Newbie, with a couple of questions.

[masterfulmuse]

Hello, I have just joined as a member, I only discovered this forum 5-6 days ago and have been thoroughly reading.

As the world changes regularly (legislations and laws etc) I feel maybe some of the information I have been consuming could be outdated, so I thought it's probably best to ask instead.

I have a few questions--

1. say I wanted to start an online business, managing other people's accounts. (adult niche)

What would be the best option to make sure everything runs smooth, as in:

What country should I register the business? I am still a little unsure how everything works.

I would like to pay 0 tax however I will like to use an EMI with a card as I'd like to travel freely (and UAE for registering is out of the question) as payments would come from onlyfans, those kind of websites.

or is it?

2. I am a little confused as how is tax payed for EMI's? especially if they have a debit card attached to them.

Ideally, I would like an offshore business registered (where I can provide contracts to the talent that have some backing behind them to ensure obligations are met) I would like to pay very little to no tax, and I would like it all to be LEGAL. (adult business)

so, 0 tax, adult emi, legal.

Suggestions? Sorry if it came out wrong.

and for those wondering, I am based in Australia.

I would like to get it all sorted early on, so later down the line it wouldn't become a hassle.

Thanks.

 

[JohnnyDoe]

Move out of Australia and read less fantasy web literature.

 

[masterfulmuse]

Move out of Australia and read less fantasy web literature.

That's the plan-- but your response moves me along the board exactly 0 steps.

How is this a helpful response rather then critiquing someone with a willingness to learn?

Also, the fantasy web literature (the information I have provided above, is directly from this website.)

 

[bountymounty]

I'm afraid your best valid option is relocating to another country where the tax and life style suites you.

 

[masterfulmuse]

I'm afraid your best valid option is relocating to another country where the tax and life style suites you.

I completely agree (I have every intention to move)

However I'm looking for suggestions on what country to register the business in (not necessarily move there) etc.

UPDATE: perhaps I may have been unclear

I have every intention of getting out of australia as soon as possible. This is why I'm on this website asking for suggestions to suit my plan.

I would ideally like to live in UAE

BUT, im afraid an onlyfans / other adult content websites paying to an EMI > to my UAE bank will eventually be noticed by unwanted eyes.

It is precisely why I am asking for suggestions here.

Thanks all!

 

[bountymounty]

it depends on what your profits are and what you are willing to invest in your new future.

I know a few guys around here are happy with the Bahamas, others have relocated to Switzerland and those go cheap to Romania and Bulgaria.

The point is, if you search the forum such topics there are plenty of them. It most often comes down to what life style you expect.

 

[Martin Everson]

so, 0 tax, adult emi, legal.

You got an up hill battle with that one . You may want to compromise a little in your strategy.

 

[masterfulmuse]

it depends on what your profits are and what you are willing to invest in your new future.

I know a few guys around here are happy with the Bahamas, others have relocated to Switzerland and those go cheap to Romania and Bulgaria.

The point is, if you search the forum such topics there are plenty of them. It most often comes down to what life style you expect.

I see.

as of now, I'd like to take baby steps.

I would

You got an up hill battle with that one . You may want to compromise a little in your strategy.

Any suggestions? wouldn't mind paying low tax. 1-10% is basically 0 in the grand scheme of things anyway, especially when you take into account assets and investments etc.

 

[Martin Everson]

Any suggestions? wouldn't mind paying low tax. 1-10% is basically 0 in the grand scheme of things anyway, especially when you take into account assets and investments etc.

Well the tax part you cannot get around if you remain in Australia and you may already know this. Also operating any business at arms length (i.e structuring it so you don't appear on records) would also be cumbersome.

However, if you are willing to take the plunge then setup a company in i.e Estonia with a website. Then use Verotel to process adult payments and Cosmopayment to pay adult workers if that is how you want to do it. With an Estonian company you would only be subject to corporate tax on distributed profits and not on salary you pay yourself as a non-resident. Now importantly in your case you would still be liable for tax in Australia for this companies activity while you remain there. But this would at least allow you to run the business until you can move to tax friendly country and move out of your existing tax net.

If the business does not work out wind things down and move on. I would not think about low tax or zero tax until the business has revenue.

1. say I wanted to start an online business, managing other people's accounts. (adult niche)

Managing other peoples accounts is very high risk even for adult content due to risk of human trafficking. There are people that traffic women for cam work and lock them up in a room and force them to work. Such women don't see the money they earn if it goes directly to a manager. It is a clear red flag when someone else asks to receive the funds and not the worker .

P.S Maybe I got your intentions wrong and you are just taking a managers fee after worker directly receives payment.

