Forum Moderators: LifeinAsia
I've been reading some of the WebmasterWorld forums for years, although this is the first time I am actually actively asking for information.
I run a web site that over the years grew into generating cash flow that would justify setting a legal frame around it, i.e: a company. I'm not going into any figures, but let's say it's a bit more than I earn as a well paid computer engineer.
The web site is hosted near the place I live at, and can't be moved to another country. Most of the revenue comes from North America, with small chunks of revenues coming from all around the world.
I am living in one of the richest countries of Western Europe, where taxes and general burden factor associated with starting a company up are very high.
Therefore, as many I suppose, I am thinking of creating the company in another country. I've heard many an advice from many different people, however I'd like to hear advices from people who actually went through this, and were in a similar situation as me. Or at least people who have hard information and know what they are talking about. :-)
Having the company pay me a salary is not the most important factor. I can do without it, the company paying for the web site's expenses and getting some cash on its bank account would be fine with me. I just don't want any more web site revenue to transit through my personal bank accounts.
At this time I expect to continue residing in the European country I currently live in, as well as paying my usual taxes in the same country, and have no desire for tax fraud.
If it can be of significance, I am a citizen of a Eastern European country which isn't member of EU.
I am particularly thinking of several configurations:
1. Ltd in UK. Heard taxes are low (like 10% of yearly profits?). Easy to set up?
2. LLC in Delaware. Heard taxes *in Delaware* are none or low, but how about other taxes? Overall cost of owning the company?
3. Canada. I have trusted Canadian friends living there, which might be a plus.
4. Luxembourg. Is it any good?
5. Switzerland. Any good, other than that coolness factor?
Please feel free to share your experiences, debunk myths, etc.
