9 countries with ZERO corporate tax
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- Опубликовано: 25 авг 2024
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Today we are talking about countries that have ZERO CORPORATE TAX
Here are tax havens for business people, so if you are thinking about setting up an offshore company you might want to take a look at some of the countries from the list:
Cayman Islands
Bahamas
British Virgin Islands
Anguilla
Bermuda
Isle of Man
Jersey
Guernsey
United Arab Emirates
Bonus country:
Labuan (Malaysia)
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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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1 Cayman Islands 2. Bermuda 3. Bahamas 4.Virgin Islands 5.Anguila 6. Isle of Man 7. Jersey 8. Guernsey 9. UAE
Your knowledge on this is amazing!! Matched with your ability to be so well spoken makes a win win. Now I have to ask, what is that building behind you. It looks beautiful.
You're referring to our house we were living in in Sofia? That's what the glass, etc. is the other building in the far distance is the next house.
@@MichaelRosmer wow! Beautiful. Congratulations on that. That is gorgeous.
Garden nature and trees are beautiful too if you didn't notice))
Wow, amazing work bro keep it flowing!
Thanks anything in particular you'd like to see?
9:56 recap of countries
Thanks for adding
@@MichaelRosmer Thank you, I'm enjoying your videos. What do you think about Nevis?
@@i1pro depends for what. For citizenships it's pretty good. For trusts it's fair good minus banking. For company formation it's obsolete. For banking it's horrible.
Good content, Thank you.
Amazing and great information. Please keep me informed always Thanks.
Thank you for the support, Rayu!
Will do, happy to be of service☺
Anything you'd like to see next?
Very informative blog
Thanks!
Do any of these countries have an expedited path to permanent residency or citizenship?
Not anymore with the G7 . I wonder how well this is going to be enforced. And How it will be enforced.
0% tax rate is awesome.
It’s the best!
you initially said Cayman is 0 Corp tax....later you said Cayman is 0 Personal tax. Are they both?
Hey thanks for your videos. I have subscribed to your channel also. I appreciated your advice that no one solution suits all. As a general guide where would you suggest looking into if your business is online with clients around the world and one holds both a Maltese and Australia passport and we are presently Bali Indonesia based? I am in the early stages of looking into this and would appreciate any suggestions to explore further. Would also like to have a chat at some point also. Thanks again
Glad you enjoyed it.
Best place to start depends a lot on whether you need to accept credit cards or not. If you do usually you start with Europe or US.
If not usually you start looking at places like Labuan, Dubai, Georgia, HK or US depending on lots of other factors though it's not all about those.
Hey @@MichaelRosmer thank you for the reply. We take payments via online payment gateways like - stripe - PayPal - which also accept credit cards through those gateways. So would I be right in understanding you that Europe and US is where to start? Or are you referring to a different variation of credit cards?
@@MrGurujohnny that's correct if you want those technologies then generally EU or US are your best starting place then you need to dive into the details and see what fits based on your local tax residency, sources of income, nature of your operations etc
What about other regulations for companies? For example, some countries require you to open a bank account in that country and to do business through that account. Having a corporate bank account in that country is not always ideal.
That's not a normal requirement
So I live in the Uk earning money virtually though wholesaling in the US, where do I set up an llc to have my payments wired to so I avoid paying hundreds of thousands in tax
If it was that easy everyone would do it and HMRC would be out of business.
You need to build a structure that complies with corporate residency, source income and CFC rules.
If you're interested in discussing how to set it up properly reach out we can book a call and I can go over it with you www.clarity.fm/michaelrosmer
Panama bro!
What European country is best for lowest corporate tax on foreign income
Depends on lots of details. Best option for specifics is to book a call calendly.com/michael-rosmer/
Hey Michael, could you make a video about "economic substance"?
Have you seen these two?👇 ruclips.net/video/GP4JXd7TW0Q/видео.html
ruclips.net/video/5HZ5X6EUyXc/видео.html
@@OffshoreCitizen No, I haven't yet. Thanks! 😃 👍
Uae has poor untrustworthy and expensive banking system
What's your general view about Seychelles ? Any bad stories?
Seychelles used to be a good option, now we almost never use them anymore because good banking is almost impossible.
@@MichaelRosmer yes but why is Good banking impossible ?
@@curiousgeorge6921 Seychelles is considered high risk. There's no real business or financial activity there and they've promoted an environment of zero tax and secrecy.
There have also been some scandals involving Seychelles companies that have come out.
The default assumption of banks then is "here's a business with no substance that's trying to evade tax and launder money".
Even if that isn't you it's not worth the risk for them. You're just not very valuable as a client.
@@MichaelRosmer what about Seychelles as an asset protection place
@@curiousgeorge6921 all of this is pretty case specific so there's not an easy "xyz place is good for asset protection".
It's more like "protection of what assets?" "protection from who?" "are you talking about within a legal structure or a bank?" "what are the liabilities?" "what types of assets are you trying to protect?" etc
Just as a general rule we pretty much never use Seychelles anymore there are almost always better options today when you consider the variables and scenarios.
Hmm no mention of Panama? They also have 0% tax rate as long as you don't have clients or customers from Panama
These are only true zero tax countries. Panama is not zero tax actually the tax is quite high. They do have a territorial tax system though it's not really accurate that this is based simply on where the clients are located, that's a common misconception. They also have withholding tax on dividends.
Panama is closer to Gibraltar or Hong Kong than say BVI. Maybe in the future I'll do a video on territorial tax countries.
@@MichaelRosmer That'd be great!
Hi Michael
I am in Canada and run my operating company here. I am looking to setup a holding/trust company in the Bahamas so that I can pay no taxes. Do you think Bahamas would be a good option and if not where would you suggest.
Regards
Marshall
Hi Marshall unfortunately it doesn't work like you're describing unless you're extremely careful you'll likely still be taxable.
And no Bahamas isn't great for what you're describing.
The best is to send us a message through www.offshorecitizen.net and we can discuss specifics
Hi wat about Vanuatu 🤔
Is it easy to open a Jersey company ? What If I need to operate business in the island but earn income outside the island ?
This is very specific and quite complex. It would be best to book a call, so that I can look into your situation and give you detailed advice calendly.com/michael-rosmer/offshore-citizen-30-min?month=2021-05
How about Gibraltar ?
Technically Gibraltar isn't zero tax so I didn't include it but yes you can get favorable or even zero corporate tax on some cases.
Did you refer to the population of BVI as being not very bright?!!!!!
How much corporate tax in Bulgaria 🇧🇬? And are you incorporated there? And one last question lol is it foreigners friendly country to live? I'm guessing you've bought many real estate there.
Thank you 🙂
The headline corporate tax rate is 10%, but it can be decreased. Yes we are incorporated in Bulgaria, but also in a few other places.
As for the foreigner friendly, hmm it's certainly getting there. I see more and more location independent workers moving to Bulgaria.
@@OffshoreCitizen that's so great to hear that and thanks for answering my question
Well wouldn't that be a nice place to start up a business. 🙂
What country from the list are you referring to?😄
@@OffshoreCitizen Well low tax is always a dream for someone who wants to start a company. 😊 So all of them sounded like a magical dreamy places 😅 and if they have low personal tax too then that is even better. That is if you want to make a profit.
Any suggestins for poor people, between 200k-300k net worth? I'm getting close to retirement and want to save taxes but all these suggestions seem to be for millionaires.
If you're at that level you're better off focusing on cost of living than taxes as it takes up a larger share. Part time hobby income will also often result in greater overall benefits.
This being said a bunch of low cost countries also have low taxes such as in eastern Europe or Latin America