Recent content by blubb

If you see any option to move out of Germany to a more tax-efficient EU country, I'd strongly look into doing so, and doing that *before* starting the business. Otherwise, go with a German UG as Sols said. Or even start as a sole trader (Einzelgewerbe) unless you already have some significant...

Thanks! Has anyone gone this route and can share some experiences?

Mela, I feel very Maltese, even though my ID card number ends in A :D

Would love to know which provider you went with in Malta, all quotes I got were much higher?

That's though the Global Money account, right? I read about that, but I was transferring funds in rather than out. Did you find a way to use Global Money for incoming SEPA transfers?

Hi guys, has anyone managed to find a way to send EUR to HSBC expat without incurring correspondent bank charges? I asked Wise support and even though they explicitly told me no correspondent bank would be involved, I still ended up paying EUR 32.50 – in correspondent bank fees. HSBC Expat...

Let's keep this up to date, as of today: IBKR (Hungary branch): 2.149% (BM - 0.5%) on funds above EUR 10000, no interest paid on the first EUR 10000. No withholding tax. Calling it "Cash Yield Enhancement Program" rather than interest in their Hungary branch, probably due to regulatory...

To sum it up, there is: IBKR (Hungary branch): 1.902% (BM - 0.5%), no withholding tax (calling it "Cash Yield Enhancement Program" rather than interest in their Hungary branch, probably due to regulatory constraints) Bunq: 1.56%, no withholding tax Wise: 0.784% (1.12% minus 30% withholding...

There's one more issue on the company level by the way, and that's arguably the bigger issue than your personal "Wegzugsbesteuerung": As you're currently a resident of Germany, the German authorities will probably take the position that management & control of the company is in Germany. That...

Be aware of the German exit tax (Wegzugsbesteuerung) applicable to dominant shareholders of GmbHs and comparable foreign companies. Since 2022 the tax will no longer be deferred even if you move within the EU (though the ECJ may declare that invalid once again, it's still the current law). It...

Any further suggestions anyone? IBKR is great, but apart from that it still seems the options are rather slim for Malta residents :-/ BTW, can a mod please move this thread to the Bank Accounts board? Sorry for the mistake.

I just noticed IBKR will not pay any interest at all in my case as my account is with their Hungarian subsidiary: "IBCE will not pay interest on credit balances as Hungarian law that governs investment service companies prohibits the payment of interest." Any other recommendations? :) ... OK...

Oh nice, I didn't realize IBKR was paying competitive interest on EUR balances again. Thanks! Trade Republic doesn't open accounts for Malta residents, unfortunately.

Hi, I need to store some Euros for a while and therefore, as interest is a thing again, I'm looking for an EUR denominated money market account. As a non-domiciled resident of Malta I'm looking for an account outside Malta for tax efficiency. As you most certainly know, most EU banks do...

I'm still pondering the options. Still like the UK Ltd for these benefits: Ease of incorporation Cheap maintenance while dormant (especially no audits) And last but not least, potentially better reputation Less dependency on Malta if the local government finally gives in to external pressure...