Hello guys,
I ask you help to understand where I can open my offshore company.
I am solo entrepreneur, Italian citizen and resident in Thailand (paying taxes in Thailand).
I want to open a company that will sell my digital marketing services and resell a private labeled CRM Saas software. All my clients are in Italy or Switzerland. My revenue is about 35.000 to 100.000 euro per year.
These are the criteria I am looking for:
- 0% profit corporate tax (and the lowest possible cost in general);
- Country must be EU Europe Cleared list (no black no grey list);
- Banking, I have to be able to receive bank transfer on an EUROPEAN IBAN and I have to have a Stripe account.
The countries I am considering are:
- USA: Wyoming or Delaware (most people say Wyoming)
- UAE (but quite expensive)
I would appreciate also if you can share services you used to set up company and also give a feedback.
Doesn't Thailand have CFC rules? If it does what you're suggesting is illegal regardless of where you set it up.
It doesn't look like Thailand has CFC rules, but my understanding of their recent personal tax changes are that OP would have to pay local tax on all money he remits to Thailand (ie, his annual spending as a tax resident there).
https://taxsummaries.pwc.com/thailand/corporate/group-taxation
https://assets.kpmg.com/content/dam/kpmg/xx/pdf/2018/09/thailand-2018.pdf
No corporate tax works if OP is living frugally, and therefore retaining earnings or cash in their corporate structure.
I agree with the broader point that someone earning €35,000 should focus more on making that consistently €100,000+, before worrying about tax optimisation. I'd rather pay 40% on €100,000 than 0% on €35,000.