New country as my base

[Puzel12]

Currently, I am living in Thailand, but I am from Poland. I am thinking about‌ moving around again and not having one place to call home. Probably I will stay‍ some time in Thailand, Poland, Spain and the rest of time just travel.

I am⁠ looking for a country where I can base myself (tax wise) that will be beneficial⁤ and as easy as possible.

I am currently making about 6-8k$ profit / month. Will⁣ Dubai be too expensive to set up? I was also considering Cyprus. Any other advices⁢ are welcome. Just a country where I can stay less than 183 days and still︀ be tax resident there + own company with the least requirements possible. I heard Dubai︁ makes sense for those who earn at least ~150k$ yearly, but considering the new law︂ that requires only 90 days to become tax resident, wouldn't it be worth it? Stay︃ 90 days in Dubai and the rest of the time be where ever I feel︄ like?

I am also resident of the Czech Republic and I can use self-employed tax︅ to my advantage = pay ~17% tax. Very easy setup.

 

[troubled soul]

I will not advice you Dubai with this income....

Look into Mauritius or Caribbean country‌ like Bahamas....
Georgia has nice visa and tax law
Panama and Costa rica are Good‍ retirement friendly......
There are many choices
BTW Why you are leaving Thailand ?/ Which thing⁠ you did not like ? What are the reason for leaving Thailand ? So We⁤ can help you with overcome that problem with new country

 

[Puzel12]

About Thailand, mostly I didn't like visa laws. I⁤ am earning more and more money and I started to be worried if Thailand come⁣ back to me in the future and try to tax me. Technically, even with elite⁢ visa you are not allowed to work in Thailand, and I am not interested in︀ setting up a Thai Company.
I am not feeling as safe as I thought to︁ be tax resident of Thailand.

 

[troubled soul]

better to register company some where tax free and enjoy living⁢ in Thailand

 

[CyprusBusiness]

Cyprus can be a great option in combination with a territorial tax regime such as‌ Thailand but careful planning is required.

Happy to PM you if more details are required‍

 

[Puzel12]

Can you send me PM about estimated costs?

That's why I was considering Dubai, but I think structure cost can still be⁣ too high for my income, right? I can't register BVI because I own a service-based⁢ business, so I also care about the reputation of the jurisdiction where my company is︀ established.

 

[Wellington]

Thailand is a tax haven if structured correctly.

You do︀ offshore via a company, and at the beginning of the new tax year bring your︁ funds into reside, it's a territorial tax country.

 

[JackAlabama]

I disagree with this. He can setup in Dubai and live in cheap Emirate. The⁢ rest, he can live elsewhere.

Mauritius company is a lot more expensive than Dubai, they︀ will ask for 10k$.
Panama is an expensive place for being de facto not a︁ workable solution any longer.

 

[troubled soul]

Noted......Yes It is nice setup...Live in⁤ cheap Emirate......Thanks for suggestion...never thought about it

 

[Wellington]

Note, if involved with crypto --> Thailand⁠ considers crypto world wide as taxable within Thailand.

However if you have an overseas company⁤ with substance (pay salary, office etc).

Then receive your income in the form of stablecoins⁣ following the same principle above, then it should be tax free, medium of funds coming⁢ into Thailand makes it irrelevant.

 

[Marzio]

Because of difficulties in obtaining permanent residencty or a decent‍ banking solution or something else?

 

[backpacker]

Not anymore, at‌ least when considering the OP's idea of traveling the world.
Reason: HNWI requires a significant‍ amount of money to be in Georgia. In addition, the HNWI status is pretty much⁠ worthless for using DTT benefits.
I wrote about it multiple times. Just use the search⁤ function.

So, with regards to Georgia his option would be ordinary taxation which requires 183⁣ days of presence in Georgia within any 12 months rolling period.
That's certainly not what⁢ the OP wants.

This has also been︂ discussed (at length) before: PE.

So, for a law obeying foreign resident of Thailand your︃ suggestion is not an option.

 

[Au999]

Even in Dubai there are cheaper areas and depending on your needs‍ you can live quite comfortably in Dubai for way less than people think. It's not⁠ all Lambos and Bugattis. Studio apartments in places like Deira and Silicon Oasis can be⁤ very affordable, basics like fresh veg, fruit etc in Carrefour or Lulu Hypermarket are very⁣ well priced and if you cook for yourself daily meal costs can be super-low. Even⁢ eating out you can get massive chicken biryani for 15aed, or Chinese palace smart combo︀ for 32aed. If you don't do bling and like the metro Dubai can be very︁ good value 🙂

 

[Puzel12]

is my profit of 7k$ per month too low to establish a company in UAE?‌

 

[JackAlabama]

No.

Basically everything now since⁠ the old immigration route has been closed. Including prices in the city.

 

[TheCryptoAnt]

sssshhhhhh u gonna jinx it

imo the whole point of⁤ Thailand is that enforcement of most things is sloppy at best

 

[void]

for up to about 80k EUR/year CZ might be a great choice - effective tax rate‍ (including mandatory social and health insurance) would be about 10-12% using self-employed status

 

[JohnLocke]

Just on a note. When you plan your business for‍ the future you may also have in your budget some sort of growth of your⁠ business. What I mean is, maybe you only make 7K$/month right now, but how about⁤ the future, how much will you make in 6 months, 1 year, 2 years.

Setting up a company anywhere, be it Dubai, Cyprus, Thailand or anywhere else, should not be⁣ short term planning but long term planning.

 

[Konstanz]

I think Dubai is good option for you. What is good with Dubai it has‌ many flights to Europe and not so long flights.
Also it's very expat friendly

You can also look at Malta or Cyprus

 

[lavel]

Maybe @Fred can do a offshorecorptalk member offer for you for Dubai hi%#