traffic is crazy because every villager there owns 2-3 different cars, especially a mercedes︅ , to show off how rich he is...
Bulgaria or Cyprus for company and residency?
- Thread starter georgio
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Indeed, currently tax resident in Greece, receiving dividends from UK company. There is a double tax treaty between Greece and UK, as there is with Cyprus, saying that you don't have to pay any difference on tax on dividends, or corporation tax. However, it's in the interpretation of the tax office, to say that your company is︀ run from Greece (my argument is that I have no client there or even contractors,︁ I also don't spend much time in Greece, I'm mostly in western EU countries or︂ in Asia, in fact, last 2 years I didn't spend more than 6 months in︃ any country).
Indeed, Bulgaria is way behind in developments,︇ but that is not necessarily bad. You can find nice decorated properties for affordable prices,︈ nice affordable spas, restaurants etc. Also there is well-trained stuff if needed for IT.
True, you need air condition + car in Cyprus. I neither didn't like much the lifestyle, preferring Spain or Greek islands, more things to do there.
Indeed, Bulgaria is way behind in developments,︇ but that is not necessarily bad. You can find nice decorated properties for affordable prices,︈ nice affordable spas, restaurants etc. Also there is well-trained stuff if needed for IT.
True, you need air condition + car in Cyprus. I neither didn't like much the lifestyle, preferring Spain or Greek islands, more things to do there.
That is very true especially the trained IT staff.
It is just a shame I had to abort my plans I had for Bulgaria due to environment.
It is just a shame I had to abort my plans I had for Bulgaria due to environment.
you meed to fix your︃ residency and tax residency to be 100% foolproof against the tax office. Bulgaria would be︄ a cheaper , easier, more discrete solution. I will disagree on one point though, real︅ estate especially in Sofia is in a very bad state and extremelly invflated prices. You︆ can find something just for the papers, but not something a normal westerner can live.︇ All other places are almost deserted, everybody left for Sofia or abroad.
In your oppinion Bulgaria is the better place if you have to find a country to avoid huge taxes and have less complications with the tax office?
This is only compared towards Cyprus or other offshore destinations too i.e. Andorra, Gran Canaria, Switzerland etc. ?
This is only compared towards Cyprus or other offshore destinations too i.e. Andorra, Gran Canaria, Switzerland etc. ?
hello from the...shithole 😛 as some members write. Cyprus accountants and lawyers are full of s**t, bulgarian accountants ate full of s**t too. Difference is that in Cyprus they ask for 3-4 times more than in Bulgaria and even if you confront them will real clues for what is going on and what the tax law really writes, they will stick to their story, because this is what they are really selling, bulls**t...An other thing, If you go to an accountant s office and has this table for board meetings as all in Cyprus do ( and a few in bulgaria) RUN away !!! For all︀ your needs residency, tax residency, house etc in Cyprus they are going to ask for︁ an arm and leg because their bellies are full and one client less they wouldn︂ t care. Language is a barrier in Bulgaria, so it s more convenient for people︃ of russian speaking countries and there are a lot of them here. It is not︄ Monaco nor Andorra , but trust me you are not chained here, when you finish︅ your business you are free to go. Last but not least bulgarians love to hang︆ out , there are a lot of nice cafes, clubs and restaurants .
Sorry but I disagree with this statement. I agree with the the first sentence they are full of s**t 😀 But it all comes down to who you consult and speak with in Cyprus so in Bulgaria.
actually I am reading this and hold my bulgarian residency which took me 2 days ( from total zero) Gentlemen we look at something from a different perspective: if you are used to hang around with princess Stefanie of Monaco and have millions to spend do not come in bulgaria. If you like Germany and how everything should be exactly by the book do not come either. On the other hand, if you worked hard for your money in life and you hate throwing around for no usefull purpose, then visit . You will not visit for the︀ beauty of the place, which honestly is not that bad, but to save money. Keep︁ the money you saved and visit Monaco, Bahamas and Andorra as a tourist If you︂ like hanging around with simple people and understand that everybody in life needs some motivation︃ your plans will be succesfull quite easily. I will stop here , saludos revolucionarios !︄
After traveling extensively for years, I've come to conclusion that all countries are shitholes. ALL OF THEM - except for Spain which isn't a shithole, but agujero de mierda.
