Reduce taxes legally

reduce tax legally

Nowadays many businesses are faced with the question on how to reduce taxes legally and increase their overall profit. This follows up with other related points such as which countries are best suitable for their respective type of business based on various factors such as economic growth and stability, cost of labor force if required, double taxation treaties, privacy and so on.

It is not possible to summarize the best solution for your business in one article to reduce taxes legally; however, there are few key jurisdictions around the world where one can find the balance between the key important factors on deciding whether that specific country meets the requirements for your business. Following countries have gained a lot of traction in past for having low taxation, ease of setting up businesses abroad, privacy, etc.

Company formation Malta:

Malta has the one of the lowest corporate tax rates in the EU. So, it does not come as a surprise that one can set up a company in Malta in agreement with community laws which compromises a number of advantages that can be paralleled to those of offshore companies. These are the key advantages of a Malta Limited:

  • 5% Corporate tax effectively
  • Simple tax system
  • low registered capital required to set-up a company
  • High anonymity

In summary, Malta is an ideal location if you are a member of EU and would like to operate your business from within the EU.

Company formation Cyprus 

Cyprus has one of the lowest tax rates in EU at 12.5%. The island’s advantageous tax rate coupled with an extensive list of double tax treaties places it high on the list of preferred jurisdictions for international tax planners. These are the key advantages of a Cyprus Limited:

  • Legal taxation within the EU and double tax agreement with over 50 countries
  • High tax savings thanks to low corporation tax (2.5% or 12.5%)
  • Anonymity by trustees

Cyprus has become somewhat of a go to jurisdictions for many people from countries such as Russia, Germany, etc as it offers high levels of anonymity and ease of setting up business compared to other EU states.

Company formation Georgia

Company formation in Georgia represents an attractive investment environment for foreign companies. If all the requirements are fulfilled the, incorporation process takes a very short time. Aside the easy incorporation process, foreign investors will be glad to know that their companies will benefit from the same rules as the local companies.

  • 15% corporate income tax (One of the lowest between OECD members)
  • 100% foreign ownership and directorship allowed
  • No information exchange
  • Highly skilled and cost effective labor force
  • Remote bank account opening possible
  • Low startup and maintenance costs

We can guide you on how reduce taxes legally based on your requirements and various factors that will help you make the right decision when it comes to setting up your company abroad. For further information on what works for you best, please contact us here

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