Job offering - offshore

[Martin Everson]

@KetchupKebab Out of interest what is your motivation for setting up an offshore company to receive your salary if you live and work in Belgium?

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Bluepearl]

As long as your yearly income is not more than 50k you can invoice from any kind of company with VAT recerse charge (EU) or non EU country.....after 50k you are subject to VAT and you can still use other company but with Belgium VAT number and registered office.

 

[KetchupKebab]

Martin Everson said:
@KetchupKebab Out of interest what is your motivation for setting up an offshore company to receive your salary if you live and work in Belgium?
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Hi,

I had been a contractor in 2014-2015 and also kept a few other clients on the side.
I made the error of not setting up an sprl/bvba (Belgian LTD/LLC) as i started small and did not see the point of paying a notary 1.2k€+VAT just to create the company, also, I got hired as employee later in the year by my main client.
So at the end of the year I got hit with income taxes and social security which in Belgium are quite high (single, no kids, not much deductible besides phone, pc, car and gas)

So I don't want to repeat the error and this time the proposed daily rate is good enough to make me reconsider it.

 

[KetchupKebab]

The issue is mainly that when I will pay myself a salary from the Belgian company (if I incorporate in Belgium), Belgian income tax and social security payments apply.
Wouldn't it be smarter that I keep the maximum amount in the company and once my mission is over, I close the company and send all funds to a new company I will register in a new contry of residence? Will there be an "exit-tax"?

 

[fshore]

KetchupKebab said:
The issue is mainly that when I will pay myself a salary from the Belgian company (if I incorporate in Belgium), Belgian income tax and social security payments apply.
Wouldn't it be smarter that I keep the maximum amount in the company and once my mission is over, I close the company and send all funds to a new company I will register in a new contry of residence? Will there be an "exit-tax"?
Click to expand...

You cannot just send the funds to a new company. Will you invoice for something? Then you have to prove that the product delivered is real etc.

 

[Martin Everson]

I think the OP needs an accountant as Belgium taxes are ridiculous the last time I looked. Also deferring tax by paying oneself a small salary from local earning held in an offshore company is dubious at best.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.