What's the most stress-free cheap company setup to pay yourself a salary to be eligible for Digital Nomad visas?

[DSoz]

Most of my income comes from crypto trading and investments but I don't have a company.

Most digital nomad visas ask for a steady salary of USD 2000 or more/business income for 6 months with bank statements.

What's a good company formation setup in this case? I won't mind taking my trading under my own company to pay myself a salary. However, getting a bank account that way is quite hard from what I've seen.

Don't want to deal with heavy paperwork or taxes for this simple setup. Ideally would just have to pay some setup and renewal fees such that this company sustains itself for years.

 

[Wellington]

Move to a territorial tax country
Trade offshore and ensure the country doesn’t tax you‌ based on the activities overseas

Mature said funds
Remit said funds to domestic exchange in‍ stablecoin format as they are now savings

 

[DSoz]

I need to⁠ show a stable salary for 6 months in my bank account coming from some company⁤ that doesn't sound shady to be eligible.

 

[CyprusLawyer101]

In which jurisdiction are you seeking to obtain a visa?

 

[DSoz]

I have started looking into the Malta DN visa recently

 

[CyprusLawyer101]

Maybe stick to a Maltese co?

 

[DSoz]

Need to have out‌ of country income or company - can't have financial dealings in the country for digital‍ nomad visa

 

[TheCryptoAnt]

https://paint.js.org/

 

[Forester]

=> Mission impossible, I am afraid. It's 2024.⁠ (This is not eligible for a simple setup, that's it.)

 

[Jerry1911]

Can't you go with Estonia? You should be able to take out approximately 10k euros‌ per month tax free as a salary. You could then reinvest the rest within the‍ company.

 

[JustAnotherNomad]

You'll really want to check the visa rules. I believe many countries don't allow you‌ to be a shareholder in the company.

 

[Tomy223]

Bhamas baby

 

[DSoz]

Can that company be used to trade crypto? I⁠ think Estonia has taxes on salary and dividends.

From the nomad visa site:

After FTX I doubt they'll want to touch anything related to crypto..

 

[Jerry1911]

Yes, and there are no taxes‍ or contributions if you are not a resident of Estonia

 

[Forester]

However, without a crypto trading licence such a company‍ will face heavy problems with banking, even if trading only own funds – but with⁠ no other business activity. And to dig a licence is anything but simple. AFAIK, some⁤ are trying to solve this e.g. by Polish VASP registration but I do not know⁣ how successfully.

 

[bibing]

Use fakes

 

[DSoz]

So basically with an Estonia company and a residency‍ in UAE, I can trade crypto via the company and pay myself $10K salary and⁠ no pay any income tax in UAE and if I keep doing this for more⁤ than 6 months, become eligible for all the digital nomad visas around the world? Am⁣ I missing something?

 

[JustAnotherNomad]

Obviously "eligible for all the digital nomad visas around the world" is impossible⁤ to answer as every country has its own rules for its digital nomad visas, and⁣ some will not allow you to be a shareholder of the company that employs you.⁢

 

[Jerry1911]

Out of curiosity, do you have some examples you could‍ share?

 

[JustAnotherNomad]

I haven't looked much into this unfortunately, but I faintly recall that some countries explicitly‌ don't allow self-employment for digital nomad visas. But others may allow this. It's just important‍ to check the terms. Typically the company also needs to have been in business for⁠ a certain time.