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What is the best legal venue to open an online business?

Discussion in 'Black Hat SEO' started by Mirkogiovannetti, Nov 4, 2019.

  1. Mirkogiovannetti

    Mirkogiovannetti Junior Member

    Aug 27, 2018
    Likes Received:
    Hacker and CEO of Web Agency
    What is the best legal venue to open an online business?

    Guys any of you have ever spoken here on the forum about what a good country can be where to open an online business? In your opinion, where is the country that is fiscally more convenient? We open a debate about it? The tax system is very complicated in my country.
  2. Insanekhane

    Insanekhane Registered Member

    Feb 28, 2019
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    I know this answer may be a bit controversial due to the high tax rates and such, but Denmark is quite a good option and I will try to explain why:

    Easy Company Registration
    Starting out as a sole proprietor is one of the most easy things in the world. You just have to go to a website and open it, and it will not cost you anything at all.
    Of course, opening a company comes with some rules, which you have to obide by of course.

    Not a requirement to get an accountant
    I do not know if this is the case in other countries, but here, you are not required to have an accountant when starting out, even though it may save you a lot of work if you get one. So, you can save this expense, if you are willing to do the accounting yourself.

    Okay, I know what you are thinking - How can tax be a benefit? Well, of course paying no tax would be preferable, but there are some things to consider when talking tax in Denmark. The tax in Denmark is a scaling percentage based on income. The higher the income, the higher the tax rate. The lowest percentage is 39% which scales (not to 100% but a lot higher than 39%. These tax rules are a bit complicated) until you hit the $74.000-ish a year. Sounds bad right? Well, the tax is based on your profit, not your revenue, which is nice. That means that you avoid paying taxes on all expenses to marketing (yes, buying links and such count here as well) and other expenses to keep your company running (Also an accountant if you were to get one). You still have to pay sales tax, but I imagine that you have to do that almost anywhere.

    I know you could probably start it in some third world country and have no sales tax and such, but I found Denmark to be very conveniant and easy. I got to say, I do have an accountant which makes it a lot easier. I pay $93-ish/month (remember, I do not pay taxes on the amount I have to pay him, so it is like I am just paying him a little over half that amount) to have him take care of the required when it comes to tax. All I have to do is confirm the sales tax every 3 months.

    If you have any questions, feel free to ask