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One of the most common questions that we get in Offshore Citizen is ”Where to form an offshore company?”
Are there some universal places where you can go that will be great for saving taxes, banking, etc?
Well, the answer is no – there is no such a place. However, depending on your needs there are several places worth considering.
In this day and age, offshore structuring is more about the substance and less about the form. Yes, it will still matter where do you form a company, as you want to go to a country with less or ideally no tax, but there is much more than that in the equation.
So which are those countries that you should consider for your offshore company?
If you’re not an American, US is a good place to go. US LLC will give you many options that you wouldn’t have otherwise.
UAE can also work for many people, especially if you actually want to live in the UAE. However, UAE is not going to be a good option if you have an e-commerce business and if you need payment processing.
Singapore and Cyprus are also some options worth noting.
If you want to have high tax rate on paper, but not pay much tax in reality, places like Georgia (the country) and Mauritius can be great.
If you’re in a position where you don’t need banking Caribbean countries, such as BVI can be good.
If you’re in a situation where you need a tax treaty Labuan in Malaysia can be good option.
If you don’t make large amounts of money, Romania can be a reasonable option.
Another European option that can work for some is Hungary.
Hong Kong, traditional place for forming offshore companies, is not so good of an option anymore, although it can work for some people.
UK LLP is on that can be considered in some cases. And lastly, there are Estonia and Malta.
Of course, which one we’ll choose for you willl depend on your needs, and needs of your business and the trajectory that you’re planning to take.
Who are we and what do we do?
We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.
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Author: Michael Rosmer
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