

Running a company offshore - dannyanders

Does anyone have any experience running a company offshore? Especially as strategy as a tax haven. I'd like to know the pros and cons.  e.g.
How did it impact taxes?
How did it impact payment processing?
Did it make it difficult to find providers of services (hosting for example)?<p>What other challenges did you face?
======
limeblack
I haven't done this, but I'm under the impression you can discount a lot of
the profits of US business provided the business is done outside the US and
you living outside the US for at least 300 of 365 days in a year. Now this is
with a standard US business (maybe an LLC even).

Unless you have oversea connections family (maybe really close friends) I have
been told the costs don't represent the hassel. It's cheaper to go with an LLC
in state with no corporate tax, then to deal with all the costs overseas.

Apple and Google are big they can justify the cost(additionally the use
several loop holes).

------
gopi
If you are a US citizen and planning this for tax purposes then forget it.

As a US citizen you have to pay tax on your worldwide income. Even if your
offshore company don't pass the income to you, you have to pay tax because of
something called Subpart F income (google it).

So tax wise the best you can do is to relocate to a no-tax state like Florida
or Texas and save the state income tax!.

------
kgc
Pros: You get to travel. Overseas human resources tend to be less expensive if
you are outsourcing to a developing country.

Cons: You still have to pay taxes if you're a US citizen. If you really want
to avoid tax, you might have to give up your US citizenship.

~~~
dannyanders
No, not trying to avoid tax all together;definately not personal taxes. Just
trying to understand the savings vs hassle.

------
FN0rdique
Have you considered the option of actually paying taxes like a respectable
member of society?

~~~
nodemaker
Have you considered being on point?

~~~
FN0rdique
Offshoring is despicable. I think it's germane.

~~~
nodemaker
Well thats your opinion.

