Hi,
newbie here.Sorry it is long.
Currently living a nightmare because I didn't expected this situation bad planning.
I have a business which received a penalty from tax bureau (5K for tax errors) and 2 months latere I was 'happified' with 2 more gov. offices for deep control for last 5yrs. 66K€ in penalties, late interests. My accountant paid 10k from his insurance and went bankrupt. I still owed 56k and about in 30k in bank loans. I sold even my office desk as they wanted money asap (tax execution). My ltd filed bankruptcy. But I was the only owner so for bank loan I signed personal liability as a guarantee. So I am now filling papers for personal bankruptcy loosing my apartment , credit score etc. Main purpose of that control was bad relationship with my neighbor, probably she initialized those controls as I was working from home, but I can't prove.
Ideas how to avoid that next time :
Business:
My income is from IT consultancy on-site / remote mainly Germany, Austria, Slovakia (my citizenship), Hungary, Ireland and through freelance portals US/World , also royalties but those are low.
I am also was/on hold in GPU mining, Amazon.
My idea : ltd Cyprus + seych IBC but I need anonymity from public registers, and I would prefer no accounting or in package with full cover insurance, and somewhat relaxed rules of company expenses (nothing special e.g. I need to book two seats for an economy flight, because I can't fit in one LCC ecoseat, this was one of the problems as I fly extensively in EU, or they didn't accepted energy usage for mining rigs because the meter was on my name, not on ltd's, which near to impossible to achieve in home office in apartment house, and so on).
Dividends tax rate is 7% in Slovakia, from countries with double taxation treaty or 35% for others.
Personal :
Anonymity(no public register, nominee) & Asset protection - stocks, account ,crypto,housing
Need to be able to buy a Slovak house which I 'saved', without 35% tax and rent back/give usage rights to me without any problems
My idea : trust, private foundation
Any advises ?
newbie here.Sorry it is long.
Currently living a nightmare because I didn't expected this situation bad planning.
I have a business which received a penalty from tax bureau (5K for tax errors) and 2 months latere I was 'happified' with 2 more gov. offices for deep control for last 5yrs. 66K€ in penalties, late interests. My accountant paid 10k from his insurance and went bankrupt. I still owed 56k and about in 30k in bank loans. I sold even my office desk as they wanted money asap (tax execution). My ltd filed bankruptcy. But I was the only owner so for bank loan I signed personal liability as a guarantee. So I am now filling papers for personal bankruptcy loosing my apartment , credit score etc. Main purpose of that control was bad relationship with my neighbor, probably she initialized those controls as I was working from home, but I can't prove.
Ideas how to avoid that next time :
Business:
My income is from IT consultancy on-site / remote mainly Germany, Austria, Slovakia (my citizenship), Hungary, Ireland and through freelance portals US/World , also royalties but those are low.
I am also was/on hold in GPU mining, Amazon.
My idea : ltd Cyprus + seych IBC but I need anonymity from public registers, and I would prefer no accounting or in package with full cover insurance, and somewhat relaxed rules of company expenses (nothing special e.g. I need to book two seats for an economy flight, because I can't fit in one LCC ecoseat, this was one of the problems as I fly extensively in EU, or they didn't accepted energy usage for mining rigs because the meter was on my name, not on ltd's, which near to impossible to achieve in home office in apartment house, and so on).
Dividends tax rate is 7% in Slovakia, from countries with double taxation treaty or 35% for others.
Personal :
Anonymity(no public register, nominee) & Asset protection - stocks, account ,crypto,housing
Need to be able to buy a Slovak house which I 'saved', without 35% tax and rent back/give usage rights to me without any problems
My idea : trust, private foundation
Any advises ?
