Which Business-Friendly Country to Move To?

[Matt_2190]

Hello everyone, I hope you are all safe and well.

Long story short: my business is doing well. I'm just starting but I've done my homework, so it's growing.

The only problem that is one: I'm from a country, in Europe, where taxation is around 60% of net income. In addition to this, bureaucracy and the mentality is not exactly ideal for business.

I work exclusively with web so I can move to any country. I'm thinking to do the big step and move to a business-friendly Country, where doing business is easier and taxation is right for save money. In addition to this, it is important for me to move to countries where there is a high quality of life.

Which country with these characteristics do you recommend?
For now I did this list:

- Northern Europe (Holland, Netherlands) or Switzerland
- United States or Canada

I think that are the only countries with the skills I'm searching.

Do you have any feedback?

Somebody which from these countries can share what are the net income taxes for a business (I searched for various information on the web, but direct stories are more than welcome).

Ps. I apologize in advance for any errors, but I'm helping myself with translators. My English language skills are not so great. One more point for doing the big step.

 

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[Kal-El1998]

I currently live in the midwest of the US. It might just be the best area to move for tax purposes. Not mention cost of living as well. A $500,000 here is like a mansion. $500,000 house in california is like a hole in the wall comparatively.

 

[Matt_2190]

I currently live in the midwest of the US. It might just be the best area to move for tax purposes. Not mention cost of living as well. A $500,000 here is like a mansion. $500,000 house in california is like a hole in the wall comparatively.

Thanks for the feedback.

Can you share what percentage of taxes you pay on your company's income?

It may also be useful for other users around the world to get an idea of US taxation.

 

[Johnny boy]

International Tax and Plan B Strategies for 2023 | Nomad Capitalist

Nomad Capitalist helps successful entrepreneurs legally reduce taxes, grow their wealth, and build a freedom lifestyle free from any one government.

nomadcapitalist.com

 

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[classichouse]

For Europeans who do internet business and who are flexible, the thing is very simple Madeira in Portugal, 10 years tax-free for businesses, during which time you calmly look for the next place.

 

[SebastianSkinner]

Hello everyone, I hope you are all safe and well.

Long story short: my business is doing well. I'm just starting but I've done my homework, so it's growing.

The only problem that is one: I'm from a country, in Europe, where taxation is around 60% of net income. In addition to this, bureaucracy and the mentality is not exactly ideal for business.

I work exclusively with web so I can move to any country. I'm thinking to do the big step and move to a business-friendly Country, where doing business is easier and taxation is right for save money. In addition to this, it is important for me to move to countries where there is a high quality of life.

Which country with these characteristics do you recommend?
For now I did this list:

- Northern Europe (Holland, Netherlands) or Switzerland
- United States or Canada

I think that are the only countries with the skills I'm searching.

Do you have any feedback?

Somebody which from these countries can share what are the net income taxes for a business (I searched for various information on the web, but direct stories are more than welcome).

Ps. I apologize in advance for any errors, but I'm helping myself with translators. My English language skills are not so great. One more point for doing the big step.

Historically I would have said Hong Kong as tax is around 10% of earnings there. However due to the political landscape at the moment I would avoid like the plague.

Singapore is another great one in South East Asia. Great standard of living, low taxation and good connectivity to loads of beautiful countries while also being on the same time zone across Australasia.

Check this company out. They help people secure foreign citizenships in preferable countries to do business for obvious reasons such as tax. They also highlight the criteria needed to do so. Definitely worth checking out!

Get Second Residence and Pay No Tax in These 25 Tax-Free Countries (nomadcapitalist.com)

 

[ivanp]

What do you think about Cyprus or Malta? Two beautiful islands with more than 300 sunny days, with great culture, food and affordable prices for living.

 

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[Kid]

Alaska!

If you don't mind that it's not a country

 

[Matt_2190]

A lot of good tips here!

