Malta = 0 Foreign Income Tax
- Thread starter conjamuk
- Start date
Hong Kong foreign corp means 0% foreign income tax and 0% tax on employees (yourself) being there less than 60 days a year.
Philippines means 0% foreign income tax on non-citizen residents. Not to mention you an bribe anyone to do anything.
Philippines means 0% foreign income tax on non-citizen residents. Not to mention you an bribe anyone to do anything.
Malta is a licensing jurisdiction for online gambling. Many major operators hold licenses and have offices there and I've known several people over the years that have visited and lived there while working for gaming interests.
The consensus is that it's OK to be there for a few months, but it's generally boring as fuck after that. It's isolated, hot and humid in the summer, and the cuisine leaves a lot to be desired. They grow nothing there and everything has to be imported, so food is expensive. On top of that they have a deplorable hunting community that shoots and traps anything that flies or walks over the island, even birds of prey and many endangered species.
BBC NEWS | Europe | The fight against Malta's illegal bird hunt
BirdLife Malta
CABS claims 'total anarchy' of bird shooting around Safi - timesofmalta.com
About the best part of Malta is the ability to take an overnight ferry or short plane ride to Italy.
The consensus is that it's OK to be there for a few months, but it's generally boring as fuck after that. It's isolated, hot and humid in the summer, and the cuisine leaves a lot to be desired. They grow nothing there and everything has to be imported, so food is expensive. On top of that they have a deplorable hunting community that shoots and traps anything that flies or walks over the island, even birds of prey and many endangered species.
BBC NEWS | Europe | The fight against Malta's illegal bird hunt
BirdLife Malta
CABS claims 'total anarchy' of bird shooting around Safi - timesofmalta.com
About the best part of Malta is the ability to take an overnight ferry or short plane ride to Italy.
The wisest post of the thread.
Malta is EU, don't fuck with EU legislation anymore bros.
Do you remember Cyprus just 3/4 years ago? The heaven of taxes in the mediterranean sea and now is fucked like PIGS countries.
Foreign sourced income in Singapore is taxed at 0%. You can set up your company in Singapore and live in Thailand.
Maybe I'm getting old, but I remember at least a few excellent restaurants there. Granted, I think they were all Italian, but still. Some of the best pizza I've ever had in my life was in Malta.
You can tell Malta used to be colonized by England though, because you see loads of garbage food like sausage rolls and fish + chips all over the place. Then I can't remember, but do the Maltese even have their own cuisine? I remember they have Maltese sausage which they're very proud of, but can't remember any specific Maltese dishes. Maybe it is disgusting, hence why I don't remember it.
I liked the groceries part though. Go to the vegetable cart lady, who sometimes would say if you want broccoli come back in a few hours, because the farmer is dropping another load shortly. Then over to the baker for bread who makes it fresh everyday, and off to the butcher for fresh meat. Everything was always really fresh there.
Virtu Ferries Ltd. Malta
90 mins, and you're in Italy! Or 4 hours, and you're in Catania. Careful though, because she can be a rough ride.
And 5% corporation tax.
Reason why I'm creating a company there next month, and of course the hot exchange students, night life and it's overall a beautiful island
You guys should really do more research, it doesn't work this way.
Firmengrndung Malta Half way down you have a little graphic,it's in german.
Basically, it works like this:
1. EU corporation creates Malta Holding.
2. Malta Holding creates Malta corp.
3. Malta corp does business and gains 300k revenue anual.
4. Malta corp pays 35% tax ergo 105k in this case.
5. Malta refunds 6/7 of that tax back to the holding, in this case 90k.
6. Malta corp transfers rest revenue of 195k to Malta Holding.
7. Malta Holding transfers total revenue of 285k under the "EU-mother-daughter" corp law tax free to the corp outside malta.
8. voila, 5-6.43% effective tax rate.
Malta: company formation, taxes
"5% effektive corporate profit tax, if companies are owned by non-residents or by residents without domicile in Malta. There unique structure complies with "subject to tax" regulations of double tax treaties: companies pay a profit tax of 35% and the recipient of dividends receive 30% or 6/7."
