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Best country / setup to minimize tax? (software biz, ~400k, eu)
- Thread starter doomslayer123
- Start date
Not many alternatives in the world right now, and also I believe there's a good offer of luxury real estate for incredibly cheap prices compared to Dubai / Qatar
Great thank you. I used to be in Dubai, and I am considering it, now I am in south east asia for a little.
I think I saw another of your post, where you mention 1500 dollars cost for setting up a company in Bahrain, can I please know where exactly you saw that price? I cannot find many reliable company service providers with clear and competitive prices... also I am not sure if they handle also the following RESIDENCE VISA after opening the company.
Do you know anything about?
You think Bahrain is better than Doha? What about Oman and Kuwait?
I called Sovereign, they quoted 5300 BH. Quite expensive. Also, I think they have mandatory audit.
In my opinion Bahrain is much more open and free then others, even better than Dubai imho (no internet firewall). in Manama there's clubs, beach party's with alchol, and overall a good night life in the Adliya area.
I wouldn't even compare something like Kuwait (total alchol ban)
Guys, why move to a shitty place like Bahrain when there are places like Cyprus or Monaco?
If you are short on money, Cyprus 12.5% + 2.65% Gesy (until 4300 euros) is much better than Bahrain.
And if you have a lot more money, Monaco.
I don't see any reason to move to Bahrain if it's not because you want to do business in Bahrain.
I could understand Dubai when there was 0% corporate tax, after all it is a city that offered you everything. But Bahrain...
If you are short on money, Cyprus 12.5% + 2.65% Gesy (until 4300 euros) is much better than Bahrain.
And if you have a lot more money, Monaco.
I don't see any reason to move to Bahrain if it's not because you want to do business in Bahrain.
I could understand Dubai when there was 0% corporate tax, after all it is a city that offered you everything. But Bahrain...
Because in Bahrain you don't really have to live there either. Also, 0% on everything means less headaches.
This can change soon though: Corporate Tax Law Set to reshape Bahrain's Business and Job Landscape.
Don't need to live a minimun amount of days to maintain residence or get tax residency?
Everyone who can get a Golden Visa in Bahrain, apply to residency in Monaco, so why Bahrain?
What Makes Bahrain The Best Place To Relocate With Family?
- The culture is known to be cosmopolitan and tolerant.
- In 2023, Bahrain topped the list of best expat destinations in the new Expat Essentials Index of 52 nations. (Cyprus is 33rd, Monaco is not mentioned)
- It makes life abroad easy for foreign residents. It offers a high standard of living for a low cost. Society supports Bahrain family life.
- Bahraini people are warm and welcoming.
Bahrain ends up being much cheaper when you take into account the cost of living. Also, you can get the Golden Visa by meeting income requirements ($10k/month), and so no investment needed if approved.
Also, for those who spend most of their time in Asia, Bahrain is closer.
And, if I'm not mistaken, you can set up a business in Bahrain and then hire yourself and get an employee visa, without the need for the Golden Visa, like in Dubai. But maybe someone with more experience with Bahrain can confirm if this is still possible.
Have you been there and sincerely believe it's such an awful place?
The list is prepared by Internations (a German company), so it should represent Western standards.
Some kind of list is not an universal truth ofcourse, and tastes are subjective, but it does show something.
Internations:
- Founded in 2007 by Malte Zeeck, Philipp von Plato, Christian Leifeld
- The largest global expat network
- 5.2 million members
Have you been there and sincerely believe it's such an awful place?
The list is prepared by Internations (a German company), so it should represent Western standards.
Some kind of list is not an universal truth ofcourse, and tastes are subjective, but it does show something.
Internations:
What is interesting is that Bahrein is the supposedly easiest country to open a bank account for ex-pats
- Founded in 2007 by Malte Zeeck, Philipp von Plato, Christian Leifeld
- The largest global expat network
- 5.2 million members
When I lived in Dubai, I had a client from Bahrain, so I used to visit Manama frequently.
