European tax system: where to find the most favourable conditions
Every business owner knows how acute the issue of preserving earned capital and adequate taxation is. And often, the choice of the place of residence of the business is dictated by the peculiarities of a country’s tax system. In Europe, the conditions for paying taxes for business can vary significantly, even within one state, but at the same time, there are some top countries where some taxes are minimal and some are absent at all. Do you agree that registering a business in such a country is quite interesting? Let’s find together with Intel Ledger where it is most profitable to register a company in Europe.
First of all, you must live in the country of registration for a certain period of time. For Europe, on average, this is at least 180 days a year. However, there are also countries where you can become a tax resident as a Non-Habitual Resident.
- In Cyprus, you can become a tax resident in just 60 days, but only if you do not stay in any other country for more than 180 days per year.
- Malta also offers conditions for Non-Habitual Residents. If you do not reside in any other country for more than 180 days a year, you can become one and pay income tax on income from your business in other countries to the Treasury of Malta, 15%.
In general, Cyprus and Malta are today Europe’s tax havens. Here are the most favourable conditions for taxation, although not every business is suitable for registration in these states.
If you need to get tax advice in your country of residence to legally conduct your business but not at a loss due to too high tax rates, it is much better to use the services of professional tax consultants.
At Intel Ledger, we will not only be able to choose the ideal country for you from the point of view of taxation to start your business ideas, but also advise on how to register a business properly to avoid tax pressure, how to distribute income wisely so that taxes do not overeat their part, and how to interact with fiscal services to be on their good account.