Thanks Sols!Are you an EU/EEA or Swiss citizen or close family member of one? In that case, no problem, as long your employment contract doesn't forbid it (or the employer never finds out).
Are you not? Then you are probably not allowed, as your work visa might be limited to just this one employer. However, enforcement is quite lax in such cases. Especially if you're dealing with non-EU clients. However, you may run into issues if you don't declare the income and pay Norwegian tax on it. At the same time, paying tax could potentially trigger an investigation by the immigration authorities.
Zero-tax, zero-accounting offshore companies with bank accounts are a thing of the past.Are there any jurisdictions that you could recommend opening a company that would provide consulting services? The aim is to have as much privacy as possible (always appreciated), low cost and easiness of maintenance, bank account.
A company that could be shareholder in other companies without any issue.
*No accounting would be great too. Is there any existing match above criteria?
The company is tax resident in Norway and has to comply with Norwegian law, though, so you will have to pay Norwegian corporate tax. And to pay Norwegian tax, you probably need proper accounting done to prove how much should be taxed (otherwise they might just tax you on total revenue/apply standard taxation, sjablongtakst).The funds would not be paid out from the company, would be rather reinvested. So no dividend.
Isn’t it that if there is no income due to investments there is no tax?Zero-tax, zero-accounting offshore companies with bank accounts are a thing of the past.
All in all, the easiest will be to just form a Norwegian company. 30,000 NOK paid up share capital is a bit hefty but running costs aren't too bad and the paperwork is quite simple for a small, one-person business.
The only benefit an offshore company would have is lower paid up share capital but when you consider that setting up a modern offshore company with all the bells and whistles costs a few thousand EUR/USD, paying 30,000 NOK in share capital and a few more thousand in admin costs isn't that bad of a deal.
The company is tax resident in Norway and has to comply with Norwegian law, though, so you will have to pay Norwegian corporate tax. And to pay Norwegian tax, you probably need proper accounting done to prove how much should be taxed (otherwise they might just tax you on total revenue/apply standard taxation, sjablongtakst).
What you're describing isn't investments, though. You are talking about running an active business from Norway.Isn’t it that if there is no income due to investments there is no tax?
The thing that trips most people up today is the concept of tax residence, especially tax residence for companies.I am missing some basic tax knowledge I believe.
Learn Norwegian prison slang.Any other suggestion?