The general level of most things in Bulgaria is relatively low. The good news is, prices are even lower. For example, some years ago I paid 450€/month rent +about 50€ for utilities for a 80-90 m2 apartment in Sofia. A quiet but central location, two balconies, a floor with Italian tiles, a great kitchen and good furniture. I haven't been able to find as good price/quality︀ ratio ever since. In Cyprus you would be paying over 1000 €/month for a similar︁ apartment. Perhaps equally good price/quality could be found in some places in Thailand, but that︂ country is infested with tropical insects, lizards and transvestites.
Sofia is good for relatively low︃ income earners, giving a lot of bang for the buck. The Black Sea coast I︄ would not consider for year around living. I suggest people earning >100K (€/$) should consider︅ some other country. Spanish/Italian/French speakers, if they absolutely want to live in the Balkans, could︆ try out Bucharest. It is like Sofia, but prettier. Slavic language speakers have a head︇ start in Bulgaria.
It is too bad that European low tax residence options are so︈ limited. I don't think I could last long in a place like Andorra. It is︉ a shithole with mountain views. Georgia HNWI is an option, but it is a shithole,︊ too. A place like Estonia is an e-Shithole, and not even low tax. Gibraltar? An︋ expensive shithole-on-a-rock.
The general level of most things in Bulgaria is relatively low. The good news is, prices are even lower. For example, some years ago I paid 450€/month rent +about 50€ for utilities for a 80-90 m2 apartment in Sofia. A quiet but central location, two balconies, a floor with Italian tiles, a great kitchen and good furniture. I haven't been able to find as good price/quality︀ ratio ever since. In Cyprus you would be paying over 1000 €/month for a similar︁ apartment. Perhaps equally good price/quality could be found in some places in Thailand, but that︂ country is infested with tropical insects, lizards and transvestites.
Sofia is good for relatively low︃ income earners, giving a lot of bang for the buck. The Black Sea coast I︄ would not consider for year around living. I suggest people earning >100K (€/$) should consider︅ some other country. Spanish/Italian/French speakers, if they absolutely want to live in the Balkans, could︆ try out Bucharest. It is like Sofia, but prettier. Slavic language speakers have a head︇ start in Bulgaria.
It is too bad that European low tax residence options are so︈ limited. I don't think I could last long in a place like Andorra. It is︉ a shithole with mountain views. Georgia HNWI is an option, but it is a shithole,︊ too. A place like Estonia is an e-Shithole, and not even low tax. Gibraltar? An︋ expensive shithole-on-a-rock.
Thats why︋ i was think to setup a company first then migrate when i can get around︌ 8 to 10k a month, but the issue a lot of limitations and its require︍ to have a Bulgarian to process the bank accounts etc.. So i decide to have︎ Estonian company then when its time to Migrate will open a branch their and migrate️ and become as self employed cheap country, nice weather, and good ranked passport .
For Cyprus i heard a lot and i know people living there for cheaper than here in Dubai but again i feel its small and i need to have more natural views, i am fedup with sand for last 27y omg hhhh so good i have people suggest Bulgaria
But just to be honest i have a Bulgarian friend and she tell me straight forward the lawyers and accountant will eat you and rip your money if you don't know anything about the country and don't know the language so id you have someone you can trust that can help you will be much easier
Last time i calculate it with my friend its about 3k for first month to startup︀ the things and make it lunch and next month will be just for living cost︁ which is cheap, btw this price including the migration process and getting the card etc...︂ From what i saw cheapest company setup in Bulgaria while you are outside is around︃ 1.5k or 1.7k which then you need to add Bulgarian to make bank account and︄ again rise to 2.5k =/ so again its much higher than other price, and if︅ u was there lawyers can even double or triple that.
