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What country should I register my company to work for upwork? - Q&A

What country should I register my company to work for upwork?

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I need to open a company to get money from clients on upwork. I am doing the same thing now, but I want to organize everything correctly.

My situation:
- It is necessary that you can specify this company as an agency on upwork and to create a payoneer business account. (Theoretically, payoneer can be replaced with something else).
- Clients are mainly in the USA and Europe, and I do not fully understand the rules about "offshore income".
- Of course, it is better to lower taxes.
- I am a citizen of Russia.
- A trifle, but: I'm in Cambodia now and all borders are closed for an indefinite period, so yes, only 100% deleted options are suitable for me.

As far as I understand, the options are HK, Estonia, Delaware LLC, Singapore. Again, as I understand it, the most difficult thing is to open a bank account (they say that in Hong Kong and Estonia it is just difficult).
asked by (1.3k points) | 62 views

2 Answers

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"virtual company in Estonia for 5%

company in Estonia
don't forget about VAT in Europe

US company and bank account remotely

and why do you need company, exactly?
Legal entity gives double taxation - first you pay tax on the profit of the company, and then also on the income of the individual. The exception is the company registered in the form of "partnership", where only individuals are taxed and the company is transparent to taxes (for example, LLC in the U.S. and LLP in the UK).
And it is also more correct to accept payments to a foreign company, most of the money is transferred to the Russian Federation ip on the patent, STS6 6% and self-employed and pay small taxes in the Russian Federation, thus reducing the taxable base, and then you will have a small profit in a foreign company - pay less taxes on it.

also for foreign companies - do not forget about regular reports for the CEC, on small amounts like so far everyone is scoring on it.
answered by (160 points)
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In Poland, business incubators for freelancers exist and work; you can obtain a residence permit on the basis of work in them.

I recommend the MojaFirma incubator, I’ve never been let down in five years, I still work with them.
But do not mess with TwojStartUp, I lost both money and time. This is due to incompetent staff, up to senior management, who do not care about you.
The rest of the incubators are more focused on the domestic market, on the Poles and their business, therefore there is less experience working with foreigners and the orientation is mostly NOT on freelance and IT. And higher payment for services.

Incubator services cost about $ 150 per month. And that’s all, no “hidden fees” (well, from what I came across). The main thing is to have time to withdraw money before the end of the month, like your salary, or they will become the "profit" of the company and have to pay another 20% of income taxes.

Through an incubator, you work under a subcontract. Taxes are about 16-18%. Honey. you arrange private insurance (about $ 35), that is, you do not pay% of salary for "state" honey. insurance. You can not pay the pension fund either, the agreement allows, but then it is clear that there will be no pension (although private funds can be found, no problem).
answered by (700 points)
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