What happens when you set up a cheap offshore company online?
Andrew decided to run an experiment to see what happens when you do something that is not advisable when going offshore.
To start off, it’s important to note that just setting up an offshore company isn’t enough, there are documents you need to fill and some bureaucracy to go through.
Andrew opted out for opening Belize company because there aren’t too many due diligence requirements, but because of this, banking might be more difficult.
Not to much surprise, the process of setting up the company was delayed, though eventually, the company was up and running.
There have been plenty of other obstacles along the way and they portray that you can’t expect high-class customer service when you pay as little as possible.
To find out how did the experiment work out (or didn’t?), keep your eyes peeled to help you decide whether or not opening a cheap offshore company online is worth the hassle.
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ABOUT NOMAD CAPITALIST
Andrew Henderson travels to nearly 30 countries every year to stay up to date on the latest legal strategies for entrepreneurs and investors to pay less tax, grow their money faster, and build their personal freedom.
Andrew started Nomad Capitalist to help people like you follow his five magic words: “go where you’re treated best”. He has personally started foreign companies, opened offshore bank accounts, and obtained multiple second passports.
He also learned the hard way that perpetual information seeking is often the biggest barrier to getting the results you want. Many entrepreneurs spend months and even years constantly researching how to pay less in tax or live overseas, but are afraid to make the jump.
As a result, they get stuck and keep paying a fortune in taxes and never get the lifestyle they deserve.
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