I’m looking for advice on where to establish residency for myself, and how to legally tax optimize for my circumstances. I’m willing to relocate myself and get a residency / spend time wherever a suitable location can be found. I’m ultimately looking to invest as much as possible of my earnings, so cheap is good, but a nice location on top of that wouldn’t be bad either
I work remotely for a Scandinavian company, but get paid as a contractor charging a bit under 10.000EUR / mo + VAT, so I’m free to plan things as I like. I’m however constrained to stay in a time zone where I can be available during regular European working hours, but could potentially be fine with something outside the EU/Schengen as long as it’s not too sketchy.
What I’ve looked into so far:
Poland: Seems like a great place given that B2B contracting work can, with the right scheme as I understand it, be taxed at just a 19% flat rate with fixed, low social security cost, so you even get access to health care. I’m also seeing good opportunity to invest in real-estate here.
The low cost of living is excellent, and it’s somewhat neutral culturally for me as a Scandinavian. Things also seems fairly straight-forward to set up and hand off to a Polish accountant since it’s a popular model also for locals.
A small disadvantage is that this scheme does not allow tax deductions, but I do web dev so I don’t have too many of those anyway.
Estonia: I’m intrigued by setting up a company via e-residency here until I settle on an optimal tax situation, taking advantage of their tax on distribution rules.
Does anyone know if I can simply pay myself a salary elsewhere in Europe and not be subject to corporate tax in Estonia, or will I always be liable for at least the 20%? According to https://micropreneur.life/salaries-for-e-residents-the-ultimate-guide/ there’s no longer any hassle with board-member salaries for sole proprietors, which seems like a nice development.
Malta: Does anyone have experience with living in Malta. How much taxation can you expect to avoid? How should I set things up legally in order to take advantage of the territorial taxation in Malta?
Bulgaria: Also seems interesting. I know very little about it, and would have to hand things off to a local professional accountant. Does anyone have any numbers on how much you could expect to take home, and what the best legal structures are in Bulgaria?
Do you have any other recommendations? I’m not too experienced with running my own business yet, so as many details as possible + concrete/tested setups are super appreciated, I prefer to not get too creative
Regards & thanks for any advice,