"Limited tax liability for residents without domicile: for these residents, there is a tax only on their income from Malta or on income brought to Malta. Income created outside Malta that remains outside Malta is not subject to tax. For Maltese income, the tax rate is 15% and the minimum tax is about € 20000 per year. In current practice, a person who is born in Malta or has parents from Malta does not qualify as resident without domicile."
Inland Revenue Malta - Taxation of Foreign Companies Expatriate Employees
"The main principles on which the Maltese tax net is based are the following:
- income arising worldwide to persons who are ordinarily resident and domiciled in Malta is taxable in Malta, and
- income arising in Malta to any person is taxable in Malta."
Malta Tax Treaties & Income Tax Rates: Maltese Taxation: EMD Advocates
Malta Personal Taxation
Didn't know that about Philippines, will research that more.
Another solution is to incorporate in HK and take residency in Uruguay.
1. It's very easy and cheap to take residency in Uruguay.
2. Foreign worldwide income is tax free.
3. You can't go to jail for tax liabilities, ergo Uruguay does not export foreign citizen who face jail time for tax liabilities in their home countries ( this may come handy for some of you fuckers lol)
4. Bank secrecy is stricter then switzerland. Only a judge in a running trial can look into bank accounts.
5. 80% of the population is european descent, you will mix in fine.
6. Uruguay only requires you to touchdown once every 5 years to remain residency.
Uruguay is called the switzerland of south america, because of its stable political system and financial institutions. Definitely worth looking into.
Here's the thing though. It really doesn't matter if you incorporate in Hong Kong, Singapore or Malta. They'll all rat you out if the IRS or other tax agency asks them to. The only ones who won't do that are rapidly declining and currently is probably only a very few Caribean states like St. Nevis and Kitts.
So, if you're doing something illegal, consider incorporating there, then owning a couple dozen other offshore corps in a line to hide who actually owns anything.
But if you're not laundering drug money, then take up residence in a country which doesn't tax offshore income. San Marino, Phillipines, Thailand (yes, offshore older than 1 year is tax free), Hong Kong. Anywhere basically. If you're EU based, you can probably spend half a year in your own country without becoming tax liable, provided you're not married with family there. The thing is, you need to pay tax somewhere or your own tax agency is not going to let go of you. So you officially move to a nice hot place like the Phils (or Thailand after one year), then sign up for frequent flyer miles and go back every other month or so. Log in to your shit on a VPS because answering business mails will make you liable for tax.
That's how it's done. Once your nest egg grows, you get your account to set up a trust in the Seychelles or Cayman (depends if your morality allows you to do business with muslims, choose the latter if not). Make that trust own a few properties in places you'd consider to retire. That'll be your retirement fund. Write into the fund that it will pay 'suitable living expenses for a comfortable life' to you, your family and eventual descendants. Hire your best friend to be the chairman.
Do it this way and the commies will have a very hard time going down the rabbit hole.
It's not difficult, it's not even expensive, but you will have to move to another country to do it legally. Though if you move somewhere like Malta, you can easily travel within the EU.
So, if you're doing something illegal, consider incorporating there, then owning a couple dozen other offshore corps in a line to hide who actually owns anything.
But if you're not laundering drug money, then take up residence in a country which doesn't tax offshore income. San Marino, Phillipines, Thailand (yes, offshore older than 1 year is tax free), Hong Kong. Anywhere basically. If you're EU based, you can probably spend half a year in your own country without becoming tax liable, provided you're not married with family there. The thing is, you need to pay tax somewhere or your own tax agency is not going to let go of you. So you officially move to a nice hot place like the Phils (or Thailand after one year), then sign up for frequent flyer miles and go back every other month or so. Log in to your shit on a VPS because answering business mails will make you liable for tax.
That's how it's done. Once your nest egg grows, you get your account to set up a trust in the Seychelles or Cayman (depends if your morality allows you to do business with muslims, choose the latter if not). Make that trust own a few properties in places you'd consider to retire. That'll be your retirement fund. Write into the fund that it will pay 'suitable living expenses for a comfortable life' to you, your family and eventual descendants. Hire your best friend to be the chairman.
Do it this way and the commies will have a very hard time going down the rabbit hole.
It's not difficult, it's not even expensive, but you will have to move to another country to do it legally. Though if you move somewhere like Malta, you can easily travel within the EU.