Offshore formation

[cpbtc]

Hi,

This is both US & UK. I need to learn how to start an offshore legally in these countries. This should include end to end paperwork, any consultancy, bank account, at least a debit card, and EIN, etc.

It should be cheap & trustable. Google ads list a lot but honestly i do not trust.

I need to know the tax responsibilities too. Or any recurring cost. Company will not be actively in business. I mean there will not be sales activity & income. There might be some transferred funds.

I coundn't ask in serious discussion forum due to user privilies.

Regards.

[exknoxeric]

To get any bank account in the US you need an ITIN, SSN, or EIN. Without a business partner an ITIN is your best bet. Beware any site offering to do this for you.

[braindeadgenius]

I cannot weigh in on the UK, but I can for the US.

You could potentially create a legitimate business on your own without the help of others. However, doing so is very difficult for anyone living here, let alone someone who is not a United States citizen. Your best, and easiest bet would be to utilize a lawyer to help you go through the proper channels to set you up with a company that will release you from the liability of the company (though, that doesn't mean you can do anything you wish). However, this is also going to be the most expensive route to go as well. It can cost you upwards of $5,000 or more, depending on the lawyer and the full extent of what you have done. Maintaining the company is fairly cheap, and you can do it yourself, so long as you follow the laws regarding information protection and upkeep, and submit data to the government by the annual / quarterly due dates. This is information you can obtain from the lawyer. As for taxes, it's highly suggested you use a CPA at a minimum to understand how to maintain your records, and to minimize your tax liability. Taxes in the United States are no joke, and the rules / laws surrounding them would be too much to handle. If it's a small company, this may cost you $500 a year.