Cheapest incorporation + maintenance offshore company
- Thread starter itsmemario123
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Good luck with your journey and just as a heads up be prepared to change plans. If you went with either Romania or UAE In the last 1-2 years you would have to adapt. Romania used to be revenue up to 1mil EUR and ~6% tax to 500k EUR and ~9% tax. UAE went from having no taxes except VAT to 9% CIT starting in June without clear definition of what qualifying freezone income means (how to keep freezone CIT at 0%) and pretty strict definitions of natural persons being liable for CIT.
Thank you!!
Reading about this, it seems︀ that over time is going to be harder to optimize. Well, lets enjoy what we︁ can while it lasts 😛
Reading about this, it seems︀ that over time is going to be harder to optimize. Well, lets enjoy what we︁ can while it lasts 😛
Two questions:
(1) Don't you lose your residency in a country once you are gone for more than one year?
(2) Is residency and the place you pay taxes the same thing in this scenario?
PS. I tried to set up a residency +20 years ago, but it kept being canceled because I would not return (on the "plantation") within the allotted time. I tried several EU countries and even the US, but once you are gone for over a year, they︀ canceled my residency permit.
How can I find︈ out more about this?
(1) Don't you lose your residency in a country once you are gone for more than one year?
(2) Is residency and the place you pay taxes the same thing in this scenario?
PS. I tried to set up a residency +20 years ago, but it kept being canceled because I would not return (on the "plantation") within the allotted time. I tried several EU countries and even the US, but once you are gone for over a year, they︀ canceled my residency permit.
How can I find︈ out more about this?
1. Normally yes, but it depends︀ on the rules of the country. If you set up a residency somewhere, you should︁ commit to follow the rules to keep it.
2. Not necessarily.
You can find more︂ info by reading the specific rules of the countries you are interested in.
2. Not necessarily.
You can find more︂ info by reading the specific rules of the countries you are interested in.
How so? I'm just answering your question. Not all countries have the same residency rules, and some don't even require physical presence.
I've never seen a BuzzFeed article about it, but off the top of my head you have Vanuatu. You can also buy citizenship there.
You also have countries with minimal presence requirements, such as UAE, which requires you to spend only a day there every 6 months.
You also have countries with minimal presence requirements, such as UAE, which requires you to spend only a day there every 6 months.
I travel for my business for almost the entire year, i,e. +10 months out of the year. The 2 months I can be somewhere else I prefer to spend a month with my mom and another with my daughter and they don't live on the same continent.
UAE = One MUST travel there once every 6 months. Major inconvenience for me. Also not possible due to other travel arrangements.
MX = As far as I read and spoke to a friend who works for MX immigration if I︀ leave for an extended period of time, I will lose my temporary residency.
Hungary =︁ You also have to be there for a specified period of time.
The search function︂ brings up nothing that is of use to me. I'm asking questions because I need︃ a solution for me.
UAE = One MUST travel there once every 6 months. Major inconvenience for me. Also not possible due to other travel arrangements.
MX = As far as I read and spoke to a friend who works for MX immigration if I︀ leave for an extended period of time, I will lose my temporary residency.
Hungary =︁ You also have to be there for a specified period of time.
The search function︂ brings up nothing that is of use to me. I'm asking questions because I need︃ a solution for me.
Like I said, Paraguay is one every 10 years, as far as I remember. It's an option that is popular with digital nomads for that reason.
UAE is no longer a strict 6 months anymore either. It can be 12 months under certain conditions, I believe for Golden Visa holders.
Not sure why you care about residency so much though. What do you need it for?
UAE is no longer a strict 6 months anymore either. It can be 12 months under certain conditions, I believe for Golden Visa holders.
Not sure why you care about residency so much though. What do you need it for?
Thank you for your thoughtful answer. I appreciate it.
The reason I need it is that in the 80s and early 90s, I invented/developed 4 things. I sold all 4 of them. The money︀ was deposited (after splitting them into equal parts) during that time in Swiss banks and︁ Hong Kong banks. In 2007 I sold my last business and then I started traveling︂ and attending Uni in different countries to learn the local languages. Banks have now (end︃ 2022/2023) started to ask for "proof of residency" and where I am "tax domiciled".
The reason I need it is that in the 80s and early 90s, I invented/developed 4 things. I sold all 4 of them. The money︀ was deposited (after splitting them into equal parts) during that time in Swiss banks and︁ Hong Kong banks. In 2007 I sold my last business and then I started traveling︂ and attending Uni in different countries to learn the local languages. Banks have now (end︃ 2022/2023) started to ask for "proof of residency" and where I am "tax domiciled".
Yeah, look into Paraguay. But you wouldn't be considered tax resident there. Might be easier to go with UAE if you absolutely need tax residency, check out the requirements for the 12 month thing.
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