Company in "country A" while I live in "Country B" - doable?

[FriendlyFace]

Hi, folks...

Let's say I have a company incorporated in "country A" while I live in "country B."

Every post/article etc I have come across, says this:

If I'm the sole owner of the company, I need to live in "country A" 183+ days of the year for the company to have a chance to be considered tax-resident in that country by "country B."

I'm also aware of the Cyprus 60-day rule, but that requires me to live in three countries per year, lol!

Is there any way around this?

I have heard that some companies (that register businesses) also offer an apartment or some form of accommodation for pretty low prices ($35/month in Bulgaria for example). No clue how they do it though. Maybe they have a deal with a hotel, or own a block of flats or something. Or, maybe the nominee director/lawyer accommodates you in his own home 🙄!

Something else that helps is if someone can travel from country A to country B just by showing their ID (no passport).

Any other ideas on this? Preferably as legitimate as possible.

I suspect many members of the board could benefit from such a discussion.

Thanks in advance!

 

[user9823671]

Assuming that means avoiding illegal methods.

How much profit / revenue per year? If talking mid 6 figure, structures exist. But for‌ most one person startups / online businesses, people aren't talking that much.

Also will depend‍ on the resident countries, not all countries have CFC laws, meaning they will not tax⁠ foreign companies if run by residents.

 

[FriendlyFace]

Thanks for the reply.

The country in question is Greece, so it⁣ does require a company owner to live in the same country the company is incorporated,⁢ in order to not challenge the tax residency of the company.

Could you perhaps point︀ me in the right direction, at present? Assuming I do reach the mid 6 figures︁ at some point in the future? Just so I can prepare properly;y for this.

Thanks in advance.

 

[fshore]

Only if run abroad. Most countries without cfc will still consider foreign companies as local resident‍ if they are managed from their country.

 

[user9823671]

I am far from knowledgable in these matters. All I know⁢ is what I have read over the last couple of years of looking into it.︀ Starting from the websites saying "open a bz company with nominees and never pay tax︁ again" to a basic understanding about CFC / CRS / DTA.

Once you have the︂ revenue required for such structures, I think you have access to the people who can︃ make it happen, advisors / lawyers. I don't know them myself, but have been told︄ it is possible. Also take the mid-6 figures with a pinch of salt. I have︅ been told numbers from 2 million down to 500k. The more you have the better︆ the structure.

I think a lot depends on what countries you are referring to. What︇ is countryA what is countryB.

I think you get an︌ address, but not really an actual room. Your business will share the address with a︍ myriad of other dodgy companies 🙂

Cannot comment on that, I know for a fact some will NOT‌ as long as the foreign country pays "some" tax. In an offshore 0% haven yes‍ you are correct. If tax is paid, then it is fine. No idea how that⁠ affects getting the money back to you, as a wage, dividend of whatever though

 

[Spinat]

I believe‍ it not comply to most of the countries within the EU!

 

[fshore]

You can find the answer by reading about corporate residency rules for‍ the country in question.
It might change your belief.