You're complaining about a 8% Tax in Hong Kong and a $500 monthly fee for accountants?Germany is about the last place I would go to live. Romania has nature, it is good once you are alone. Switzerland is the same. It is good once you are in nature. The government... yes better than elsewhere but not something to be proud of.
Honestly, from what I heard I highly doubt that it makes sense. Even at 0% tax, you end up paying to much for the accountant with the mandatory audit. There are reasons why the locals in Hong Kong use BVI and the like.
I think what I was trying to say was that many Chinese factories I know are still the Hong Kong agents but with BVI companies. They all shifted when Hong Kong introduces mandatory audits. We used to pay a bit more than 8.5% tax in Switzerland with no cap and no audit just a couple of years ago.You're complaining about a 8% Tax in Hong Kong and a $500 monthly fee for accountants?
Yes, I know. But I had a good friend. she was living in France and paid 300 EUR for the summer kids day care for the whole 3 months. Her brother paid 30k HKD per month for the same service. Taxes in Canada are high, but at least you also get quite a lot for it.I'm from Canada and I pay $2,000 USD a month in book keeping, 25%+ Corporate Tax and almost 47% in Income Tax.
Same as above. He gets a good deal for himself. But not for the kids. And it is a problem for the society too.What the guy is getting in Romania is a big deal and he doesn't even even know it.
Sorry I don't get this, but you mean the agent shifted to an BVI company?
Yes. I mean there are Chinese factories that have been operating Hong Kong companies with Hong Kong agents for years. Once a mandatory audit was introduced, the agents recommended to shift the company to BVI and many did so. The audit is between 1500 and 2500 USD per year, about the same as the BVI company costs.Sorry I don't get this, but you mean the agent shifted to an BVI company?
Why would they not want the audits, like everywhere else you run a company it is mandatory?
BVI you have to do full blown accounting now…Germany is about the last place I would go to live. Romania has nature, it is good once you are alone. Switzerland is the same. It is good once you are in nature. The government... yes better than elsewhere but not something to be proud of.
Honestly, from what I heard I highly doubt that it makes sense. Even at 0% tax, you end up paying to much for the accountant with the mandatory audit. There are reasons why the locals in Hong Kong use BVI and the like.
I wonder if you took out money from your PayPal, straight to your Romanian (RON) bank account. If you did, it's no wonder they found out about it as all RON and Romanian bank accounts are completely visible to ANAF ( RO tax office).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!!!!
I mean, it's kind-of tough to get excited about getting "just a little" robbed (1/8 of everything you make) and getting diddly-squat in return.What the guy is getting in Romania is a big deal and he doesn't even even know it.
We used to pay a bit more than 8.5% tax in Switzerland with no cap and no audit just a couple of years ago.
But how did you take the money out? The big issue with Switzerland is usually the withholding tax on dividends.
Yes, hence my question.1. form a holding in a favourable jurisdiction but AFAIK you need to have some substance otherwise 35% WTH on dividends will still apply.
I believe they are working on closing that loophole.2. form a Swiss branch instead of a full fledge Swiss company so there are no WHT on profits sent to the parent.
I believe they are working on closing that loophole.
It was my own company and I paid reduced personal income taxes on the dividends.But how did you take the money out? The big issue with Switzerland is usually the withholding tax on dividends.
This no longer works and you need to be at the same company for more than 2 years to be eligible via this pathway.In UAE you can also get 10 years golden visa fairly easily within 6 months paying a high salary and then you have no requirements to visit the country at all.
No need to invest or have an apartment.
This no longer works and you need to be at the same company for more than 2 years to be eligible via this pathway.
Source #1 : People who recently applied, go through all the commentsWhat's your source? And you can do it with your own company. Also, it probably doesn't really matter because the first residency is valid for at least 2 years anyway?
Do you have an update on this? Have you done it, does it still work?Just had a call with a company who helps set up Panama entities, was recommend to me by someone I trust so think it's a solid option.
I would offramp crypto, the process is 100% remote and includes:
- Creating a company in Panama, 7 days
- Opening a company bank account, 30 days
- Opening a company account on Bitstamp or Bitfinex, 45 days
You also need a personal bank account but that's simple.
Once set up, you send funds to the CEX, then to your company bank account and then to your personal bank account paying 5% tax.
Afterwards I plan to move it to IBKR.
You do not have to have an employee, accountant or anything for the company.
The service provider I spoke to handles the whole procedure, cost is $6'000.
Also interesting cause you can get residency - more paperwork and visits needed.
Source #1 : People who recently applied, go through all the comments
Source #2: Official AMER account confirming
It probably does matter because you need to COMPLETE 2 years in that company and that company has to have more than 10 employees, etc.
People with a partner/investor on their visa can't do this pathway anyways, as it's for employees or experts in the field. This salary pathway is for employees.There are different rules for different visa types.
The "company has to have more than 10 employees" is a very recent thing, I believe. It's an inofficial policy that definitely applies to golden visas for regular employees.
But I don't know if it also applies if you apply for a golden visa as a partner/investor in a business. I believe that's a different pathway entirely.
if you want to do the fake residency thing then it is best to avoid any country where you need to take a boat or plane to get out because there are passenger lists even inside Schengen so at the end of the day you are easily traceable. You need to make the decision first if you want to stay in the EU/Schengen or go outside the EU. I am more or less in the same position as you and looked at Poland and Bulgaria. I am going to take Bulgaria because of the stable tax environment, Romania is way to unstable when it comes to tax rules and I dont want that headache of moving everu few years because they changed something. Yes you can have lower taxes outside the EU but QoL is also important to me. Just like you I am going to spend most of my time enjoying the Mediterranean lifestyle. Bulgaria is part of Schengen so you can easily roadtrip to the Med and stay under the radar. In the end everything is a compromise and for me a 17% total tax rate in Bulgaria is acceptable.Currently paying 12% though. I work almost every day with rare exceptions, so that's 44 days a year wasted ( a month and a half) . In 10 years, that's over 1 year of my life wasted slaving away for government and parasites.
I've been thinking about it, I think the tax evasion option is not that great, I need to invest the money for any of this to be worth it, and any broker would report me via CRS or other mechanisms.
Cyprus seems the best for me so far. 2.5% IP BOX tax rate + health insurance cost, 60 days minimum requirement of staying in the country. I think once I move my tax residency, in practice no one will care where I actually stay, especially as Cyprus / Romania are close to entering Schengen. In any case, I can handle 60 days at the beach there. And with the ~30k a year I'd save I could take a nice vacation anywhere in the world
Then leavee EU by private jet tonight. Quality of life is better outside EU than inside.QoL is also important to me
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