Offshore company recommendation (existing company, PayPal)

[urbanus]

Thank you for taking the time to read my thread and possibly giving me some advice.

I currently own a business in Belgium, selling virtual products to customers across the world but mostly the US and the EU. I'd like to move my business to a less taxed country, such as the Seychelles.

Requirements:
- Corporate tax as low as possible, preferably 0%
- No obligation to pay VAT
- No accounting obligations
- Ability to have merchant PayPal account
- Bank account (multi-currency preferably) with Visa/Mastercard

Questions:
Will the Belgian taxman make a problem of this in any way?
Is it legal for me to just move my business to another country?
Will I have to set up a new company or can I just change the location?
Can I transfer intellectual property to this new company without fees?

 

[negon]

Will the Belgian taxman make a problem of this in any way?

Yes, unless you can proof the company is managed and controlled in the jurisdiction of it's location.

Is it legal for me to just move my business to another country?

Yes it is, you just need to pay your taxes locally or make use of double tax treties.

Will I have to set up a new company or can I just change the location?

Most register a new company since it is way easier and cheaper, but you can relocate your company.

Can I transfer intellectual property to this new company without fees?

Yes and most often it makes good sense to do so.

 

[Newworld]

A good advice:
I know the laws in Belgium and I also have customers there.
If I were you I would choose to start an external company in a paradise country.
Would not make a link between the company and Belgium and another country.
On this forum you can find the necessary information to start a business.
I speak your language so I think we understand each other well.


Regards

 

[urbanus]

Yes, unless you can proof the company is managed and controlled in the jurisdiction of it's location.


Yes it is, you just need to pay your taxes locally or make use of double tax treties.


Most register a new company since it is way easier and cheaper, but you can relocate your company.

Yes and most often it makes good sense to do so.

Thank you for your solid advice!

A good advice:
I know the laws in Belgium and I also have customers there.
If I were you I would choose to start an external company in a paradise country.
Would not make a link between the company and Belgium and another country.
On this forum you can find the necessary information to start a business.
I speak your language so I think we understand each other well.


Regards

Is it illegal to avoid taxes this way in Belgium?

 

[Newworld]

It depends
How long your company already exists


regards

 

[urbanus]

It depends
How long your company already exists


regards

It was established in 2015

 

[Newworld]

If your company has not made much profit yet, then it is not a problem to switch.
If so, I would take the option to start an Off company.

regards

 

[incognith0]

If you transfer your profits to Belgium that's the moment you are obligated to pay taxes ,you could use offshore and just pay yourself a dividend and pay 15% tax on this ,
yes if you sell to EU you may need to pay VAT - to US its VAT free ,for digital goods it's usually competing on VAT - means if someone pays legally VAT he is not able to compete with you if you dont pay it (since VAT is 19-25% in europe)... thats why revenue offices always exemine this sort of businesses at some stage. VAT applies if you make turnover in Belgium its 15,6k euro a year ...

 

[negon]

You may check with an tax specialist in your country. Most countries have adopted the taxation of worldwide income regardless if you hold the funds using a offshore company on offshore accounts or how you are doing it.

 

[Okanda Fernando]

Belgium is better i think

 

[negon]

I would go with Malta over Belgium.