Low-Tax EU or Non EU Company Setup with Substance, Advice Needed!

[JustAnotherNomad]

Wait, what? You were looking for a low-cost setup⁠ (25k), now you want to move to Monaco?
You know that you will need a⁤ couple million just to be able to move there?

There are a couple of threads⁣ about this, for example:

Long story short - it's not cheap. Monaco basically also doesn't have any tax treaties, so️ if your home country has any claim against you, your Monaco residency won't help you.‌
There are many cheaper options.

 

[plotoffshore]

Nooo, you need to get out of your home‍ and visit countries to learn, you can't learn just from Internet.

 

[JustAnotherNomad]

Please enlighten us how you're‍ planning to move to Monaco and how much you're intending to spend.

 

[sebastian]

why several? what business are you into?

 

[sebastian]

Oof, I’d hurry up and grab that Mentor Group Gold upgrade before the banhammer swings‍ and your posts vanish for self-promotion

 

[jayM]

already gone, that was‍ quick

 

[blizz]

I agree, if you don’t like the⁠ taxation, then leave the country.
Sweden isn’t even the worst Scandinavian country when it comes⁤ to taxes.

 

[Propeller]

So does that mean you move to another country but keep your current address and⁤ residence, while becoming tax resident in the new country? Is that how it’s supposed to⁣ work?

And what do the tax authorities in your home country say about that?

 

[Martin Everson]

It is as I said below. You need to look at⁤ your specific tax code to see how work performed overseas is treated. It's very country⁣ specific.

 

[Propeller]

ahh okay, Sweden, will have to check if I can figure out.⁠

 

[Martin Everson]

https://www.skatteverket.se/service...sworkingabroad.4.7be5268414bea064694c568.html​

---- quote start

Swedish residents working abroad for at least six‌ months​

If you are resident in Sweden and work abroad for at least six months,‍ this employment income is exempt from Swedish income tax if:

• The income is taxed in⁠ the working country under its domestic tax laws and applicable tax treaties, and
  
• you do⁤ not spend more than six days per month, or a maximum of 72 days per⁣ 12-month period, in Sweden.
  

Remember that when counting up stay in Sweden, part of a⁢ day counts as a full day.

Your income from employment when working abroad will normally︀ be taxed in Sweden if the conditions above are not fulfilled. This exemption rule does︁ not apply if you work on a ship or a Swedish, Danish or Norwegian aircraft.︂

----quote end

 

[sebastian]

Does it mean propeller can work and earn money tax free if he stays out‌ of Sweden for at least 6 months ?`I can read and I read it like‍ this but sounds realy easy.

 

[Martin Everson]

That's how it reads to⁠ me also and that is the Swedish tax agency website saying that. The important part⁤ is...

"The income is taxed in the working country under its domestic tax laws and⁣ applicable tax treaties"

 

[sebastian]

If someone live and works in the UAE more than 6 months and trade personal‌ it could work out to be 0% - that's very good if you are a‍ Swedish citizen.

 

[maxmoney]

Why should it be‍ higher than the 11.8%? As long as corporate tax is being paid, it should be⁠ fine, or is there something I’m missing?

 

[aniglo22]

Low taxation threshold .
With a Swedish corporate tax rate︁ of 20.6 percent, the main rule implies a tax rate of 11.33 percent (0.55 x︂ 0.206).

 

[maxmoney]

ahhh my bad, thanks

 

[binlorden]

How you found banking for your company and what bank name?

 

[pesto]

try with @Gediminas @MichaelUniq or @Fred

All of them have banking for their company‍ packages, maybe they are able to help or work something out with you.

 

[alley]

May I ask what you‍ ended up deciding on, was it Monaco? Or did it turn out to be too⁠ expensive, as some users here had already suggested?
Or did you go with Malta like⁤ many others who set up a company there and find a decent home at a⁣ relatively low overall cost compared to the tax savings?
Curious to hear what you ended⁢ up going with.