Go Back   English Forum Switzerland > Living in Switzerland > Business & entrepreneur
Reply
 
Thread Tools Display Modes
  #21  
Old 13.07.2011, 09:16
monkeynut's Avatar
Forum Veteran
 
Join Date: Sep 2007
Location: Geneva
Posts: 1,132
Groaned at 38 Times in 32 Posts
Thanked 1,392 Times in 521 Posts
monkeynut has a reputation beyond reputemonkeynut has a reputation beyond reputemonkeynut has a reputation beyond reputemonkeynut has a reputation beyond reputemonkeynut has a reputation beyond reputemonkeynut has a reputation beyond repute
Re: setting up in Switzerland vs. off-shore company

setting up with a dead persons passprt is illegal, whatever you call it. looks like you get away with it so fine.. i still dont understand how you can get Swiss bank accounts open with this as they will need the name of the beneficial owner, passport etc etc.

re Cyprus i would not recommend at all for a trading company.. you have to pay for domiciliation there and you need to file audited accounts and tax returns for the company and generally the people there are pretty useless to deal with..UK or IOM would be a much better choice and the taxes would be less..

re BVI companies, they are by far the most popular and easiest, cheapest to run, easy to get a bank account, if you were paying 30k US then there was obviously something wrong?
Reply With Quote
  #22  
Old 13.07.2011, 15:25
swissbob
Guest
 
Posts: n/a
Blog Entries: 8
Re: setting up in Switzerland vs. off-shore company

Quote:
View Post
If youre doing business outside of Switzerland and you have a Swiss po box address for the company then no one is going to give a shiit.
I look twice at companies I do business with if they are in Schweiz let alone some offshore money laundering haven .
Reply With Quote
  #23  
Old 17.07.2011, 13:35
albadream's Avatar
Newbie 1st class
 
Join Date: Jul 2011
Location: Lugano
Posts: 12
Groaned at 0 Times in 0 Posts
Thanked 1 Time in 1 Post
albadream has no particular reputation at present
Re: setting up in Switzerland vs. off-shore company

In my personal opinion if you want to have a serious business and without problems, go for a swiss company.... i think that if i had to choose between 2 companies i will choose the swiss one for sure....i think that i will feel more safewith a swiss company instead of an off-shore company.

Regards.
Reply With Quote
  #24  
Old 06.02.2015, 20:32
Newbie 1st class
 
Join Date: Nov 2013
Location: Suisse Romandie
Posts: 19
Groaned at 0 Times in 0 Posts
Thanked 2 Times in 2 Posts
MrGhongati has no particular reputation at present
Re: setting up in Switzerland vs. off-shore company

Hello All,
I know this is a very OLD thread.

I am in similar situation now where I will be doing a lot consulting work abroad US, EU etc whilst living in Switzerland(EU - C Permit). Some of the work will be remote working from home. I will not be resident in any of the countries I will consult in(except US where a work Visa MAY be required, depending on the particular assignment). No work will be performed for or with Switzerland based companies.

Anybody have any thoughts on whether I should go for a offshore company or a Switzerland based Corporation(SA)?
If offshore IBC, any tips on which jurisdiction? Belize, BVI, Seychelles etc
How easy and are these to close?
Bank accounts for IBCs, which country's bank have lowest charges & deposit requirement vs the safety of the deposit element?

TIA.
Reply With Quote
  #25  
Old 07.02.2015, 13:59
Junior Member
 
Join Date: Mar 2013
Location: Zurich
Posts: 33
Groaned at 3 Times in 1 Post
Thanked 26 Times in 13 Posts
borisr has no particular reputation at present
Re: setting up in Switzerland vs. off-shore company

Offshore is over, at least if you plan to run a decent business.
It is my experience that offshore structures in the end cause their owners more headache (annual fees, poor reputation, uncertainty about a number of legal issues, increased hassle for tax declarations etc). Keep it simple and close by..
Sounds like for the time being it will mainly you working for the company, so I'd consider an LLC instead, cheaper to incorporate.
Reply With Quote
  #26  
Old 07.02.2015, 14:34
Newbie 1st class
 
Join Date: Nov 2013
Location: Suisse Romandie
Posts: 19
Groaned at 0 Times in 0 Posts
Thanked 2 Times in 2 Posts
MrGhongati has no particular reputation at present
Re: setting up in Switzerland vs. off-shore company

Thanks for your input, BorisR.

What's an LLC, is it an SA? or Sarl?


Can one just be self employed and engage in foreign contracts? Potentially with the same company(since some people mentioned one may not be considered self employed unless they have multiple clients? are there are tax advantages to being self employed vs having own company vs being an employee of a payroll agency?

I have searched the forum and elsewhere for kind of a comparison for positives vs negatives for each, but couldn't find any. I guess it will also depend on how much money one is dealing with, would it vastly different for 120K vs 240K?

Any experience with this sort of stuff anyone.??

Thanks
Reply With Quote
  #27  
Old 07.02.2015, 14:41
Forum Legend
 
Join Date: Oct 2009
Location: At home
Posts: 4,167
Groaned at 210 Times in 135 Posts
Thanked 6,404 Times in 2,719 Posts
Faltrad has a reputation beyond reputeFaltrad has a reputation beyond reputeFaltrad has a reputation beyond reputeFaltrad has a reputation beyond reputeFaltrad has a reputation beyond reputeFaltrad has a reputation beyond repute
Re: setting up in Switzerland vs. off-shore company

Quote:
View Post
Keep it simple and close by.
Jersey is close by, is it simple...?
Reply With Quote
  #28  
Old 07.02.2015, 15:09
Junior Member
 
Join Date: Mar 2013
Location: Zurich
Posts: 33
Groaned at 3 Times in 1 Post
Thanked 26 Times in 13 Posts
borisr has no particular reputation at present
Re: setting up in Switzerland vs. off-shore company

What's an LLC, is it an SA? or Sarl? LLC is a Sarl (GmbH)

Can one just be self employed and engage in foreign contracts? yes

Potentially with the same company(since some people mentioned one may not be considered self employed unless they have multiple clients? this is only one of several criteria, you can have just one client but still be self employed.

are there are tax advantages to being self employed vs having own company vs being an employee of a payroll agency?
that always depends on a number of factors, but generally speaking for the vast majority of cases you're clearly best off (taxes) with your own company.

