Opening up e-commerce business in the Bahamas?

[Amazigh]

I want to register my drop shipping company in the Bahamas to avoid the crazy a*s tax here in Norway but I don't know who to trust of the companies online.

Can anybody offer some good advice?

Thank you!

 

[JohnLocke]

What exactly do you think you can get out of it? You will have to pay taxes where you live regardless of the company in Bahamas or in Honolulu - If you search the forum you can find lots of information about AML, CRS and other crazy reporting which took place years ago.

 

[Amazigh]

What exactly do you think you can get out of it? You will have to pay taxes where you live regardless of the company in Bahamas or in Honolulu - If you search the forum you can find lots of information about AML, CRS and other crazy reporting which took place years ago.

So its not possible? I have no other option but paying 100% of the tax in Norway?

 

[Amazigh]

Im not very knowledgeable about this, please bear with me

 

[Sols]

So its not possible? I have no other option but paying 100% of the tax in Norway?

Correct. Any company you own or control from Norway, is tax resident in Norway and must comply with Norwegian tax law.

If you don't like that, you'll need to pack up and move to a tax haven. Cyprus and Malta are easy options for EU/EEA citizens.

Or put in so much money into the business that you can hire local staff in Bahamas and genuinely run it as a local business there. But even so, you'd be subject to tax on dividends/salary you take out from the company.

 

[Amazigh]

Correct. Any company you own or control from Norway, is tax resident in Norway and must comply with Norwegian tax law.

If you don't like that, you'll need to pack up and move to a tax haven. Cyprus and Malta are easy options for EU/EEA citizens.

Or put in so much money into the business that you can hire local staff in Bahamas and genuinely run it as a local business there. But even so, you'd be subject to tax on dividends/salary you take out from the company.

Thank you for your wisdom. Its too sad the tax here is crazy man :/

 

[Fred]

What exactly do you think you can get out of it? You will have to pay taxes where you live regardless of the company in Bahamas or in Honolulu - If you search the forum you can find lots of information about AML, CRS and other crazy reporting which took place years ago.

And beside that as someone coming from the E-commerce I can tell you that without really living in the Bahamas you don't get any merchant accounts you need like PayPal or 2Checkout.

Take a look at the UAE and Dubai Company Formation at least to have PayPal and Stripe available and some workaround for the CRS reporting for the short term.

However if you are not willing to move in the long-term you can't run the business 100% legit with keep staying in Norway like mentioned before.

 

[Cetme308win]

Thank you for your wisdom. Its too sad the tax here is crazy man :/

move out to Dubai or Panama or Bahamas if you wanna do legally (and enjoy real freedom }

 

[BrandonH1987]

Any entrepreneurial activity is taxable. Profits from sales also fall into this category.

 

[BrandonH1987]

Any entrepreneurial activity is taxable. Profits from sales also fall into this category.

The most crucial thing in business is to make a profit. A company that deals with sales must be even more concerned with financial operations. Profits from sales can be fickle, so it is essential to take the proper steps and actions to keep them high. Since the sales funnel reflects the financial result, it is necessary to analyze it correctly, make calculations, and finally form a general conclusion. Entrepreneurs use automated sales intelligence for such operations, which allows them to track sales trends, customer base, and even taxes.

 

[ImKing]

The most crucial thing in business is to make a profit. A company that deals with sales must be even more concerned with financial operations. Profits from sales can be fickle, so it is essential to take the proper steps and actions to keep them high. Since the sales funnel reflects the financial result, it is necessary to analyze it correctly, make calculations, and finally form a general conclusion. Entrepreneurs use automated sales intelligence for such operations, which allows them to track sales trends, customer base, and even taxes.

Any entrepreneurial activity is taxable. Profits from sales also fall into this category.

what are you, a bot ?

 

[BrandonH1987]

what are you, a bot ?

Why?

 

[ImKing]

because either you are a bot or you are a company, from your writing I read it this way!