offshore company formation, seeks help

[myhand]

Okay so, i'm a European Citizen but I mostly live in Asia - but I also go to Latin America sometimes... basicly, everywhere it's cheap and life is good, you'll see me.


The problem i'm having in my home country, and a few neighboring european countries is with bank accounts etc.


I called a few banks to apply for an account with a Visa / Mastercard linked to it, unfortunately they can't issue me one unless I show them proof that I am paying taxes IN the country where the bank account is located. I can only get an account with a normal debit card linked to it, and in the long run, if they see i'm receiving thousands of dollars/euro every month, they'll want to me to pay taxes.


As a temporary solution to this i'm using the prepaid Payoneer Mastercard.


I am not paying taxes, of course. I receive all my money from offshore companies (affiliate payouts).


I figured out I better form or buy an Offshore Company, get a bank account with Visa / Mastercard and wire all my affiliate payouts directly offshore company's account.


1) Has anyone got experience with this? Where is your offshore company located?


2) Do I really need to form or buy an offshore company, or could I just open an offshore bank account as an individual and bank safely this way?


3) What are your experiences?


My first choice would be HONG KONG.


Any advice?


My list:


1) Hong Kong


2) Seychelles


3) Delaware, USA (i'm not American so no taxes?!)

 

[Zqq]

Hong Kong is an excellent jurisdiction for this, as it applies territorial taxation and a company can thus easily become exempt from all taxation there. It may be difficult to get a personal credit card from Hong Kong as a non-resident person, but HSBC, BOC, and other banks issue company cards to non-residents.


Depending on in what country you are tax resident and the tax legislation there, you may still be liable for tax even though you shift your income to a Hong Kong company.


You can open a personal account easily in for example Belize, Switzerland, or St. Vincent if you do not want to form a company.

 

[hugger]

I called a few banks to apply for an account with a Visa / Mastercard linked to it, unfortunately they can't issue me one unless I show them proof that I am paying taxes IN the country where the bank account is located.


1) Has anyone got experience with this? Where is your offshore company located?


2) Do I really need to form or buy an offshore company, or could I just open an offshore bank account as an individual and bank safely this way?


3) What are your experiences?


My first choice would be HONG KONG.


Any advice?


My list:


1) Hong Kong


2) Seychelles


3) Delaware, USA (i'm not American so no taxes?!)

I have NEVER been asked to show proof of paying tax. (I can only assume that you are mentioning the fact that you are not paying tax to the banks when you are talking to the banks. You need to be more discrete!).


As to questions 1, 2 and 3 I suggest that you read some of my other posts. (Just click on my name and look up my previous posts). I have accounts in Hong Kong with Hong Kong and BVI companies.