Offshore consulting ideal setup

[Gs2019]

Hi guys! I want to setup an offshore business in financial consulting ( i am already employed therefore i want to keep this activity private and tax free ) i am an eu resident, invoices would range between 10-20k/month.
Can you please recomend me the 'ideal setup' to hit the right balance between costs and ease of access to funds? I plan to use the funds for holidays and maybe real estate
Best regards

 

[Sols]

Just copying what I wrote in another thread: Why not incorporate a local company and use a local bank? Or relocate to a tax haven?

Maybe an obvious question but one I think not enough people ask themselves when they start researching tax havens. In this day and age of automatic information sharing and increased transparency, I'm struggling to understand what benefits people see with offshore companies (without an offshore substance as well) and proper tax planning.

You're most likely either going to end up having to pay tax where you live or, if you don't do that, risk committing a serious crime. Tax evasion is now a predicate crime for money laundering in many jurisdictions. Good luck buying a house with undeclared, untaxed funds held in a dodgy offshore bank account.

 

[Bmw850]

Just copying what I wrote in another thread: Why not incorporate a local company and use a local bank? Or relocate to a tax haven?

Maybe an obvious question but one I think not enough people ask themselves when they start researching tax havens. In this day and age of automatic information sharing and increased transparency, I'm struggling to understand what benefits people see with offshore companies (without an offshore substance as well) and proper tax planning.

You're most likely either going to end up having to pay tax where you live or, if you don't do that, risk committing a serious crime. Tax evasion is now a predicate crime for money laundering in many jurisdictions. Good luck buying a house with undeclared, untaxed funds held in a dodgy offshore bank account.

Exactly. Nowdays offshore jurisdictions are not worth like in that, easy and cheap set up but then hard to find banking or processing.
You need privacy? Use nominees or trust.
You need low tax? Create a network of companies and play the game if invoices.
A company in a normal jurisdiction will just allow you to find banking and all the tools to make grow your business and earn money.
At my opinion, and with the relevant situation ( blacklist, exchange treaties..) an exotic offshore find its use for asset protection or similar needs but not to make business.

 

[Remy]

Exactly. Nowdays offshore jurisdictions are not worth like in that, easy and cheap set up but then hard to find banking or processing.
You need privacy? Use nominees or trust.
You need low tax? Create a network of companies and play the game if invoices.
A company in a normal jurisdiction will just allow you to find banking and all the tools to make grow your business and earn money.
At my opinion, and with the relevant situation ( blacklist, exchange treaties..) an exotic offshore find its use for asset protection or similar needs but not to make business.

Do you have examples of invoices that could be acceptable by accounters, Tax department and which amount could be nice ? I mean consulting invoices are limited in value for a standart SME, invoices related to import of goods involve accounting problems and are not really valuable as an expense (but asset) for the company which pay the invoice, until goods are sold (could be difficult) or depreciation in value. Some ideas for invoicing an SME ?