Hi everybody,
I spent months investigating the matter to take the best possibile decision.
I’ve been in Malta, and even if I like the place, I don’t think it worth spending more than 6 months a year and paying the crazy rents over there.
Setting up the company it seems also a bit complicated, costly and so on. Surely the 5% tax rate it’s attractive, but the cost of the holding setup and the need to wait for the reimboursments is not. Also if you need to build substance to move elsewhere, probably there are better solution.
I found that Romania it could be a good option to both start your company and get a tax residence permit.
They do have the 183 rules, but since it’s mainland and they don’t have any interest to investigate the matter, i’ve been told that it’s pretty remote the chance they will withdraw your residence permit if you don’t stay phisically for 183 days (if you are traveling for example).
With only 3% of corporate tax (which can be reduced to 1% if you hire someone) up to 1M € and only 5% tax on dividends, and one of the lowests salaries in the whole UE, it seems the ideal place to reduce your tax burdens and create the substance you need to relocate elsewhere tax free later if you want to.
In this case you have pretty many options to go for and you are free to choose where to go between many countries, without the need to change your company structure:
- Portugal (tax free)
- Malta (tax free)
- Dubai (tax free)
- Gibraltar (tax free)
- Greece (low tax)
- Cyprus (low tax)
What do you think about this?
I mean i find this solution cheaper and at the same time more flexible and solid, despite going all in with Cyprus, Malta or other options.
Looking forward to hear your opinion @tkrunning !
Thanks
Paolo