Recommend a jurisdiction with Good Privacy and OK banking

[nethostler]

I've done enough research to know that the more private a jurisdiction the more banking difficultly increases.

That said, I have a few sites I want to open offshore corps with banking for. It's all legitimate legal stuff so I don't need government level privacy or anything. My #1 goal is keeping my name off of the public record, to pay freelancers from company accounts not my own, minimal to %0 corporate tax rate and minimal to no auditing requirements

Budget is $2,000 - $3000 a year

I'd be willing to travel to open bank accounts although obviously would prefer not.

 

[John Andrews]

- who are your clients? mostly b2c or b2b? will they have issues with your invoices in regards to tax audits?
- do you need PayPal, credit card processing?
- what are the CFC rules in your country?

way more info needed in order to give any sensible advice

 

[nethostler]

ty mange for the quick response, let me fill in the those gaps.

1. 75:25 b2c:b2b. could be issues with b2c's for a jurisdiction like Nevis for example.

2. Credit card -Yes , PayPal - Yes

3. No CFC Rules

 

[John Andrews]

If most of your clients are outside of the US, I'd go with a Wyoming LLC.

I don't think B2C would be a problem, you can easily sort that out via Stripe (which is why I recommended Wyoming) or 2CheckOut.

If you don't like US for whatever reason, you can go with a Canadian Limited Partnership (LP).

 

[John Andrews]

Btw, for long term privacy New Mexico LLC might be better than Wyoming

 

[nethostler]

Ty, Wyoming had been on my radar but not New Mexico, I'll look into it.

If most of your clients are outside of the US, I'd go with a Wyoming LLC.

What are the potential drawbacks of owning a US entity, with US clients??

Other than servers my company would have no US presence whatsoever.

 

[John Andrews]

Wyoming has asset protection, New Mexico has better anonymity. Pick one.

In regards to US presence, not sure if I understood you correctly. First you said you have US clients, then that only your servers will be in the US.

Both are irrelevant. What matters is if there is a link between you and the US. If you are not a US resident or citizen, you'll be just fine

Read this for more info: Non-US Owners of a US LLC: Time to File IRS Form 5472 – US Tax Services

 

[fshore]

PayPal in USA is almost impossible now without a ssn. Same with stripe, and most other cc processors.
Also opening a bank account when your name is not on the article of organisation is not easy, as many banks require that.

 

[nethostler]

In regards to US presence, not sure if I understood you correctly. First you said you have US clients, then that only your servers will be in the US.

Correct my clients are largely US based, here I was referring to the fact the my operations are non US based: no US offices, no US dependent agents etc. Which I understand to have US tax implications (liability) even if the entity is foreign owned.

 

[nethostler]

PayPal in USA is almost impossible now without a ssn. Same with stripe, and most other cc processors.
Also opening a bank account when your name is not on the article of organisation is not easy, as many banks require that.

That's a shame. I'd being willing to have my name on the article of organisation as long it wouldn't be on the public record. But the ssn requirement is a problem.

Are there any legit workarounds?
or
Could you suggest alternative jurisdictions?

 

[neweraoffshore]

You can get around this SSN stuff if you are willing to use a nominee structure and find a provider who opens the merchant accounts for you.
Still the best method to get your name off the records.

 

[fshore]

That's a shame. I'd being willing to have my name on the article of organisation as long it wouldn't be on the public record. But the ssn requirement is a problem.

Are there any legit workarounds?
or
Could you suggest alternative jurisdictions?

The articles are public in most states.