I have searched the forum and elsewhere for kind of a comparison for positives vs negatives for each, but couldn't find any. I guess it will also depend on how much money one is dealing with, would it vastly different for 120K vs 240K?
I assume you mean annual income and refer to taxes, in which case the answer is no, doesn't matter.

Jersey is close by, is it simple...? when I said close by I did not refer to offshore locations.. There are circumstances where offshore companies make sense, but that is almost never the case when you just start your own business. If you meant simple re adminstration of the company, Jersey is ok.
Reply With Quote
  #29  
Old 07.02.2015, 16:14
Newbie 1st class
 
Join Date: Nov 2013
Location: Suisse Romandie
Posts: 19
Groaned at 0 Times in 0 Posts
Thanked 2 Times in 2 Posts
MrGhongati has no particular reputation at present
Re: setting up in Switzerland vs. off-shore company

Thanks BorisR.

Since my income will be exclusively foreign apparently there are definitions in company formation which limit the amount of taxes one has to pay. I found the below whilst researching on the internet, not sure if I can post the link so copying(credit to author).. anybody availed or know of these beneficial company definitions?


------------------------------------------
Domicile Company
Conditions to profit from the domicile company tax statute:
The tax statute of the domicile companies applies to companies whose incomes come exclusively or primarily from commercial activities carried on out of Switzerland or administrative activities carried on in Switzerland for the account of other companies of the group.
Cantonal and communal tax on the benefit:
Companies whose commercial activity proceeds exclusively abroad:
The incomes of foreign source are taxed in a reduced way according to the importance of the administrative activity carried on in Switzerland. When the shareholder is foreign and that the strategic decisions are taken abroad, there are in theory only 5% to 10% of the benefit coming from foreign source which are taxed by the canton.
Companies whose commercial activity proceeds primarily abroad:
The companies whose commercial activity is primarily foreign-directed and who carry on in Switzerland only a subsidiary commercial activity (about 20 to 30% of the turnover) are taxed by the same manner that the companies whose activity proceeds exclusively abroad, except that the benefit coming from the commercial activity in Switzerland are subjected to the ordinary tax.
----------------




TIA
Reply With Quote
  #30  
Old 07.02.2015, 16:41
Junior Member
 
Join Date: Mar 2013
Location: Zurich
Posts: 33
Groaned at 3 Times in 1 Post
Thanked 26 Times in 13 Posts
borisr has no particular reputation at present
Re: setting up in Switzerland vs. off-shore company

cf: http://www.steueramt.zh.ch/internet/...2012+03+16.pdf

From what you said so far, a domicile company could be feasible in your case. However, with the numbers you mentioned and assuming that you'd hire yourself for your company and pay yourself a wage, I don't think the company should make too much profit (if you don't pay yourself a wage but want to live of dividens, that is possible too, but then you get taxed twice: 1x for the profit the company needs to make so that it can pay dividens, 1x for the dividens you get). So basically your set up should be so that at the end of the year your company has made only a marginal profit (bc your wage is basically as high as the profit the company makes) and then it doesn't really matter whether it's a domicile company.

Considering the questions you're thinking about, I'd say you've probably reached a stadium where it would make sense to structure what you have so far and take that to your lawyer - there is only so much preparation which makes sense, at a certain point you have done so much research and have so many questions on options which do not make sense for you that you just add to your bill bc your lawyer will end up explaining you the reasons for why those do not work instead of just recommending you the best solution..
Reply With Quote
  #31  
Old 11.02.2015, 21:02
Newbie 1st class
 
Join Date: Nov 2013
Location: Suisse Romandie
Posts: 19
Groaned at 0 Times in 0 Posts
Thanked 2 Times in 2 Posts
MrGhongati has no particular reputation at present
Re: setting up in Switzerland vs. off-shore company

part of the research, making me think of this alternative too..


Setup an offshore company, declare it to the authorities and get taxed on the dividends or salary from it.

The idea of the offshore company being to minimize the hassles with VAT, Insurances, deadlines, forms in French/German etc etc
There also might be tax savings avenues by retaining profits as reserve etc I guess one is only liable for dividends and salary which paid out.
The usual work related expenses will reduce profit same an onshore company.

For a services company(equivalent to UK 1 man Ltd company) getting income outside of Switzerland(contracting abroad in UK/EU/US etc)...

This seems like a good option, anybody see any holes in my theory?

TIA
Reply With Quote
Reply

Tags
offshore, sarl, tax impact




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Setting up a Swiss company Flower Business & entrepreneur 9 21.06.2011 15:08
SROs - setting up Financial Services company Flower Finance/banking/taxation 3 29.04.2011 16:06
Information about setting up a small company Kates Employment 2 20.09.2010 13:06
Rocky shore in river Reuss, location? Venturello Travel/day trips/free time 1 09.07.2010 15:52
Setting up a company guybrush Finance/banking/taxation 1 10.03.2007 13:35


All times are GMT +2. The time now is 08:41.

Comparis

Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2017, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0