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Yes they are different concepts, but share some similar characteristics. The point is, you can use different legal arrangements to achieve the same objective in the end. Other similar concepts include: German Treuhand is a contractual relationship wherein a person (the Treuhänder ) is...

Well it works well. How otherwise there are cases like where just one employee of the Panamanian law firm, Jacqueline Alexander, was a nominee director or shareholder of more than 17,000 shell companies. Silent partner is just an alternative structure compared to trust jurisdictions where you...

Ill copy here a binding tax assessment issued by the tax authority (google translated) application: The applicant plans to start offering cross-border remote gambling services (which are exempt from VAT according to the VAT Act) to end consumers of another member state via an online platform...

Silent partner could be another company.

Good point. Its worth comparing the domestic laws on the basis of which an individual qualifies as a tax resident, since this is important for even accessing treaties. Bulgaria company + residency would be 10% CIT + 5% WHT (pretty much on par with Cyprus with such income). You could also do...

I think one of the cheapest in the long run could be if you register a PE of a foreign entity, as this way you can avoid audit and publishing accounts to Cyprus authorities. Potentially your compliance would be limited to filing a CIT return once per year. Estonian LP company could be great for...

Nebeus has officially received FCA approval to acquire a company with an Electronic Money Institution (EMI) license and the prestigious Principal Membership with Mastercard. Looks like they keep delivering, and the line of services is impressive.

You must be safe from bail-ins, while for many others, it seems like an increasingly higher risk to be materialized: https://www.srb.europa.eu/en/content/single-resolution-board-publishes-its-new-bail-template-banks I guess that's another idea you might not have considered...

Could be. I don't really understand what you are saying here. There is a regular partnership where partners are visible to the public. With silent partnership, the silent partner could represent the trader with a POA while technically he is himself a main beneficiary while on the surface it...

Yes, but it depends on the jurisdiction of the trading company. Estonia doesn't have WHT for instance. Estonia is a great choice for a trading company (with silent partnership) as it would generally pay tax only on dividend distributions while undistributed profits remain tax free. Non Estonian...

A minimum 2 partners is required. It looks as if it doesn't exist. Basically it looks like there is just a regular company in whatever jurisdiction (trader) doing business as usual. In the background, there is a silent partnership contract, on the basis of which the silent partner undertakes to...

When society doesn't accept anything as an absolute truth then everything is subject to each individuals understanding and choice, so everything can be truth or everything could be a lie to someone.

Bulgaria is beneficial when you want legal residency but not tax residency in Bulgaria. This requires some planning and dual residencies. Some other EU countries also allow this.

Theoretically you can also structure the entity in such way to avoid reporting. EU residency might be unreasonably costly, but if you obtain a long term schengen D visa you can easily open a bank account. For example a digital nomad visa, if you meet the requirements. D visa is possible to...

In Old English and earlier periods, the word "gay" originally derived from the Old French word gai and the Late Latin gaius. Gay is a word with many meanings. A gay person is homosexual, but if we describe something like a scene or a party as gay, that means it's bright, merry, and happy. Gay...

Yes, feel free to DM. I can recommend my colleagues in Georgia.

It would be interesting to know if anyone here has their own predictions about the next bubble / crisis. @wellington looking forward to your insights (with graphs haha) I think Charlie Munger put it well during an interview in the decade of zero interest rates, very low inflation and...

Banking tends to be problematic for non-residents, and it is certainly a weak point in Georgia. If you browse the forum about Georgian banking, you might lose your appetite. @JohnnyDoe might be able to tell you more about the "benefits" of Georgian banking.

Since you are actually adding value with your business model, perhaps this could qualify as "Made in Georgia". Georgia has free trade agreements with both EU and China. All Free Zones provide generous investment incentives such as the possibility of 100% foreign ownership, no corporate taxation...

For those considering, it's worth noting that only two countries still ban divorce: the Vatican and the Philippines. right yes, feel free to DM.