Czech Resident company structure

I’m looking to create a holding company as a place to park various online businesses ( Such as e-commerce websites and blogs etc…), And to also have the ability to accept online payments via Credit cards and debit cards from my clients. Currently I am only accepting payments via PayPal and want to expand.

I am a tax resident in Czech Republic right now, and my clients location will depend on which website they are buying from, for example I have a website that sells products mainly to European clients. But I also have another business ( a blog ) where most of the clients are from English speaking countries, such as US, Canada and Uk.

Assuming that i will be moving out of Czech Republic in the future, what is the best jurisdiction to incorporate my business and to open a bank account?

I will need the following things

  • Access to good banks and online banking
  • Access to credit card payment providers
  • Simple tax reporting and all the necessary paperwork
  • Flexibility, meaning i don’t have to change my structure after i decide to leave the Czech republic.

Is a BVI company + Czech/ bank account a good option? or Estonian company ?
Did anyone do anything similar, what doses your structure look like?

Thanks !

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Hi.

If I were you I would seriously consider becoming a tax resident in Panama (if you are a national from a friendly nation - 48 nationalities apply). There are two advantages:

  1. As a resident one only pays taxes for income generated in Panama.
  2. There are no requirements to live in Panama to acquire or maintain residency status.

In order to become a resident, you need some economic ties to the country - having a company incorporated there will do. There is no need to travel to Panama to incorporate a company there. This company could handle the business from English-speaking countries.

Panama has a bad reputation because of the Panama papers but it is not an offshore jurisdiction. It complies with all money laundering international norms. The company registry is public and one cannot hide its identity behind a company structure.

In order to become a resident, you may have to spend about 4 weeks in Panama in total. Opening a bank account there requires physical presence and some proof of earning potential. It depends on the bank or how influential your local lawyer is with the bank.

If you are a non-EU resident, Estonia will not withhold personal income tax from your salary or earnings operating an Estonian business (which could handle the EU business aspect).

Last but not least, always check with a lawyer before making any move (I can refer you to a good and not very expensive lawyer in Panama if you are interested).

I hope you find it useful.

Hello good morning,

We are an accounting and consulting firm in Sofia - Bulgaria, here I’ll tell you why in my opinion can be a great move:

  • with a company you can manage different type of businesses
  • you are in EU, which is easy to work with EU companies but also Not-EU ones.
  • possibility to have a bank account + online banking
  • simple tax scheme (10% on profits + 5% on dividends)
  • you don’t have to change structure in case you will leave Czech Rep.

If you are searching for a different structure with less taxation, I can suggest an International Tax Planner who is collaborating with us.

I hope this is helpful :wink:

Have a nice day