Legit Setup or Overcomplicated? Feedback on OCI’s Foundation + IBC Structure

[GPT]

Not even.

Seychelles is really big on sharing information with foreign governments even when there is⁠ no count order.

Seychelles isn’t an option for such uses as OP describes anymore. Any⁤ self respecting intermediary knows this.

Seychelles still has its place in structures when it comes⁣ to superyachts and private jets. Anything else .. avoid them like the plague.

Also its⁢ extremely difficult to open any bankaccount with a Seychelles entity.

 

[GPT]

You mentioned relocation to Cyprus, why︈ not immediately the Cyprus Ltd? Now that you are aware of the tax situation, that︉ cannot be an issue anymore.

By being in CY it also allows you to build︊ up a local CY presence while you are still in DE.

 

[drysponge]

relocate where? the structure will depend on your new tax⁠ residence.

 

[Protect Your Wealth]

One of the best temporary relocation for OP could be Albania. You pay 0% taxes‌ on the first 140k euros/year you make and then 15% on what is above that.‍ Pair it with a US LLC and for the first years you are good to⁠ go (also saving money because it costs 1/3 compared to living in Germany).

 

[drysponge]

what makes you say best? the tax rates themselves or do you‍ recommend the albanian life?

is that so? the PWC summary seems to indicate its 15% below and 23% above⁣, but 0% while you are under the 14m ALL
it also seems that's not⁢ the same thing as CIT which is just fixed 15% as i understand, i don't︀ know anything about Albania and am not sure what exactly "commercial individuals and the self-employed"︁ means exactly, and if OP would fit the criteria
it looks to me like OP︂ would be paying 15% CIT + 8% dividend tax + living in Albania, this doesn't︃ sound good at all.

 

[aniglo22]

* Note that for commercial︁ individuals and the self-employed (as well as entities) with an annual gross income up to︂ ALL 14 million, the PIT rate will be 0%, applicable until 31 December 2029.

 

[drysponge]

yeah thats what i said, you⁠ are exempt while under, but once you are over that would act regressively, you would⁤ be paying 15% on 0-14m, 23% on >14m

 

[aniglo22]

Yeah but he is nowhere close to 161557,76 USD

 

[drysponge]

i have no way of knowing how much op currently makes or will make, what was‌ said about those tax brackets wasn't accurate.

 

[aniglo22]

In the‍ other thread, he said it was $30k.

 

[drysponge]

oh i hadn't seen this until now.

 

[Protect Your Wealth]

Tax rates and cost of︁ life mainly, also if you've been in zones like Valona, you experience a lifestyle quite︂ mediterranean.

Of course we are not talking about employment income, that is taxed differently. I︃ am referring to Law n29 of march 2023. 14M ALL are roughly 140K EUR as︄ of today.

 

[mytoofood]

You make it very complicated for your self for a︋ small digital company in Germany!

Why don't you wait until you have a big company︌ with millions in turnover and then structure things. You could preferable setup a Holding company︍ abroad but which get taxed in Germany or so, but it would make a transition︎ later easier.