What country or countries would be better to incorporate a business?

[thinkaliyum]

I am in such saga, to find a real bank or one with all things that I need/want. Plus, personal account.
It’s just a nightmare.

First was the COVID, at least for two years in my case (fear), now seems less terrifying but I still need to get in an airplane for 10/12h to go to Europe in person to open a account. And I need to know which banks do this by walking in.

My history merge together with the COVID, before I used to travel constantly, now for personal problems, I don’t want to travel just for this, even having total free time and even being in need to be some days or weeks very far away.

Well, life is a mess.

Back to the topic, I had the intention of creating a company exactly in Cyprus, but with the same or worse problems with banks, it’s just a no go.
But in WHAT country or countries would be better to incorporate a business? Not being “cheap” and not being “I don’t care” related to taxes. It doesn’t need to be 0/5/10 but I would like not to be 40/50%.

My case is a bit more different or unusual. I used to trade (securities), and I opened a company to trade through it. I wanted to separate anything related to myself and “protect” the money that I earn under an entity.

Beside the question “where” to incorporate, doing so in X jurisdiction that would be suggested, and to have stronger chances, making the company with some substance, how long this would be necessary for example? 3, 6 months? 1 year?

Obviously everything is a supposition, so, if someone can suppose something with substance, it would be great to open the way of thinking this whole subject.

 

[Martin Everson]

But in WHAT country or countries would be better to incorporate a business?

This is a company that will also be just for personal trading with a broker?

Beside the question “where” to incorporate, doing so in X jurisdiction that would be suggested, and to have stronger chances, making the company with some substance, how long this would be necessary for example? 3, 6 months? 1 year?

A structure can be setup in weeks. However you need to look at the Economic Substance Rules of each country. Only then you will know what is needed to create substance and then roughly how much it will all cost you. There is not one size fits all solution.

 

[thinkaliyum]

It’s a company that will do the personal trading. It’s just the company investing, pure and simple. Obviously someone is doing it, in the case, myself.
The term to invest company money in this way, would be Treasury Money. Money that a business has spare and use to “make more money” instead of stay parked in a bank account.

The way I am doing, I GUESS, is the simplest, but it’s accepted in 90/95% of the brokers.

There is what is called Family Office, that I guess, it would be the same, BUT, with more people as shareholders, to administrate and invest/speculate with the family’s money.

And there is the Trust, that I am not very familiar, but it’s used, but I think (the people here that understands can explain better) it’s used in the same way but also provides more protection, there is a structure of companies, usually in different jurisdictions…
The Trust is more accepted with big brokers, some don’t accept, but as usually there is a lot of money, there is the niche to serve them easily, with everything with a bank, brokerage with many services/concierge.

I was opening a account with Centtrip. Good communication and it seems fast.
But in one of the emails I just got caught by the “thing”: because they are a EMI, they DON’T accept statements from another EMI, in my case, Wise.
After like two weeks I still can’t stop to think how stupid this can be.

And so, the world continues.

 

[Martin Everson]

Ok....have a nice day.