I agree, you can find an accounting firm like @James Turner that can handle the entire company for you at a very reasonable price per year.
Where did you setup your company after all, I'm interested in to learn a little?Hello!
I'm a Hungarian tax resident and the sole owner of a Hungarian KFT (Design & IT services). Due to some clients' preferences (GB, NL), I need to establish a company in a more "prestigious" country. My question is: which country would be the best for this purpose?
As of 2024, the Double Taxation Treaty (DTT) with the US has been terminated, so that option is off the table I guess. Here are the criteria that are important to me:
CIT paid abroad is tax-deductible in Hungary up to a certain amount, but it would be ideal if the company were a tax-transparent entity so that only the owners would have a tax liability. I understand that a Canadian LLP fits this description, but I would need a 2nd partner there.
- Low or close to 0 initial capital requirement
- Better reputation
- Easy management
- Single ownership structure
- Relatively low fees (my Annual Revenue is between 200k and 350k EUR)
- Regular bank or EMI both fine (I deal with some crypto)
Any help and tips are welcome, even a completely different approach. Thank you!
Double taxation treaties of Hungary - Nemzeti Adó- és Vámhivatal
You will find hereunder the most recent double taxation treaties of Hungary. Some other ones with earlier effective dates are also attached.nav.gov.hu
That may help a lot to get started. Some customers just complain to complain at the end of the day you won't satisfy them anyway.Ask them which countries they consider more "prestigious" firstly before bothering to do anything.
That would be the "normal" use of the parent-subsidiary directive if you talk about dividends.Cyprus Holding and Hungary company for trading could work well out for tax savings.
No, not at all.Cyprus holding and Hungary trading makes only meaning if you live in one of the countries right?