Hello,
I'm a software developer with a registered local micro company and I have one client from Asia, the country where I currently live (Europe) changed Taxes for people who have one non-residential client, they request 46-50% taxes from income, and also I have 50k yearly limit.
My monthly income is 5k USD (later I planing to increase income amount), if I have more then one client then my taxes would remain 10% which is fine for me.
If I want to change company structure to legally avid 46% taxes and to pay out dividends to me then I need to pay 15% + some additional taxes in total around 30%.
For me that's an insane amount to pay, I have a couple of options but not sure which one is cheapest/best.
Option 1: to open the offshore company to act as a proxy company and to separate main income on 50% from the main client and 50% from an offshore company, here I would need to use nominee director in case that tax office in my country checks how is the owner.
Option 2: an offshore company where taxes on profit and dividends are low, so to pay 1-4% max and 15% in my country for dividends.
So I don't do anything illegal, I just want to reduce taxes as much as possible.
Of course, if someone has another idea I'm free to consider those options.
Thanks
I'm a software developer with a registered local micro company and I have one client from Asia, the country where I currently live (Europe) changed Taxes for people who have one non-residential client, they request 46-50% taxes from income, and also I have 50k yearly limit.
My monthly income is 5k USD (later I planing to increase income amount), if I have more then one client then my taxes would remain 10% which is fine for me.
If I want to change company structure to legally avid 46% taxes and to pay out dividends to me then I need to pay 15% + some additional taxes in total around 30%.
For me that's an insane amount to pay, I have a couple of options but not sure which one is cheapest/best.
Option 1: to open the offshore company to act as a proxy company and to separate main income on 50% from the main client and 50% from an offshore company, here I would need to use nominee director in case that tax office in my country checks how is the owner.
Option 2: an offshore company where taxes on profit and dividends are low, so to pay 1-4% max and 15% in my country for dividends.
So I don't do anything illegal, I just want to reduce taxes as much as possible.
Of course, if someone has another idea I'm free to consider those options.
Thanks