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  • Aug 11th, 2021 8:55 pm
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Sep 17, 2016
332 posts
151 upvotes

Offshoring

So I was just watching Sorelle Amore's youtube video on offshoring and it made a lot of sense to register a corporation in UK or HK for the 0% corporate tax. (Link to the video below). Especially the registering an LLC part in the UK which according to her only costs 50 Euro and gives you the added benefit of being able to have a UK bank account (unfortunately that doesn't mean having an EU bank account anymore ).

Anyone have any practical experience in this regard and can recommend more resources?

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Aug 26, 2002
1542 posts
210 upvotes
Toronto
TitusBobby wrote: So I was just watching Sorelle Amore's youtube video on offshoring and it made a lot of sense to register a corporation in UK or HK for the 0% corporate tax. (Link to the video below). Especially the registering an LLC part in the UK which according to her only costs 50 Euro and gives you the added benefit of being able to have a UK bank account (unfortunately that doesn't mean having an EU bank account anymore ).

Anyone have any practical experience in this regard and can recommend more resources?

Individuals resident in Canada are subject to Canadian income tax on worldwide income.
You'll have to move to Iceland like she did.
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Dec 13, 2007
2028 posts
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Toronto
bigredlemon wrote: Individuals resident in Canada are subject to Canadian income tax on worldwide income.
You'll have to move to Iceland like she did.
That part sucks but just keeping the profits in the corp, untaxed, still is a benefit.
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Aug 5, 2008
1741 posts
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slavka012 wrote: That part sucks but just keeping the profits in the corp, untaxed, still is a benefit.
Aren't they actively discussing closing the loopholes that allow tax avoidance?
There are 10 kinds of people in the world... Those who understand binary and those who don't 💡

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