Setting Up an Anonymous, Low-Cost Tax-Free Company Globally in 2024 with Minimal Compliance Requirements?

[Marzio]

I would want to open a company in Panama

No you don't want to form a company in Panama, you want to form an offshore company like US LLC and manage it from Panama.

 

[Don]

No you don't want to form a company in Panama, you want to form an offshore company like US LLC and manage it from Panama.

Territorial taxation applies when a service is provided or delivered within the national territory, subject to the regular corporate income tax. However, if the work is performed outside of the country and the client is foreign, the income is exempt from taxes.

So the important question remains - where will the services be provided from.

 

[Marzio]

What you said is valid for any territorial taxation country that actually cares about enforcing the law.

 

[baio12]

Don't take your 500,000 USD/year business offshore just to save on taxes. You probably can't save on taxes (legally) and even if you do, I'd bet the costs of doing so aren't that much different from the costs of paying tax.

500 is revenue? What profit should you have on minimum to consider offshore?

These points can you elaborate?

Establish your residence and business in such a way that secrecy is a non-issue.

Use nominees cleverly and carefully.

Good asset protection usually doesn't rely on secrecy

 

[sebastian]

What you said is valid for any territorial taxation country that actually cares about enforcing the law.

Can we get a list of such countries to see if it is worthwhile?

 

[daniels27]

Can we get a list of such countries to see if it is worthwhile?

Hong Kong
Singapore

For those that are known to not enforce the law:
South Africa
etc.

 

[clemens]

No you don't want to form a company in Panama, you want to form an offshore company like US LLC and manage it from Panama.

any other workarounds where ou don't have to live in Panama but have the US LLC ?

 

[alain]

How can I set up a tax-free company in 2024 in any location worldwide, ensuring anonymity for its owners, with minimal accounting and auditing requirements, and requiring only a small amount of paid-in share capital?

do you found paradise?

 

[clemens]

do you found paradise?

I believe he did not otherwise he had posted here about it! I would like to learn about the place if you found it!

 

[JohnLocke]

How can I set up a tax-free company in 2024 in any location worldwide, ensuring anonymity for its owners, with minimal accounting and auditing requirements, and requiring only a small amount of paid-in share capital?

You may be kind and update the thread with your findings if you don't mind

 

[webangel]

What about...

If you're non-US citizen selling your services/goods/investing in the USA > register a company in Marshall islands or Seychelles (Low-Cost + Anonymous + 0 Tax) to receive money > open Delaware Corp in the US (very Low-Cost + Anonymous + 0 Tax) make a contract and transfer money from your island company to your US company bank account > use your US company account with a debit card to enjoy life > expand business with your US Corp. to EU and get 0 Tax from EU business too...?

- Anyone can share any similar experience...?

 

[EliasIT]

@webangel the problem with your suggested setup is the banking which is not anonymous at this point. You would need something more in order to avoid your name appear in banking transactions, that something is discussed in details in mentor group gold for years.

 

[webangel]

@EliasIT Do all banks exchange company account owners info with their country of residence? CRS is only for the private accounts or for the business accounts too..?

 

[EliasIT]

In the cases I have been involved they send everything to the tax authorities in Denmark what had my name on it, also corporate accounts.

 

[DeepDrilling]

@EliasIT Do all banks exchange company account owners info with their country of residence? CRS is only for the private accounts or for the business accounts too..?

yes they do

 

[alain]

@EliasIT Do all banks exchange company account owners info with their country of residence? CRS is only for the private accounts or for the business accounts too..?

CRS is for everyone who owns a foreign account, whether it's a company account or a private account. It is the person who has the power of attorney and access to the account that gets reported to the tax authorities. Otherwise, it would be far too easy to escape the authorities' reach.

 

[justnew]

If I setup the company with nominees director and shareholder I get not reported because it is not my company in the registry. Why don't people just do that way?

 

[Cloudbanck]

If I setup the company with nominees director and shareholder I get not reported because it is not my company in the registry. Why don't people just do that way?

Cause the UBO gets reported. And having a nominee UBO is tricky from a legal perspective and because you make it possible for whoever is your nominee UBO to take the company from you. Of course there are solutions to everything, check the mentor group. But there are good reasons people dont just do it this way.

 

[Cetme308win]

Those who are still looking for that 2009–2014 (if not even older...) era offshore financial services industry are falling further and further beyond each year.

As our fellow @Martin Everson always says "Beggars cant be choosers".
Sadly, the offshore environment changed a lot....the old good days of bank secrecy,shell companies,bearer shares.... passed away....adapt yourself and your business to the new environment or be ready to die (not in a literal sense lmao)

 

[boomy]

I changed my company structure several years ago to be in a country with very low corporate taxes and favorable tax conditions. I have nothing to complain about, and I don't need to hide anything from anyone.