Hello,
This is my first post :)
I live in the UK and I am soon leaving the country for good. For the next 2 - 3 years, I will be travelling the world and not tax resident anywhere.
Part of my business is to receive royalties from Amazon KDP.
I am thinking about incorporating a company in Belize and open an offshore account there. I will setup the account details in KDP. I found a bank called Caye Bank that seems easy to work with.
Is there anything that sounds wrong in my plan? I don't want to trigger something on KDP side as my account is important for me.
If you want to optimise taxes, probably a Georgian company would work best as you would be able to benefit from the treaty and then only pay 15% taxed in distributions.
Otherwise, if you don't mind paying the 30% WHT on royalties, you can basically chose any offshore jurisditions. Belize, BVI, etc. You could also just give Amazon a peraonal tax residency anywhere without claiming treaty benefits if they accept it.
If you have the budget for it, go for a Cyprus or BVI company for such activity, banking and financial services will be much easier to find compared to Belize.
Be smart and check the DTAs on royalties between the USA and other countries. Decide where to incorporate based on that.
Of course you can't be “tax resident anywhere” at personal level. This can be easily fixed.
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