Please help! UK LLP with a LTD or US LLC as a partner (legit business)

[churumbelo]

Hi! I work as a freelance with tax residency in the Czech Republic (been there for over 7 years), but I am orignally from another EU member estate. I need to invoice to an Irish client for my IT consultancy services through a company in the EU or the UK. They do not accept a US LLC. I invoice them 120k €/year.

I will be living in Thailand, so that's why I need a company in Europe since they only accept companies in the EU+UK., and I will not be living in the CZ anymore. I think the best option is a UK LLP. Now, what would be the best structure for the LLP?:

1- UK dormant LTD (0%) + Me (100%). Maybe the % could be different if you think it would be better.
2- US LLC (0%) + Me (100%). Again, the % could be different if you think it would be better.
3- Two offshores companies (maybe 2 US LLC), or a US LLC + dormant UK LTD.

I would like to know the best and most optimal option that would allow me to get a bank account (if possible), otherwise, I guess I could workk with EMIs like Wise/Revolut. I suposse the best option would be the number 1. Every month I would transfer the money from the business account to my personal account, and then, most of the funds to my brokerage account.

There is nothing shady about my business, I just work as a contractor with legit (big) companies.

I would like to set everything up as soon as possible. Also, I would appreciate if someone could recommend a reliable and not expensive provider to achieve this.

Malta is expensive to set everything up and maintain it. Estonia discarded, I do not want to pay 20% on dividends. Maybe an alternative would be Hungary 9% CIT and then no tax on dividends (if I am not mistaken) since I am not a Hungarian resident. But I still would prefer to pay less. So that's why the LLP. I also guess it is easier to manage compared to Hungary.

Thanks!

 

[banafinfodafuggiano]

Following.

 

[yngmind]

Hi! I work as a freelance with tax residency in the Czech Republic (been there for over 7 years), but I am orignally from another EU member estate. I need to invoice to an Irish client for my IT consultancy services through a company in the EU or the UK. They do not accept a US LLC. I invoice them 120k €/year.

I will be living in Thailand, so that's why I need a company in Europe since they only accept companies in the EU+UK., and I will not be living in the CZ anymore. I think the best option is a UK LLP. Now, what would be the best structure for the LLP?:

1- UK dormant LTD (0%) + Me (100%). Maybe the % could be different if you think it would be better.
2- US LLC (0%) + Me (100%). Again, the % could be different if you think it would be better.
3- Two offshores companies (maybe 2 US LLC), or a US LLC + dormant UK LTD.

I would like to know the best and most optimal option that would allow me to get a bank account (if possible), otherwise, I guess I could workk with EMIs like Wise/Revolut. I suposse the best option would be the number 1. Every month I would transfer the money from the business account to my personal account, and then, most of the funds to my brokerage account.

There is nothing shady about my business, I just work as a contractor with legit (big) companies.

I would like to set everything up as soon as possible. Also, I would appreciate if someone could recommend a reliable and not expensive provider to achieve this.

Malta is expensive to set everything up and maintain it. Estonia discarded, I do not want to pay 20% on dividends. Maybe an alternative would be Hungary 9% CIT and then no tax on dividends (if I am not mistaken) since I am not a Hungarian resident. But I still would prefer to pay less. So that's why the LLP. I also guess it is easier to manage compared to Hungary.

Thanks!

Irish LLP or LP works too.

For the banking UK Ltd + you would probably be the best option.

You + US LLC is a good option too.

With 2 companies partners, it will be more complicated.

Estonia is not a bad option. You can open a brokerage account on your company's behalf, There are lots of ways to withdraw money from that company tax-free, but with the LLP, it will be less hassle.

You will be liable for Thailand's personal income tax if you are a tax resident there.

 

[myhand]

For the banking UK Ltd + you would probably be the best option.

it's easy to open an account for a UK LTD with a neobank or emi

 

[yngmind]

it's easy to open an account for a UK LTD with a neobank or emi

I'm aware of it.

 

[churumbelo]

Irish LLP or LP works too.

Thanks for your answer!

My client is in Ireland, if I used an Irish company it would be liable to charge/pay VAT. I do not think it would be a good idea.

For the banking UK Ltd + you would probably be the best option.

You + US LLC is a good option too.

Since I do not think I would be able to open a bank account in the UK with either option, I think going for the second option: Me+ US LLC, would be better, because the LTD is more hassle and it should pay CIT in the UK, unless declaring it as non-resident. But that would overcomplicate things to not get a bank account anyway.

With 2 companies partners, it will be more complicated.

Estonia is not a bad option. You can open a brokerage account on your company's behalf, There are lots of ways to withdraw money from that company tax-free, but with the LLP, it will be less hassle.

I'm considering Estonia. But I cannot receive payments from clients in a brokerage account I guess. I need a real bank acount or EMI. I know that I can withdraw the money from the Estonian company as a salary (without paying board member's salary) so I do not pay dividends. But the Estonian tax agency could request at any time proofs so they know I have paid tax+ social contributions somewhere else.

You will be liable for Thailand's personal income tax if you are a tax resident there.

Yes, I know. In theory it is like that.

it's easy to open an account for a UK LTD with a neobank or emi

In that case it is more convenient to use a US LLC + Me as LLP members, and for a LLP it should be easy as well. But I wanted to open an account with a street bank. Since with EMIs I always read stories about accounts being closed or frozen. Althougth I do not have a high risk business, but I don't know if trusting EMIs as the only way of receiveing payments.