Hi,
before I check with my lawyer, I what to ask you for your opinion and maybe also practical experience/hassles with the following setup:
I do with a partner EU dropshipping with an HK Ltd. We are both EU passport holders but have non-EU residences in southeast Asia. That means also that we don't pay any VAT.
We are currently looking for a setup that allows us to use specific payment providers that are only available for companies that are cooperated within EEA incl. IBAN payout account (EMI is possible, except Transferwise because they verify if the account's beneficiary name is the same as the company's name). Now we think about setting up a principal UK Company ONLY for payment processing. All payout funds - except a small reserve for refunds and maybe company taxes - go straight to the HK Ltd. The UK Ltd. / LLP / LP would have nothing to do with shipping and VAT.
We know that this setup is not so easy like it sounds and we have a lawyer to get the required agreements and legal terms for our website. My question to you is: Would this work in practice 2020? If not, where could be the challenges? What would be the best company formation for stable cash flow and minimum tax? Thanks a lot in advance!
before I check with my lawyer, I what to ask you for your opinion and maybe also practical experience/hassles with the following setup:
I do with a partner EU dropshipping with an HK Ltd. We are both EU passport holders but have non-EU residences in southeast Asia. That means also that we don't pay any VAT.
We are currently looking for a setup that allows us to use specific payment providers that are only available for companies that are cooperated within EEA incl. IBAN payout account (EMI is possible, except Transferwise because they verify if the account's beneficiary name is the same as the company's name). Now we think about setting up a principal UK Company ONLY for payment processing. All payout funds - except a small reserve for refunds and maybe company taxes - go straight to the HK Ltd. The UK Ltd. / LLP / LP would have nothing to do with shipping and VAT.
We know that this setup is not so easy like it sounds and we have a lawyer to get the required agreements and legal terms for our website. My question to you is: Would this work in practice 2020? If not, where could be the challenges? What would be the best company formation for stable cash flow and minimum tax? Thanks a lot in advance!
