Checklist for opening a hosting company?

DP

Yep, at the end of the day, plane tickets > support tickets

skorupion

@HostSlick said:

@skorupion said:

@Amadex said:

@quanhua92 said:

@Amadex said:
Any advices where to form cheaply a company with low taxes + biz bank acc outside of EU?

Setup a LLC in US. I use https://www.firstbase.io/ service to do everything. Got a Mercury bank. Taxes are also handled by Firstbase partners.

Thanks for this US based.
What about taxes in UK? Are they high for "remote non-uk citizens"? Do I need to pay healthcare if I'm not residing there etc.?

Currently I'm migrating my existing clients to one node. France + Croatia (coming soon) servers for now. My target market is not low-end. I would rather give someone a VPS for free than do deal with chargebacks for 3$ .

Brand is:
https://www.virtmach.com/
https://status.virtmach.com/
https://www.virtmach.net/

https://www.pinsentmasons.com/out-law/guides/an-introduction-to-tax

Nope it is 50 k tax free, and VAT is over 85 k.

And no, you don't have to pay insurance nor pension

Due to VAT moss as long as your digital sales to EU are less than £8,818 and your total sales (including these digital sales) are less than £85k then this is correct.

Otherwise you are wrong.

Also depending on your country you need to fill out a form and report them that you own a entity abroad.

Thanks for that info

HostSlick

@skorupion said:

@HostSlick said:

@skorupion said:

@Amadex said:

@quanhua92 said:

@Amadex said:
Any advices where to form cheaply a company with low taxes + biz bank acc outside of EU?

Setup a LLC in US. I use https://www.firstbase.io/ service to do everything. Got a Mercury bank. Taxes are also handled by Firstbase partners.

Thanks for this US based.
What about taxes in UK? Are they high for "remote non-uk citizens"? Do I need to pay healthcare if I'm not residing there etc.?

Currently I'm migrating my existing clients to one node. France + Croatia (coming soon) servers for now. My target market is not low-end. I would rather give someone a VPS for free than do deal with chargebacks for 3$ .

Brand is:
https://www.virtmach.com/
https://status.virtmach.com/
https://www.virtmach.net/

https://www.pinsentmasons.com/out-law/guides/an-introduction-to-tax

Nope it is 50 k tax free, and VAT is over 85 k.

And no, you don't have to pay insurance nor pension

Due to VAT moss as long as your digital sales to EU are less than £8,818 and your total sales (including these digital sales) are less than £85k then this is correct.

Otherwise you are wrong.

Also depending on your country you need to fill out a form and report them that you own a entity abroad.

Thanks for that info

Just updated the Post. Forgot some Info.

Big mess it is with UK now

cmeerw

@skorupion said:
https://www.pinsentmasons.com/out-law/guides/an-introduction-to-tax

Nope it is 50 k tax free, and VAT is over 85 k.

I am not seeing where that page says that 50k would be tax free - it's only saying that the 25 % corporation tax rate applies for companies with profits above 50k (19 % would still apply for those below that threshold). And this is, of course, just corporation tax, you will still be taxed (in your country of residence) for any money you want to take out of that company (as a salary or dividends or whatever).

MichaelCee

There’s no 50k tax free. I’ve paid the (previously) 20% rate on even £100.

https://www.gov.uk/corporation-tax

https://www.gov.uk/corporation-tax-rates

Maybe you can swing 50k in tax deductible expenses, I don’t know 😉

Ympker

@MichaelCee said:
There’s no 50k tax free. I’ve paid the (previously) 20% rate on even £100.

https://www.gov.uk/corporation-tax

https://www.gov.uk/corporation-tax-rates

Maybe you can swing 50k in tax deductible expenses, I don’t know 😉

Is OnePoundMail registered as a Limited( Ltd.) or as a solo entrepreneur (if that exists in the UK)?
Regardless, if @MichaelCee says there is no 50k tax free he'd probably know

Btw. @MichaelCee : You might wanna replace your Google Fonts in the index.html with BunnyFonts for GDPR reasons

The Bunny Fonts platform is fully compatible drop-in replacement for the Google Fonts V1 API, allowing for a seamless transition to our GDPR-compliant platform.

If you are already using Google Fonts, you can simply substitute https://fonts.googleapis.com/css with https://fonts.bunny.net/css in your HTML code.
Ready made for you: <link href="https://fonts.bunny.net/css?family=Open+Sans:400,700|Poppins:400,700|Raleway:400,700&amp;display=swap" rel="stylesheet">

Fwiw, just found this:

https://eucham.eu/best-european-countries-for-business-2020/

skorupion

@MichaelCee said:
There’s no 50k tax free. I’ve paid the (previously) 20% rate on even £100.

https://www.gov.uk/corporation-tax

https://www.gov.uk/corporation-tax-rates

Maybe you can swing 50k in tax deductible expenses, I don’t know 😉

Yep my mistake. Sorry, at least it ain't hard to rack up operation costs

MichaelCee

@Ympker said:

@MichaelCee said:
There’s no 50k tax free. I’ve paid the (previously) 20% rate on even £100.

https://www.gov.uk/corporation-tax

https://www.gov.uk/corporation-tax-rates

Maybe you can swing 50k in tax deductible expenses, I don’t know 😉

Is OnePoundMail registered as a Limited( Ltd.) or as a solo entrepreneur (if that exists in the UK)?
Regardless, if @MichaelCee says there is no 50k tax free he'd probably know

My brands are just trading names of my own sole entity right now (maybe forever). When I first started in the industry there was a major misconception that you had to be incorporated to get business. It helps but there are plenty of well known sole traders growing businesses.

