Best Tax free Countries to Incorporate Your Remote-Based Business (Digital Nomad)

[FixieHartmann]

No worries, we are all here to learn.

Like I said, these are︄ not the only options but I think they are the most straightforward ones.

In general︅ I’d say it doesn’t really make sense to move somewhere for tax reasons if you︆ make less than $60k because the savings are negligible and the costs for setting up︇ proper structures quickly add up, but given that I don’t know your personal situation YMMV.︈

 

[JohnLocke]

I totally agree, with that income you need⁤ to make the math. For some it may be a possibility because they plan for⁣ the future, but if you do not do more than e.g. these 60K per year,⁢ not even in the future, then it will be far too expensive with such a︀ setup and you will pay more in costs than you will pay in taxes where︁ you live now.

 

[mrthit]

If I understand well the Cyprus tax residence rules, he would︎ still need to rent an apartment for the full year despite he living 2 months️ or more.
This would sum up to his taxes.
Or am I getting something wrong?‌

 

[FixieHartmann]

My understanding is that if you want to make use of the 60 day⁤ rule you’d indeed need to rent an apartment for the entire year.

However if you⁣ spend more than 183 days in Cyprus I don’t think you need an apartment for⁢ the entire year as you would be tax resident either way.

I am not a︀ tax advisor - this should be confirmed with an expert.

 

[koohl]

totally correct