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Nice channel! What's the legal setup that as an independent consultant is the best option to establish?

I assume that is always best to work through a company for liabilities, etc?

Also, assuming most of the work can be done remotely, I guess there are a few possibilities regarding where to set up the company for Tax optimization

We have errors and emissions insurance to be covered for any issues. 

"Best" is entirely dependent on your needs and plans.

I want complete separation between my business assets and my personal, so my business is managed and taxed as an LLC and a Partnership, even though I have no employees or partners. I keep separate bank accounts in a completely different bank. I carry E&amp;O insurance as well.

Some people might be totally fine with a Sole Proprietorship and using their personal accounts

Same as <@U29PVMVAR> over here. Also if we need more consultants for a project they’re all 1099s. 

In the UK, you want to set up a Limited Company where you would be the Company Director. Clients are contracting with your business instead of directly with you.

Your timezone suggests you're an hour ahead of me so maybe you're somewhere in Europe? Most EU countries have a similar structure available.

^ In the US, if you want to work with international companies, you definitely want some sort of company established as well. Much easier to work with them if they are going through your business rather than you as an individual.

I am based in the European Union :slightly_smiling_face:

Indeed I would assume a Limited Company or a similar option might be the best option if based here, but I also have seen some people with small consultancy companies here opening a LLC in the US even though they are based from Europe.

I guess is best to always check first with another independent consultant expert on those topics aka lawyer :grin:

Yeah I would recommend seeking the advice of a business lawyer. I am in the US and have an LLC taxed as an S-Corp. 

<@U015U4YDS4C> I wouldn't incorporate offshore without a good reason.

You don't need a lawyer to set up an LTD (or equivalent) in most countries.

I am incorporated in Canada and USA both, now looking into Asia

Why Asia <@U2A2VHL3W>? I guess is because it makes easier doing business over there?

<@U015U4YDS4C> untapped market - since countries are developing companies are also modernizing. Note population of Asia is far more than West, more opportunities for growth

Having done plenty of NetSuite and SAP in Asia, I can tell you it’s not “easier”.

<@UFAHSLYJ1> I know that communication gap can be a big challenge also the mindset

That totally true! I wonder how is NetSuite adoption in Asia tho, and also whether there are a lot of gaps in terms of Product fit.

I remember reading here in the community that there were challenges with NetSuite in Japan for example.