For Cyprus i heard a lot and i know people living there for cheaper than here in Dubai but again i feel its small and i need to have more natural views, i am fedup with sand for last 27y omg hhhh so good i have people suggest Bulgaria
But just to be honest i have a Bulgarian friend and she tell me straight forward the lawyers and accountant will eat you and rip your money if you don't know anything about the country and don't know the language so id you have someone you can trust that can help you will be much easier
Last time i calculate it with my friend its about 3k for first month to startup︀ the things and make it lunch and next month will be just for living cost︁ which is cheap, btw this price including the migration process and getting the card etc...︂ From what i saw cheapest company setup in Bulgaria while you are outside is around︃ 1.5k or 1.7k which then you need to add Bulgarian to make bank account and︄ again rise to 2.5k =/ so again its much higher than other price, and if︅ u was there lawyers can even double or triple that.
Consider Romania doing a setup under the micro enterprise regime. Romanian language has quite some resemblance with latin languages too.
I do realize my cynicism is off the charts. ns2
I am touring the Canaries, right now in Santa Cruz de La Palma. This is a very pleasant city with many beautiful buildings, cozy squares, cafes etc. Great lifestyle, unbeatable climate year-around. This and other cities in the Canaries are anything but shitholes ...until you start paying Spanish taxes, including the wealth tax. That, and some minor inconveniences*), and it all turns into cagada.
So, I am in a s-hole of my own making: I like some places, but would not want to pay︀ their taxes. There are some low tax countries (BG, RO, CY, GE...), where I would︁ not like to live in. Then there are some out-of-reach options, such as Switzerland, Monaco︂ etc. Thus far I've been too stingy to pay for an offshore solution that might︃ become unnecessary in few years. The fees would anyway eat much of the savings.
Whenever I have a dark night of the soul, I consider capitulating: Minimizing capital gains, just︄ holding gold and bitcoin and living off savings in a place like Spain or Portugal.︅ Even then they would hit me with an exit tax. I am done with Asia,︆ so that is not an option.
*) minor inconveniences = a few days ago in︇ Las Palmas, I bought local prosciutto-styled sausage, that had a mild aftertaste of s**t. Apparently︈ their production process has some room for improvement. Would not happen in France or Germany.︉ There are always snakes in a paradise.
I am touring the Canaries, right now in Santa Cruz de La Palma. This is a very pleasant city with many beautiful buildings, cozy squares, cafes etc. Great lifestyle, unbeatable climate year-around. This and other cities in the Canaries are anything but shitholes ...until you start paying Spanish taxes, including the wealth tax. That, and some minor inconveniences*), and it all turns into cagada.
So, I am in a s-hole of my own making: I like some places, but would not want to pay︀ their taxes. There are some low tax countries (BG, RO, CY, GE...), where I would︁ not like to live in. Then there are some out-of-reach options, such as Switzerland, Monaco︂ etc. Thus far I've been too stingy to pay for an offshore solution that might︃ become unnecessary in few years. The fees would anyway eat much of the savings.
Whenever I have a dark night of the soul, I consider capitulating: Minimizing capital gains, just︄ holding gold and bitcoin and living off savings in a place like Spain or Portugal.︅ Even then they would hit me with an exit tax. I am done with Asia,︆ so that is not an option.
*) minor inconveniences = a few days ago in︇ Las Palmas, I bought local prosciutto-styled sausage, that had a mild aftertaste of s**t. Apparently︈ their production process has some room for improvement. Would not happen in France or Germany.︉ There are always snakes in a paradise.
Much worse than just paying taxes is paying taxes and getting nothing in return. I am in the same situation, but︀ I came to a conclusion that money doesn't matter when you love the country where︁ you live. And it's not just about taxes, it is also about banks, bureaucracy, safety,︂ language, social circle. That's why UAE, Cyprus, Georgia and other popular countries suck in the︃ long term. A huge disadvantage is that you can't simply change the residence, it's a︄ full of s**t process.
Romania is definitely a better option to Bulgaria, taxes are︆ lower but quality of life is higher. However they have an exit tax and they︇ disclose company's income to general public. Combining it with a beneficiary disclosure under 5AML is︈ a total privacy disaster.
Romania is definitely a better option to Bulgaria, taxes are︆ lower but quality of life is higher. However they have an exit tax and they︇ disclose company's income to general public. Combining it with a beneficiary disclosure under 5AML is︈ a total privacy disaster.
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