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From his questions referencing Cyprus, it sounded like he was considering moving his personal tax residence to Cyprus, but asking what alternatives there are.

I am, yes. Please could you PM me. Thanks! :)

Interesting. I'm curious to learn more. Questions in my mind: Is the Cypriot company charged tax by Cyprus? Are the shareholders' dividends subject to any withholdings? How does financial reporting work?

Hi @Millers I have been meaning to update this thread. It has been 3 months since the company had to declare its "trading address" to Wise. The decision was to declare the address of the director's private residence in another country, ie. to be as truthful as possible. The process was...

I'm curious what risks you have in mind?

I am looking for ideas on how best to open business bank accounts in Romania, remotely. It looks to be straight forward to establish a Romanian company remotely, but I'm under the impression that in order to pay local taxes the business will need a local bank account. Any help appreciated...

@gnud I think what orangekangaroo is trying to say is, a micro-enterprise that has 1000 EUR of income is subject to 1 % income tax, 10 EUR. But the company might have 500 EUR in expenses, meaning there's only 490 EUR left to distribute as a dividend. The 490 EUR dividend would be subject to 5 %...

Regarding Romanian micro-enterprises, are there any requirements to file annual financial reports, eg. IFRS? Do the Romanian accounting firms just include that service into their monthly accounting fees?

They allow the holding of GEL, and the payment of GEL to Georgian accounts.

EUR and GEL.

I think a big concern in this case is that the trading address and business address would be in different countries, which I believe will be very problematic. Even if Wise do accept it, the next concern becomes the risk of triggering "permanent establishment" clauses in tax treaties just because...

Thanks, Carlo. This was my worry. I think many online businesses don't have much in the way of trading expenses that are also tied to physical trading locations. Everything is online and scattered around the world. It's as if banking is becoming impossible despite commerce becoming more and more...

Looks like Wise have added a new address information requirement for business accounts, or at least this has been my experience after trading successfully for almost 2 years. We are now being asked to provide the business's trading address. Has anyone gone through this before, and how did it...