BothHis looking for weather forecast
what about corporate tax ? You mean you live in "A" country and have an offshore company in "B" where you only pay the 5% tax on dividends ?Both
Seriously, yes, looking for a country with zero tax to trade crypto as a professional trader, but weather matters. I have some health issues that do not tolerate humidity at all so it's a deal breaker for me.
I know there are no so much such options though. Apart from Kuwait if Switzerland is confirmed it could be interesting to consider.
If not, I may spend some years traveling around and paying tax in my home country. Which through an offshore company is 5% on withdrawn dividend, money-wise absolutely acceptable.
I think Switzerland is probably your best bet (If all you do is trade).
Well if it's an offshore company you have zero corporate tax there + local dividend. And in my country the dividend is 5%. But that's not true for most EU countries. Not sure just about Estonia (and not sure if I want to live there), but it seems in most places the dividend is at decent rate.what about corporate tax ? You mean you live in "A" country and have an offshore company in "B" where you only pay the 5% tax on dividends ?
I think Switzerland is probably your best bet (If all you do is trade). Not sure if Puerto Rico suits your situation but I do believe they don't tax crypto gains. As a day to day trader a lot of great options like Malta, Portugal, Germany go out the window and I dont imagine you want to live in Bermuda or some remote island.
Edit: Forgot about Georgia, maybe that's worth checking
No offence for Georgia, I have never been there, so I might be wrong. But does not sound like a cool country to live in.
I guess you are referring to my decision to move out of Bulgaria and not to the offshore company to save further here. Because if all it takes to save further 5% is to pay a couple if thousands per year, why not do it?
So as I said I am fine even with some low tax if it's a nice country, otherwise I might keep traveling around which is also cool.
BTW I wouldn't recommend Bulgaria as a place to move if you are making a lot of money at least if you don't use offshore so your business is subject to the local tax authorities.
Are you sure, I saw here and there that above 3 transaction a year is 15%Sorry, didn't get it. Currently it is 10%, and now I am in the process of opening the offshore to cut it to 5% dividend. But it still makes a big difference also that with the offshore you pay it just on withdrawn dividend and not on all annual profit.
This is the statement of the tax authorities. And is actually 15% tax + social, health, etc... (which is another 30-40% until some level, namely until you earn up to 3K BGN profit per month you pay these 30-40% on this up to 3K. But if you earn more than 3K BGN per month you will not pay more social contribution on what is above those 3K). And from 1st April this number will be 3,400 BGN.Are you sure, I saw here and there that above 3 transaction a year is 15%
I researched this a lot and I was assured by multiple specialists that if you have a remote nominee who manages on paper the company from the other country they accept it as managed from there and you pay just the dividend. Obviously you must not have an office here as well - which is the case when crypto trading. But you should keep silent that you are working from here, of course. If asked questions (quite unlikely IMO), I was advised to say: "For more details, please refer to my director". But please note that the local tax authorities in general know perfectly well how offshore companies are working and they tolerate it. Some big mafia guys related to the ex-government and even the current finance minister have offshore companies, so the laws regarding this are made in a "soft way" in comparison to other countries.Also Bulgaria has permanent establishment rules so that if you manage your offshore from Bulgaria, shouldn't it be taxed as a bg company ?
I would say it's absolutely impossible in Bulgaria. First, all banks here are super anti-crypto and you can barely withdraw anything directly. Currently there is one bank which sometimes allow some transfers and even that's not guaranteed. I am sure they will not open a bank account even for a local crypto company. Let alone for an offshore one.
Thank you, nice sum up, yes I heard more and less the same as you did from accountants and consultants.I would say it's absolutely impossible in Bulgaria. First, all banks here are super anti-crypto and you can barely withdraw anything directly. Currently there is one bank which sometimes allow some transfers and even that's not guaranteed. I am sure they will not open a bank account even for a local crypto company. Let alone for an offshore one.