Where to incorporate ?

[Hephaestus]

Hello ,


I am software developer/consultant from Slovakia, currently in process of personal bankruptcy and ltd bankruptcy, there are 2 possible outcomes :
1) the personal bankruptcy goes well and will be not challenged by creditor about my honest resentment in the next 6 years after validation of the court decision (still looking out for 2-4 years to be completed)
- I will loose my assets
- I will be disallowed to do any kind business (incorporate, trade license, rent, write a code ) in SK (technically also in EU) for he next 6 years after the validation of the court decision
2) personal bankruptcy will be not allowed by court (honest resentment is one of the requirement ), and will have to deal with execution of any income, and the inability to do any business

current situation :
- my income is now only from SW invoices to a SK company using my SK trade license identification using a German EMI for income, not really telling about this income to the taxman
(is in mid 5figures/year ) as amazon/AdSense closed all my accounts 🙁
- I am homeless (my permanent address is at the city hall)
- I have some stocks with an UK broker and crypto Revolut /Crypto.com/Binance
- I have some small shared ownership land ( not transferable easily, all owners agreement is needed)
- don't really have any expenses for the current SW business except of some tech stuff <3k per year),
but if restart my affiliate/ads business there will be some mainly Ads (FB, Google, Instagram) and subcontractors

what I can/will
- get easily a Hungarian citizenship through simplified naturalization, but I will loose my SK citizenship by law, if I tell the gov
(not a breaker)
- incorporate some low cost structure/companies (max 2k/yr)

what I want :
- be semi-legal gray, avoid darks is possible
- not leave SK permanently
- incorporate in EU (my software business client accepts only invoices from the EU}
- to do business with SK/EU companies
- to be able to do Amazon/affiliate/ DisplayAds business
- receive dividends from my stocks
- use crypto


Is this possible? Where? How?

 

[Martin Everson]

Your the richest homeless guy I have seen 😀.

Well you still should be able to use services like Xolo Go to continue consulting activities in EU and send invoices I hope.

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

 

[Hephaestus]

I learned being homeless and asset-less the hard-way. From a pretty good income for SK to Zero nil and executors blocking all my assets in the country, and also doing control tax-raids on my business partners and me. Shame me, as I didn't make at least hundreds of thousands and millions in profit before like the big guys, I am just a poor homeless peasant with bad luck.

After checking rent a company terms I am not convinced with this type of business, it seems to be a bit high for tax purposes as Partnership qualifies as "Other personal income" income with effective tax rate of 23% for 100k income, for example instead XOLO GO I can choose higher subscription and pay myself dividends at 7% rate or/and a salary to EMI. But for emergency it is usable.

 

[dor]

what did you do ?