Hong Kong and Singapore look amazing, but I am afraid that culturally the change is a shock. I'd like go there on holiday and feel the feeling. I know a lot of people that fell in love with them!

Malta could be a good choice, I know that a lot of European people who works with the web is going there. I should give them a look.

Alaska!

If you don't mind that it's not a country

It's cold!

 

[MTF]

- Northern Europe (Holland, Netherlands) or Switzerland
- United States or Canada

Do you consider countries with extremely high taxes business friendly? Because with the possible exception of Switzerland (which has ridiculously high living costs), these are all high-tax countries.

 

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[Antti]

What do you think about Cyprus or Malta? Two beautiful islands with more than 300 sunny days, with great culture, food and affordable prices for living.

Cyprus has a corporate tax rate of 12.5% and zero tax on most types of capital gains, not too bad.

 

[Andy Black]

Ireland?

 

[Deleted78083]

Are you from Poland, or Italy lol we have 50% net income tax for independant in Belgium lmao.

Hungary has corporate taxes at 9%.
If you domiciliate in Monaco which has personal tax at...zero, you'll be set.

Otherwise, I recommend Estonia. It is fair. 20-20-20. 20% tax on salary, 20% VAT, and if you wish to pay yourself a dividend, it is also 20%. Social security tax is at 33%.

Then there is Andorra, Madeira as someone said above, Liechtenstein, Luxembourg, Isle of Man, Guernsey, etc

Anyone knows the tax rate at the Vatican?

The alternative is to domociliate in Dubai. Income tax is 0%, and no social security.

You only need to live there 2 days a year to be tax resident LOL and you can live anywhere you want in the world the rest of the time as long as you dont spend more than 3 months in the country (in Europe).

If you move your company to Nauru, St-Kitts, or even Bermudas, and domiciliate in Dubai, you could end up paying very, very little.

 

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[Deleted78083]

I did some research cuz it's fun. Bulgaria is your best bet, because it's easy to become tax resident there. You have other places to go to like Malta, or Andorra, but the cost to pay 0% tax is high (you have to invest or stay for a long time).

In Bulgaria, rates are 10% income tax, 10% corporate tax, and 5% dividend tax.

All you need is tax residency.

You can become tax resident by residing there 183 days in a year, or by purchasing a propriety, and you can actually buy a place for 10 000 euros. If you don't have them, I guess you can get a loan.

 

[Kasimir]

Do you consider countries with extremely high taxes business friendly? Because with the possible exception of Switzerland (which has ridiculously high living costs), these are all high-tax countries.

Yeah living costs are a real problem here. If you're on a budget you can get through with around 2000$/month but it's also really easy to get a side job which pays you 30$/hour.

 

[Santi M]

I live in Spain and lots of people who work exclusively online and make good money are moving to Andorra, I believe 10% is the max personal Tax and vat is very low. It is cold so it depends on where you come from, you have to spend half of the tear there though, so you can move out in the winter and still pay taxes there.

People's talking very well about Estonia lately, check that out if you want

 

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[jonahsr]

Bulgaria is great for a simple, black & white tax-friendly residence & company location. Portugal's NHR program can also work, but that depends on different factors.

Take a look at this blog; they are a great resource to gain some knowledge in this field, especially if you are just starting.

 

[Fox]

@GlobalWealth might have some good insight here.

 

[CryptoCurt]

Hello everyone, I hope you are all safe and well.

Long story short: my business is doing well. I'm just starting but I've done my homework, so it's growing.

The only problem that is one: I'm from a country, in Europe, where taxation is around 60% of net income. In addition to this, bureaucracy and the mentality is not exactly ideal for business.

I work exclusively with web so I can move to any country. I'm thinking to do the big step and move to a business-friendly Country, where doing business is easier and taxation is right for save money. In addition to this, it is important for me to move to countries where there is a high quality of life.

