.
Also, instead of selling my time through consultancy, I’d rather structure it around something like an intellectual property asset — maybe a software platform or an AI system — so it’s more scalable and less tied directly to me.


If anyone has advice, suggestions, or knows someone good I could talk to about this, I’d really appreciate it. Thanks a lot!

 

[Martin Everson]

I’m trying to figure out how to set up an offshore private company that’s much more private — ideally with banking that doesn’t require CRS reporting, or at least where corporate records aren’t super easy to dig up.

Not so easy these days. Banking in Puerto Rico as an option but now some offshore jurisdictions are forced by OECD to automatically share corporate data with home country of beneficial owner(s) where the company has no economic substance.

Thread 'Twelve no/low tax countries share data on companies with no substance with UBO's country'

Jan 7, 2022

Since March 2021 twelve countries now automatically share information on companies with no economic substance and where beneficial owners are non-resident. I think non-resident folk with companies in the below countries may be in for a letter from their tax man.

Anguilla
Bahamas
Bahrain
Barbados
Bermuda
British Virgin Islands
Cayman Islands
Guernsey
Isle of Man
Jersey
Turks and Caicos Islands
United Arab Emirates

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Tax transparency moves forward as no or only nominal tax jurisdictions first exchange information on the substance of entities​

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• Martin Everson
• aeoi information sharing tax oecd
• Replies: 51
• Forum: Tax, Accounting, Licensing & Legal

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Also, instead of selling my time through consultancy, I’d rather structure it around something like an intellectual property asset — maybe a software platform or an AI system — so it’s more scalable and less tied directly to me.

Will make no difference if privacy is your concern.