Estonia e-residency + Portugal NHR

[Kosem]

I like the idea of using the Estonia corp to defer taxation until dividend distribution. I can compound my wealth faster that way.

Meaning you pay taxes only on dividends distribution?, and until then all the money counts as non profit?. Also, can you please share details (even on private message) of your accountant / tax lawyer?. I am in the same situation and was thinking about forming the company in Romania, but now after i see the advantage of Estonia, would dig into that (maybe lawyer / accountant can advise on best solution). Thank you.

 

[JC1984]

Curious which solution you went for at the end? How’s it going?

I just have a Bulgarian corp. It's ok but costs more than I would like.

Meaning you pay taxes only on dividends distribution?, and until then all the money counts as non profit?. Also, can you please share details (even on private message) of your accountant / tax lawyer?. I am in the same situation and was thinking about forming the company in Romania, but now after i see the advantage of Estonia, would dig into that (maybe lawyer / accountant can advise on best solution). Thank you.

Portugal lawyer: DMA Accounting in Cascais....also I have a German friend who went the Romanian route.

 

[bandanna]

DMA are great but they are accountants not lawyers.

If you need a tax lawyer/attorney for a legal advice, I had good experience with RME Legal in Lisbon.

Also - would you be able to share approximate costs for the setup in Bulgaria?

 

[JC1984]

Monthly: $635 USD for management, $264 accounting, and then I also pay Socials for myself and the director combined ($72 health, $64 pension, $238 social security, $78 employment taxes)

 

[Juleski70]

One thing I notice in this thread is a lot of talk about 20% corp tax on Estonian-issued dividends while ignoring that you can pay yourself a salary at 0% to the corp, assuming you actually do work related to the company's activity.

I know a lot of folks here worry about the possibility of triggering PE but is that likely in Portugal under NHR if you are a 'little fish' (< 300k/yr)?

 

[JC1984]

Unlikely but you still have to worry about it.

 

[falesia1]

Monthly: $635 USD for management, $264 accounting, and then I also pay Socials for myself and the director combined ($72 health, $64 pension, $238 social security, $78 employment taxes)

Hello JC, did you have any issues with the bank account with a Bulgarian Company? I'm getting the NHR right now and i'm having same doubts about the country, so i'm exploring Ireland (but the local substance price is high), Estonia (easy to open, easy to manage, everything in english), Bulgaria, Romania or Cyprus.
Did you used a trusted partner for the Bulgarian company that you can maybe suggest?

One thing I notice in this thread is a lot of talk about 20% corp tax on Estonian-issued dividends while ignoring that you can pay yourself a salary at 0% to the corp, assuming you actually do work related to the company's activity.

I know a lot of folks here worry about the possibility of triggering PE but is that likely in Portugal under NHR if you are a 'little fish' (< 300k/yr)?

The Tax Lawyer i'm using told me that receiving a monthly salary with 0% tax could be a problem (because it's monthly and not annual like the dividend), but that in his experience they really start questioning about 500k/year received or more (his experience, not a financial advise )