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  1. #1
    FreeSpins is offline Public Member
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    Question Which country and in what form to register aff business abroad?

    Hi All,

    I would like to know your opinions on where and in what form it is best to register a business in relation to affiliate marketing - revenues from advertising of casinos, sportsbook, etc.

    - which countries in Europe accept promoting and advertising such stuff?
    - what is the best legal entity form for such activity (Limited? Sole proprietorship? Other?)
    - how to open and manage such company remotely (within the EU), eg. I reside in Slovakia and want to open an entity in Malta.
    - what are costs related to maintaining such company (one-time fee for set-up, and all monthly and annual fees)
    - do you know any affordable companies that can help with such things (company set-up, accounting, etc)

    If you have any other info or experience with such stuff, please share

    Thanks

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    UTG
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    Are you willing to relocate or are you planning to run your business from Slovakia?

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    It's difficult to answer such a question without knowing your situation.

    In general, I would say:

    - it depends on who you're targeting, but in general, I would see running an affiliate business is possible from almost every country within the EU.
    - usually a limited means less tax, but more administration and less flexibility. A sole trader construction means more flexibility, less administration, but usually more tax.
    - you should check the situation with a tax lawyer. If you're living in Slovakia and have just an entity in Malta, you're not having any substance in Malta. I have no clue about Slovakia, but many tax authorities won't accept it. Also, you should have a look if you're able to open a bank account for a Maltese company while not living there.
    - costs depend on what construction you need, who's advising you, etc.

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    Honestly - stay at home and go offshore with your business
    Would be legal in CZ (no CFC rules)! In SK probably not.

    Bulgaria and Romania are both good options. The Baltic countries too. Depends all on your goals.

    Malta is overrated and overpriced. And the 6/7 tax cashback brings you just in the next trouble. You need it to transfer is out of Malta. And after that you need to pay tax in the country of your residence. Incorporation cost you about 2-4k, accounting etc maybe 300-400 a month. Banks become paranoid.

    One cool option if you want to stay in the EU ... Relocate to Cyprus (for just 60 days a year). They have an ultra interesting Non-Dom scheme (Cyprus HNWI).

    My best advice, leave Europe. Go to Thailand. Nice country, great weather, friendly people, lots of fun and pretty good infrastructure.
    The best is the tax regime. You can be resident without paying any tax if you do not generate income in Thailand and the money which you transfer to Thailand for rent, living etc must be generated in the year before.

    Means, send yourself your complete (offshore company) income from 2017 in January 2018 and it will be completely tax-free and 100% compliant!

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    Quote Originally Posted by UTG View Post
    Are you willing to relocate or are you planning to run your business from Slovakia?
    No, I'm planning to run the business from Poland (already relocated). But, the problem is that the local government prohibit to advertise and get any benefits from promoting non-licensed sportsbooks and all casinos (national monopoly) - this includes any form of advertising, even targeted on foreign markets. Here's an excerpt from the legal act by Google translator

    1. It is forbidden to advertise and promote cylindrical games, card games, dice games, slot machine games and mutual bets. Advertisement of mutual wagering, on which the permission was granted, is allowed on the principles set out in art. 29b mutual advertising.
    2. It is prohibited to inform about sponsorship using the trade name and trademark used to offer cylindrical games, card games, dice games, mutual betting and slot machine games.
    3. It is allowed to inform about the sponsorship by the entity operating only in the scope of accepting mutual bets or this activity including other activity not subject to restrictions in terms of advertising, promotion or sponsorship information - only by presenting information containing the name or other sign of the individualizing sponsor.
    4. Prohibitions referred to in paragraph 1 and 2 relate to natural persons, legal persons and organizational units without legal personality, who commission or conduct activities referred to in para. 1 and 2, place an advertisement or information or benefit from such activities.
    5. The prohibitions set out in paragraph 1 and 2 do not include advertising and promotion carried out in a gaming or betting center, or the name of the entity or company logo or business name, outside the building, the place where the game center or betting point is located, and in the case of gambling organized via the Internet, advertising or promotion carried out on the website specified in the license used to host these games.

    and penalties:
    1. Whoever, contrary to the provisions of the Act, orders or conducts advertising or promotion of cylindrical games, card games, dice games, mutual betting or slot machine games, places an advertisement for such games or establishments or informs about sponsorship by an entity operating in the field of such games or bets,
    A fine is imposed on up to 720 daily rates.
    2. The same penalty applies to who benefits from the advertising or promotion of cylindrical games, card games, dice games, mutual betting or slot machine games ordered or run contrary to the provisions of the Act, placing advertisements contrary to the provisions of the Act or information about sponsorship by the entity operating in the field of such games or plants.
    3. In the case of lesser gravity, the perpetrator of a prohibited act specified in 1 or 2, is liable to a fine for the fiscal offense.



    Quote Originally Posted by Triple7 View Post
    It's difficult to answer such a question without knowing your situation.

