Tax Nomad Seeks Jurisdiction to Launch New Venture

[John Andrews]

Another solution might be the Ukraine Private Entrepreneur Scheme, cost around 7% of your turnover in total to run. Gives you tax residency but no need to stay in Ukraine. Perfect for Digital Nomads.

what about limited liability?

 

[orangekangaroo]

what about limited liability?

Have UK LLP for limited liability. Bill UK LLP with Ukraine private entrepreneur.

 

[nethostler]

that makes it much easier then. Seychelles with transfer wise might work. But your tax residence is awkward. You cannot be tax resident no where, and it "may" default to your home country / passport country. Might you "may" stay under the radar with seychelles + TW. Your privacy is protected due to seychelles and they won't charge you tax, no filings (although you should keep them as they may ask for them, in reality you don't need to) and is cheap to setup.

What is your EU home country, that can make a difference, as some are more aggressive than others.


WARNING: I don't really know much, just what have read on here, and am no where near as knowledgable as some others who post here.

Thanks for the input all advice is welcome. I wouldn't be trying to stay under the radar of the tax authorities, any privacy requirement would just about keeping my business activities out of the public's/competition's eye.

I'd be interested to know if PayPal business accounts are available for Seychelles + TW. Have you seen any successful set-ups like that?

As you have zero revenue and are just starting, I would use a Romanian micro company set up to start with. 3% tax on turnover up to 1 million euros and reduced to 1% if you pay yourself a salary with the social security contributions. 5% dividend tax. As you have affiliate income and not major expenses this is a pretty cheap way to get business growing without much tax burden. Once you have good profits you can plan for the more expensive structures and get bank accounts etc ready.

This looks promising. As you say 3% on turnover for an affiliate business would be a good deal. How's the reputation and reporting requirements?

 

[user9823671]

As you have zero revenue and are just starting, I would use a Romanian micro company set up to start with. 3% tax on turnover up to 1 million euros and reduced to 1% if you pay yourself a salary with the social security contributions. 5% dividend tax. As you have affiliate income and not major expenses this is a pretty cheap way to get business growing without much tax burden. Once you have good profits you can plan for the more expensive structures and get bank accounts etc ready.

Isn't there some caveats with this type of setup though? That make it less attractive than it seems at first glance. Fairly sure I read that. (might be completely wrong though)

 

[user9823671]

Thanks for the input all advice is welcome. I wouldn't be trying to stay under the radar of the tax authorities, any privacy requirement would just about keeping my business activities out of the public's/competition's eye.

I'd be interested to know if PayPal business accounts are available for Seychelles + TW. Have you seen any successful set-ups like that?

You are not getting a paypal account with a seyhelles company, or any privacy jurisdiction / 0% tax.

I wouldn't be trying to stay under the radar of the tax authorities

Then things become tricky, as you cannot be tax resident no where, so it will default to your home country, who can then decide *any* country you setup is taxable at their local rates. Especially for 0% tax jurisdictions, as if asked to show the company has paid tax, you cannot (and saying "it's in a 0% tax location" doesn't hold up.

Paying tax "somewhere" even if is a nominal amount is better, but depending on your home country, they may ask why it's setup there, but substance, connection do you have to there. As an affiliate, you have no answer.


But I am getting way WAY out of my depth here, but as I say, it gets *complicated*. The idea you can just setup a digital business in any jurisdiction and be done with it, is not as straight forward as a lot of people claim