Offshoring The Business

[manarak]

My current internet-business flows through a company in Switzerland, where the taxes are 18%.

In Thailand I will not pay income tax on money that either stays abroad or is transferred into Thailand after a waiting period of 12 months.

So I now need to figure out the optimal place to establish my company, so that taxes and other costs will be reduced to a minimum (best would be 0) !!

I guess quite a few boardmembers have their biz abroad as well, so please enlighten me on your company location and costs incurred.

Please write a PM if you don't want to post publicly - thank you !!

Edited August 7, 2009 by manarak

[mark5335]

Consider Labuan International Offshore Business/Banking Centre in East Malaysia. It's located 5 miles off the coast of Brunei. To get there you can fly Thai to Brunei (abot 2 hours) then take the ferry, alternatively, you can fly to KL on Air Asia and change to another Air Asia flight direct to Labuan.

You can elect to either pay 20,000 ringgit flat tax (about $5,000), or 3% of trading revenue if you have a financial institution business. For your internet business I think you income is tax free. Most major banks have an office there. The authority allows free movement of funds in and out of the territory. An offshore companyt can be set up there very quickly and you don't have to be there, one of the official trustee companies operating there can take care of the set-up and statutory requirements whilst you remain in Thailand or elsewhere.

[samran]

Hong Kong. So long as none of your income is derived from inside HK, then you are not liable for any tax and considered 'offshore'.

[MaryWorth]

St. Vincent & Grenadines International Business Company, 0% tax

[wolfmanjack]

how about the setup costs and yearly fees ? I looked at Hong Kong but the company i asked were quoting fairly high yearly fees.

[fox2night]

check ukincorp.co.uk - LTD at Seychelles - around EUR 350.- /year - 100% tax free and 100% bookkeeping free very convenient

Edited August 9, 2009 by fox2night

[dondraper]

u really have to pay tax in switzerland if you don't live there? all year long?

[manarak]

u really have to pay tax in switzerland if you don't live there? all year long?

I'm talking about the company!

And I'm not only looking at tax, but also other costs such as bookkeeping costs, yearly register fees, fees for having a mailbox there, etc.

The goal is zero tax, zero fees, or whatever comes nearest.

I'll investigate the Seychelles company - never heard of that.

If no bookkeeping is required, that's great!

[Pattaya46]

Interesting discussion. Please don't stop it now

Does any one has experience about creating such a "Offshore Business" ?

What about cost ? (setup and yearly ?)

What about availability of business bank account ? (cost ?)

Does people who replied earlier have Internet link about their solution ?

Thanks

[simon43]

I have used Seychelles companies for the past 7 years - 1 man band anonymous company, no accounting requirements at all.... the perfect solution

Simon

[Cabrinha]

BVI. British Virgin Islands. Also 0% tax. No need to file accounts and can be only one director/shareholder. Setup costs are about €1000. Annual cost about €200

Can be setup from wherever you are.