1. cangarooo

    cangarooo Offshore Agent

    Hi everyone. I’m looking for your help.

    The situation is as following:

    Next September, together with my business partner, we will launch our online business, It’s a Marketplace. If you have Fiverr or Freelancer in mind, it’s exactly the same but for a specific category.

    Incorporation: we have made yet the final decision on where to incorporate but as options we have are:

    - Ireland (because of low cost incorporation and good CIT rate and waiving)

    - Estonia (because of low cost incorporation and good CIT)

    - US Delaware (because of low cost incorporation and good CIT rate and waiving)

    - Switzerland (we are both based in Switzerland but cost of incorporation are high as well as CIT).

    Based on the above, we are looking for a bank account to manage money in and out.

    To open a traditional bank account in the country of incorporation will require a trip on-site and no guarantee of having the account opened (Switzerland would be easy).

    So, I’d like to have your suggestions for the following:

    a) Any “virtual” bank that would work for us (knowing that we will remain based in Switzerland and our personal bank accounts are here)

    b) Any traditional bank that will be ok to open the account to a remote person/company

    c) Any other suggestion

    Also, it would be good to consider the level of fees (fixed, per transaction) associated to the possible solutions as our business will be based on margins of the transactions.

    I’m sorry if I was not clear in my request so in case feel free to request clarifications.

    And thanks for your support.
    negon and diablo like this.
  2. diablo

    diablo Banned User Business Angel BANNED MEMBER

    I would look at Ireland for your business. However it seems you are on a low budget and everything you setup now is a try or forget proejct.
  3. cangarooo

    cangarooo Offshore Agent

    Thanks Diablo for the feedback.
    Yes, we are in between "try or forget" or " we can make it but with very limited budget".
    The intention is to see how this goes for the initial 3 months.
    than based on the results, to decide next steps.

  4. symon

    symon Active Member


    Ireland + Fire business account, I think it's cheaper than Estonia.
  5. cangarooo

    cangarooo Offshore Agent

    Thanks Symon.

    At this stage I'm considering:
    Irish LTD + Fire
    Irish LTD + N26

    I checked the feasibility of the Irish LTD + Leupay but it will not be accepted by the payment gateway (Stripe or Mangopay).
    Any other suggestion or solution?


  6. superman

    superman Building Trust Entrepreneur

    I have the feeling that you're on the best way to end with high cost and troubles.

    So you both are swiss resident, place of control is switzerland and you now go to incorporate in ireland/estonia ....
    Are you aware that you will have to pay tax in switzerland? Did you informed you regarding Swiss VAT obligation? and and and...

    And is Ireland or estonia really cheaper?
    For a Swiss GmbH you can incorporate online, get the documents notarized and submit to company register this will be below chf 1'000.
    If the capital is a problem, bring your software as asset instead cash (not optimal but should work) this will cost additional chf 400 to got the value confirmed.

    good banking: go to postfinance open a account they have really well conditions if you have many eur transactions got a 2nd account with a german online bank.
    clear accounting rules
    communication in a known language
    and and and ....

    so, do you self a favor and think about it again.
  7. Gunter

    Gunter Building Trust Entrepreneur

    When you consider alternatives to Switzerland it suprised me. Why don't you consult a tax consultant that can help you reduce the tax to a min.? Are you willing to move from where you live right now?
    clemens likes this.
  8. clemens

    clemens Corporate Services Mentor Group Business Angel

    Would you mind to share with us where this was going? I'm in Switzerland right now to speak with a agency service about relocation and would enjoy any input about taxes and VAT there.