Which country with these characteristics do you recommend?
For now I did this list:

- Northern Europe (Holland, Netherlands) or Switzerland
- United States or Canada

I think that are the only countries with the skills I'm searching.

Do you have any feedback?

Somebody which from these countries can share what are the net income taxes for a business (I searched for various information on the web, but direct stories are more than welcome).

Ps. I apologize in advance for any errors, but I'm helping myself with translators. My English language skills are not so great. One more point for doing the big step.

I found myself in a similar situation, i think i will have to get a sec citizenship in near future.
Check out nomad capitalist, he is answering your question in his videos.

 

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[MaxAvery]

Hello everyone, I hope you are all safe and well.

Long story short: my business is doing well. I'm just starting but I've done my homework, so it's growing.

The only problem that is one: I'm from a country, in Europe, where taxation is around 60% of net income. In addition to this, bureaucracy and the mentality is not exactly ideal for business.

I work exclusively with web so I can move to any country. I'm thinking to do the big step and move to a business-friendly Country, where doing business is easier and taxation is right for save money. In addition to this, it is important for me to move to countries where there is a high quality of life.

Which country with these characteristics do you recommend?
For now I did this list:

- Northern Europe (Holland, Netherlands) or Switzerland
- United States or Canada

I think that are the only countries with the skills I'm searching.

Do you have any feedback?

Somebody which from these countries can share what are the net income taxes for a business (I searched for various information on the web, but direct stories are more than welcome).

Ps. I apologize in advance for any errors, but I'm helping myself with translators. My English language skills are not so great. One more point for doing the big step.

Florida in the US has amazing tax laws and reasonable cost of living in most cities. I am in Arkansas and our tax plan is going the right direction here, If you'd like to check out any property in the Fort Smith area, our cost of living is very low and easy access to get to major metro areas in a short drive.

 

[CryptoCurt]

I live in Spain and lots of people who work exclusively online and make good money are moving to Andorra, I believe 10% is the max personal Tax and vat is very low. It is cold so it depends on where you come from, you have to spend half of the tear there though, so you can move out in the winter and still pay taxes there.

People's talking very well about Estonia lately, check that out if you want

Spain is quite nice and the plan would work easily, as i am german citizen with EU Passport. So no Visa required. And as long you live there more than 6 month/year, you are fine. Gr8, thanks for the hint!

 

[Knugs]

Hello everyone, I hope you are all safe and well.

Long story short: my business is doing well. I'm just starting but I've done my homework, so it's growing.

The only problem that is one: I'm from a country, in Europe, where taxation is around 60% of net income. In addition to this, bureaucracy and the mentality is not exactly ideal for business.

I work exclusively with web so I can move to any country. I'm thinking to do the big step and move to a business-friendly Country, where doing business is easier and taxation is right for save money. In addition to this, it is important for me to move to countries where there is a high quality of life.

Which country with these characteristics do you recommend?
For now I did this list:

- Northern Europe (Holland, Netherlands) or Switzerland
- United States or Canada

I think that are the only countries with the skills I'm searching.

Do you have any feedback?

Somebody which from these countries can share what are the net income taxes for a business (I searched for various information on the web, but direct stories are more than welcome).

Ps. I apologize in advance for any errors, but I'm helping myself with translators. My English language skills are not so great. One more point for doing the big step.

Are you making so much CASH and is the business safe enough that it justifies the cost of personal and company relocation and the possible increase of living cost?

You might just need a great accountant and not necessarily move countries physically. A holding company in Ireland or switzerland or a low income tax jurisdiction.

 

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[Tourmaline]

Probably should check out Global Wealth Protection

also

Economic Freedom Index Index of Economic Freedom: Promoting Economic Opportunity and Prosperity by Country

 

[Deleted70138]

Economic Freedom Index Index of Economic Freedom: Promoting Economic Opportunity and Prosperity by Country

Among top 20 in "Index of Economic Freedom" Georgia has substantially lower living expenses and probably safest of them all, in terms of crimes.