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Ask HN: Where should I incoporate my business

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Ask HN: Where should I incoporate my business

#1

Post by nevodavid10 »

I am an Israeli living in Thailand - I recently removed my tax residency from Israel.

I have an old C-CORP (Delaware) in the US that I created a few years back as I thought of building a big company to get investors and other founders - the more time passed, I bootstrapped stuff and made it very profitable as a single-person company.

C-CORP for my scale and intention makes no sense. I am considering incorporating a new LLC in the US because it has some benefits of not being a citizen/resident and having customers from abroad.

I am mainly trying to save money on taxes and still be a legitimate business and use things like Stripe (in the future)

But is my best option?

I know you don't have all the context, but I hope to hear your stories.

Re: Ask HN: Where should I incoporate my business

#2

Post by muzani »

If you're living in Thailand, how about Singapore? Corporate tax at 17%. Personal tax capped at 22%. Incorporation cost seems quite cheap, but you might want to ask them directly.

They're a startup launchpad for a good reason. Plenty of American and Asian investors & acquirers. The latter is more valuable now as American investors struggle with the economy.

Also really good finance infrastructure. Stripe has trouble landing in much of SEA, but does fine in Singapore.

Re: Ask HN: Where should I incoporate my business

#4

Post by fauigerzigerk »

muzani wrote: post #2

If you're living in Thailand, how about Singapore? Corporate tax at 17%. Personal tax capped at 22%. Incorporation cost seems quite cheap, but you might want to ask them directly. They're a startup launchpad for a good reason. Plenty of American and Asian investors & acquirers. The latter is more valuable now as American investors struggle with the economy. Also really good finance infrastructure. Stripe has trouble…

>Personal tax capped at 22%

You generally pay personal taxes where you live, not where your company is incorporated.

Re: Ask HN: Where should I incoporate my business

#5

Post by nevodavid10 »

muzani wrote: post #2

If you're living in Thailand, how about Singapore? Corporate tax at 17%. Personal tax capped at 22%. Incorporation cost seems quite cheap, but you might want to ask them directly. They're a startup launchpad for a good reason. Plenty of American and Asian investors & acquirers. The latter is more valuable now as American investors struggle with the economy. Also really good finance infrastructure. Stripe has trouble…

Interesting! Thank you for the answer. But taxes seem quite high. I am aiming to incorporate something more like an LLC without paying corporate taxes - it's not far than what I pay for Delaware (21%)

Re: Ask HN: Where should I incoporate my business

#6

Post by nevodavid10 »

skullone wrote: post #3

A US LLC isn't the worst idea. Benefits include getting easier vetting from US based companies to some degree, some payment systems get the wheels greased if you are a US company and such too.

I think so too, Just trying to see also other alternatives

Re: Ask HN: Where should I incoporate my business

#7

Post by nevodavid10 »

fauigerzigerk wrote: post #4
muzani wrote: post #2

If you're living in Thailand, how about Singapore? Corporate tax at 17%. Personal tax capped at 22%. Incorporation cost seems quite cheap, but you might want to ask them directly. They're a startup launchpad for a good reason. Plenty of American and Asian investors & acquirers. The latter is more valuable now as American investors struggle with the economy. Also really good finance infrastructure. Stripe has trouble…

>Personal tax capped at 22% You generally pay personal taxes where you live, not where your company is incorporated.

I guess he means if the US entity employs you. Then you will probably pay this + the rest in your home country if there is a double taxation treaty (and taxes are higher).

Re: Ask HN: Where should I incoporate my business

#8

Post by throwaway318 »

muzani wrote: post #2

If you're living in Thailand, how about Singapore? Corporate tax at 17%. Personal tax capped at 22%. Incorporation cost seems quite cheap, but you might want to ask them directly. They're a startup launchpad for a good reason. Plenty of American and Asian investors & acquirers. The latter is more valuable now as American investors struggle with the economy. Also really good finance infrastructure. Stripe has trouble…

Why Singapore and not, say, Wyoming that has no corporate tax.

Personal tax isn't paid if you're not tax resident, and OP seems to be resident in Thailand so will have to follow relevant laws there.

If ASEAN free trade's of benefit, perhaps. Or if going for a Singapore ID card then having a profitable business might be worth it. Or access to SE Asia finance. Outside these, Wyoming!

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