Offshore bank for digital nomad?

[Jean Dupuis]

Hello,

what bank ( and where to create the company) do you recommend for digital nomal?
Someone who travel every 2 month in different country and make money by online adverstising.

Thank by advance

 

[laurie]

There is no point you need to express your country of residence and where you make business.

 

[Jean Dupuis]

Thanks for your reply ( bis,),
I stay mostly in Asia and south America,
and my business is in Europe.

 

[mnschwarz]

You still need to have a country of tax residence. If you try to claim no tax residence, you will usually be seen to be a tax residence from your country of citizenship or last domicile and may end up with a lot of back-taxes and fines if caught out. At the very least, you need to claim a country for opening a company and bank accounts.

On a very basic level your company will usually find it easier to have a bank account where you do business and personal accounts where you live or spend a lot of time. Beyond that we need a lot more info to provide any decent advice.

 

[Jean Dupuis]

You still need to have a country of tax residence. If you try to claim no tax residence, you will usually be seen to be a tax residence from your country of citizenship or last domicile and may end up with a lot of back-taxes and fines if caught out. At the very least, you need to claim a country for opening a company and bank accounts.

On a very basic level your company will usually find it easier to have a bank account where you do business and personal accounts where you live or spend a lot of time. Beyond that we need a lot more info to provide any decent advice.

Thank for your reply,
i know my situation is strange but the last years i made 3 worlds tours so i never stay more than 3 month in a country so i don't see where should i declare my business.

 

[mnschwarz]

Thank for your reply,
i know my situation is strange but the last years i made 3 worlds tours so i never stay more than 3 month in a country so i don't see where should i declare my business.

I completely understand. I've been a nomad for 6 months myself. If you have no new tax residency, you'll usually find most jurisdictions accept your last or birth domicile as your tax residency. It may be worth looking in to gaining legal residency in a favourable jurisdiction to cover yourself should you ever need it. Panama is a great option if you qualify for the friendly nations visa.

 

[Jean Dupuis]

oki thanks for all your information,
financial institutions worth it for banking system?
From what i read is outside of the CRS

 

[user9823671]

How much money are you making?
5 figures?
6 figures?

Basically the situation is difficult.

Do you never go home?
The countries you work from, are you on tourist visas?
Do you want to be 100% legal
Do you mind some grey areas?


Just be warned it is not as simple and easy as many websites that sell you IBC + bank accounts will lead you to believe. You cannot just say "I have a 0% tax jurisdiction corporation, I don't have to pay tax".


If you income is not huge, you can just go with your personal paypal to your home country bank who probably won't tax you as you are non-resident citizen and the countries where you travel to don't care.

For big money, it is not the best, but if for modest sums is fine (although perhaps not 100% legal, but not illegal, more like grey area. But depends on your home country (everything goes out the window if you are from US )

 

[diablo]

What's the point here if I can ask you?