Ok, it is not a bad country, there is no crime, the climate in winter is pleasant (in summer it is horrible), beaches are less crowded than Dubai, it has a decent infrastructure (far from Dubai's infrastructure), that's it for the good.
The bad thing is that they are still a country under Sharia law. Where, as in the UAE, expatriates are second-class citizens (the third category are Indians and Pakistanis).
The leisure offering is very limited, and with enough time there you would end up getting bored. Although it is true that you also have Dubai nearby. That's a plus.
I don't think it is one of the best destinations to live according to Western standards (nor is it the worst).
About Internations...
Internations = Germany = german owners = Agenda 2030
If in a list of the best destinations to live, they put Saudi Arabia, Kenya, Qatar, etc. in the top 10... I can wipe my a*s with that list perfectly.
In fact, they place Estonia in 5th position. I have been living in Estonia for almost 3 years and I am looking forward to moving away from here.
Those Germans at Internations must be progressive to place Arab countries under Sharia and an African country as the 10 best to live in.
This is correct.
Do keep in mind that a lot of people making use of those residency programs like Bahrain or UAE have no intention to live there full time.
Residency in those countries is usually better combined with spending the rest of your time in places where it is not illegal to have fun. You can travel the world or live in a cheap territorial tax country/one with a weak tax agency, plus a few other combinations.
I am in a similar situation.
Later today I have a call with a company specialising in Panama banking/residencies. You can set up a company remotely and pay 5% taxes.
Residency not required but can be added for not that much money.
Will report back if anyone is interested.
Later today I have a call with a company specialising in Panama banking/residencies. You can set up a company remotely and pay 5% taxes.
Residency not required but can be added for not that much money.
Will report back if anyone is interested.
Yes Bahrain will most likely introduce corporate tax soon. But it's already not the best place to incorporate.. In my opinion bahrain is good just for personal residence.
Ive been in both Monaco (visits) and Bahrain (over 5 months) and I can say Manama is far more liveable than Monaco.
Monaco is just too small and they have very strict stay requirements as well.
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From what I know, you need to deposit over 500k on a Monaco bank to acquire residence in Monaco and respect many other conditions, as well as pay a very high fee to consultants; I personally do not like Cyprus lifestyle at all, and I met many people in Dubai that tried the Cyprus option and left it. Recently Cyprus rents are even getting much more expensive than in the past , and do not offer same luxury apartments or luxury life as the Middle East with reasonable prices.
Saudi Arabia has actually changed A LOT.
All people that moved there that I met, speak always greatly about it, and seem all very happy with their choice.
I am actually surprised it is not even higher on the charts as one of the best places in the world to live for an expat.
When NEOM is finished I will very much consider to move there myself, and I would choose it over Monaco even if I was a multi millionaire.
Of course, we have to see how Neom will actually be, but till now it seems very promising.
Saudi Arabia has actually changed A LOT.
All people that moved there that I met, speak always greatly about it, and seem all very happy with their choice.
When NEOM is finished I will very much consider to move there myself, and I would choose it over Monaco even if I was a multi millionaire.
Of course, we have to see how Neom will actually be, but till now it seems very promising.
Thank you for sharing your experience with Manama, this really gives an idea of some cons.
Anyone as any experience with this setting up (company + residence visa) in Bahrain on the forum or is there any company service provider trustworthy and with reasonable costs (I read about 1500 EUR cost for it in a forum discussion but i cant find more information about it)?
I see you are 5 months in Bahrain.
What kind of Visa did you use? Do you know any company service provider or anyone that can help with acquiring residence in a similar way as it happens in Dubai?
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Do not make the mistake of opening a US LLC, I made this mistake opening in Delaware. (0% tax)
The entire structure including romanian micro was created as a bulletproof obtaining also EAN number from the irs, Uk Holding Nominee, etc.
The problem appeared that no one managed to open the bank account for my states offshore llc in jurisdictions that are not on the black / gray lists.
