Best Global Locations for Minimizing Personal and Business Taxes with a 190K EURO Budget

[fighthorse]

I'd like to ask the OCT users the following:

If you could choose anywhere in the world, with no limitations, and your goal is to pay as little personal and business tax as possible, where would you move to become a taxpayer and set up a company?

The place should have relatively good infrastructure, good shopping options, reasonable access to Europe, and be relatively easy to reach.

I have a budget of 190K EURO.

 

[TheCryptoAnt]

habibi come to Dubai

 

[yngmind]

What does the budget mean?

Dubai

 

[fighthorse]

I don't want to Dubai.

My capital I have to‌ get started the new place.

 

[uplana]

What about Bulgaria? You have relatively low taxes, and it’s incredibly cheap to live there.‌ With the money you have, you could buy a property and ensure security, and you‍ can probably reduce your taxes even more than the 10% personal tax rate.

 

[yngmind]

Georgia, Cyprus, Romania, Bulgaria,

Far from EU, not very developed‍ Panama, some Caribean islands

 

[Alex Braun]

what citizenship do you have?
and only then we could discuss⁢ your options

 

[brianK]

Agree, you don't want to put anything inside EU, the risk is simply to‍ high.

 

[cyprusbanker]

Is that 190K the budget to establish you somewhere else, other⁢ country ?

 

[fighthorse]

yes correct it is money I have in USDT right now for‍ easy cash out into real money to settle.

 

[daniels27]

Have you checked the usual suspects from east to west:
Philippines, Thailand, UAE, Armenia, Georgia,‌ Bulgaria, South Africa, Uruguay, Paraguay, Dominican Republic, Panama?

 

[Offct]

If it has to be close to Europe, I would recommend having a look at‌ Georgia:

+ 1% tax on revenue up to 500,000 GEL p.a. (around 160,000€)
+ crypto-friendly‍
+ quite affordable
+ good food and wine (personal opinion)
+ not too bureaucratic (easy⁠ visa/residence process)
+ 4 seasons & great nature

However, Georgia is not for everybody, the⁤ geopolitical situation, especially the constant tension between Russia and Georiga can be seen as an⁣ issue.

 

[Primat2024]

you want‍ to live in a war zone ?

 

[JosephLL]

He was talking about Georgia not London or Birmingham.

 

[Primat2024]

there is no war in London or Birmingham according to Google?

 

[uplana]

I think‍ those are some really good suggestions you're making. However, one should probably sit back, close⁠ their eyes, and try to imagine living in one of those places and what it⁤ would actually look like.

If you draw a complete blank, it might be a good⁣ idea to take a flight to the various destinations, having done some research on each⁢ place beforehand, and perhaps arranged meetings with real estate agents who could show some of︀ the attractive residential areas in the region you plan to visit.

Avoid the tourist spots,︁ as that's not where you would want to live.

 

[Compliance Circle]

Can vouch⁤ for those points.

Not as artificial as Dubai is 🙂
Quite outdated information IMHO.

Nowadays, Georgia is more︀ aligned to Russia than it ever was on post-Soviet landscape. Saakashvili is long gone, Zurabishvili︁ (President) is in opposition, EU countries threaten to severe ties with Georgia over "anti-democratic" laws︂ and acts, EU and NATO accession talks being put on pause...

So, unless another "orange︃ revolution" happens, the risks are in reverse (i.e. banking correspondent relationships cut/severed, sanctions imposed, coup︄ de etat attempted, you know the usual playbook...)

 

[Barney2201]

Why is‍ South Africa on your list? I thought it was a high tax country….

 

[Propeller]

With a tax rate starting at 18%, I would also say that South Africa is‌ on the high side, ending at 45% depending on how much you earn. That’s half‍ of your income you have to give up to a corrupt country.

Georgia is too⁠ close to Russia, and so is Moldova,if Russia continues its relentless campaign against neighboring countries,⁤ I wouldn't want to live there next year.

Unfortunately, I believe that Dubai, Mauritius, Ireland,⁣ and maybe Switzerland could be some of the best countries to live in if having⁢ the lowest taxes is a priority, while still wanting a good quality of life.

 

[daniels27]

I have not met many there that actually pay anything‍ for their foreign business that they run from there.