I find it a coercive and nonsensical language that doesn't exist anywhere in the world. I want to do my job and earn money and not sit in school all the time, losing money because I can't work.
Setting Up an Offshore Company While Being a French Tax Resident
- Thread starter ImABotnet
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https://setupandorra.com/en/news/what-are-the-taxation-and-the-corporate-tax-rate-in-andorra/
"International corporation: taxation of 2% maximum;"
I just checked and nothing is required for the first year. For the renewal, I find it normal it's the minimum when settling in a country that isn't ours to know the basics of the language, especially since I will be spending more than six months per year there. So, it's beneficial for everyone.
That's your source? You read two words on a random website and automatically assumed your business would qualify?
You can imagine that I contacted them by email. Here is what they confirmed to me. They are a legitimate Andorran firm, and they also have a YouTube channel where they post daily videos. In any case, whether it's 2% or 10%, both options work for me, so the outcome will remain the same.
I am copying here what they confirmed to me by email:
"The 2% tax rate for the development of intellectual property and the conduct of international activities without a direct impact on the economy of the state is granted. This scheme is called the International Trade Companies (MAIN) regime.
Conditions:
The activity must be international: It should be remembered that the client base cannot be Andorran (i.e., your online stores must sell globally).- No physical activities with clients based in Andorra.
- An additional requirement is to obtain a special authorization from the Andorran government.
- The application must include the presence of offices and a real economic substance in the Andorran state (at least one employee or a physical office).
- To maintain accounting records in conformity with the tax transparency regulations."
I guess it's a sort of IP Box where you are granted a relief on the statutory CIT rate if you have some kind of R&D expenses to develop your IP.
Be aware that there's no Stripe in Andorra.
Your only option would be to use Braintree (a PayPal company) the fee is 1.9% +0.30€ which isn't bad at all.
IIRC, Andorran companies are sometimes able to get processing with Spanish processors like https://paynopain.com/en/ or https://monei.com/ or https://redsys.es/en/.
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This is the probably the answer to your question.
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This is the probably the answer to your question.
Hello everyone,
First of all, I want to sincerely thank you all for your help and for opening my eyes throughout this process. I have now successfully registered my company in Malta, which was finalized today!
I would really appreciate your advice on one final and crucial point: Which bank would you recommend for my business?
I run three e-commerce stores generating around €100K in monthly revenue (total). My business is relatively new, operating since September 2024. My stores are not in a high-risk sector (no gambling, crypto, or finance/ adult).
I've heard mixed opinions on fintech solutions””some say they are great, others mention account freezes and compliance issues. Also, I read that opening an account with HSBC Malta is very difficult, and Bank of Valletta (BoV) is even more complicated.
Considering my situation, which banking solution would you recommend ?
First of all, I want to sincerely thank you all for your help and for opening my eyes throughout this process. I have now successfully registered my company in Malta, which was finalized today!
I would really appreciate your advice on one final and crucial point: Which bank would you recommend for my business?
I run three e-commerce stores generating around €100K in monthly revenue (total). My business is relatively new, operating since September 2024. My stores are not in a high-risk sector (no gambling, crypto, or finance/ adult).
I've heard mixed opinions on fintech solutions””some say they are great, others mention account freezes and compliance issues. Also, I read that opening an account with HSBC Malta is very difficult, and Bank of Valletta (BoV) is even more complicated.
Considering my situation, which banking solution would you recommend ?
Your best option is Revolut Business. If you need a maltese IBAN go for Moneybase. I would suggest to avoid Em@ney.
May I know which CSP firm did you use for creating and maintaining the Maltese company? Do you have a fiscal unit with a foreign or local holding?
I am looking into either moving to PT with IFICI and use a MT Ltd for exempt dividends, or directly move to Malta and live with corporate money and pay that 5% CIT. So I am definitely looking for experiences on that matter.
For now, I have been quoted from 3k to 14k for same services (accountancy + bookkeeping + tax filing + virtual office + audits).
Looking forward to your news
Thanks and best regards
3k for all those services is unrealistic in Malta. The real cost of a two-tiers structure is around €10k-€12k per year
These are the maintenance costs I was quoted:
Holding maintenance (UK) - 1000€
Rest are Maltese trading company:
Audit - 1000€
5% Tax Return - 250€
Yearly Tax Return - 150€
Accounting - 500€/quarter
Compliance - 300€/1-5 years
Registered Address Office - 700€/year
I guess there might be something missing?
Thanks for your reply
Those costs omits company formation costs which in Malta is at leat 1500€, no secretary, no director and random bulls**t that Maltese love to throw at you that will rise the cost.
This is the real cost, as i already told you.
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