Question Open offshore company, stay tax-resident in Italy?

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Hello Guys, I am new here; I have a question.

I wanted to know if it's advisable to open an offshore company in Estonia or Cyprus just for few months (less than a year), remaining tax resident in Itay, and Once the business is working, I would become a tax resident where I opened the company.

As you may know in Italy, this company would be considered an Italian company. Still, I personally think that doing this temporary won't be a problem, because at the end of the day I am opening a company with the intention to go and live there shortly, plus I won't withdraw any money and how can they trace me in little time anyway?

What do you guys think about this plan?

For the bank account I don't know what to do, in Estonia they won't open it to me from abroad, in Cyprus I am in contact with a firm and it might be easier, Do you have any suggestions about it? maybe I should go with an EMI company, which one do you recommend?

About the jurisdiction do you have any experience with those two that I mention? What is the best choice in your opinion?

 

[JohnnyDoe]

It could work if Italy doesn’t notice it, which is possible if the money is not too much. If you move out of Italy quickly (a few months) the chances to be lucky are greater.
Also remember that the tax year in Italy starts on Jan 1, so if you change residence before the end of June you would further help your luck.

 

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It could work if Italy doesn’t notice it, which is possible if the money is not too much. If you move out of Italy quickly (a few months) the chances to be lucky are greater.
Also remember that the tax year in Italy starts on Jan 1, so if you change residence before the end of June you would further help your luck.

Thank you for your answer!

Yes, you are right, about the money, my only concern is that I might launch a crowdfunding campaign for a product; if everything works out, I will receive a relatively good amount of money quickly.

It's probably not that big to move tax authorities, but I am extremely concerned about those damn EMI; I didn't even understand if they automatically share information, but I know that they often block your account.

Do you have any suggestions about Bank/EMI?

 

[JohnnyDoe]

Thank you for your answer!

Yes, you are right, about the money, my only concern is that I might launch a crowdfunding campaign for a product; if everything works out, I will receive a relatively good amount of money quickly.

It's probably not that big to move tax authorities, but I am extremely concerned about those damn EMI; I didn't even understand if they automatically share information, but I know that they often block your account.

Do you have any suggestions about Bank/EMI?

You could think about a US company with US bank account. Or a personal account with Zenus.
Do not put too much money in a single EU EMI, they do close accounts all the times for no reason. I suggest Currenxie and Blackcatcard

 

[CyprusLaw]

Hello Guys, I am new here; I have a question.

I wanted to know if it's advisable to open an offshore company in Estonia or Cyprus just for few months (less than a year), remaining tax resident in Itay, and Once the business is working, I would become a tax resident where I opened the company.

As you may know in Italy, this company would be considered an Italian company. Still, I personally think that doing this temporary won't be a problem, because at the end of the day I am opening a company with the intention to go and live there shortly, plus I won't withdraw any money and how can they trace me in little time anyway?

What do you guys think about this plan?

For the bank account I don't know what to do, in Estonia they won't open it to me from abroad, in Cyprus I am in contact with a firm and it might be easier, Do you have any suggestions about it? maybe I should go with an EMI company, which one do you recommend?

About the jurisdiction do you have any experience with those two that I mention? What is the best choice in your opinion?

When do you intend to move to the country of incorporation? You could use nominees for the period in between.

Cyprus banks can open accounts remotely.

Happy to PM you to discuss.