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New company setup advise |
Kristina
Posted on: 26/02/2010
Posted at: 14:15:21
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I am a UK resident and I want to setup a company that manufactures physical goods in Korea and sells/distributes them in Western and Eastern Europe and North America. The turnover would be in usd 1-2m region annually with profit at ~40%. Can this type of activity be classified as e-commerce (if we setup website)? What is the best place to setup such a company as well as offshore bank account for the partners so that the dividend is not repatriated to the UK.
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Anonymous
Posted on: 26/02/2010
Posted at: 15:09:06
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Malta is an ideal jurisdiction to set up a company involved in international trade. Non-resident shareholders of a Maltese company will only pay 5% tax. Please contact me at pbt@maltanet.net and I will provide you with all the necessary information.
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Advisor - Turner Little
Posted on: 01/03/2010
Posted at: 14:01:31
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It is possible to put in place a structure that will allow you to split profits and retain them in a secure, confidential offshore environment by using an offshore company incorporated in Belize. Belize is considered one of the most confidential and tax efficient jurisdictions available. As you are UK resident individuals it will be necessary to also utilise a Trust for each shareholder of the company to hold your shares and also to utilise a nominee director as director of the company so as to avoid an ownership and control situation. Please contact us to discuss at enquiries@turnerlittle.com or via our web site at www.turnerlittle.com
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Dr. Zoltan K. Toth
Posted on: 02/03/2010
Posted at: 07:41:44
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Dear Sir,
I would suggest to you to choose Hongkong for your jurisdiction. Clean tax reputation, territorial taxation and high prestige would serve your best interests.
We are a Hungarian law office in Budapest, specialized to international tax planning. Kindly contact us for further information, our website is www.drtoth.eu.
Kind regards,
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Ryan
Posted on: 02/03/2010
Posted at: 07:46:37
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Hi Kristina
Why not visit our site (www.companiesexpress.com) to see the various jurisdictions we incorporate companies in and contact us for more information.
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Natasha
Posted on: 02/03/2010
Posted at: 09:42:06
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Hi Kristina, we can assist you with setting up a company and bank account in a multitude of offshore jurisdictions. Please contact me and we can discuss the best option for you. natasha@palladiumtrustservices.net. Kind Regards,
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Anonymous
Posted on: 11/03/2010
Posted at: 11:22:44
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Gibraltar is a completely inapropriate jurisdiction for your company and in all UAE and other cases proposed the ultimate issue is that your personal residential location will have an effect on your taxable income or control of an offshore company irrespective of it's location. To form a company that will work for you, you must address personal residency issues otherwise any fanciful ideas will simply not work.
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Frank Camilleri
Posted on: 11/06/2010
Posted at: 13:46:10
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your best solution is to set up an onshore/offshore company in malta where max taxation is 5%. as an onshore company your residency will have no relation to the corporate taxation issue and u can do what u want with the dividend. we also have trust accounts which could take care of that side of the problem too.
malta has one of the best internationally recognised onshore/offshore legislation and financial services in europe which seem to meet your requirements adequately. if interested u may contact me on fcamilleri@intertecnica.com.mt or skype me on : fcamilleri
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A Hilton
Posted on: 12/06/2010
Posted at: 12:00:59
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Hi Kristina,
Malta would indeed offer you a lot of options.
We can offer you a turn key project that includes your Maltese Trading Company and a fully fledged state of the Art E-Commerce platform including a merchant account and most importantly a Central European Drop shipping Logistic Center (at very very low cost) that actually takes care of the distribution of the goods. This is very important since shipping costs are a big costs to your business. Means, shipment from Korea goes to Central Stores any order will be dispatched from there to the customer, whilst all the money flows via Malta.
Your Maltese Company will be paying 35% Tax, but you could apply for a refund of up to 6/7, which effectively brings you back to 5% net taxation.
In Malta it is possible to hold shares by Nominee. The Nominee shareholding is strictly regulated here, therefore safe and sound. The payment of dividends can be structured in 1001 way. However, please always bear in mind that since noone in Malta will ever declare your income to anyone, you would be voluntarily obliged to declare any dividends in your home country regardless of the final destination of the money.
