51–60 of 97 posts
Taxes pay for society: education, healthcare, infrastructure, defence, culture. You benefit from these, and expect to benefit in the future from them (e.g. expecting to employ someone with a good education). You should pay your share.
One picks the size of one's share when making a choice like the OP.
(Love the username in the context of your pay-yer-share non sequitor).
Taxes pay for society: education, healthcare, infrastructure, defence, culture. You benefit from these, and expect to benefit in the future from them (e.g. expecting to employ someone with a good education). You should pay your share.
Nowhere does the OP suggest that a jurisdiction with easy tax evasion possibilities is of interest. One picks the size of one's share when making a choice like the OP. (Love the username in the context of your pay-yer-share non sequitor).
My 2 cent: Pay your taxes to support the infrastructure, services and development in the region you actually use most in your life activities.
Other jurisdictions (Cyprus, UAE) will get you much better banking systems, much cheaper professional services (which also goes to cost of doing business, dont just get stuck on taxes) but maybe weirder regulations and tougher treatment from investors/partners.
My advice: focus on where your customers and partners are. If that's the US, keep using Delaware, the extra risk is worth it. If they are all over the place, find what the 'good' jurisdictions are for larger businesses near where you live and spend your time/money. Eventually you will need to use your money; piggy back off the research of others.
Taxes pay for society: education, healthcare, infrastructure, defence, culture. You benefit from these, and expect to benefit in the future from them (e.g. expecting to employ someone with a good education). You should pay your share.
While I agree in spirit, there are only a few countries in the world where I'd be comfortable paying taxes and trust that the money won't be embezzled: Basically the Nordics and Switzerland. Maybe also Germany.
Do you hold charities to the same standard?
I'd rather pay tax and have 50% of it be used inefficiently and have theoretical influence in how it's spent
Taxes pay for society: education, healthcare, infrastructure, defence, culture. You benefit from these, and expect to benefit in the future from them (e.g. expecting to employ someone with a good education). You should pay your share.
While I agree in spirit, there are only a few countries in the world where I'd be comfortable paying taxes and trust that the money won't be embezzled: Basically the Nordics and Switzerland. Maybe also Germany.
Ah Germany, world famous for low company taxes, high government efficiency, great use of your taxes, low bureaucracy and start-up friendliness.
Consider UAE freezone. Setup is not cheap, but corp tax 0% (9% after 1M revenue), personal tax 0%. I welcome differing opinions
Earlier quoted context omitted.
License cost is about ~4k per year Total initial costs could be about 10-15k Yes I agree those fees are actually a hidden tax, but it totally depends on your revenue, at some point you can save a lot on corporate and personal taxes.
Don't you still have to pay taxes in your country of citizenship?
Earlier quoted context omitted.
While I agree in spirit, there are only a few countries in the world where I'd be comfortable paying taxes and trust that the money won't be embezzled: Basically the Nordics and Switzerland. Maybe also Germany.
>Maybe also Germany. Ah Germany, world famous for low company taxes, high government efficiency, great use of your taxes, low bureaucracy and start-up friendliness.
It's world famous for a lot of other things like good public transportation, good parental leaves, good social security, good unemployment benefits, good health care system, &c.
Of course to use tax money you need to collect tax money...
Most countries have lower taxes than Germany but most countries have worse living conditions. All the people like OP are quick to go back to their tax heavy hell homecountries as soon as they need anything other than sun and cheap cocktails
If Germany was so bad it wouldn't be in the top 5 countries with the most immigrants per capita
- Corporate tax and personal taxes interact in non-trivial ways. US LLCs with a single owner/partner are generally considered pass-through entities, which makes them somewhat special compared to the other options. That is bad if you live in a high-tax country, but can be great if you live in a low-tax country
- If things go well, "source of funds" can become an issue. Let's say you made $2m and want to buy a house somewhere. You might have to provide proof of where that money came from. This is where it might be useful to clearly have live somewhere (as opposed to claiming "I'm a nomad and I lived nowhere"). Apparently, there's a market for Dubai "residences" (utilities bills) because of that... So it can be helpful to have paid some low taxes rather than no taxes at all. I don't fully understand yet how corporate taxes might help in this one.
- If you can't provide proof that you lived in country X or ideally paid some taxes, there is a risk that either your home country or the country you want to buy property in start claiming taxes.
- Beware of some countries, e.g. Germany, who might retroactively claim taxes if you have ever lived there during the time the business existed. They might want to tax you based on unrealized gains...
- I also looked into Malta, but it sounds rather complex unless you actually live there
An additional benefit of US LLCs is that they are somewhat anonymous, especially in New Mexico and partially in Wyoming.
I have previously founded companies in Germany, definitely not recommended. In particular, un-registering companies is a very slow and expensive process, easily taking 18 months. US LLCs via e.g. startglobal cost only around USD 1,300 to start, supposedly.