Question Austrian tax & migration authorities cooperation

[Hllrzr]

Dear all,

i am considering an option to relocate to Austria, and my residence permit would restrict me from doing any gainful activity for the first 5 years. Only passive income is allowed (rent, dividends, bonds). Please don't question that choice of country - it's made for well-being of my family.

Currently i do some job for a non-EU partner, and they can pay on any account with EU IBAN - either personal or corporate (if i establish a company).

So, i am planning to quit my job, start academic study for 5 years until i am allowed to work legally. That's doable, as i have enough capital for that

But i am also curios about hypothetical options, which i will never consider by myself of course, as stakes are very high.

1. Risk of loosing residence permit: i am absolutely fine to pay taxes on my income. But if migration authority will see my tax filings - they will deport my whole family. Very stupid and unfair from them, but that's the law. Just curious, what is the probability of that?
2. Teach few lads in HK to do my job and establish a company there. Accumulate profits there and never pay dividends to EU accounts. It looks formally legal, but if tax authority will trigger on that (probable or not?) - i wonder if i will spend all my money on lawyers to protect my truth ;-)

Would appreciate your ideas on that subject, i am also open to talk personally. Thanks in advance!

 

[mraleph]

Hllrzr said:
Dear all,

i am considering an option to relocate to Austria, and my residence permit would restrict me from doing any gainful activity for the first 5 years. Only passive income is allowed (rent, dividends, bonds). Please don't question that choice of country - it's made for well-being of my family.

Currently i do some job for a non-EU partner, and they can pay on any account with EU IBAN - either personal or corporate (if i establish a company).

So, i am planning to quit my job, start academic study for 5 years until i am allowed to work legally. That's doable, as i have enough capital for that

But i am also curios about hypothetical options, which i will never consider by myself of course, as stakes are very high.

1. Risk of loosing residence permit: i am absolutely fine to pay taxes on my income. But if migration authority will see my tax filings - they will deport my whole family. Very stupid and unfair from them, but that's the law. Just curious, what is the probability of that?
2. Teach few lads in HK to do my job and establish a company there. Accumulate profits there and never pay dividends to EU accounts. It looks formally legal, but if tax authority will trigger on that (probable or not?) - i wonder if i will spend all my money on lawyers to protect my truth ;-)

Would appreciate your ideas on that subject, i am also open to talk personally. Thanks in advance!
Click to expand...

Curious; you'll be allowed passive income - dividends for that matter but not gainful activity. You may be a member or shareholder anywhere - including Austria - and receive dividends. By paralel and elimination logic, that should mean that your 2nd option is viable.

 

[Don]

Hllrzr said:
Dear all,

i am considering an option to relocate to Austria, and my residence permit would restrict me from doing any gainful activity for the first 5 years. Only passive income is allowed (rent, dividends, bonds). Please don't question that choice of country - it's made for well-being of my family.

Currently i do some job for a non-EU partner, and they can pay on any account with EU IBAN - either personal or corporate (if i establish a company).

So, i am planning to quit my job, start academic study for 5 years until i am allowed to work legally. That's doable, as i have enough capital for that

But i am also curios about hypothetical options, which i will never consider by myself of course, as stakes are very high.

1. Risk of loosing residence permit: i am absolutely fine to pay taxes on my income. But if migration authority will see my tax filings - they will deport my whole family. Very stupid and unfair from them, but that's the law. Just curious, what is the probability of that?
2. Teach few lads in HK to do my job and establish a company there. Accumulate profits there and never pay dividends to EU accounts. It looks formally legal, but if tax authority will trigger on that (probable or not?) - i wonder if i will spend all my money on lawyers to protect my truth ;-)

Would appreciate your ideas on that subject, i am also open to talk personally. Thanks in advance!
Click to expand...

You can not do any work while in Austria, but I don't think anything stops you from forming an entity in Hungary, and living next to the border going to Hungary for board meetings if need be.

 

[dirtyharry]

Hllrzr said:
i am considering an option to relocate to Austria, and my residence permit would restrict me from doing any gainful activity for the first 5 years.
Click to expand...

Please elaborate, no one understand this, why can't you do gainful work for 5 years?

 

[Hllrzr]

dirtyharry said:
Please elaborate, no one understand this, why can't you do gainful work for 5 years?
Click to expand...

We are doing quota immigration as financially independent. This type of immigration restricts any working activity, until you get a permanent residence after 5 years.

Don said:
You can not do any work while in Austria, but I don't think anything stops you from forming an entity in Hungary, and living next to the border going to Hungary for board meetings if need be.
Click to expand...

Thank you, this may be one of options to consider!