Seychelles Company - Minimize Onshore Corporate Tax Business Model

[TwoFaces]

Need creative suggestions from fellow cclogic users! Thank you in advance .


Everyone on the forum keeps saying offshore company especially the ones in countries such as Seychelles, BVI, Panama and etc is great for evading corporate tax. We have now incorporated a company in Seychelles and set up a bank account in Cyprus. We do not operate online business. Instead we have a business in the UK and we see clients face-to-face. We are a consulting firm and clients come to us for advice.


My question are


1) how can we take advantage of this Seychelles + Cyprus bank set up? Any bright ideas?


2) We are about to breach the VAT threshold after which we will have to be VAT registered. Can the above Seychelles + Cyprus bank set up be of any use? (we would prefer not have to pass on VAT to our clients, as this will make us uncompetitive. The alternative is that we absorb the VAT. But this will put us out of business)


Thanks.

 

[clemens]

Everyone on the forum keeps saying offshore company especially the ones in countries such as Seychelles, BVI, Panama and etc is great for evading corporate tax

Did you read Tax Evasion ?:hehe: I read it as people are looking for a solution to minimize or avoid tax :whistle:


What were your first thought when you incorporated the Seychelles company and opened the cyprus bank account?


I don't see how you will want to make use of a Seychelles company for face to face business i.e. B2C. You will need to transfer shares from the UK company to the Seychelles company that will proparly issue some tax to be paid in the UK. Other options may be to transfer Copyrights, royalty's and similar Immaterial rights but to execute such exercise it will require some legal afvise and help.