Best EU residency for low income tax?

[HeinzKetchup69]

Is the Portugal NHR still open for new residents of Portugal?
What EU country do you suggest setting your residency if your only option would be to live in Europe full time?

Earning $200K profit a year from an online business.

EU Passport holder. Already out of my EU home country from over 10+ years so no problems leaving original tax residency (done and dusted).

 

[Don]

You should consider your income sources (e.g., type of income and where is it coming from). Where is your business incorporated?

 

[Sols]

Malta and Cyprus have lots of options and advantages.

But there's more to life than (not paying) tax. Some people just don't like living on those small islands.

Bulgaria is on the mainland but go spend time there before moving. If you come from Western Europe, the change in lifestyle may be a bit drastic — not to mention language.

Estonia has advantages but is dark and cold half the year.

Be honest with yourself and figure out what kind of life you want. You're at an income level where you can pick and choose anywhere in the EU and live comfortably. No point being miserable to save on tax. That's not much different from living well but being miserable from paying so much tax.

 

[JohnnyDoe]

your only option would be to live in Europe full time?

Why?

 

[brianK]

But there's more to life than (not paying) tax. Some people just don't like living on those small islands.

wonder why? personally you can count me in, I don't want to live there.

 

[toums]

As @Sols said, for tax benefits easiest are Malta and Cyprus. personally i dont like Cyprus but I lived few years before covid in Malta. I think its good compromise if you can have also a second base (few months a year?) somewhere else, outside EU (latam/ asia for example).

I am also granted with NHR (but left Portugal this year). Officially they dont accept new applicants but as I heard you can find some loophole / arrangments with some lawyers to still activate it (but probably will end end of this calendar year).

Btw, If you run like a LLC or any offshore company and want to take the money as foreign 'dividend' tax free under NHR.. Well I know many people under NHR doing it.. but it's still grey / not clean regarding PT tax authorities as you do your activity from Portugal (P.E.);

 

[Don]

If you earn 200k annually, paying 10% tax is 20k; paying +- 5% means +- 10k.
The additional costs could easily net off any tax benefits.
10k or even 20k alone might not be worth it to live in a country you don't enjoy.

If you just look at personal income tax rates, then Romania and Bulgaria are the best countries, with only 10% personal income tax

 

[toums]

If you earn 200k annually, paying 10% tax is 20k; paying +- 5% means +- 10k.
The additional costs could easily net off any tax benefits.
10k or even 20k alone might not be worth it to live in a country you don't enjoy.

If you just look at personal income tax rates, then Romania and Bulgaria are the best countries, with only 10% personal income tax

In that case if you agree to pay 10%, then just pay 5% more, and live in Budapest (15% flat tax, or 9% CIT).. much beautiful city and better lifestyle (and better HUB too to fly) than RO or BG..

 

[HeinzKetchup69]

Malta and Cyprus have lots of options and advantages.

But there's more to life than (not paying) tax. Some people just don't like living on those small islands.

Bulgaria is on the mainland but go spend time there before moving. If you come from Western Europe, the change in lifestyle may be a bit drastic — not to mention language.

Estonia has advantages but is dark and cold half the year.

Be honest with yourself and figure out what kind of life you want. You're at an income level where you can pick and choose anywhere in the EU and live comfortably. No point being miserable to save on tax. That's not much different from living well but being miserable from paying so much tax.

The life I want is living on the beach in a massive mansion, with people who understand English, high quality services, no immigrants, clean and safe for families.
I can't afford to live in Monaco yet so I'm going to make some sacrifices for now, but at the same time I don't want to move to Belize.

Estonia is good but yeah I don't know if I can last the winter over there.

I come from a mediterrenen European country.

 

[HeinzKetchup69]

Why?

Family issues. I Temporarily need to be in Europe (24/7) for around 2 years. After that I can go back to Dubai.

 

[HeinzKetchup69]

If you earn 200k annually, paying 10% tax is 20k; paying +- 5% means +- 10k.
The additional costs could easily net off any tax benefits.
10k or even 20k alone might not be worth it to live in a country you don't enjoy.

