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Setup a company or companies to avoid costs (taxes..)

Mark34

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Jan 13, 2018
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Hi, I am new here and looking for advice about setup a company/companies. If this is wrong section, then please move it to correct one.

We(I and my colleague) have experience with offshore (one Belize corp. with nominees), actually running the business on it, but with new CRS I do not feel safe. We both live in EU.

Our business is online advertising, affiliate etc. We receive around 100k per month from partners which are also mostly offshore (Seychelles, BVI, San Marino), from which we send around 80k to our clients. So profit is about 20k euros per month. We are using a lot of bank transfers (at least 50 per month - non-SEPA) so the cheap bank will be good - it makes no sense to me pay less taxes, but pay more on fees to the bank. We also need to access bitcoin exchanges like Kraken and also will be good to use PayPal since some clients want to receive money on it, but it is not necessary. I am also thinking about opening TransferWise Borderless or RevolutBusiness account since clients prefer different currencies (we mostly sending to Russia or Indonesia).

I check the Leupay today and not sure whether it will work because they have verification with videocall. Worldcore found pretty expensive.

I don't know how tax office will look at it, because it is a corporate account, with no books, so they can't see the profit. No profit/no taxes? Not sure whether it will work with CRS, or how is safe to get profit from the company.

So main goal is to keep more money in business and have good sleep at night. I can live to pay some taxes if it is necessary. I read here about "darks" but I think this is no way to go for me. I also read here about Cyprus bank - Bank of Cyprus, but i think it is useless when we have to pay 20k per year on fees.

I think about creating a free-zone company in UAE, with residency visa and bank account there (Mashreq), no nominees. I am also thinking about Cyprus or Estonia.
The setup costs don't matter, so I am open also to setup multiple offshore companies if needed.

Can you advise me what jurisdiction will be best for our business? What setup should we use

I also already created a thread in Mentor Group, but there is pretty small traffic and no answers, so if you want to offer some help, ideas privately you can post there or PM me. Thanks.
 
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You will not be able to hide any money in Hong Kong unless you take a flight to there and speak with some of the true asset and property managers there. You are required to have a few millions somewhere if you want there help.

The average Joe like little me has to relay on the most simple solutions which we discuss in the mentor group gold for the last 3 years. They are incredible powerful and can almost not be saturated because of the nature of it.

Time will tell when this will change, we are entering a era where "community monitoring" becomes a more important topic to take care of.
 

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