Offshore solution for my dropshipping business w. stripe and paypal

[JOVA]

Hi there,
I am looking for an offshore structure with low taxes for my e-commerce dropshipping business. My customers are worldwide but most of them are from the US, I would like to find a structure with low taxes and no complicated accounting. I am right now in Europe but my goal is to become a digital nomad. I have read other posts and found Cyprus as a possibility. For what I know Andorra has a tax rate of 10%, why will Andorra not be recommended?

 

[TurnedToRobot]

You problem will not be where the company has to be setup but rather how to get a paypal account, for Cyprus and the UK it's pretty easy but then you will need an EMI or bank account which again limit your options for a offshore company. You are doing right by looking into a low tax country rather than no tax.

 

[JOVA]

thank you for your answer, I read it shouldn't be complicated to get a bank account form Cyprus and I think if I choose Andorra with only 10% tax rate I should get easily a bank account is that correct? Sorry for my ignorance, what is an EMI? can I find info about it on a threat here?

 

[JohnLocke]

thank you for your answer, I read it shouldn't be complicated to get a bank account form Cyprus and I think if I choose Andorra with only 10% tax rate I should get easily a bank account is that correct?

Yes and no, what you read is most often (at least in 2019) Cyprus companies which are setup correctly that don't have troubles to get an account with a Cyprus bank! It will depend very much on how you setup your company in andorra and if you have ti do some sort of accounting and tax reporting for it, if so, it should be possible to open an account in Cyprus for your company. If not, you want to check if you can setup an EMI for your company.

 

[JOVA]

Thank you for your answer, I will search further to make the right decision for my business.