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Offshore options for a brazilian software dev

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iusesemicolons

New member
Hello there,

I have a company here in Brazil (microempresa-simples) and doing software development services only to foreign clients. My main clients are from US, Canada and EU. I do invoice them through my company, receive my payment through payoneer and in total pay around 10% here in Brazil, including pension contributions. I pay around 8000-9000 USD yearly on taxes.

I'm looking to live like a nomad for some time and looking some offshore options to move my company and myself. I searched some options like Estonia, US LLC but didn't find any benefit I'm looking for. The most promising one was Dubai freelance visa which is around 2000 USD yearly but it's still risky due to it has a yearly fixed price instead of % of invoiced amount. I don't mind visiting a county once a year/6 months to keep my tax residency.

I also look to find a more financially liberal country to keep my savings in USD (maybe with a interest rate) as in Brazil current interest rate on brazilian reais is a total joke (2%). Also it's extremely painful to receive foreign currency to the country. I sometimes needed to use crypto just to do that and I'm still afraid if they can tax me for this.

Currently researching about Panama, Paraguay or Portugal but seems like all countries has some issues? Also Georgia or Ecuador look like they have good interest rates for USD. What would be the recommendations?

I can travel to any country to open a business and bank account. Thanks in advance.
 

Fred

Dubai Expat
Mentor Group Gold
Commercial Service
Hello there,

I have a company here in Brazil (microempresa-simples) and doing software development services only to foreign clients. My main clients are from US, Canada and EU. I do invoice them through my company, receive my payment through payoneer and in total pay around 10% here in Brazil, including pension contributions. I pay around 8000-9000 USD yearly on taxes.

I'm looking to live like a nomad for some time and looking some offshore options to move my company and myself. I searched some options like Estonia, US LLC but didn't find any benefit I'm looking for. The most promising one was Dubai freelance visa which is around 2000 USD yearly but it's still risky due to it has a yearly fixed price instead of % of invoiced amount. I don't mind visiting a county once a year/6 months to keep my tax residency.

I also look to find a more financially liberal country to keep my savings in USD (maybe with a interest rate) as in Brazil current interest rate on brazilian reais is a total joke (2%). Also it's extremely painful to receive foreign currency to the country. I sometimes needed to use crypto just to do that and I'm still afraid if they can tax me for this.

Currently researching about Panama, Paraguay or Portugal but seems like all countries has some issues? Also Georgia or Ecuador look like they have good interest rates for USD. What would be the recommendations?

I can travel to any country to open a business and bank account. Thanks in advance.
I can only speak for what you have mentioned about Dubai.

Don't forget for the freelance VISA you need to have a profession that you already conduct before under your personal name and need to proof it. For sure you will get the Visa but when it come to banks it's not that easy without a reliable history that you already provided the profession before in Brasil.

If you are willing to travel go for a Dubai company with Visa (3 years validity) and open a business bank account in name of the company always better to use a separate legal entity. The business bank account doesn't require proof of address with right structure and bank you simply need to be in the country every 180 days for 24 hours.

Cost will be 50% of what are you paying currently yearly taxes and doesn't grow in case the business grows.

As you have mentioned interest rates I think they are pretty everywhere a joke right now but you have the possibility to open an Interactive Brokers account under the company name. With investing in passive index funds you can make ~8% yearly.

Regarding the freelancer Visa there are crazy horror stories from UK people got jailed from HMRC because of conducting all the business in personal name. Maybe Brasil have lack of enforcement compared to UK but keep this in mind.
 
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