If you just look at personal income tax rates, then Romania and Bulgaria are the best countries, with only 10% personal income tax

I heard Bulgaria has harsh tax laws if you make mistakes you end up straight in Jail, is this true?

 

[Don]

I heard Bulgaria has harsh tax laws if you make mistakes you end up straight in Jail, is this true?

If you read the law, the criminal threshold is rather low indeed. At the same time I heard someone got criminal sentence for keeping 50 dollar printer in his home office, and that was in Poland.

 

[JohnnyDoe]

Family issues. I Temporarily need to be in Europe (24/7) for around 2 years. After that I can go back to Dubai.

Another fake Dubai resident Good luck

 

[marioIT]

The life I want is living on the beach in a massive mansion, with people who understand English, high quality services, no immigrants, clean and safe for families.

That smells either Caribbean or Southeast Asia.

I can't afford to live in Monaco yet so I'm going to make some sacrifices for now, but at the same time I don't want to move to Belize.

in Monaco you don't get a "massive mansion" on the beach...

In the Mediterranean area there's only Malta and Cyprus as "close-to-zero-tax & low-budget beach life".
- Malta is dirty and overcrowded, corrupted, but it doesn't always affect you directly.
- Cyprus more choice, more space, better food, bigger island but still has that laid back med lifestyle and that "in the middle of nowhere" island vibe.
Also random earthquakes, the turkey thing and the Israel thing thereabout...
I'd pick cyprus for living there year round over malta... but Malta is closer to western europe if you need to travel frequently and fast and can live elsewhere for the worst months of the year.

Maybe once you'll live in one of these countries you'll realize that it's better to get out of eu if your goal is "huge mansion on the beach and zero taxes"...

Family issues. I Temporarily need to be in Europe (24/7) for around 2 years. After that I can go back to Dubai.

don't lie to yourself. you know those two years will be 3, then 4, then 5, then you'll not be able to get out anymore as they will tax you or your companies to death if you try to escape...

also remember not to put all your eggs in one basket.

 

[MarkusCostigan]

Why not Andorra? 10% personal tax. Still better than getting robbed in Dubai.

 

[marioIT]

Why not Andorra? 10% personal tax. Still better than getting robbed in Dubai.

cause he said this a while ago in his previous messages:

How can someone live 185 days out of the year in Gibraltar or Andorra? I think I'd shoot myself in a leg.

 

[MarkusCostigan]

cause he said this a while ago in his previous messages:

Imagine having the opportunity to live in a place full of nature, 10% tax, clean air, super safe, maybe even have a vegetable garden, be able to ski in the winter and be a 3 hour drive from the sea. These are lifestyle choices.
Whoever writes "Bulgaria" or "Romania" has the slightest idea of what it really means to live in those places? Especially for someone who is starting to earn good money.
Anyway, I'm going off topic.

 

[Don]

Whoever writes "Bulgaria" or "Romania" has the slightest idea of what it really means to live in those places? Especially for someone who is starting to earn good money.

Check YouTube for more info.
EU is for majority a tax hell, so choices are limited for low tax.

 

[HeinzKetchup69]

If you read the law, the criminal threshold is rather low indeed. At the same time I heard someone got criminal sentence for keeping 50 dollar printer in his home office, and that was in Poland.

Poland was one of my choices until I read this. Are you serious?

I guess for just 2 years of EU residency I can keep my UAE company and earn a salary from there and pay my due personal income taxes without having to set up another EU company. Then after the 2 years I can go back to Dubai and continue my business as usual.

Isn't the Portugal NHR still valid? I read of people still moving to Portugal right now

 

[jayM]

Whoever writes "Bulgaria" or "Romania" has the slightest idea of what it really means to live in those places? Especially for someone who is starting to earn good money.
Anyway, I'm going off topic.

They are some of Europes shitholes, but if you have money you can have a good life there!

Check YouTube for more info.
EU is for majority a tax hell, so choices are limited for low tax.

you really listen to this a*****e ?