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rent a company

ivan1911

ivan1911

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Oct 31, 2018
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#1
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Has anyone ever tried to rent a company ?

I saw
1. winglio.com
2. rentacompany.com

Now the second one gives you a debit card so you can withdraw cash and have it as expense and not have any divident so you don't have to pay any tax..
Fees differ based on your needs but if it's legit it would be interesting for sure...

The first one I have a friend who used them and they are 100% legit , however their fees are 6.6% per transaction and then you send the money to your personal account where you pay dividents tax.

Second one is interesting but I have no experience with them , it's convenient as you get a card which you can withdraw money for 'expense '

Anyone did something like this before ?
 
#2
ivan1911 said:
Now the second one gives you a debit card so you can withdraw cash and have it as expense and not have any divident so you don't have to pay any tax..
Click to expand...
I have seen this for many years back, today you are asking for huge troubles if you do it. You can be held responsible for something other people have done. I don't believe this ti be a valid solution.

You may even trap into a SCAM since anyone in this world with just a little knowledge about KYC / DD and Money laundering rules know that this is asking for trouble.
 
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#3
I don't think this is necessarily "asking for trouble". Variations of this exist all over the place.

For example in the UK you have payroll/umbrella/rent-an-employer companies that are all variations of this. The risk around money laundering is held by the service provider, while you have counter party risk.

Of course, these types of companies do not reduce any tax liability in your home country. More likely than not, your tax liability is higher using a setup like this than if you use a local company.
 
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#5
blockchain4ever said:
@ivan1911 winglio.com seems like a much better option than the second one, even if it is more expensive.
by getting your payments as dividends, your local tax liability is typically much smaller.
Click to expand...
Yes I know winglio is totally legit.. they need you to sign a contract with whoever you provide your service to... It's a great thing but fees add up.. it all comes to about 22% if you live in Croatia ...
 
#6
ivan1911 said:
Yes I know winglio is totally legit.. they need you to sign a contract with whoever you provide your service to... It's a great thing but fees add up.. it all comes to about 22% if you live in Croatia ...
Click to expand...

Can you break those fees down?

Actually, I found there was a 3% fee at rent a company as well for getting dividends, they just don't advertise it in big letters on their front page. So it could be better overall.
 
#7
blockchain4ever said:
Can you break those fees down?

Actually, I found there was a 3% fee at rent a company as well for getting dividends, they just don't advertise it in big letters on their front page. So it could be better overall.
Click to expand...
6.6% partnership fee , that's the first thing they take after you get payment
3% withdrawal fee
That's it from their side plus a few eurs for transactions... 4.5€ or so..

Divident tax in Croatia 12%
On that 12% you need to lay 18% more
 
#8
I found some services where you can "rent" an already formed company in different jurisdictions that can be used to invoice end customers or simply move funds across companies, as proxy companies. They typically take a fee per transaction.
I can think of different useful cases that can work nice here, but concerned about potential liabilities/privacy. The concept itself is re-usability is interesting applied into the rigid legal entity figures, but not without raising major concerns.

This is one example solution: Rent a Company - Why own a company when you can rent one?

What's your opinion overall about it?
Do you think it's worth trying, even just for moving 4 figures amounts to corporate or personal bank accounts (specifically into non-CRS bank accounts)?
 
#10
You guys think this is legal?
 
#16
The problem with them is tat they are a law unto themselves. If they dont like the transaction for any reason they can hold back your funds.

They have your money and you have to do as they say. If your transaction is fraudulent or you dont reply they keep the funds.

Your better of to buy a nominee company then you arecin control.
 
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#17
randomname11 said:
Well it's standard procedure on Trustpilot :) I would have done the same
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For you it is normal to react to constructive criticism with a revenge review with untrue allegations to your own customer? Kindergarten.
They just closed down my account without any notice.

CaptK said:
The problem with them is tat they are a law unto themselves. If they dont like the transaction for any reason they can hold back your funds.

They have your money and you have to do as they say. If your transaction is fraudulent or you dont reply they keep the funds.

Your better of to buy a nominee company then you arecin control.
Click to expand...

That's it. But I think for some people the tax model is interesting too (only 4,5%)
 
#18
True, I used to do a similar service but the headache you get when a fraudulent payment comes in or the seller never delivered the service its not worth it.
 
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#19
TheMentalist2020 said:
For you it is normal to react to constructive criticism with a revenge review with untrue allegations to your own customer? Kindergarten.
They just closed down my account without any notice.
Click to expand...


Well, I couldn't see your review as it was reported, so will have to take your word for "constructive criticism" :)
But for an online presence on a review site, there is no "good constructive criticism". Of course, I would report the review, but of course, also try to resolve the matter "behind the scenes".
You are entitled to another opinion of course :)
 
#20
randomname11 said:
Well, I couldn't see your review as it was reported, so will have to take your word for "constructive criticism" :)
But for an online presence on a review site, there is no "good constructive criticism". Of course, I would report the review, but of course, also try to resolve the matter "behind the scenes".
You are entitled to another opinion of course :)
Click to expand...
Luckily Trustpilot has put it back online again.
 
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