Hi OffshoreCorpTalk friends,
Freelance software dev here. I'm looking into leaving my home country to find a place (where I’m treated best) for relocation or travel around as a digital nomad. My gross monthly income fluctuates but on average it's around USD 4k (it's enough for me as I'm frugal and a minimalist), though it can range between USD 0-12k.
To that end here are my considerations for where to open up an LLC or LTD as an agency for my work:
1. Minimal taxes for dividends, or salary by hiring myself, as well as investments with company funds (just looking to dump unused funds into real estate, stocks, crypto, etc.). E.g. I'm currently paying 25-50% and I'd like to get that down to preferably no more than 10% if possible.
2. Minimal or no residence requirements (e.g. UAE's 6 month abroad limit feels like too strict of a requirement).
3. Minimal upkeep bureaucracy (e.g. I like to be left alone. I don't like dealing with accountants, lawyers, govt. agents. I'm just a simple, boring, uninteresting remote worker).
4. Minimal upkeep costs (e.g. I'm currently paying an accountant around USD 4k a year because my govt obligates me even though I only have a handful of operations every other month). I don't mind paying for an accountant if it's necessary, but given my turnover I feel like my govt is just screwing me over.
The suggestions I've seen so far (some here some elsewhere) listed the following countries for opening a company in:
1. Romania
2. Bulgaria (bureaucracy issues?)
3. UAE (residency issues?)
4. UK
5. Georgia (banking issues?)
6. Estonia (banking issues?)
7. Cyprus
8. Other?
So far I’m leaning toward Romania as it seems to tick off most of my boxes. But I’m unsure about the residency aspect.
There’s a lot of difficult to comprehend information, and I’ve spent a plethora of time researching and I’m still confused. Hoping to hear back from others more experienced than me who can pitch in.
Thank you.
Freelance software dev here. I'm looking into leaving my home country to find a place (where I’m treated best) for relocation or travel around as a digital nomad. My gross monthly income fluctuates but on average it's around USD 4k (it's enough for me as I'm frugal and a minimalist), though it can range between USD 0-12k.
To that end here are my considerations for where to open up an LLC or LTD as an agency for my work:
1. Minimal taxes for dividends, or salary by hiring myself, as well as investments with company funds (just looking to dump unused funds into real estate, stocks, crypto, etc.). E.g. I'm currently paying 25-50% and I'd like to get that down to preferably no more than 10% if possible.
2. Minimal or no residence requirements (e.g. UAE's 6 month abroad limit feels like too strict of a requirement).
3. Minimal upkeep bureaucracy (e.g. I like to be left alone. I don't like dealing with accountants, lawyers, govt. agents. I'm just a simple, boring, uninteresting remote worker).
4. Minimal upkeep costs (e.g. I'm currently paying an accountant around USD 4k a year because my govt obligates me even though I only have a handful of operations every other month). I don't mind paying for an accountant if it's necessary, but given my turnover I feel like my govt is just screwing me over.
The suggestions I've seen so far (some here some elsewhere) listed the following countries for opening a company in:
1. Romania
2. Bulgaria (bureaucracy issues?)
3. UAE (residency issues?)
4. UK
5. Georgia (banking issues?)
6. Estonia (banking issues?)
7. Cyprus
8. Other?
So far I’m leaning toward Romania as it seems to tick off most of my boxes. But I’m unsure about the residency aspect.
There’s a lot of difficult to comprehend information, and I’ve spent a plethora of time researching and I’m still confused. Hoping to hear back from others more experienced than me who can pitch in.
Thank you.
