What are the best providers and jurisdictions to setup a private investment firm?

[odan]

My main aims are:
-No(or low) tax.
-Easy to do business.
-Relatively low setup costs.

Anonymity is not too big a factor for me.

Thank you for your advice.

 

[JohnLocke]

What is it you want to invest in? Why do you need a low budget solution? is this short term investment?

 

[odan]

What is it you want to invest in? Why do you need a low budget solution? is this short term investment?

I am looking to invest in art and want a low budget solution as I don’t want to expend too much of my initial funds. These investments are intended for the long term.

 

[JohnLocke]

Sorry, but for a long term investment of your hard earned money you want to use a fragile ground!

As you whish, if so, I would simply go for a Seychelles company, it's less then 600 euro and can be done within a day.

 

[odan]

Sorry, but for a long term investment of your hard earned money you want to use a fragile ground!

As you whish, if so, I would simply go for a Seychelles company, it's less then 600 euro and can be done within a day.

What other solution would you recommend? What would you do if you were in this situation?

 

[JohnLocke]

I would consult a lawyer that is able to help you with the proper setup. If you think this is too expensive then your investment may be to low.

At the end of the day it all depends on how much money you have available. If it is 100K euro a cheap solution like the suggested Seychelles, Belize etc. is sufficient if you have millions available I would consult a lawyer or professional consultancy firm say in Cyprus, Switzerland or even Delaware / Wyoming.

 

[Gediminas]

If it is 100K euro a cheap solution like the suggested Seychelles, Belize etc. is sufficient if you have millions available I would consult a lawyer or professional consultancy firm say in Cyprus, Switzerland or even Delaware / Wyoming.

I will second this with a small addition - I would recommend finding an international consultancy firm that could look up your case on a global scale.

 

[mickey]

I am looking to invest in art and want a low budget solution as I don’t want to expend too much

I think you want to buy art with your offshore company, so your real identity keeps safe from burglars and so on. Well as our Admin says, Seychelles could be a choice but to be safe, you would need to send your payment through an offshore bank account in the name of your company as well. This could reveal your identity by CRS every 31.12. to your local tax authority. But well it depends where you live.

 

[speedster]

What is your current tax residency? This is an important factor too.

 

[Spinat]

This looks like one of these posts which has the only meaning to generate spam and nonsense posting!

 

[odan]

What is your current tax residency? This is an important factor too.

My current tax residency is the UAE.

 

[burden]

You live in the UAE and still not satisfied to pay what ever you may pay there in taxes? I thought it is almost 0% taxes so what's the wrong there?

 

[mickey]

You live in the UAE and still not satisfied to pay what ever you may pay there in taxes? I thought it is almost 0% taxes so what's the wrong there?

Not so fast, the UAE has a more complex system of different kind of entity types.

The local companies: Low-tax but you need business-partner from UAE who owns more than 50% of the company.
The so called Free Zone companies (Ajman, RAK, Dubai): No-tax, 100% ownership but they only can be active in these free zones or international (the classic import export business). Directors and Shareholders are allowed to get Visas and work permits.
IBC: The offshore solution which only be used outside of the UAE, No-tax, 100% ownership, but you are allowed to own lease property inside the UAE. Directors and Shareholders are NOT allowed to get Visas with work permints.

Well they are some more points to each kind of that companies but these should be the important ones.
I would suggest a Freezone Company due the Art could be purchased internationally and imported for free.

 

[BlueMist]

Not so fast, the UAE has a more complex system of different kind of entity types.

The local companies: Low-tax but you need business-partner from UAE who owns more than 50% of the company.
The so called Free Zone companies (Ajman, RAK, Dubai): No-tax, 100% ownership but they only can be active in these free zones or international (the classic import export business). Directors and Shareholders are allowed to get Visas and work permits.
IBC: The offshore solution which only be used outside of the UAE, No-tax, 100% ownership, but you are allowed to own lease property inside the UAE. Directors and Shareholders are NOT allowed to get Visas with work permints.

Well they are some more points to each kind of that companies but these should be the important ones.
I would suggest a Freezone Company due the Art could be purchased internationally and imported for free.

Don't forget there are Trusts and Foundations. The latter might be actually more suitable for the OP.
You can see foundations comparison chart here. I have no personal experience with this company but according to their framework, they: "Advised several art collectors and art dealers on asset protection and legacy planning strategies in relation to their private art collection (use of ADGM foundation in combination with ADGM SPV)"

Also here there is more more info about foundations. The owner of this company has been in this business for 16 years, I am using their services since several years for mails handling , something I already recommended here before.

 

[wheelspin]

I will second this with a small addition - I would recommend finding an international consultancy firm that could look up your case on a global scale.

Any recommendations?

Big 4 such as PwC or well-known firms of the magic circle (Appleby, Walkes, ...)?

 

[Gediminas]

Any recommendations?

Big 4 such as PwC or well-known firms of the magic circle (Appleby, Walkes, ...)?

What is your matter about?

 

[wheelspin]

Looking for some experts to structure/protect assets on a global scale.

I would like to contact some large law firms and global tax advisors for a second opinion about incorporating a holding company and with linked subsidiaries for investment in stocks, real estate, and private equity. To gain more protection I contemplate going for a foundation on top.

It definitely not tax evasion as I am planning to move into a no-tax jurisdiction. I took Dubai with either a freelancer visa (with practically no activity) into consideration or a single-family office in DMCC though the latter one requires audit and some accounting work. Probably it's easier to go with a three-year freelance visa and as there is no audit requirement I do not need to prove any activity, do I?

I need professional advice on when to do what to circumvent any exit tax and hassle.

I know that larger banks (their private banking branch) in Switzerland (UBS, CS, Pictet) can assist too. I always like to have more than one opinion before I decide to set off.

 

[Gediminas]

Send me an email (click on banner) with this information. My partner, legal advisor) does structurings, so let's arrange the call at some point and speak about possible options.

My partner was holding managing positions in big4 (and others), so he has all the competences you need.

Merry Christmas!