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Hey, I'm evaluating to incorporate two companies, one for business and one for personal estate planning.
After doing research I have criteria for making decisions more or less clear. Will share them below.
I'm now looking for opinions as well as possibly professional advice. Open to all options if it saves me time.
My first milestone is to decide on the countries of incorporation.
They can be the same or different.
Company 1: Business Operation
This company generates revenue from licensing software, licensing brands and providing SaaS services.
It will also collect software sales and referral commissions.
Can receive software commissions from US-based publicly traded company without problems.
It is well protected from potential US lawsuits.
It can receive payouts via Paypal & Stripe to local accounts.
It needs to own and manage IP including brands and software.
Must be able to participate in US-based joint-ventures without problems
It must be easy to operate 100% remote. Specially banking.
Obviously low corporate tax. But this is not necessarily the deciding factor.
Company 2: Trust for estate planning
This company will hold shares in US based as well as off-shore entities including the one listed above. Ownership will stay with family.
Currently we are living "nomadic" without specific, long-term tax residency. We want to support for 3-10 years.
We might want to be able to become tax residents in Europe or Asia in the mid-long term (3-10 years)
Governance must be clear and transparent in case of my death the family can take over easily.
It must allow easy participation in other off-shore as well as US-base entities
Ideally a way to leverage it's value/assets to facilitate credits/mortgage in Europe or Asia.
Obviously low corporate tax. But this is not ONLY necessarily the deciding factor.
Company 1: Canada LLP
Company 2: There is none reasonable company, which can hold shares in US and offshore entities and use it to leverage it's value/assets to facilitate credits/mortgage in Europe or Asia. Allmost none banks in EU will accept assets in a foreign country for facilitate a credit.. Only acceptable stock are those listed in a stock exchange.. If your condintion Nr. 5. is not necessary, then the best solution will be panamiam private interest foundation. Not a corporation.
Can receive software commissions from US-based publicly traded company without problems. YES
It is well protected from potential US lawsuits. YES - any lawsuits will be solved by canadian coutrs
It can receive payouts via Paypal & Stripe to local accounts. YES, absolutely
It needs to own and manage IP including brands and software. YES, ther is possible
Must be able to participate in US-based joint-ventures without problems YES - USA and CANADa has great set of international treaties and each country recognize each other.
It must be easy to operate 100% remote. Specially banking. Almost - you must travel to Canada to open bank account. You can operate it totaly remote afterwords.
Obviously low corporate tax. But this is not necessarily the deciding factor. YES - if no profit will be derived from within Canada, there ic no tax.
Company 2: Panama Private Interest Foundation:
Currently we are living "nomadic" without specific, long-term tax residency. We want to support for 3-10 years. - YES - No one cares about your residency when forming this type of entity. You just place any address where correspondence can be sent one per year.
We might want to be able to become tax residents in Europe or Asia in the mid-long term (3-10 years) - YES - Whatabout to become a resident of Panama one day?
Governance must be clear and transparent in case of my death the family can take over easily. - YES - excellent law - You can prepare list of wishes in time of forming, or later..
It must allow easy participation in other off-shore as well as US-base entities - YES - Panama is recognized in every country
Ideally a way to leverage it's value/assets to facilitate credits/mortgage in Europe or Asia. - NO
Obviously low corporate tax. But this is not ONLY necessarily the deciding factor. - There is no tax for panamian private interest foundation for profits not derived from within a Panama territory.
Beside to Google and post here I would say you should speak with a professional in Canada to help you get a proper setup which also works once the tax man is knocking on the door.
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