How Much Does it Cost to go Offshore? (Does it make sense for you?)

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What does it take to get set up in a foreign country? What does it look like to set up a structure, and what are the costs involved in this process?

As always, there is no one size fits all. Every country has different rules, and not every country makes lots of sense for everyone. However, we are going to try and give you some general guidelines on what to expect when going for an offshore structure.

Also, costs will differ whether you're getting a residency abroad or whether you just form an offshore company. If you're setting up a residency abroad, along with the company you can expect to pay anywhere from $3000 to $10000. Sometimes it can cost less or a lot more than this, but this would be the general range.

After this, you will have the hard costs of actually moving to another country. This can have a positive impact if you're moving from an expensive to a cheap country because your costs of living will go down drastically. Places in Eastern Europe, Southeast Asia, and Latin America generally have a lower cost of living than Western Europe and North America.

What could also happen is that you move from a cheaper to a more expensive place. You could move from Bulgaria or India to UAE, and all of the sudden your costs of living will dramatically increase.
Keep in mind that if you want to move to Dubai, chances are you will have to pay rent a year in advance. This means that you'll need to tie lots of cash just for that part.

The next thing is setting up a corporate structure. Sometimes this will be included in the price of residency, and sometimes it will not. For example, if you set up a company in the UAE your residency permit will be included in the price.

Setting up a company will also range, depending on how you structure and depending on how complicated your structure is.
If you're just registering a company you can realistically expect to pay around $2000. On the higher end, this process could cost around $15000. If we are talking about multi-layered structures with trusts involved you can expect to pay much more, anywhere from $35000 to $65000.

Depending on who much you're making, your tax bill will be higher or lower. If you're not making much money international structure might not make any sense for your case, because the costs might overweight the savings in tax. If you're making quite a bit, and your tax bill is huge then an offshore structure is certainly a good deal for you, since it will save you lots of money.

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We are Offshore Citizen team. We help people become global: get a second passport, set up a second residency, pay less taxes, do banking abroad, etc.

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Author: Michael Rosmer

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