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  • #979221
    Zava Design
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    Hey guys,

    I tried to bump this old thread to keep it in once place: http://www.flyingsolo.com.au/forums/money-matters/18571-registering-business-living-overseas-any-experience-regards-tax.html

    However it was “too old” apparently, so apologies for this duplicate thread.

    I am now actively looking for an accountant or similar with experience in the area of setting up off shore companies and accounts for clients. Completely legal & legitimate, not interested in anything dodgy, it’s about tax minimisation, not tax avoidance. Big difference.

    If anyone knows of anyone would appreciate their details.

    Thanks.

    #1112896
    MatthewKeath
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    Re: Need an accountant with experience at setting up off shore companies & bank accou

    Sounds ethical! ;)

    (couldn’t resist)

    #1112897
    JohnSheppard
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    Re: Need an accountant with experience at setting up off shore companies & bank accou

    Zava Design, post: 125956 wrote:
    it’s about tax minimisation, not tax avoidance. Big difference.

    Hello there, sorry I cannot recommend anyone. I hope I don’t ruin your thread, but I was curious what the difference between tax minimisation and tax avoidance is?

    #1112898
    Zava Design
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    Re: Need an accountant with experience at setting up off shore companies & bank accou

    Tax avoidance is illegal.

    Tax minimisation is everything your ethical, legal accountant can do to reduce your tax. I don’t live in Australia at the moment, and don’t intend to for a while, hence makes logical business sense to review where my company registration is.

    #1112899
    Zava Design
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    Re: Need an accountant with experience at setting up off shore companies & bank accou

    MatthewKeath, post: 125960 wrote:
    Sounds ethical! ;)
    Actually, very. You should read up on it as I have. For any company that does the majority of their business outside Australia it makes sense. Hong Kong corporate tax rate is 15% I believe. Why wouldn’t you base your company there if, for example, most of your business was in Asia? The ATO will certainly have something to say if I am breaking any law, I certainly won’t be hiding anything from them.

    (couldn’t resist)

    Maybe next time you should. :p

    #1112900
    MyGreatIdea
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    Re: Need an accountant with experience at setting up off shore companies & bank accou

    Zava Design, post: 125975 wrote:
    I don’t live in Australia at the moment, and don’t intend to for a while…

    mmm…perhaps you could change your location through the control panel then so that your profile is true. It’s always nice to know the other members we are interacting with are who they say they are.

    Wendy :)

    #1112901
    Zava Design
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    Re: Need an accountant with experience at setting up off shore companies & bank accou

    Well I am an Australian, and my business is still a NSW/Australian registered business, and since this is a forum about my business and not personal life… ;)

    If you’re interested in my personal life feel free to subscribe to my blog: http://nakedchronicles.com

    Cheers.

    #1112902
    JohnSheppard
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    Re: Need an accountant with experience at setting up off shore companies & bank accou

    Zava Design, post: 125975 wrote:
    Tax avoidance is illegal.

    Tax minimisation is everything your ethical, legal accountant can do to reduce your tax. I don’t live in Australia at the moment, and don’t intend to for a while, hence makes logical business sense to review where my company registration is.

    Ic, thanks Zava….

    I wonder if that kind of thing may be detrimental to your own marketing activities. I.e. Many people are fairly parochial…It’d be a consideration anyway…

    #1112903
    Zava Design
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    Re: Need an accountant with experience at setting up off shore companies & bank accou

    I haven’t experienced that problem. Indeed when I first started freelancing I was based in Kenya (2 years working with street kids), and targeted Australian clients with no problems. As I’ve commented in another thread at some time, even when I was living in Australia I never met 90% of my clients in person, but still very much pride myself on the quality of my work AND my client relationships (I have had plenty of years of face to face too, which obviously helps). Hence why majority of my work is referrals and networking.

    Also why in another thread on the “locality” matter, I mentioned that there’s far more to finding a good service provider than just location.

    Plus add that to the growing amount of my business coming from overseas (US, UK), and I can only see that continuing with some of the business ideas I have in mind.

    I also still work with a number of Australian based colleagues on various projects, including some fairly sizable ones in the works, so plenty of my involvement is still “Australian” for those who’s parochialism is a focus. Some upcoming online sites/apps are very much “proudly Australian”… as they say, you can take the boy out of the country, but… ;)

    Also, just got thinking (as I looked towards the TV), many of those athletes we’re currently cheering on in London are offshore residents for tax purposes. Does that make them any less Australian? ;)

    #1112904
    James Millar
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    Re: Need an accountant with experience at setting up off shore companies & bank accou

    Hi Zava

    You raise some good points with regard to offshore trade and legitimate tax minimisation for business. The debate about the ethics is a matter of personal opinion but as a professional tax advisor I can say that pretty much everyone’s objective is to pay as little as legally possible (it is the biggest expense we all face).

    With global trade (especially driven by the internet) there is an increasing need for advice in this space. We typically leverage off our international tax lawyers for more protracted strategies as they have the capability to incorporate entities around the world to a professional standard.

    Keep in mind that this is a highly specialised advisory space and for good reason. The tax relations with every country are different and there are many variables to consider. As a consequence you need a decent budget for the right advice and if you are prepared for that by all means contact us – we would be happy to assist.

    Helping build better businesses and better lives with expert financial and taxation advice. [email protected] www.360partners.com.au 03 9005 4900
    #1112905
    Zava Design
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    Re: Need an accountant with experience at setting up off shore companies & bank accou

    JamesMillar, post: 125991 wrote:
    … you need a decent budget for the right advice…
    Yeah that’s the crunch…
    #1112906
    JohnSheppard
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    Re: Need an accountant with experience at setting up off shore companies & bank accou

    Zava Design, post: 125990 wrote:
    many of those athletes we’re currently cheering on in London are offshore residents for tax purposes. Does that make them any less Australian? ;)

    lol, well it does make them less Australian if people know about it….I guarantee if regular joe aussie supporter knew *scratches head* hmm say Cadel Evens wasn’t paying Australian Taxes they wouldn’t be too happy about it.

    Why do people even support local athletes, football teams, etc, they’re just people, same as people that live in different locations…

    I guess it boils down to feeling important via association…

    As long as you can associate via other means I guess location isn’t an issue….

    #1112907
    Zava Design
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    Re: Need an accountant with experience at setting up off shore companies & bank accou

    I’m actually not that concerned about nationalism and borders to be honest. We all share the same planet. It’s why I have no problems with the digital age enabling those on far flung countries to benefit from our economy by doing outsourced work. We can’t have the benefits of the global economy and technological advances without being willing to share those benefits.

    But now we’ve gone off topic completely. ;)

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