    In general, I would say:

    - it depends on who you're targeting, but in general, I would see running an affiliate business is possible from almost every country within the EU.
    - usually a limited means less tax, but more administration and less flexibility. A sole trader construction means more flexibility, less administration, but usually more tax.
    - you should check the situation with a tax lawyer. If you're living in Slovakia and have just an entity in Malta, you're not having any substance in Malta. I have no clue about Slovakia, but many tax authorities won't accept it. Also, you should have a look if you're able to open a bank account for a Maltese company while not living there.
    - costs depend on what construction you need, who's advising you, etc.
    I'm thinking of opening a Limited Company in the Czech Republic (the so-called S.R.O.) and act as a sole shareholder. Also, I would like to be a Managing Director of the company with a monthly salary for management. Then, get money from the company via dividends after the year-end - and settle it in accordance with the Polish tax laws in respect double-taxation treaties.

    Quote Originally Posted by eenzoo View Post
    Honestly - stay at home and go offshore with your business
    Would be legal in CZ (no CFC rules)! In SK probably not.

    Bulgaria and Romania are both good options. The Baltic countries too. Depends all on your goals.

    Malta is overrated and overpriced. And the 6/7 tax cashback brings you just in the next trouble. You need it to transfer is out of Malta. And after that you need to pay tax in the country of your residence. Incorporation cost you about 2-4k, accounting etc maybe 300-400 a month. Banks become paranoid.

    One cool option if you want to stay in the EU ... Relocate to Cyprus (for just 60 days a year). They have an ultra interesting Non-Dom scheme (Cyprus HNWI).

    My best advice, leave Europe. Go to Thailand. Nice country, great weather, friendly people, lots of fun and pretty good infrastructure.
    The best is the tax regime. You can be resident without paying any tax if you do not generate income in Thailand and the money which you transfer to Thailand for rent, living etc must be generated in the year before.

    Means, send yourself your complete (offshore company) income from 2017 in January 2018 and it will be completely tax-free and 100% compliant!
    Please tell me more about CZ, if you have any experience with the local business and authorities..

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    I still own a sro ... the foundation is usually hassle-free. I recommend ordering a shelf company. Otherwise, you need to pay the share capital in full (about €6000). And I would stay outside of Prague which saves you some money too. Accounting is cheap. Tax rates are ok and you can deduct a lot (€470 sunglasses for a business meeting in sunny Spain ) Had never problems to get a bank account with a Czech sro. If you have a more specific question shoot me a line on Skype.

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  12. #7
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    Thanks for the super-fast reply I will consider it very seriously. Now, I'm digging to check if Polish resident (I will be soon) can do such business without any fiscal/tax issues. Btw, as an owner (director & sole shareholder) I can be considered as a person who earns money (indirectly) from illegal activities, and then all incomes can be voided and penalized

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    It's hard to say, there are several options available, depends mostly on your expected income. The affiliation would be your only source of income in Poland?

    If earnings are high enough you could setup offshore company in the tax-friendly jurisdiction like BVI + limited company in the UK. 95% of earnings from a limited company are transferred to an offshore company (you need to hire tax company that will handle all required paper staff) and you pay tax only in UK (less than 1%). You could be also hired as a company director and earn tax-free money up to 12,5k GBP a year (from 2019). Most important thing is tax residential for your company - but good tax advisor will handle it. I could recommend you one company that I'm using for my UK limited company.

    P.S I also live in Poland

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    Quote Originally Posted by eenzoo View Post
    Honestly - stay at home and go offshore with your business
    Would be legal in CZ (no CFC rules)! In SK probably not.
    While it is legal to move anywhere you want, you are in CZ definitely taxed based on where you really are controlling the company from. SK is still the closest country to CZ so it will not differ much. Yes, Czech authorities really investigate if they are after you. It is maybe a good bet to ignore them, but not long ago my friend-lawyer was solving a case where a guy had to prove he lived in Ukraine. They went so far that they checked license plates of his car. (The guy was in CZ, but managed to persuade them he was in UA.)
    We are all bloodsucking ticks, hungry, devious
    each one latched on to the ass of the previous
    when the last and the first latch on it can be shown
    ass-blood sucked by the first from the last is his own

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    Quote Originally Posted by mgaming View Post
    It's hard to say, there are several options available, depends mostly on your expected income. The affiliation would be your only source of income in Poland?

    If earnings are high enough you could setup offshore company in the tax-friendly jurisdiction like BVI + limited company in the UK. 95% of earnings from a limited company are transferred to an offshore company (you need to hire tax company that will handle all required paper staff) and you pay tax only in UK (less than 1%). You could be also hired as a company director and earn tax-free money up to 12,5k GBP a year (from 2019). Most important thing is tax residential for your company - but good tax advisor will handle it. I could recommend you one company that I'm using for my UK limited company.

    P.S I also live in Poland
    Yes, the only affiliation would be the source of income in Poland. Will consider this option as well. Btw, what's your monthly admin costs (accounting, domiciliary, staff, reporting)?


