European citizen wants to form a company

richardleb · Dec 18, 2015

Hi Everyone,
i live in Italy (EU) and i have italian citizenship.
Despite this, i would like to form a company outside Italy and pay taxes in the new country but still remain an italian citizen.
Paying taxes here in iTALY is for crazy people, it would end up a bloodbath cause government cut off almost 50% of your annual income. And i think that's illogical.

What country would you suggest to incorporate a new company?
Remember that i also will need to open a bank account in the new country.

Ps.: I can work anywhere with just my smartphone, no need of a office..

Thanks in advance!

Pps.: if you would like to chat with me privately, you can add me skype: resderelictae

pseudonym · Dec 21, 2015

i live in Italy (EU) and i have italian citizenship (...) pay taxes in the new country but (...) remain an italian citizen.
begin by replacing everything in bold with Panama or Paraguay. if you are unable to... you will see a dead end quickly

manolo12399 · Dec 21, 2015

ha ha I am going to affront a similar issue soon, and I have been advised to go for BVI HongKong company with HongKong bank account, 0 tax to pay in hongkong, and HongKong is a country with good name, customer would not have issue to be invoiced from a company there, but you will have to figure out the Italian side, as far I know if you dont live in italy for so many days may be 180, you should be fine, or move to a country with low tax or lax rules, as country of residency

pseudonym · Dec 21, 2015

manolo12399 said:
ha ha I am going to affront a similar issue soon, and I have been advised to go for BVI HongKong company with HongKong bank account, 0 tax to pay in hongkong, and HongKong is a country with good name, customer would not have issue to be invoiced from a company there, but you will have to figure out the Italian side, as far I know if you dont live in italy for so many days may be 180, you should be fine, or move to a country with low tax or lax rules, as country of residency

the real-world issue is not where your offshore bank, offshore money, offshore website ... etc., are located. the real-world issue is that taxation will be sought after by the nation in which your physical body is located at that time. this is a new approach to some nations. an established one in others. it also depends largely on how countries police this...

- some nations will not ask someone how he got there, where he finds the money to pay his rent and groceries from or how he was able to afford a car. e.g. sub-saharan africa, a lot of asia, south america etc.,

- other nations will not ask those questions to people resident for under 1, 3, 4 or 6 months. the precise term differs between nations.

- again other nations will begin sending default tax bills to your address based on an assumed income, if they are unable to determine where you get the money to pay your rent from. sometimes within as little as 3 months. these are mostly nordic and north-western europe [ excl. the british isles ]. these are the most dangerous places to be, as you will be forced to prove how you were able to pay rent [ and thus disclose that income, and thus be taxed on it or risk very, very heavy fines and flight restrictions ]

think carefully where your physical body is located. this is what matters most in today's tax planning. the location of your money, your income, your bank, your payment processor etc., all do not matter as much anymore anno 2015. your physical body is what everything revolves around

RuthSam · Dec 21, 2015

I totally agree with the below. If you are willing to move from Italy you could find places like Hong Kong, Cyprus, BVI, UK and even the Seychelles, there you have to pay 0% corporate tax if you setup your entity correct. Another method to avoid to move anywhere is to establish a Trust for instant in Cook Islands and have a Trustee to manage everything for you.. it's done by many of the rich people in the world.

pseudonym said:
the real-world issue is not where your offshore bank, offshore money, offshore website ... etc., are located. the real-world issue is that taxation will be sought after by the nation in which your physical body is located at that time. this is a new approach to some nations. an established one in others. it also depends largely on how countries police this...

- some nations will not ask someone how he got there, where he finds the money to pay his rent and groceries from or how he was able to afford a car. e.g. sub-saharan africa, a lot of asia, south america etc.,

- other nations will not ask those questions to people resident for under 1, 3, 4 or 6 months. the precise term differs between nations.

- again other nations will begin sending default tax bills to your address based on an assumed income, if they are unable to determine where you get the money to pay your rent from. sometimes within as little as 3 months. these are mostly nordic and north-western europe [ excl. the british isles ]. these are the most dangerous places to be, as you will be forced to prove how you were able to pay rent [ and thus disclose that income, and thus be taxed on it or risk very, very heavy fines and flight restrictions ]

think carefully where your physical body is located. this is what matters most in today's tax planning. the location of your money, your income, your bank, your payment processor etc., all do not matter as much anymore anno 2015. your physical body is what everything revolves around

pseudonym · Dec 25, 2015

RuthSam said:
I totally agree with the below. If you are willing to move from Italy you could find places like Hong Kong, Cyprus, BVI, UK and even the Seychelles, there you have to pay 0% corporate tax if you setup your entity correct. Another method to avoid to move anywhere is to establish a Trust for instant in Cook Islands and have a Trustee to manage everything for you.. it's done by many of the rich people in the world.

since the dawn of bank KYC and automated government UBO disclosure, the function of trusts has withered down tremendously. trusts are now only useful when money is essentially buried without any intent on accessing it within the next 10 or 20 years. if you are actively going to use, withdraw or transfer the money behind a trust; then this is not the right vehicle

MonsterMag · Dec 25, 2015

Italy corporate tax: 31.4% (27.5% plus 3.9% municipal)

Get your facts straight before you even think about starting a company.

Bane Bentley · Dec 31, 2015

MonsterMag said:
Italy corporate tax: 31.4% (27.5% plus 3.9% municipal)

Get your facts straight before you even think about starting a company.

Shows how much serious the OP is...

Anyway, Andora and Liechtenstein are close to Italy and are classified as "Tax Havens", so you can check them and not have to work with some 5,000 mile away banana republic.

European citizen wants to form a company

richardleb

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pseudonym

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manolo12399

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pseudonym

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RuthSam

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