Best Country for Service Business and Ecommerce for EU Citizen

[PinkiPops]

Buongiorno! I just turned 19 this year, i have worked since 17 to get a budget to open my business. I have now 10k of capital, EU citizenship and speak Romanian, Russian, English and Italian. Currently reside in Malta. I am free to move wherever i want except Moldova. I am also consider change of place of the operation later on if needed. Also i may travel a lot with my wives and not gather 183 days in any country at all.

I have 10k eur and would like to finally start my Filmaking company. My plan originally was to have a microcompany in Romania but they changed the laws this year so i consider other options. Also i thought to buy all the equipment (7K eur) with personal money so they belong to me and not to the company. Also in parallel i'd want to setup my ETSY shop business where I sell digital products and personalised prints provided by my partner.

To bring some value to the forum I will list some information I know Myself

Romania::

Personal Tax 10%

Turnover Tax 1%
Dividend tax 5%
Need 1 employee
Minimum wage 600 eur -- also need to pay social security taxes and stuff-- i think it goes to 10 + 25 % so 900 to pay by me for them to receive the 600

Questions on this one: If i take somebody with PFA(self-employed) and make him a contractor for the company, so he pays the 10% tax and i can give him 670 and he gets the same 600 after tax == does he count for the 1 employee requirement?


I cheked Bulgaria, 10% tax, but I hear it is too dangerous, and also i dont speak Bulgarian so maybe not that exciting

Cyprus , 12.5%, sounds like a good option because I dont need to be there but the setup is costly, at least now.

Italy, arrivederci, non credo che si puo fare qualcosa, di la e socialismo..

Hungary and Ireland both have high dividend taxes even if they have somewhat decent corporate tax.

Moldova could be an option but i cannot physically go there, and also dont believe this coutnry will live that long.



I want a Setup which is easy, does not cost much and doesnt pay a lot of taxes. Romania could be the one but I am still checking.

Thank you for help.

 

[uranium]

Buongiorno! I just turned 19 this year, i have worked since 17 to get a budget to open my business. I have now 10k of capital, EU citizenship and speak Romanian, Russian, English and Italian. Currently reside in Malta. I am free to move wherever i want except Moldova. I am also consider change of place of the operation later on if needed. Also i may travel a lot with my wives and not gather 183 days in any country at all.

I have 10k eur and would like to finally start my Filmaking company. My plan originally was to have a microcompany in Romania but they changed the laws this year so i consider other options. Also i thought to buy all the equipment (7K eur) with personal money so they belong to me and not to the company. Also in parallel i'd want to setup my ETSY shop business where I sell digital products and personalised prints provided by my partner.

To bring some value to the forum I will list some information I know Myself

Romania::

Personal Tax 10%

Turnover Tax 1%
Dividend tax 5%
Need 1 employee
Minimum wage 600 eur -- also need to pay social security taxes and stuff-- i think it goes to 10 + 25 % so 900 to pay by me for them to receive the 600

Questions on this one: If i take somebody with PFA(self-employed) and make him a contractor for the company, so he pays the 10% tax and i can give him 670 and he gets the same 600 after tax == does he count for the 1 employee requirement?


I cheked Bulgaria, 10% tax, but I hear it is too dangerous, and also i dont speak Bulgarian so maybe not that exciting

Cyprus , 12.5%, sounds like a good option because I dont need to be there but the setup is costly, at least now.

Italy, arrivederci, non credo che si puo fare qualcosa, di la e socialismo..

Hungary and Ireland both have high dividend taxes even if they have somewhat decent corporate tax.

Moldova could be an option but i cannot physically go there, and also dont believe this coutnry will live that long.



I want a Setup which is easy, does not cost much and doesnt pay a lot of taxes. Romania could be the one but I am still checking.

Thank you for help.

Why don't you setup in Malta since you live there
As far as I know tax rate there is 5%
I'm not sure, plz confirm with others

 

[Sols]

You already live in a tax haven. Set up a Maltese fiscal unit (5% net tax). Setting it up isn't cheap, but it's cheaper long-term than managing some overseas foreign setup when you need to take into account cross-border tax residences for the company, tax treaties, and other complications.

Unless you're a Maltese domiciled person (e.g. Maltese citizen born to Maltese parents).

Cyprus , 12.5%, sounds like a good option because I dont need to be there but the setup is costly, at least now.

If Cyprus is too expensive, now is not the time to form an overseas company.

I want a Setup which is easy, does not cost much and doesnt pay a lot of taxes. Romania could be the one but I am still checking.

The only option that might make sense is a US LLC, but speak with a Maltese tax adviser about how your income would be determined (where they are generated) and treated (personal income or dividends).

You mention film making. Are the films being made in Malta? What does the company do?

 

[Cloudbanck]

I am free to move wherever i want except Moldova.

Buonasera! That's a phrase you don't see very often! Am I the only one that needs to parse it, so there are Syldavia, Moldova and Borduria. Now which of these are real and which only exist in Tintin albums?

But yes, setting up a Maltese fiscal unit sounds good. But if it was possible to set up a company that only exists in Tintin universe that would be even better.

 

[jafo]

Also i may travel a lot with my wives

Buy this man a drink! This guy is +100 times smarter than I ever was or will be

 

[uranium]

Buy this man a drink! This guy is +100 times smarter than I ever was or will be

Hahaha this made my day!
He is only 19!
This kid is on another level

 

[PinkiPops]

Hahaha this made my day!
He is only 19!
This kid is on another level

When i was 16 i wanted to abbandon my gf and become a monk at a monastery
So thats not the most unexpected thing I can do XD

You already live in a tax haven. Set up a Maltese fiscal unit (5% net tax). Setting it up isn't cheap, but it's cheaper long-term than managing some overseas foreign setup when you need to take into account cross-border tax residences for the company, tax treaties, and other complications.

The only option that might make sense is a US LLC, but speak with a Maltese tax adviser about how your income would be determined (where they are generated) and treated (personal income or dividends).

You mention film making. Are the films being made in Malta? What does the company do?

Thanks for the response
I would like not to live in Malta but anyways I thought of this option for the Ecommerce business at least

I am a "Movie" Director for add and also Motion Designer and VFX artist
My Filmaking business will deal generaly with video content production such as adds for social media, tv and stuff or even edit videos for bloggers. Main focus of course will be on the clip production part. Would like to progress to have only musical videos and high-end adds as orders. Basically i am intersted in making more money just to work on more expensive projects because it is fun, and if I would want to become a top tier Movie Director I would need to work on my skills on progressively more expensive projects. Also for portfolio the company would have to invest in creative projects as well.

I will definetly need a team for video production, usually at least 4-5 people (sometimes only 1-2), each of them better to be paid on project rather than a full time salary as I would not always need them for work so we are speaking about hiring contractors. Freelance could be an option as well for the post production part (editing).

Videos or films would be produced anywhere with suitable landscape and pricing ofcourse or in a special studio owned by a company. In malta the rent prices are hign enough, that was one of the reasons to choose another country where to reside.



There are also cool thing i heard. In some countries for example Italy the government financed film companies by giving them funds for organization. There are often such laws for different arts. A country with a good support programme would be appreciated.
Also heard you could access european funding if you build a company in Romania. Does it apply to content creation?