I'm location-independent as an IT consultant/contractor with a single full-time client. I need a company to invoice my work, and I'd like to have it offshore as I move every year or two - keeping my current company now that I'm moving isn't practical.
I'm an EU citizen but don't live in the EU anymore. I'm fine with paying personal income tax wherever I'm actually living (of course, lower is better, as long as it's strictly above-board) but I'd like to keep corporate taxation low. Privacy would be nice but ultimately isn't so important to me. For banking I could just use a Transferwise account - I just need to receive my monthly invoice payment and then pay myself dividends/a salary. What's a practical jurisdiction to set up my business with minimal headache and low fees?
Two small issues:
-I need liability insurance as a contractor, so I don't think e.g. a Belize company would fly. Even here in the Balkans it was a hassle to get.
-My client is registered in the UK (though everyone there is a location-independent contractor abroad), so a UK company as described here would probably just create more headaches as I guess I'd have to register for VAT - never mind all the potential headaches of Brexit.
Perhaps I'm overthinking things, my invoices are essentially a salary plus occasional costs charged to client so I could just make sure the company never turns a profit and so doesn't need to be taxed - where I am now, however, I pay myself minimum wage and take the rest as dividends at year end as that had huge income tax/social security tax benefits.
I was thinking about a Labuan company, but now I hear that I might not pass the local content requirements, so perhaps either I wouldn't qualify for the 3% tax rate or I'd need local employees (out of the question for my 40K/year income). Hong Kong is an alternative, I see that an competitor to Transferwise also offers incorporation so I get both a company and an account with minimal hassle (albeit some fees). What else should I consider?
Thank you!
I'm an EU citizen but don't live in the EU anymore. I'm fine with paying personal income tax wherever I'm actually living (of course, lower is better, as long as it's strictly above-board) but I'd like to keep corporate taxation low. Privacy would be nice but ultimately isn't so important to me. For banking I could just use a Transferwise account - I just need to receive my monthly invoice payment and then pay myself dividends/a salary. What's a practical jurisdiction to set up my business with minimal headache and low fees?
Two small issues:
-I need liability insurance as a contractor, so I don't think e.g. a Belize company would fly. Even here in the Balkans it was a hassle to get.
-My client is registered in the UK (though everyone there is a location-independent contractor abroad), so a UK company as described here would probably just create more headaches as I guess I'd have to register for VAT - never mind all the potential headaches of Brexit.
Perhaps I'm overthinking things, my invoices are essentially a salary plus occasional costs charged to client so I could just make sure the company never turns a profit and so doesn't need to be taxed - where I am now, however, I pay myself minimum wage and take the rest as dividends at year end as that had huge income tax/social security tax benefits.
I was thinking about a Labuan company, but now I hear that I might not pass the local content requirements, so perhaps either I wouldn't qualify for the 3% tax rate or I'd need local employees (out of the question for my 40K/year income). Hong Kong is an alternative, I see that an competitor to Transferwise also offers incorporation so I get both a company and an account with minimal hassle (albeit some fees). What else should I consider?
Thank you!
....sorry couldn't resist....
