It's only until December 31, 2028, and it only concerns CIT. The most important things are withholding tax on dividends, income tax rate and social contribution rates.
For the 5% tax rate on Madeira, the requirement is a 75,000 investment in Madeira, and employing one Madeira resident (which could be yourself, if you become a Madeira resident).
100% agree. I often read tips which state ONE single aspect. But it matters all.It's only until December 31, 2028, and it only concerns CIT. The most important things are withholding tax on dividends, income tax rate and social contribution rates.
100% agree. I often read tips which state ONE single aspect. But it matters all.
Thats why Bulgaria / Cyprus are interesting for many people as its quite straightforward.
Yes, I think its somewhere around 13.000€ per month where salary gets more attractive than paying out dividends.
Its same for the whole amount, Around 11-12%What is the effective tax rate above 13000€ salary ?
Next try for reply.If you stay within Schengen, Bulgaria is good. You can cash out from 20-30k/month as salary with low tax, don't have to wait for yearly dividends. Easy to maintain tax residency without staying in the country (with the correct setup).
If you want to stay outside of Schengen, Cyprus is good, travel in and out through North Cyprus while it looks like your inside the country. You can take a shareholder loan for 9% interest and then clear it against dividends.
No matter what, always make sure to have the correct setup (yearly rental contract, utilities, arrange monthly cc spending within the country with receipts).
At a monthly salary of 13.000€ it should be around 14,6% total expenses. With rising salary it will get closer to 10,x % because social contributions are capped. For example at 30.000€ monthly you will be around 12% total.What is the effective tax rate above 13000€ salary ?
It certainly is. If you are a high earner and want to stay within EU, Bulgaria is a smart choice. And now since it's joined Schengen it is even more attractive.@Ade Im currently looking into Bulgaria, seems like a solid choice for the EU market.
And now since it's joined Schengen
Yes, correct. 9 out of 10 times I fly when I travel abroad (saves time and it's cheaper) so it's Schengen for me since 31 March
I think so. Same for countries like Bulgaria. And Hungary. Also for non tourist cities in Asia. Less expats. Less English. Some places it’s better during high season. But it depends on your lifestyle. A peaceful life is for everyone different. I don’t speak Thai and I don’t want a Thai wife. For me it’s a choice and doesn’t mean that I doesn’t like my life here. And is doesn’t also mean that you never have to met with locals but don’t have to integrate. In most countries they are already happy that you come bring money.Don't you almost have to be a local to be able to live there peacefully?
How did you obtain the residence card? Did you actually rent/own property there or is there a service provider which could help with this?Yes, I owned a business in Bulgaria. It was very easy. I paid a local accountant to handle everything for me, including setting up a bank account and obtaining a residence card, all for a few hundred euros.
Accounting is slightly more expensive since it requires monthly submissions. Please be aware of the bureaucracy involved. Some examples: Transferring ownership of a car takes a day, and it's the same for a scooter.
They are generally easygoing people, though.
Maybe I was just unlucky. I have more of a western European/Scandinavian look.
Actually Slovakia is on my watch list. I've spent about 6 months there in the past 18 months and its pretty good. Low population, great roads, low cost of living, pretty landscape. More english spoken than Bulgaria (or France where I have residency, for that matter). The low dividend rate is certainly enticing and their desire to attracting foreign workers and investors is a new development. Its more central location in Europe makes is more travel friendly than the Balkans,Don't you almost have to be a local to be able to live there peacefully?
Actually I think its an ideal family destination. Unless the idea of bears walking down the street every so often freaks you out.I believe that Slovakia also has some gems where one can live, but I must agree with the above, it is not a place I would immediately take my family to live. I would find other places and live with a higher tax.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?