Recent changes in Income Tax regulation for Malta Foundations may even make it sensible to hold shares by a Malta Foundation. This would be the creme dela creme of confidentiality and asset protection. Please contact me if you like to know more about that. http://eu-hub.com/the-private-malta-foundation
info(at)eu-hub.com www.eu-hub.com Eu-Hub Malta Limited
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franco
Posted on: 16/06/2010
Posted at: 04:10:07
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Hi Kristina,
I would recommend you Hong Kong. For trading of goods outside their territories no profit tax
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etreasurer
Posted on: 16/06/2010
Posted at: 09:48:23
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Hi - the main question should not be the jurisdiction for tax but the structure for effectibe transfer pricing. Assuming you will be compliant (unless the goal is to not report income, which is not a good idea under any circumstances)it is important to demonstrate WHY you book profits overseas, rather than setting up a brass plate company. I would suggest investigating this before deciding on the jurisdiction.
www.etreasurer.com
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Laurent Dominique
Posted on: 22/07/2010
Posted at: 13:44:54
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Hi Kristina,
your best solution is to set up an offshore company in Mauritius where taxation is 0% . If interested u may contact me on ldabcglobal@intnet.mu or visit our website www.abcmanagementservices.com.
regards
Laurent Dominique
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Martin Katz, Chartered Secretary, Isle of Man
Posted on: 23/07/2010
Posted at: 10:10:13
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Hello - The individual above who focussed on your residence / domicile rather than the jurisdiction of incorporation is quite correct; all the other replies miss this crucial point. I'd be happy to talk you though the issues; my telephone number is on our website. www.middletonkatz.com
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Anonymous
Posted on: 26/07/2010
Posted at: 14:02:32
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Please send me on email on nnagawa@prime-capital.mu
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manlio
Posted on: 25/08/2010
Posted at: 07:47:52
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Dear Kristina,
It depends what are the countries (especially in Western Europe)where you will supply the goods, please let me know, best regards
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Turner Little Limited - www.turnerlittle.com
Posted on: 27/08/2010
Posted at: 14:28:41
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Being UK resident individuals, the repatriation of funds to the UK is not necessarily the problem, it is the earning of income globally by that individual or via a corporate entity in which the individual has an ownership stake or control of, which will incur you in a liability within the UK on globally earned income, except where a double taxation relationship exists and taxation has already been paid to the country holding the double taxation relationship with the UK.
On this basis, in the first instance it is vital that whatever structure you put in place, you do not have 'ownership or control' of it and this can normally be achieved by using an ownership vehicle, such as a Trust or Nominee Shareholder and by using a Nominee Director. The location of the company itself is of paramount importance also and may as well be located in a low tax confidential jurisdiction, such as Belize.
The second problem you have is that having put in place an appropriate trading structure such as that described above, you need a way of either accessing funds legally without incurring a tax liability ot a way of repatriating funds to the UK without incurring a tax liability while remaining resident in the UK.
The latter leg of the structure involves putting in place genuine loan arrangements with offshore banks to enable funds to be repatriated as loans as opposed to earned income, with loans not being taxable. The loan MUST be able to be evidenced and backed up by a genuine bank hence an appropriate relationship is required here also.
Please feel free to contact us for further information by email to enquiries@turnerlittle.com or via our web site at www.turnerlittle.com
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Anonymous
Posted on: 30/08/2010
Posted at: 14:04:05
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A GBL 2 Mauritius Company can offer you 0% corporate tax and no VAT along with a merchant account to accept card payment from a leading bank in Mauritius. Please contact me on nnagawa@prime-capital.mu so that we can send more details to you or visit www.prime-capital.mu
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kyc lawyers
Posted on: 12/12/2011
Posted at: 20:39:06
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Dear, you are overloaded with messages... Take your time is the first advice. As international tax planning lawyer I may then give you a second advice : hong-kong and malta may be efficient solutions but nothing will avoid you to think about a tailor-made solution, and not a copy-paste solution. You seems to be in Mauritius, it may also a good location... Have a look at www.kyclawyers.com and feel free to contact me if you seems it reasonable for your business.
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Easeway.vicky
Posted on: 14/12/2011
Posted at: 07:46:51
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Hi, We suggest you set up a HongKong company, if the company profit not come from Hongkong, the profit donot need pay the tax, but need do accounting. After the company established, we could help you open the bank account in HK HSBC branch, you do not need visit the bank. If you consider it, please contact with me. Thanks!
Easeway.vicky
E-mail: vicky@hkease.net;
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Anonymous
Posted on: 28/12/2011
Posted at: 12:41:44
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Hi Kristina,
Best jurisdiction is Mauritius. No Tax, efficient banking system, merchant account for your e-commerce activities, no exchange control either. I will be more than happy to assist you. Kindly email me on sanjeev@premier.mu.
Cheers,
Sanjeev
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