Quote:
Originally Posted by jalami
That sounds good, but why waste time with a Gibraltar corp in that setup? You could have a UK corporation, with European directors, that has the merchant account, and then transfer the profits to the Panama corp. Or better yet, if the merchant account provider allows, you could have the settlements sent directly to a Panamanian bank.
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Agree - could use a UK corp jalami. A non resident UK corp is obviously cheaper on setup and could have the same effect - especially if the beneficial owner is "clean" and not bogged down with taxation rules/obligations wherever they reside. If there is a need for a degree of privacy - it's probably better hitting back to a Gib-type scenario.
This stuff really depends on what nationality/residency the principals or beneficiaries have, what personal obligations exist under their tax laws blah blah.
The simplest scenario of all is to be resident offshore - this keeps everything "legal" and you can play with almost any OS or multi-corp structure in whatever jurisdictions. Under that situation, there is nothing to hide and really no need for stuff like nominee dirs etc. (tho they still can have their uses). Been doing this for many years now and sure saves time on form-filling and a tax-free scenario which also cuts out all related paperwork. It's nice to concentrate on doing actual biz than wasting time being unpaid clerks to a revenue agency.