Company in "country A" while I live in "Country B" - doable?

[FriendlyFace]

Hi, folks...

Let's say I have a company incorporated in "country A" while I live in "country B."

Every post/article etc I have come across, says this:

If I'm the sole owner of the company, I need to live in "country A" 183+ days of the year for the company to have a chance to be considered tax-resident in that country by "country B."

I'm also aware of the Cyprus 60-day rule, but that requires me to live in three countries per year, lol!

Is there any way around this?

I have heard that some companies (that register businesses) also offer an apartment or some form of accommodation for pretty low prices ($35/month in Bulgaria for example). No clue how they do it though. Maybe they have a deal with a hotel, or own a block of flats or something. Or, maybe the nominee director/lawyer accommodates you in his own home 🙄!

Something else that helps is if someone can travel from country A to country B just by showing their ID (no passport).

Any other ideas on this? Preferably as legitimate as possible.

I suspect many members of the board could benefit from such a discussion.

Thanks in advance!

 

[user9823671]

Preferably as legitimate as possible.
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Assuming that means avoiding illegal methods.

How much profit / revenue per year? If talking mid 6 figure, structures exist. But for most one person startups / online businesses, people aren't talking that much.

Also will depend on the resident countries, not all countries have CFC laws, meaning they will not tax foreign companies if run by residents.

 

[FriendlyFace]

user9823671 said:
Assuming that means avoiding illegal methods.

How much profit / revenue per year? If talking mid 6 figure, structures exist. But for most one person startups / online businesses, people aren't talking that much.

Also will depend on the resident countries, not all countries have CFC laws, meaning they will not tax foreign companies if run by residents.
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Thanks for the reply.

The country in question is Greece, so it does require a company owner to live in the same country the company is incorporated, in order to not challenge the tax residency of the company.

Could you perhaps point me in the right direction, at present? Assuming I do reach the mid 6 figures at some point in the future? Just so I can prepare properly;y for this.

Thanks in advance.

 

[fshore]

user9823671 said:
Also will depend on the resident countries, not all countries have CFC laws, meaning they will not tax foreign companies if run by residents.
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Only if run abroad. Most countries without cfc will still consider foreign companies as local resident if they are managed from their country.

 

[user9823671]

FriendlyFace said:
Thanks for the reply.

The country in question is Greece, so it does require a company owner to live in the same country the company is incorporated, in order to not challenge the tax residency of the company.

Could you perhaps point me in the right direction, at present? Assuming I do reach the mid 6 figures at some point in the future? Just so I can prepare properly;y for this.

Thanks in advance.
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I am far from knowledgable in these matters. All I know is what I have read over the last couple of years of looking into it. Starting from the websites saying "open a bz company with nominees and never pay tax again" to a basic understanding about CFC / CRS / DTA.

Once you have the revenue required for such structures, I think you have access to the people who can make it happen, advisors / lawyers. I don't know them myself, but have been told it is possible. Also take the mid-6 figures with a pinch of salt. I have been told numbers from 2 million down to 500k. The more you have the better the structure.

I think a lot depends on what countries you are referring to. What is countryA what is countryB.

I have heard that some companies (that register businesses) also offer an apartment or some form of accommodation for pretty low prices ($35/month in Bulgaria for example). No clue how they do it though. Maybe they have a deal with a hotel, or own a block of flats or something. Or, maybe the nominee director/lawyer accommodates you in his own home 🙄!
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I think you get an address, but not really an actual room. Your business will share the address with a myriad of other dodgy companies 🙂

fshore said:
Only if run abroad. Most countries without cfc will still consider foreign companies as local resident if they are managed from their country.
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Cannot comment on that, I know for a fact some will NOT as long as the foreign country pays "some" tax. In an offshore 0% haven yes you are correct. If tax is paid, then it is fine. No idea how that affects getting the money back to you, as a wage, dividend of whatever though

 

[Spinat]

fshore said:
Only if run abroad. Most countries without cfc will still consider foreign companies as local resident if they are managed from their country.
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I believe it not comply to most of the countries within the EU!

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[fshore]

blueweb said:
I believe it not comply to most of the countries within the EU!
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You can find the answer by reading about corporate residency rules for the country in question.
It might change your belief.