I am a Canadian citizen living in Mexico on a 4 year temporary resident permit.
I own a media company incorporated in British Columbia (BC Corporation). Before moving to Mexico, I appointed a BC resident as director to keep the company in good standing.
However, I am thinking about closing the company and opening a new one offshore. If I decide to move out of Mexico later, I would not have to make major changes.
I looked at Anguilla IBC, however the uncertainty around banking has me second guessing.
Company will be mainly selling digital products to customers worldwide (mostly in US). Other sources of income are YouTube ad revenue, iTunes sales, etc. There would also be larger client payments coming in for professional work. These clients are also mostly in the US.
I will also be accepting crypto as payment and ideally would need a bank account that can interact with an exchange, but it’s not a major necessity at the moment.
Tax avoidance is obviously a factor, however the lack of reporting requirements is a bigger draw towards offshore as I’m mainly a one person show. My Canadian company is a hassle to maintain and the time + cost of compliance is barely worth it. Plus I’m bearish on Canada as a whole.
Any recommendations? Would a US LLC be the best option? Are my banking concerns about Anguilla overblown? Initially I plan on building a history using Wise or other EMI before moving to a traditional bank for safekeeping.
I plan on paying myself directly into my personal mexican bank account and paying the appropriate taxes.
Thank you!
I own a media company incorporated in British Columbia (BC Corporation). Before moving to Mexico, I appointed a BC resident as director to keep the company in good standing.
However, I am thinking about closing the company and opening a new one offshore. If I decide to move out of Mexico later, I would not have to make major changes.
I looked at Anguilla IBC, however the uncertainty around banking has me second guessing.
Company will be mainly selling digital products to customers worldwide (mostly in US). Other sources of income are YouTube ad revenue, iTunes sales, etc. There would also be larger client payments coming in for professional work. These clients are also mostly in the US.
I will also be accepting crypto as payment and ideally would need a bank account that can interact with an exchange, but it’s not a major necessity at the moment.
Tax avoidance is obviously a factor, however the lack of reporting requirements is a bigger draw towards offshore as I’m mainly a one person show. My Canadian company is a hassle to maintain and the time + cost of compliance is barely worth it. Plus I’m bearish on Canada as a whole.
Any recommendations? Would a US LLC be the best option? Are my banking concerns about Anguilla overblown? Initially I plan on building a history using Wise or other EMI before moving to a traditional bank for safekeeping.
I plan on paying myself directly into my personal mexican bank account and paying the appropriate taxes.
Thank you!
