SMMA best 0 tax country.

[pythez]

Hey everyone,
I am from belgium and want to start an smma to help beauty salons get clients. What would be the best place to incorporate for this? Would prefer to have clients both in the US and EU. What would be a great place? payment processors for automatic monthly billing are prefered? Some place that can be done completely online would be preffered. Budget (2K MAX). How would i do payments optimally?

 

[Sols]

If you live in Belgium, the easiest option is to just form a Belgian company. Focus on growing your business.

If you form a foreign company, things get complicated and you end up doubling a lot of the paperwork you have to do (not to mention taxes become difficult).

Assuming you hold EU citizenship, you can always move to Malta or Cyprus and start the business there. Then you can legally lower your tax burden. But it would cost more than 2,000 in total with the flights, new place to live, incorporation costs, and so on.

 

[Don]

Hey everyone,
I am from belgium and want to start an smma to help beauty salons get clients. What would be the best place to incorporate for this? Would prefer to have clients both in the US and EU. What would be a great place? payment processors for automatic monthly billing are prefered? Some place that can be done completely online would be preffered. Budget (2K MAX). How would i do payments optimally?

The jurisdiction with one of the lowest costs to start and manage a business in the EU is Estonia. You can handle everything digitally and the tax is 0% until you distribute income. Estonia is not the best tax-wise if you will be paying yourself most of your income as salary and dividends from the get-go, but if you are able to grow the company to the point where you have a budget to establish more companies in different jurisdictions you can reduce the effective tax rate to as little as 1-5%.

If you relocate & establish your tax residency in Estonia for this budget you can register the company, open a bank account and possibly cover 1-year accounting costs assuming you will be managing the business yourself and don't need to hire a local director.

 

[pythez]

If you live in Belgium, the easiest option is to just form a Belgian company. Focus on growing your business.

If you form a foreign company, things get complicated and you end up doubling a lot of the paperwork you have to do (not to mention taxes become difficult).

Assuming you hold EU citizenship, you can always move to Malta or Cyprus and start the business there. Then you can legally lower your tax burden. But it would cost more than 2,000 in total with the flights, new place to live, incorporation costs, and so on.

The jurisdiction with one of the lowest costs to start and manage a business in the EU is Estonia. You can handle everything digitally and the tax is 0% until you distribute income. Estonia is not the best tax-wise if you will be paying yourself most of your income as salary and dividends from the get-go, but if you are able to grow the company to the point where you have a budget to establish more companies in different jurisdictions you can reduce the effective tax rate to as little as 1-5%.

If you relocate & establish your tax residency in Estonia for this budget you can register the company, open a bank account and possibly cover 1-year accounting costs assuming you will be managing the business yourself and don't need to hire a local director.

Hey there guys, i thought about it and wouldnt starting in belgium as a sole entrepreneur (50% tax) and than once i pay like 3k a month in taxes i can move to dubai and setup a business there. Would not take the expensive places to stay once i got everything set up.

 

[NicolasMaduro]

Sorry but its not the 2000s anymore. You incorporate in the country you live in untill you make 1mil usd a year and can move it to Dubai/UAE

Sorry to break your dreams

M

 

[Don]

Hey there guys, i thought about it and wouldnt starting in belgium as a sole entrepreneur (50% tax) and than once i pay like 3k a month in taxes i can move to dubai and setup a business there. Would not take the expensive places to stay once i got everything set up.

You need to relocate if you want to pay less.

 

[benbao]

Sorry but its not the 2000s anymore. You incorporate in the country you live in untill you make 1mil usd a year and can move it to Dubai/UAE

Sorry to break your dreams

M

You may move to any country you want to at any income granted that you can legally and want to. Your 1 million is a arbitrary number, the point where it makes sense to move is highly subjective to everyones personal circumstances.

 

[bountymounty]

The jurisdiction with one of the lowest costs to start and manage a business in the EU is Estonia.

Is it cheaper than a UK LTD I don't think so?!?

 

[Don]

Is it cheaper than a UK LTD I don't think so?!?

The UK is not the EU, but it's indeed a popular option.
I would check also Bulgaria or Romania.

 

[bountymounty]

I do know it is not EU any longer but still it is awesome and it works with all European and EU processors.

 

[Mr Gus]

Hey there guys, i thought about it and wouldnt starting in belgium as a sole entrepreneur (50% tax) and than once i pay like 3k a month in taxes i can move to dubai and setup a business there. Would not take the expensive places to stay once i got everything set up.

If you pay 50% effective tax making 3K a month you are just dumb, with such a low amount of income there are plenty of ways to lower it.. And I can't imagine you pay 50% tax on 3K off income as a sole entrepreneur to begin with but okay..

Moving to Dubai when you make 3K a month also makes zero to no sense to me.. Setup cost is probably already 10K with and yearly costs to maintain the company. When you make 300K or less a year I don't see the point of moving to Dubai for a financial point of view.