- Joined
- Nov 1, 2018
- Messages
- 25
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I've been playing with an idea of an end goal lately, spurred on by -what I believe- were some extremely shocking examples of gov't incompetence. Spent some time at my parents,where a news paper is available. Old habits and all...
It may be outlandish. My parents sure as hell wouldn't even want to consider it and even the 'entrepreneurs' (married dentists) I know, would probable frown on even the intention to keep what you earn.
So I'm turning to you!
As to the why of it all, you can read my intro here:
INTRO - Sick & tired of being fed up & tired of being treated like a mule
It would be a 4 part operations, consisting of a Private Foundation/Charity (Private Stichting in Dutch) and 3 LLC's spread across -probably- Europe. This would help with complying to the CFC rules, which will take effect January 2019 in B.
First step: setting up a LLC in Ireland. Ireland is within Europe, therefor "expected" as per Belgian CFC regulation, to be compliant. It's also cheap to set up an LLC and it doesn't take long. On top of that, taxes are much better than in Belgium, which would be helpful it the entire set up took longer to "save up" then anticipated.
Second & Third step: after earning and stacking within the 1st LLC, build out 2 more LLC's.
This would assist the avoidance of needing to charge VAT to customers, depending on which country would bill them.
Fourth step: establish a Private Foundation in Belgium, of which I would be the beneficiary.
A PF needs to have 3 (founding) members. Those, I would control, therefor controlling the PF.
The PF would be funded by ALL profit from the 3 LLC's in the form of donations.
Because there would be no profit left, there wouldn't be taxes to be paid. Just a few costs related to the LLC itself, which had already been covered.
Because the PF gets donations and doesn't practice any activity, it shouldn't be paying taxes and just bother with the beneficiaries of it, which would be me.
Personally, I would probably best have an income of (one of the) LLC('s), which can be low enough to not need to pay taxes on it. Supplemented by the like of an expense account, housing allowance and what not. This part isn't important yet at this point. First step is the 1st LLC.
This is, however, the gist of it. This way, I would be far faster able to travel again without having to charge my customers and arm and a leg for it, as I don't have to stack 33.99% corp taxes and up to 55% personal taxation. Or even worse, pay it all out as personal income.
Input on this draft of a possible end game would be very much appreciated!
It may be outlandish. My parents sure as hell wouldn't even want to consider it and even the 'entrepreneurs' (married dentists) I know, would probable frown on even the intention to keep what you earn.
So I'm turning to you!
As to the why of it all, you can read my intro here:
INTRO - Sick & tired of being fed up & tired of being treated like a mule
It would be a 4 part operations, consisting of a Private Foundation/Charity (Private Stichting in Dutch) and 3 LLC's spread across -probably- Europe. This would help with complying to the CFC rules, which will take effect January 2019 in B.
First step: setting up a LLC in Ireland. Ireland is within Europe, therefor "expected" as per Belgian CFC regulation, to be compliant. It's also cheap to set up an LLC and it doesn't take long. On top of that, taxes are much better than in Belgium, which would be helpful it the entire set up took longer to "save up" then anticipated.
Second & Third step: after earning and stacking within the 1st LLC, build out 2 more LLC's.
This would assist the avoidance of needing to charge VAT to customers, depending on which country would bill them.
Fourth step: establish a Private Foundation in Belgium, of which I would be the beneficiary.
A PF needs to have 3 (founding) members. Those, I would control, therefor controlling the PF.
The PF would be funded by ALL profit from the 3 LLC's in the form of donations.
Because there would be no profit left, there wouldn't be taxes to be paid. Just a few costs related to the LLC itself, which had already been covered.
Because the PF gets donations and doesn't practice any activity, it shouldn't be paying taxes and just bother with the beneficiaries of it, which would be me.
Personally, I would probably best have an income of (one of the) LLC('s), which can be low enough to not need to pay taxes on it. Supplemented by the like of an expense account, housing allowance and what not. This part isn't important yet at this point. First step is the 1st LLC.
This is, however, the gist of it. This way, I would be far faster able to travel again without having to charge my customers and arm and a leg for it, as I don't have to stack 33.99% corp taxes and up to 55% personal taxation. Or even worse, pay it all out as personal income.
Input on this draft of a possible end game would be very much appreciated!
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