New on LowEndTalk? Please Register and read our Community Rules.
All new Registrations are manually reviewed and approved, so a short delay after registration may occur before your account becomes active.
All new Registrations are manually reviewed and approved, so a short delay after registration may occur before your account becomes active.
Comments
But to be fair, UK is quite an exception there. There are still other EU countries that do it in a more old fashioned way, where you have to physically go to a court or notary, and pay a judge/notary for reading the incorporation agreement out loud in front of all shareholders to found a company. And in that case, you would be lucky if that would cost just 500$.
Yea thats fair. I was just pointing out that its not really needed to pay $500 just to get started.
UK is indeed a great option. Someone said Estonia. Please dont choose Estonia unless you love to pay close to 100% or more in taxes.
Your username made me not to choose Estonia.
Please do tell..I'm really keen to learn how your math works.
@serv_ee At least for US residents, it comes to about 110% taxes. If you do get tax credit, then it comes to about 75% net. The big problem lies in getting this tax credit though. All the paperwork from Estonia and other formalities really make this tax credit on a case-by-case basis.
What taxes are you talking about exactly? Do you include employment taxes etc? If so I can see that, if not...
(And to be fair if you do include those its a bit unfair to compare our system to the US system)
I only include taxes that a business must pay, not personal taxes or employment taxes of employees. UK is still the best option. After that, I vote for France.
I got a startup visa in Canada (was accepted to startup accelerator there), currently, waiting for PR.
I will have to incorporate in Toronto (as a part of the agreement), however, the lawyers highly recommended British Columbia.
As I can understand, anyone could register a company in BC and there basically tax free or so. Just 2000-3000$ and they will do everything for you, even provide a nominal director. BC is a known "laundry", a lot of shady people abroad love to open companies there.
I am from Kazakhstan "as seen in Borat" (c). There are no taxes till 2025 (then 3% if earn less than 500k$ per year), you could register a company easily, people from abroad are welcome.
Then try UK or Estonia.. (I'm not sure if Estonia E-Residency allows or suitable for Hosting or any virtual goods industry)
There are many agencies you can confirm with them
Best of luck..
https://en.wikipedia.org/wiki/Principality_of_Sealand
It still costs €300 to form a company here. Afaik it ain't a penny cheaper for foreigners. ☺️
Lmao. I remember this place. Glad you reminded me.
I think it's better to go with US/any better place at this cost...
https://marketplace.e-resident.gov.ee/company/your-company-in-estonia
It's actually more expensive for foreigners.
Bruh...the people running that program are a bunch of fucking idiots. Highly paid idiots tho.
He he. Something looks familiar with my country policy makers. Estonia is out of question. The cost isn't any cheaper comparing to the service they provide. I have US, UK, NL, SG, CA, UAE, FR to make choices from so far. If anymore comes in anyone's mind let me know in this thread. Thanks everyone.
you also should look into the tax rates, the paperwork, how you will handle the tax filing, the resident manager, delegated lawyer, physical address rent, etc...
Yep. Have them in mind already. Thanks for reminding me again
Dont' forget that if you form in US, you are subject to the full extent of all US laws, copyright, trademark, taxation, everything. It doesn't matter where you host or where you live. Same if you take USD at all.
This may not be ideal.
WBSO is a good one to watch out for, it's pretty easy to apply. With WBSO you save on your income tax. The best thing is you can get access to innovation-box which changes corporate tax to 7%.
Switzerland, Europe (VAT 7%)
The Money Laundering part doesn't go well with e-residency. But Transferwise works just a heads up those searching for information. They are desperate to get more e-residency business.
LHV? no thanks! They up next for the money laundering investigation pretty soon ^. Coop
You sound like those meanies from Tartu. Criticizing the poor beautiful Tallinn
You have to pay 70eur/month for accounting bla bla to some agency to keep up with accounting and monthly filing.
Anyone having experience with Malta? I heard its very friendly with cryptos and many top exchanges have offices there. I would surely love to see if some one can quote expenses to register business in Malta.
Just don't tell the government (provincial or Federal) you're going to live in Ontario and actually live in BC. They hate that and because of abuse, will come down on you if one does that.
Dafuq? BC is not tax free. Money laundering issues are a result of using casinos for gangs to launder money and real estate, where rich (typically) Asians purchase homes with nefarious money sources. Which of those do you fall under with your startup? Nothing to do with taxes or BC corporate structure or shit like that.
/boratsay Very nice.
Probably random potato firm out of nowhere. Thanks for the info.
Eh eh no Estonia scheme is on.
Aha someone mentioned this earlier. Added to the list.
Expenses are "a lot" and "if you run a gambling den you can probably afford it"
The US can be a great place to form a corporation. You can't register a company at the federal level, you need to choose a state (each one with different laws and fees).
The needs of your company will determine which state makes the most sense, but either Wyoming or New Mexico are usually the best. New Mexico charges a $50 registration fee, and no annual fees after that. Only a single 2 page form is needed to register. You do not need to tell the state or federal government who owns or controls the company unless and until you open a bank account. In either case, absolutely nothing is made public. A good local agent can be had for as low as $25/year, and will receive official mail for the company.
Forming a US company isn't hard or expensive unless you use a service that handles the process for you.
Yup. We're currently working on applying for the WSBO when the program opens up again next year. I have also been accepted into the income tax credits for employees. Basically giving me a discount on the tax I have to pay when I pay employees, including myself.
Not to mention that me as a DGA (large stockholder), I can pay myself out in dividends if I already pay myself the minimum DGA salary (which you can get lowered to around 40k /year, which I also did). Dividends only have a 15% tax rate, meaning I can pay myself for cheap. The Dutch government even briefly talked about abolishing the tax altogether earlier this year.
Aside from The Netherlands being a very stable country, the systems that are in place to digitally interact with government services like the tax office aren't all that bad. I feel I have certainly not made the wrong decision by founding my company here.
Yup. That's one of the down sides of founding a company here in the Netherlands for instance. The cheapest way you can get it done that I found, and also used myself, is through https://www.firm24.com/ - they're a company solely focused on providing all of the services necessary to found a company, and thus it's much cheaper than just going to any old notary.