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Quick question!

mightymarcoose

Offshore Agent
Aug 29, 2009
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Hi there,


I own a fast growng website and am interested in registering it offshore for tax purposes. Does anyone have any suggestions on:


1. How easily this can be done.


2. What country would be the best one to register in.


3. Any advice on how to go about doing it.


Many thanks in advance for your input!
 
Well, since it is a website you are doing business with or rather it is a Online business, I would defiantly recommend to incorporate in Europe, Cyprus is one of the only countries in the EU which also offer a low tax of 10% or can be completly be excempted from tax if incorporated as an IBC.


With the Cyprus corp. you will easely be able to apply for a merchant account with any European bank and have the funds transfered to the bank account in Cyprus which you can open for the Cyprus company.


For the process, it will take everything between 2 and 4 weeks to have everything setup, depending on how fast things are going from your side.


Btw. Isle of Man is also an option but you will find it difficult to find any payment processor for the company.
 
fila1 said:
A online business is taxed as well as any other business, however, as mentioned before, if the cyprus company is registered as an IBC (International Business Company) you will pay 0% Tax on net income.
This will come in handy!!


That way companies will be able to make greater profits without the need to pay tax.:1orglaugh:


I'll keep this info in mind when I have to make such a decision.
 
Thanks for your reply - is incorporating in Cyprus a costly affair?

fila1 said:
Well, since it is a website you are doing business with or rather it is a Online business, I would defiantly recommend to incorporate in Europe, Cyprus is one of the only countries in the EU which also offer a low tax of 10% or can be completly be excempted from tax if incorporated as an IBC.
With the Cyprus corp. you will easely be able to apply for a merchant account with any European bank and have the funds transfered to the bank account in Cyprus which you can open for the Cyprus company.


For the process, it will take everything between 2 and 4 weeks to have everything setup, depending on how fast things are going from your side.


Btw. Isle of Man is also an option but you will find it difficult to find any payment processor for the company.
 
It's really surprising me that online business also have to pay taxes. Still a little bit confuse about this though. Is this offshore company virtual? I mean, if the purpose of this company is to enable you to pay less tax, you don't need a real office, do you? All you need is an valid address to prove that you register a company there.. that's all.. besides, you running an online business which basically can be maintain anywhere...do i have right opinion?
 

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