    Quote Originally Posted by Sherlock View Post
    While it is legal to move anywhere you want, you are in CZ definitely taxed based on where you really are controlling the company from. SK is still the closest country to CZ so it will not differ much. Yes, Czech authorities really investigate if they are after you. It is maybe a good bet to ignore them, but not long ago my friend-lawyer was solving a case where a guy had to prove he lived in Ukraine. They went so far that they checked license plates of his car. (The guy was in CZ, but managed to persuade them he was in UA.)
    The idea is to live and manage the company from Poland and pay Corporate Income Tax (CIT) in the Czech Republic. Then, I would act as a Managing Director and employee to get salary taxed in Poland (PIT), I guess?
    Last edited by FreeSpins; 7 November 2018 at 3:41 pm.

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    I see no problem with this approach. The Czechs will always like foreigners who want to pay some taxes I am sure about it. Problem would be if you were somehow connected to offshore. Both CZ and SK as you know have some autodeducting taxes (IDK exact expression) when sending money to tax paradises. But that is not your issue. If you will really live in Poland, I do not think you will have problems. Also bc you are not from CZ they will much less likely look if you really are in Poland over half a year. Making the sro is not a problem, my friend is selling readymades, but no problem to do it on your own, especially since you understand the language.

    If I were you I would go to Ukraine, but you probably want to stay in EU and more developed country with no hassles on borders (I have an impression you still want to spend a lot of time in Slovakia). Bulgaria has also lower tax than CZ, it should work there with Polish residency, but it is further and language is not fully understandable.
    We are all bloodsucking ticks, hungry, devious
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  20. #12
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    Yes, definitely want to live in EU for the time being. Thanks for heads up, I will check Bulgaria too
    If I had six-seven digits, I would go for Gibraltar
    Last edited by FreeSpins; 7 November 2018 at 6:01 pm.

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    And what about registering the business in Ireland or UK? Any pros - cons?

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    Agreed with Triple7 on this one. He makes many great points here in his post. As for registering the business in Ireland or the UK, I think that your pros and cons won’t really be too much more different than what has already been said here, other than the tax amounts that you will be charged will vary. Here’s a wiki link for you which lists a table which shows you a number of countries and the taxes that they charge their residents:


    https://en.m.wikipedia.org/wiki/List...s_by_tax_rates

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    Quote Originally Posted by FreeSpins View Post
    And what about registering the business in Ireland or UK? Any pros - cons?
    I gave up on UK because the banks would never treat me as a real business since I'm a non-resident.

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    I completely agree with eenzoo. Stay where you are and go offshore, but you need to check different tax rules. Regarding advertisement, it shouldn't be problem at all. It all depends where your hosting is, other than that no one is going even to know where your money is coming from. Casino or any other kind of marketing business.

    Also, it all depends how much do you earn and where you want to settle. Baltic states are good for that, but at the same time Cyprus is probably the best when it comes to weather, atmosphere and tax.

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    BULGARIA:

    There are several options that can be chosen as the most common of them are:

    • “Single person Limited Liability Company ” (EOOD) – an entity with one single owner with limited responsibility
    • “Private Limited Liability Company” (OOD)– owned by two or more partners with limited responsibility
    • “Sole Owner” (ET) – a simplified entity form which is appropriate for very small ventures (full owner’s responsibility)
    • “Freelance” – a personalized individual registration
    • “Public Limited Company” (AD) – joint stock company – a commercial company with share capital owned by its members
    • “Branch in Bulgaria” – Foreign legal entities registered abroad can register a branch in Bulgaria

    Under Bulgarian law there are no restrictions as to the size of the foreign participation in the capital of a Bulgarian company and, therefore, up to 100% of the registered capital of a local company can be held by foreign persons.

    The minimum capital to register a limited liability company in Bulgaria is 2 BGN (1 EUR), and it usually takes up to 2 weeks only to register the company.

    Lowest taxes in Europe


    • Corporation tax: 10% (the average corporation rax rate in Europe is 25%)
    • Personal income tax: 10% (the average personal income tax rate in Europe is 40%)
    • Dividendbelasting: 5% (0% when the European parent/subsidiary directive applies)

    Last edited by FreeSpins; 8 November 2018 at 5:46 am.

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    [QUOTE=FreeSpins;896360]Yes, the only affiliation would be the source of income in Poland. Will consider this option as well. Btw, what's your monthly admin costs (accounting, domiciliary, staff, reporting)?

    I don't spend more than 100 euro per month for all accounting related spendings. It all depends on number of invoices you have per month.


    Quote Originally Posted by DanHorvat View Post
    I gave up on UK because the banks would never treat me as a real business since I'm a non-resident.
    You should check Scotland as it's quite easy to open there bank account being non-resident. All benefits the same like in England, but a lot easier to setup bank account.

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    OK, cool

    Btw, do you know and can recommend any affordable company that deals with opening-registering-accounting-etc companies in the mentioned jurisdictions (UK, Bulgaria, Czech Republic, Scotland, etc.) ?

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    I could definitely recommend you one that I am using (offers company formation in the UK, Malta, Ireland and some offshore jurisdictions). Send me your email address via PM and I will introduce you to the Sales guy there.

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