Tax haven 2015

[spankalot]

Hello,

I was wondering if anyone of you know what the best country is to start a business in tax wise. Can you also explain to me what the tax percentage is and if the process of starting a business is difficult.

Would also be cool to talk to a financial advisor at TES. Let me know to set a appointment.

Cheers

[k0nr4d]

Depends on your business and how you earn. If you are an affiliate and get paid via paxum and wires, probably something like Belize which has no tax and no annual statements you need to submit. If you are in europe and need to take money from users for paysites, then Cyprus because there's an 80% discount for taxes on companies that make money from IP rights, etc.

[spankalot]

I am an affiliate and receive money via paxum/wires.

[Cash4Members]

k0nr4d is right about the cypriot taxation

+ Corporate tax is amazingly only 12.5 % ( it used to be 10% )

+ this is what is waiting for you !

[marktruman]

surely it doesnt matter where business is based, bringing money back into your country would be classed as taxable?

[k0nr4d]

Originally Posted by spankalot

I am an affiliate and receive money via paxum/wires.

Then go with Belize. Hit me up on skype and ill refer you to someone.

[epitome]

Originally Posted by marktruman

surely it doesnt matter where business is based, bringing money back into your country would be classed as taxable?

Shhh, we're mostly dealing with Class A idiots of GFY.

Criminally evading taxes is a choice only he can make.

Someone asking publicly for a "tax haven" on a message board is mostly likely looking to evade taxes, not just optimize them.

[Best-In-BC]

Originally Posted by k0nr4d

Then go with Belize. Hit me up on skype and ill refer you to someone.

Wait you know someone in immigration in Belize ?

[Best-In-BC]

Don't run from paying taxes but move to these places if you want

[MassMarketing]

I just read an article on CNBC that a record number of Americans are giving up citizenship to avoid taxes. But what they don't realize is that the US taxes everything you own as you leave. Sending you a HUGE tax bill on all your stuff. Also any pensions, 401ks etc will continue to be taxes in the US, even if you don't live here.

Of course you could ignore the bill and not pay it, but I wouldn't put your feet on any US soil the rest of your life.

[dotcamgirl]

If you make it in the USA pay the taxes on your income, if you want to avoid state taxes go to Nevada. We are Nevada based but pay our fair share

[Pryda]

If you're considering moving and want to look at all the factors, have a look at the Nomad List.

[xXXtesy10]

have luck!

[spankalot]

I think some of you misunderstand my question. I am not looking to avoid/lower my income tax but corporate tax. I am asking where to base my company that I will start so I pay less/zero corporate tax.

I have done a little research and Bahamas look promising, anyone knows more about that?

Thanks

[epitome]

Originally Posted by spankalot

I think some of you misunderstand my question. I am not looking to avoid/lower my income tax but corporate tax. I am asking where to base my company that I will start so I pay less/zero corporate tax.

I have done a little research and Bahamas look promising, anyone knows more about that?

Thanks

That depends on where you are. If you're in the US there are passthrough entities where your "corporate tax" would be zero.

Going offshore makes sense for about 0.00001% of companies.

If you're in the US and plan on paying all of your taxes, there is likely nothing that Bahamas can offer that a domestic LLC or S-corp cannot.

[spankalot]

Originally Posted by epitome

That depends on where you are. If you're in the US there are passthrough entities where your "corporate tax" would be zero.

Going offshore makes sense for about 0.00001% of companies.

If you're in the US and plan on paying all of your taxes, there is likely nothing that Bahamas can offer that a domestic LLC or S-corp cannot.

I'm not located in US but in Europe. As far as I have read Bahamas offer zero taxation and 0.75% fee when company income goes over $500.000. I don't plan to take all the money from company just small amounts that I need (for that I need to pay income tax only in my country).

Am I missing something?

[pimpmaster9000]

Originally Posted by k0nr4d

Depends on your business and how you earn. If you are an affiliate and get paid via paxum and wires, probably something like Belize which has no tax and no annual statements you need to submit. If you are in europe and need to take money from users for paysites, then Cyprus because there's an 80% discount for taxes on companies that make money from IP rights, etc.

cyprus is a bad choice nowadays

[Barry-xlovecam]

You need accounting and legal advice. If you cannot afford that, you cannot afford to offshore a business.

Repatriation of funds is only one issue.

If a EU person or EU corporation attempts to circumvent personal, corporate or VAT taxation by using a "controlling interest" in an offshore corporation -- that is a criminal offense I was told.

[spankalot]

Originally Posted by Barry-xlovecam

You need accounting and legal advice. If you cannot afford that, you cannot afford to offshore a business.

Repatriation of funds is only one issue.

If a EU person or EU corporation attempts to circumvent personal, corporate or VAT taxation by using a "controlling interest" in an offshore corporation -- that is a criminal offense I was told.

Is there anyone you can recommend for these kind of services?

[Barry-xlovecam]

Originally Posted by spankalot

Is there anyone you can recommend for these kind of services?

If you have a business now -- your current accountant or accountancy firm (CPA).
A local attorney familiar with the tax laws in your country could advise you of the best options.

These sort of issues are dependent on your physical jurisdiction (where you live).

[celandina]

Unless you turn over 100's of millions there is not real tax heaven any more. Dutch West Indies were considered heavens. But now if you file anything

with any of those jurisdictions is like waving ISIS flag.

Some eastern Euro countries ( Poland, Czech etc...) are still OK but in a legit word with a few 100 K it really makes no sense.

May as well do a Nevada or Delaware corp and be done.

Also to save 20 % just to pay about the same in fee makes no sense.

There are some other ways but not to be discussed over Internet

[k0nr4d]

Originally Posted by celandina

Unless you turn over 100's of millions there is not real tax heaven any more. Dutch West Indies were considered heavens. But now if you file anything

with any of those jurisdictions is like waving ISIS flag.

Some eastern Euro countries ( Poland, Czech etc...) are still OK but in a legit word with a few 100 K it really makes no sense.

May as well do a Nevada or Delaware corp and be done.

Also to save 20 % just to pay about the same in fee makes no sense.

There are some other ways but not to be discussed over Internet

Poland is 19% tax rate, Czech is 15% - Hardly tax havens If you are making a few 100k you would get lower tax in switzerland for instance.

[spankalot]

Thank you all for the answers but I still didn't get any email or pm from a tax specialist (company management). Are there none on GFY?

About opening company in Bahamas... why exactly would be this illegal? Thousands of companies open there every year and I'd be paying dividend/income tax in my home country...