In which country should I register a company to work on upwork?

Question

Upwork

I need to open a company in order to receive money from clients on upwork. I still do the same thing, but I want to organize everything correctly.

My situation:
- I need to be able to specify this company as an agency on upwork and to create a payoneer business account. (Theoretically, payoneer can be replaced with something else).
- The clients are mainly in the US and Europe, and I don't fully understand the rules about "offshore income".
- Of course, less taxes would be better.
- I am a citizen of Russia.
- A trifle, but: I'm in Cambodia now and all borders are closed indefinitely, so yes, only 100% remote options suit 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).

Answer 1

"virtual" company in Estonia for 5%
https://www.xolo.io/go
company in Estonia https://nordicconsult.ee/en/
do not forget about VAT in Europe
a company in the USA and a bank account remotely
https:/ /firstbase.io/ru
https://mercury.com/
why do you need a company?
A legal entity gives double taxation - first pay tax on the company's profits, and then also on the income of an individual. The exception is companies registered in the form of a "partnership", where only individuals are taxed, and the company is transparent for taxes (for example, in an LLC in the USA and an LLP in the UK).
And it’s also more correct to accept payments to a foreign company, transfer most of the money to the Russian Federation on a patent, USN6 6% and self-employed and pay small taxes in the Russian Federation, thereby reducing the tax 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 CFC, for small volumes, it seems that everyone is slaughtering it for now.

Answer 2

What about the meaning? In Russia, the tax rate is only 6%. In many regions, a cheap patent is available that replaces all taxes. For example, I have a patent worth 3200. Plus 40 thousand mandatory contributions. In total, I pay only 43 thousand for the year, regardless of the amount of income. It's hard to come up with better conditions.
Russia has excellent online banks for entrepreneurs. Now, during the period of self-isolation, an account can be opened without a single visit to the bank at all. IP can also be opened remotely (I don’t know, however, whether it is required to visit the tax office to pick up the docks).
So I don't see the point in making life so difficult for myself.

Answer 3

If you need a move, then you can open it in Poland, there are just freelance incubators there!