P.S Thanks for the heads up, watch this space.

bikegremlin

The legendary:

MichaelCee

On the topic of UK incorporation, some other costs to consider:

• £12 to incorporate a company (can get it free third party)
• £13 yearly fee to Companies House
• ICO fee (Mine was £40/year)
• Accountancy - you will maybe need a local and UK accountant for two sets of accounts.
• Business banks from high street branches usually cost per month or transaction. There’s a handful of free banks available

Ympker

@MichaelCee said:
On the topic of UK incorporation, some other costs to consider:

• £12 to incorporate a company (can get it free third party)
• £13 yearly fee to Companies House
• ICO fee (Mine was £40/year)
• Accountancy - you will maybe need a local and UK accountant for two sets of accounts.
• Business banks from high street branches usually cost per month or transaction. There’s a handful of free banks available

Not sure if that's the case in the UK, but maybe you also need a physical (postal) address in the UK, too?
There are services that offer to receive postal stuff for you and offer an address, but it's also extra cost to consider.

MichaelCee

@Ympker said:

@MichaelCee said:
On the topic of UK incorporation, some other costs to consider:

• £12 to incorporate a company (can get it free third party)
• £13 yearly fee to Companies House
• ICO fee (Mine was £40/year)
• Accountancy - you will maybe need a local and UK accountant for two sets of accounts.
• Business banks from high street branches usually cost per month or transaction. There’s a handful of free banks available

Not sure if that's the case in the UK, but maybe you also need a physical (postal) address in the UK, too?
There are services that offer to receive postal stuff for you and offer an address, but it's also extra cost to consider.

That too, had one for about £40/year previously

Ympker

@MichaelCee said:

@Ympker said:

@MichaelCee said:
On the topic of UK incorporation, some other costs to consider:

• £12 to incorporate a company (can get it free third party)
• £13 yearly fee to Companies House
• ICO fee (Mine was £40/year)
• Accountancy - you will maybe need a local and UK accountant for two sets of accounts.
• Business banks from high street branches usually cost per month or transaction. There’s a handful of free banks available

Not sure if that's the case in the UK, but maybe you also need a physical (postal) address in the UK, too?
There are services that offer to receive postal stuff for you and offer an address, but it's also extra cost to consider.

That too, had one for about £40/year previously

Seems like lots of costs adding up, especially if you are catering to the LE market. Can understand why you'd choose to go the sole trader route now.

hmo

1. 24/7/365 working people

Janevski

@bikegremlin said:
The legendary:

Globe trotters.

greenwebpage

From my experience, if you want to start a hosting company, you need the following things
You must know how to target your customers,
To come up with services that fold according to customers' needs
And to get involved and create in what you do, and the time curve to grow the business is quite long, it's about years

Amadex

My first step (one that I'm completed currently) is to put all private clients on my own PX nodes, I'm will put to expire the VMs at different providers. - https://status.amadex.com/

New customers will go under https://www.virtmach.com/ (custom theme is under construction).

BlaZe

@Amadex said:
New customers will go under https://www.virtmach.com/ (custom theme is under construction).

Why Virtmach name?

Amadex

@BlaZe said:

@Amadex said:
New customers will go under https://www.virtmach.com/ (custom theme is under construction).

Why Virtmach name?

Because it's virtual machine, not virual machine 🪗😁

DP

@Amadex said:

@BlaZe said:

@Amadex said:
New customers will go under https://www.virtmach.com/ (custom theme is under construction).

Why Virtmach name?

Because it's virtual machine, not virual machine 🪗😁

But it's still Virtual Machine isn't it not?

BlaZe

@TheDP said:

@Amadex said:

@BlaZe said:

@Amadex said:
New customers will go under https://www.virtmach.com/ (custom theme is under construction).

Why Virtmach name?

Because it's virtual machine, not virual machine 🪗😁

But it's still Virtual Machine isn't it not?

^ this

Can be a branding disaster later on

DP

@BlaZe said:

@TheDP said:

@Amadex said:

@BlaZe said:

@Amadex said:
New customers will go under https://www.virtmach.com/ (custom theme is under construction).

Why Virtmach name?

Because it's virtual machine, not virual machine 🪗😁

But it's still Virtual Machine isn't it not?

^ this

Can be a branding disaster later on

Well, I'm no hosting expert, advisor or holic, but I hope all will go well