Offshore Company Formation for Online Content Creator

[MB1845]

Hi everyone,

I am a self employed online content creator and a resident of the UK. I earn an average of $10,000 (paid in US$ by US companies) per month (4 different companies).
I'd like to form an offshore company for obvious tax reasons but I am having a hard time finding a company that can help me with that. Ideally to be registered in BVI or Belize (but I am open to other options). Another requirement of mine is to be able to open a bank account that deals in US$.

Any information or guidance is welcome.

Thank you

 

[TurnedToRobot]

No too bad, you may easely be able to setup a company in either BVI or Belize, however, in order to get a bank account or EMI you will need to have something setup either as a real company withe real office or you go to shitholes like Georgia as discussed on this forum a lot of times and bank there.

I doubt they are able to handle US$ but it is worth to look into it. Alternatives are EMI's and Cyprus banking which you also can find endless threads on this forum about.

 

[MB1845]

Thanks Kanakke.
Do you know of any UK based companies that offer a offshore company set up package with a bank account?
I think I should stick to US$ since that's the currency that I'm being paid in and GBP is too volatile atm.

 

[myhand]

You should read signatures from users here and you would easely find what you are looking for.

Welcome aboard

 

[James Turner]

Hi, Creating a company in BVI or Belize and arranging a bank account for you business should not be an issue as your activity is not high risk. I would opt for Belize rather than BVI as it has a marginally better reputation. I am not sure what legitimate tax benefits you feel may be possible as a UK resident and I would suggest checking that how you intend to operate is legal but in essence the company can be formed and banking can be arranged.

 

[user9823671]

Hi everyone,

I am a self employed online content creator and a resident of the UK. I earn an average of $10,000 (paid in US$ by US companies) per month (4 different companies).
I'd like to form an offshore company for obvious tax reasons but I am having a hard time finding a company that can help me with that. Ideally to be registered in BVI or Belize (but I am open to other options). Another requirement of mine is to be able to open a bank account that deals in US$.

Any information or guidance is welcome.

Thank you

As you are resident in the UK with no reason to have a BVI / Belize corporation and your business is run from the UK, then your business regardless of where is incorporated will be considered tax resident in the UK (from what I understand).

Simply setting up a belize account, doesn't mean you can pay 0% tax like that. If so, every plumber / electrician would be setup as such.

If you were not planning on informing the authorities (ie. tax evasion, higly illegal) that is a different thing and you didn't state as such. But still, I believe there are agreements between many governments know and you will not be 100% private / anonymous to avoid penalities. You may go undetected, but that is a risk.

Even if you get it all setup, another factor not often discussed, how to you intend to get your funds from the business to you without bring attention to yourself. If an offshore bank of an offshore company is regularly making transfers to your personal account, it doesn't take a genius to work out what is going on.

If you did want to go the illegal route, there are methods available, but I believe they are not allowed to be spoken about on the public board, but a bit of reading of threads is going to find out what they are

 

[TurnedToRobot]

To setup a BVI company requires alot of paperwork and documentation. In fact, it sucks big times to setup a BVI company. Tried two times and both times I gave up. The requirements to information and documents are overwhelming.

 

[abdulkaddir]

Opening a BVI company is actually a headache, lots of rules and regulations. But still give it a try, what if you come through everything at a time.

 

[TurnedToRobot]

Opening a BVI company is actually a headache, lots of rules and regulations. But still give it a try, what if you come through everything at a time.

Then you can be happy, but I believe that during the next year and ongoing years the requirements to setup and maintain a BVI company will be increasingly difficult to comply to.