quick company set up to receive payments

[Jade33]

Hi all,

I have been browsing here for a while now and still don't know which direction to go...
Resident in europe, BE
-US LLC, anonymous but as posted before difficult to get a payment processor
Do I need to inform my country about the us llc, how will this income be taxed?
-UK LLC, easy set up but from BE research, I need to create a local company combined to the uk one, so basically double costs and administration to eventually still be taxed in BE
-Bulgarian company, low tax, need to check combo BE

I am looking to restart my business(coaching/sell programs) and receive payments(but not in my name)
Looking for a quick, low tax set up but so much is also changing law wise in the world now, I want to make the right move
Or could I wing it for a short time while looking for a better solution?
My child goes to school here so my fear is BE will always want to tax me locally and I am not interested to start another company here
I did for 15 years, paid my social for 15 years! and then I was not even valid to receive unemployment aid
So go where you are treated best is my motto
I hope you have some input or solution thanks

 

[CaptK]

You could use a UK LTD with a nominee until you have sorted yourself out.

 

[Jade33]

I just wrote to 4 different companies, prices range from 300 to 1500p for a nominee...
so with a nominee its seen as a uk company and everything stays there.
As a start up I would be below the 85000p treshold and not need vat number or is that only for non-resident owners?
I would have clients from be but being on social media buyers can be from worldwide

 

[burden]

If you setup a UK Ltd try the Rapid guys Company Formation and Registration £12.99 | Rapid Formations have used them a few times, fast, reliable and very responsive!

 

[Jade33]

If you setup a UK Ltd try the Rapid guys Company Formation and Registration £12.99 | Rapid Formations have used them a few times, fast, reliable and very responsive!

Hi, yes thank you, I followed your link already but I don't think they offer nominee services so still waiting on the info from others. maybe I can mix-match

 

[thirtyniner]

If you setup a UK Ltd try the Rapid guys Company Formation and Registration £12.99 | Rapid Formations have used them a few times, fast, reliable and very responsive!

@burden , I noticed you are very actively promoting this guys job. There is no problem if you work for them, but it would be polite for us to know in advance. You can still present us arguments in order to convince users to use this company's services.

 

[JustAnotherNomad]

My child goes to school here so my fear is BE will always want to tax me locally and I am not interested to start another company here

I have written this many times before - if you don’t want to physically move your butt to a different country, you can choose 2 out of 3 for your structure:

[ ] cheap
[ ] legal
[ ] substantial tax savings

Please think about it for just one minute: If you could pay a nominee a few hundred pound per year and that would mean that you legally don’t have to pay taxes in your home country anymore, why isn’t everybody doing it? I think you know the answer to that question.
And of course you have to notify your local tax office of this. If you don’t inform them, be prepared for lots of back taxes or even jail.

The only way to do it legally would be to build proper substance, which wouldn’t be cheap. A proper legal setup will always be expensive, so it won’t make sense, unless you make a lot of money. See this thread for details:

Best subsidiary location with substance for a Belgian company

I live and work in Belgium. I want to open a company in a low tax jurisdiction to decrease the tax bill of our Belgian operating company. My business partner and I are currently not considering to leave Belgium. Goal My main goal is to save money on the companies tax bill in Belgium in a cost...

www.offshorecorptalk.com

Or you could go fully illegal and try to hide that you are associated with the company in any way. If you are caught, you’d probably go straight to jail. Not sure if that’s worth it, especially if you have kids. Just pay the damn tax or move your a*s and sleep well at night.

 

[lory]

OP where did you setup your company? would like to hear what's the final solution is?

 

[Btraveler]

I have written this many times before - if you don’t want to physically move your butt to a different country, you can choose 2 out of 3 for your structure:

[ ] cheap
[ ] legal
[ ] substantial tax savings

Please think about it for just one minute: If you could pay a nominee a few hundred pound per year and that would mean that you legally don’t have to pay taxes in your home country anymore, why isn’t everybody doing it? I think you know the answer to that question.
And of course you have to notify your local tax office of this. If you don’t inform them, be prepared for lots of back taxes or even jail.

The only way to do it legally would be to build proper substance, which wouldn’t be cheap. A proper legal setup will always be expensive, so it won’t make sense, unless you make a lot of money. See this thread for details:

Best subsidiary location with substance for a Belgian company

I live and work in Belgium. I want to open a company in a low tax jurisdiction to decrease the tax bill of our Belgian operating company. My business partner and I are currently not considering to leave Belgium. Goal My main goal is to save money on the companies tax bill in Belgium in a cost...

www.offshorecorptalk.com

Or you could go fully illegal and try to hide that you are associated with the company in any way. If you are caught, you’d probably go straight to jail. Not sure if that’s worth it, especially if you have kids. Just pay the damn tax or move your a*s and sleep well at night.

good advice

 

[VESTANON]

I have written this many times before - if you don’t want to physically move your butt to a different country, you can choose 2 out of 3 for your structure:

[ ] cheap
[ ] legal
[ ] substantial tax savings

Please think about it for just one minute: If you could pay a nominee a few hundred pound per year and that would mean that you legally don’t have to pay taxes in your home country anymore, why isn’t everybody doing it? I think you know the answer to that question.
And of course you have to notify your local tax office of this. If you don’t inform them, be prepared for lots of back taxes or even jail.

The only way to do it legally would be to build proper substance, which wouldn’t be cheap. A proper legal setup will always be expensive, so it won’t make sense, unless you make a lot of money. See this thread for details:

Best subsidiary location with substance for a Belgian company

I live and work in Belgium. I want to open a company in a low tax jurisdiction to decrease the tax bill of our Belgian operating company. My business partner and I are currently not considering to leave Belgium. Goal My main goal is to save money on the companies tax bill in Belgium in a cost...

www.offshorecorptalk.com

Or you could go fully illegal and try to hide that you are associated with the company in any way. If you are caught, you’d probably go straight to jail. Not sure if that’s worth it, especially if you have kids. Just pay the damn tax or move your a*s and sleep well at night.

I sure know for a fact that having a nominee has its advantages...sure makes you sleep well at night, can assist in setting up local presence and substance related tasks among others...