 

[masterfulmuse]

Well the tax part you cannot get around if you remain in Australia and you may already know this. Also operating any business at arms length (i.e structuring it so you don't appear on records) would also be cumbersome.

However, if you are willing to take the plunge then setup a company in i.e Estonia with a website. Then use Verotel to process adult payments and Cosmopayment to pay adult workers if that is how you want to do it. With an Estonian company you would only be subject to corporate tax on distributed profits and not on salary you pay yourself as a non-resident. Now importantly in your case you would still be liable for tax in Australia for this companies activity while you remain there. But this would at least allow you to run the business until you can move to tax friendly country and move out of your existing tax net.

If the business does not work out wind things down and move on. I would not think about low tax or zero tax until the business has revenue.




Managing other peoples accounts is very high risk even for adult content due to risk of human trafficking. There are people that traffic women for cam work and lock them up in a room and force them to work. Such women don't see the money they earn if it goes directly to a manager. It is a clear red flag when someone else asks to receive the funds and not the worker .

P.S Maybe I got your intentions wrong and you are just taking a managers fee after worker directly receives payment.

Thank you very much for your response. I really appreciate it.
And yes, I would be getting payed a % of their payment (they would pay me, on a trust basis and legal binding document, hence the whole "legal" mention above.)

 

[benbao]

You need to consider that onlyfans will not pay out money to you but only the actual model, furthermore it has to be to a bank in the models country of residence.

If you want legal adult and low tax it's only EU and USA. If your bank account is with emi or a high street bank makes no difference for taxes.

 

[TheCryptoAnt]

I would ideally like to live in UAE

Id keep anything haram outside of UAE.

TH will suit you better.

 

[masterfulmuse]

You need to consider that onlyfans will not pay out money to you but only the actual model, furthermore it has to be to a bank in the models country of residence.

If you want legal adult and low tax it's only EU and USA. If your bank account is with emi or a high street bank makes no difference for taxes.

can you explain the tax part?
Say I registered my details under an EMI.. le'ts hypo go with Bankera, and I travelled around constantly

where do I pay taxes?
That's the grey area I'm a little confused about, as I'm not a resident anywhere else.
Someone above recommended to set up in Cyprus, but at the end of the day.. what if the money never leaves Bankera? Hypothetically speaking, of course.

Id keep anything haram outside of UAE.

TH will suit you better.

Think so too. Thanks for your response.

 

[bigdaddyleon]

I know someone who currently lives in Dubai & manages Onlyfans models, he has a Freezone company & an American LLC, through the American LLC he lets himself pay the fees of his models, after that he charges himself marketing costs through his Freezone
If this can ever cause problems, it is impossible to predict.

 

[benbao]

can you explain the tax part?
Say I registered my details under an EMI.. le'ts hypo go with Bankera, and I travelled around constantly

where do I pay taxes?
That's the grey area I'm a little confused about, as I'm not a resident anywhere else.
Someone above recommended to set up in Cyprus, but at the end of the day.. what if the money never leaves Bankera? Hypothetically speaking, of course.

You will pay taxes where the beneficiary of the payment is a tax resident. Be it a company or you personally. You will always be a tax resident somewhere, if you can't prove your tax residency by all likelihood your home country will consider you a tax resident.

If it would be so easy to just receive the money in another country and live happily ever after tax free why would anyone still pay any tax at all?

 

[bigdaddyleon]

If it would be so easy to just receive the money in another country and live happily ever after tax free why would anyone still pay any tax at all?

Because most are attached to their home country and or not self-sufficient and afraid abroad?
Anyone can live tax free if they want..

 

[JohnnyDoe]

Because most are attached to their home country and or not self-sufficient and afraid abroad?

This and the boiling frog problem.
Also known as inertia: the tendency to resist changes in their state of motion. Which is the same reason why politicians keep becoming worse and worse and all what people do is complain a bit.

Speed scares, inertia kills.

 

[benbao]

Because most are attached to their home country and or not self-sufficient and afraid abroad?
Anyone can live tax free if they want..

Yes anyone can, but not by opening a bankera account and doing a 1 month holiday in bali...

 

[maxmoney]

I know someone who currently lives in Dubai & manages Onlyfans models, he has a Freezone company & an American LLC, through the American LLC he lets himself pay the fees of his models, after that he charges himself marketing costs through his Freezone
If this can ever cause problems, it is impossible to predict.

Sounds like a fully legal way to me?

 

[bigdaddyleon]

Yes anyone can, but not by opening a bankera account and doing a 1 month holiday in bali...

There was also talk that the topic creator wants to emigrate and had as an example the UAE
Nowhere was the talk of 1 month Bali vacation

Sounds like a fully legal way to me?

I personally think there will be no problems in the future, especially because Dubai is also very western.