@levelsio What’s the best way for a young entrepreneur with 0 dependents and location freedom to pay minimal tax in your opinion? I am looking at this rn and I do not want to pay tax to UK (~50%)

@robj3d3 You have to permanently leave your home country forever, cut all ties

@levelsio And go where? I looked at Guernsey which has 20% fixed rate, but really don’t wanna spend 3 months a year on a shitty little island Dubai feels too artificial I don’t wanna live there You send all your money through Singapore no?

@robj3d3 @levelsio isn't the UK tax pretty decent for companies? what most ppl do in NL for example is keep money in companies not personal

@forgebitz @levelsio No corporate tax is 25% and personal income tax goes up to 45%

@robj3d3 @levelsio Couple of closer options people don’t always consider. Czechia - in EU - 15-23% Georgia - near Europe - territorial tax no visa for British citizens for 1 year - easy reset.

@robj3d3 @levelsio I’m paying 47% marginal tax rate in London. This feels like a complete money pit. The quality of most services is mediocre at best, and I have to pay extra for literally everything. One of the most disappointing things about the UK in general.

@robj3d3 @levelsio Paraguay. Zero tax on foreign income and you don't have to spend months there. The only rule is you cannot spend more than 183 days in another single country.

@robj3d3 @levelsio Leave you country and set fiscal residency in a low tax country, one extreme is Paraguay, zero tax. But you cannot live more than a year in any country

@robj3d3 @levelsio Dubai pretty good option. Cost you maybe £1000 to setup the company and around £1300 for two year visa. Loads of options for us brits

@robj3d3 @levelsio An option is to first hold money in some 0-tax structure, e.g. US foreign owned disregarded entity company. But you pay tax when you take it out, so sooner or later you need to move.

@robj3d3 @levelsio The UK is pretty bad with taxes. I didn't have a business there but I assume it's probably worse than just being an employee.

@robj3d3 @levelsio Uk PPL can go to dubai or something and pay no tax. Research more about it

@robj3d3 @levelsio Go to Georgia, open a business there. 1% tax for small businesses (up to ~$150k/yr). You don’t have to live there.

@robj3d3 @levelsio Go to Paraguay, 0% if you don’t live there during the year, 10% if you do. It doesn't have a double taxation treaty with the UK, but you shouldn't need it if you leave clean and don’t come back. Ps: you only need to visit paraguay once in a year and after 2, every 5 years.

@robj3d3 @levelsio Paraguay is the best residency in the world for nomads

@robj3d3 @levelsio Look into Paraguay

@robj3d3 @levelsio Georgia can be an interesting country depending on your setup.