I had a safe option to open in Belize or Panama - Europac, but during the period of opening procedures on Europac they entered into liquidation and migration of the clients being investigated by all the surveillance agencies in the states and from Europe. ( thank god I was late ) - this option was presented to me not only from the romanian part but also when I was in Cyprus others proposed them!!!
So I found out too late that no one is risking opening bank accounts for an offshore llc which are in jurisdictions that are subject to regulations in force today, so if you use bank accounts from the jurisdictions that are on the black / gray list when the money will be sent, the transaction will be either blocked / freezed being asked for a lot of supporting documents that you will not be able to put at their disposal, or the transactions will be returned automatically.
Remaining only the very risky option to empower the nominee to open a bank account but then you can wake up one day and that money will be bye bye, or the option to use the Darks that is also very very very risky.
If you want to open something you have to do it without involving US territory or jurisdictions that do not communicate based on the treaties Fatca or CRS.
Currently I use a structure created on EMI but I don't know for how long I will be able to benefit from so I also make plans to leave on Dubai or Portugal especially because I feel that from 2025 romanian authorities will implement the progressive taxation. ( si atunci sa vezi cu cata foame o sa bage mana in buzunare )!!!!
*** legat de presupunerea ta ca sunt niste incapabili ca nu ti-au gasit paypal-ul tin sa te anunt ca gresesti, ai fost doar norocos, eu in acest moment sunt in postura de a astepta calculari penalitati si accesorii dupa ce in vara am primit o scrisoare de la antifrauda in care se mentiona ca trebuie sa dau niste explicatii pentru niste sume cumulate in valoare de cateva sute de mii depistate ca fiind rulate in ultimii ani, desi erau niste neconcordante in ceea ce aveau ei ca si informatii sumele se pupau cu realitatea. Am platit repede catre bugetul de stat cat am considerat eu ca le-as datora fara penalitati ca sa scap de penal si am angajat o mare firma de avocatura de la noi ca sa ceara dosarul administrativ ca sa vedem ce informatii au " dosar administrativ pe care avocatii ieftini si slab pregatiti nu-l vor cere niciodata ".
Eu am ramas socat ca au aflat de acele sume deoarece crede-ma sunt ultra precaut, nu de scrisoarea lor, ci de faptul ca au reusit sa afle.
De ce iubesc eu Romania? Pentru ca, asa cum a spus si Andrew Tate, coruptia imi este si mie accesibila nu ca in statele unite sau in alte tari in care coruptia le este accesibila doar politicienilor, in concluzie dupa ce am impins unde trebuia am aflat cum au reusit.
Informatia ti-o dau gratis: a intrat in vigoare si la noi directiva DAC7, adica tot ceea ce tine de platforme digitale, intr-un cuvant, sume de bani provenite din activitati ce tin de sisteme informatice/online se raporteaza tot, ca sa ai scapare ori apelezi la Darks ori pleci in jurisdictii cu taxare zero pe venit sau companii. Sunt vreo 7 tari in lume.
Succes, treaba o sa se imputa din ce in ce mai tare, varianta cea mai sigura este se ne caram, dar nu in UE, ci in afara uniunii, UE se aseamana din ce in ce mai tare cu un lagar!
Sclavii se vor supune pana in panzele albe, eu unul n-am facut-o si nici nu o voi face vreodata, este de datoria mea sa imi pazesc banii si o sa actionez in consecinta!
La multa muie globalistilor si guvernului romaniei!
In order not to be misunderstood, I agree to pay taxes, but within the limits of normality, not to have the government put its hand in my pocket up to the elbow or to be robbed by inventing new taxes and fees!
It is our duty to protect our money, I don't care what the ordinary slave say, he who obeys to everything, slaves are slaves either because they didn't have vision and courage or due the fact because they were born by other slaves and raised in the spirit of obedience this reason being why they remained slaves.
The state needs slaves, not visonary people, they need credt card slaves, mortage slaves, f**k'em all!!!!
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