Offshoring 101

stainluss

Is it legal to set up an offshore (e.g. Cayman/Singaporean/Swiss) holding company/bank accounts and act as a foreign company operating in Ireland for tax purposes?

If it is legal - is it generally cost effective when factoring in forex/admin rates if a company were to have E50k-E100k in revenues?

The answer is probably really obvious but I'm a total greenhorn to this and couldn't find anything on Boards through searching! Any and all help appreciated.

EDIT: I'm an Irish national but not domiciled there.

barneystinson

stainluss wrote: »

Is it legal to set up an offshore (e.g. Cayman/Singaporean/Swiss) holding company/bank accounts and act as a foreign company operating in Ireland for tax purposes?

If it is legal - is it generally cost effective when factoring in forex/admin rates if a company were to have E50k-E100k in revenues?

The answer is probably really obvious but I'm a total greenhorn to this and couldn't find anything on Boards through searching! Any and all help appreciated.

EDIT: I'm an Irish national but not domiciled there.

Of course it's legal, plenty of foreign companies operate here - just be sure you don't mix up having a foreign registered company for having a company that magically isn't tax resident/owing any taxes here...

stainluss

barneystinson wrote: »

Of course it's legal, plenty of foreign companies operate here - just be sure you don't mix up having a foreign registered company for having a company that magically isn't tax resident/owing any taxes here...

What's the difference? Lets say a company did 100% of its business in Ireland but is registered (magically or not haha) in another country..

Mr. Incognito

This is structured tax advice and this is not appropriate for this forum

Thread closed.

stainluss

Snip!