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Lowest tax rate country in Europe for online moneymaking?

Discussion in 'Business & Tax Advice' started by Frankie4Fingers, Jan 15, 2016.

  1. Frankie4Fingers

    Frankie4Fingers Power Member

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    Doing some research it seems Bulgaria and Macedonia have a tax rate of 10-15%

    Does anybody here have first hand experiences in opening a company there?
     
    Last edited: Jan 15, 2016
  2. MuayThai

    MuayThai Jr. VIP Jr. VIP

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    Low tax rate is not the only goal, I am afraid. In the first place the country should be business friendly with transparent laws.
     
  3. Frankie4Fingers

    Frankie4Fingers Power Member

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    You have a point there, not to mention the quality/cost of life if moving there for most of the year.

    But right now my top priority is isolating the lowest tax rate countries and then start analyzing the other issues
     
  4. MisterF

    MisterF Jr. VIP Jr. VIP

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    Isn't Gibraltar 10% ? It's advertised via tax brokers etc and is easy enough to open accounts there, Andorra is 10% too.

    Isle Of Man might be worth looking at, as it is another the offshore bookies use. I have a feeling they charge 20% sales tax on sales made on / from the island but corporation tax is zero.
     
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  5. jaopet2000

    jaopet2000 Newbie

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    First question is:" Will they allow to open company for you as stranger?" Maybe you will need to find someone with citizenship and that goes in other direction than you thought. Taxes are commonly for domestic use. Foreigners maybe have different tax or VAT. Think twice before you go for opening bcs VAT in Bulgaria is 20 % Macedonia is 18 %. Not to mix with other taxes this is VAT or valued tax number. Copied from Wikipedia:From the perspective of the buyer, it is a tax on the purchase price. From that of the seller, it is a tax only on the value added to a product, material or service, from an accounting point of view, by this stage of its manufacture or distribution. Do your research again, but go from perspective that you are foreigner and find musts and do's. Wish you luck. If is there anything I can help you just ask :D Cheers
     
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  6. MonsterMag

    MonsterMag Power Member

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    https://en.wikipedia.org/wiki/Tax_rates_of_Europe
     
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  7. MisterF

    MisterF Jr. VIP Jr. VIP

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  8. Ambitious12

    Ambitious12 Elite Member

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    I heard Vietnam is better to open a company there because one of my friends from france,went there and started business there.
     
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  9. jonross

    jonross Registered Member

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    In some countries, online income has 0% tax, I think.
     
  10. dazk2002

    dazk2002 Power Member

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    Bulgaria is a flat 10% and it's pretty easy to open a LTD company here. You have to submit yearly tax returns just like anywhere else. You can appoint an accountant to handle all of this for you if you won't be in the country.
     
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  11. laur.laurix

    laur.laurix Power Member

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    Romania doesnt tax online income if you are an individual earning online. if u want a company go for Ireland I think they have a tax of 1%.
     
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  12. silvi-kucedra

    silvi-kucedra Registered Member

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    Bulgaria has a flat tax rate of 10% for companies and individuals. It doesn't matter if you are a foreigner, you can easily open a LLC there (they actually encourage foreign investments, hence such a low tax rate). You can hire an accountant to do everything for you - open/set up the company, handle all the documents, handle taxes, file taxes, returns, etc... and the accountant fees are very cheap compared to other countries (as most other things in Bulgaria). If you are making at least 5 figures per month, you will see a substantial amount of savings in taxes if you move all your assets/LLC-s there!
     
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  13. W9go

    W9go Elite Member

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    there is a special regulation for online income in some countries. romania if you life there is 0 and the best deal in europe.
    for a company i don't know ...
     
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  14. oscilay

    oscilay Regular Member

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    Since when?........
     
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  15. Istoka

    Istoka Registered Member

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    Yup - 10% flat tax in Bulgaria. Opening LTD/LLC is super easy and it costs less than 100 euro if you do it by yourself and up to 200 euro if you hire somebody. The minimum capital is 1 euro. So everything is pretty easy :) You can find accounting services as low as 30 euro per month. We are not a tax heaven here, but it is still pretty neat :)
     
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  16. pseudonym

    pseudonym Regular Member

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    where you reg the company is far less important than where your physical body is located. just FYI.
     
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  17. McPatrick

    McPatrick Regular Member

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    No. Its 12,5% corporate tax.
     
  18. Frankie4Fingers

    Frankie4Fingers Power Member

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    In my country there's VAT tax too, and I used to have a proper company there, so I'm kinda familiar with it :)

    As far as citizenship, I think as long as you live in a Schengen country you should be allowed to open businesses in any other country in the Schengen area (just an educated guess on my part)
     
  19. Frankie4Fingers

    Frankie4Fingers Power Member

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    Do you have any sources to gather more info about this? In this thread some users mentioned Romania as an example of that
     
  20. LostConnection

    LostConnection Senior Member

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    Depends on the country I think, but usually you don't have to be a resident of the country in question where you're starting a business. For example, the UK allows for non-residenr directors as long as you have a UK address that they can send mail to (directo's service address for yourself and registered office address for the business).
     
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