Business Start-up

[oilydan]

I'm looking at starting up a business, basically doing what I do for a job, but on my own. The business does not really need a premisis as it can be run from home but will operate internationally.

I have a business plan and now need to move to the next step - actually regestering a company.

At the present time I live abroad, enjoy tax-free status and would like to keep it that way.

Where is the best place to incorporate/register, how much does it cost and what do I need?

I have looked at IoM, Bahamas, UAE etc but get lost in the jargon/lingo!

Have any PHers started a company in a tax haven and can you offer any advice?

TIA

[KingJeff 4th]

Sod off and pay tax like the rest of us.

Edited by KingJeff 4th on Monday 11th May 17:45

[V8mate]

Is it a product or service?

[oilydan]

It's a service at the clients offices/place of business.

[sassthathoopie]

I would ask an IFA that specialises in offshore investments to suggest an advisor- presumably you have an IFA already?

It is a complicated process with various different benefits in various jurisdictions. Lots of homework! Good luck!

[Eric Mc]

oilydan said:

I'm looking at starting up a business, basically doing what I do for a job, but on my own. The business does not really need a premisis as it can be run from home but will operate internationally.

I have a business plan and now need to move to the next step - actually regestering a company.

At the present time I live abroad, enjoy tax-free status and would like to keep it that way.

Where is the best place to incorporate/register, how much does it cost and what do I need?

I have looked at IoM, Bahamas, UAE etc but get lost in the jargon/lingo!

Have any PHers started a company in a tax haven and can you offer any advice?

TIA

Setting up an overseas company is EXTREMELY complex, on the margins of tax planning and probably going to be VERY expensive. I certainly don't offer such complex service to my clients.
Why do you think you need to do this?

[oilydan]

I'm just looking at options at the moment.

To start here I would either need to be 51% local owned to be an LLC. or have about 60K GBP in the bank to register in a Free-Zone, or register elsewhere in the world and use agency agreements (costs 10% of income)for any work in Gulf countries.

From what I have seen a few thousand $$ will get you incorporated in the Bahamas.

[Eric Mc]

Are you prepared to pay the high maintenace costs of such acomplicated set-up?

What would you do if there is a crack down on such arrangements? (there have been some tightening of overseas set ups in recent years).

[RJDM3]

As eric has said you have to bear in mind the maintanence cost of these types of incorporation.

There are still some very good havens for businesses, but be prepared to pay some thousands to set it all up. PM me if you want some pointers