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  1. #21
    Matevzus is offline Public Member
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    This is always the issue I run into. Finding someone "reputable" and "good". Very difficult to discern this as a layman with no expertise in the field/country one is researching.
    If you have a good local lawyer he should be able to recommend you some of his foreign colleagues and also tax advisors. They are usually connected in international groups/ alliances. Try to find someone with a track record in this industry or similar - search the news for prior cases etc.

  2. #22
    Matevzus is offline Public Member
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    But best really is to avoid paying taxes at all. No income=no taxes=no problems.
    This is my first choice. However, I see a gap between making just enough money to not risk prison (violation) and making enough money to be worth residing in another country.

    So, either I keep it under this threshold or if I want to grow it I need a company (as it seems, foreign). Is Malta a viable option?

    Problem is whois privacy. Better is to change domain and redirect if it was already revealed to public. Fake whois is not a problem so far. Domain privacy is not perfect, registries can always change some rules, domain registrar CS are low paid idiots who tell everything to everybody.
    If I understand correctly, authorities can get information about domain owner even if it's Whois protected from the start?

  3. #23
    FSB
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    If I understand correctly, authorities can get information about domain owner even if it's Whois protected from the start?
    Yes, they can, but it could be very difficult for them, especially if you register your domain out of EU. The Police or court should have very strong documents and get access to such information. For example, if your local authorities will ask Google for access to your Gmail account, they will bounce off the wall.

    To further reduce the risk in your home country, try to GEO-blocking for your country, which will give another layer of protection, since the local authorities will have nothing to do, if your website is blocked.


    When it comes to opening a company in other, more friendly, country, it's still a better option than living all the life undercover. The solution might be opening an entity in Bulgaria (the cheapest gambling friendly jurisdiction in EU) and relocating there. Or, living in your home country (without any signs of permanent residence there, eg. closing all local bank accounts, not having any real estates, etc) and managing the company remotely.

  4. #24
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    Sorry but you are naive. As I said, I have firsthand info.
    Friend of guy who works for me is a domain registrar. Btw. one of the safe ones, who accept bitcoin, who really does not like authorities. Common practice is that they give any police whichever info they want. Not just the real holder of domain, but also payment details etc. I can assure you the police has not "very strong documents". They just ask. 99% of people tell to police anything the police wants to know. Almost nobody in real world is thinking whether he must tell the info. They know if they tell the police what they want to know, the case is over, they can finish their coffee and no harm happened to them.

    When I started with online business I was investigated by high rank officer because I admit I was idiot and registered a TM domain of one lottery monopoly. Funny thing is that the investigation was civil and not criminal, but still police was doing it, because...ummm.. welcome to real world guys! And they had so much, so much info they should not have...

    If something is really scary, it is not the behavior of police or state. They abuse the power as always. But people who refuse to see the reality are far more scary.
    We are all bloodsucking ticks, hungry, devious
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  6. #25
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    Quote Originally Posted by Matevzus View Post
    If you have a good local lawyer he should be able to recommend you some of his foreign colleagues and also tax advisors. They are usually connected in international groups/ alliances. Try to find someone with a track record in this industry or similar - search the news for prior cases etc.
    Very good lawyer I know just honestly recommended me a scammer, top lawyer in another country. The original lawyer was surprised, but even those rings of trust are not bulletproof. It is our perception of life that we want to be part of something safe. In fact, everywhere are sharks, who want your money. All the people are same as we are Lawyers do even better job than we do.

    Let's be frank, we are talking about borderline tax fraud/tax evasion. Do you think lawyers and accountants will risk this for couple of thousands that is max that small affiliate is willing to pay? I do not think so.

    As one banker said, the times of tax magic are gone. Everyone has to pay taxes.

    So I agree with your other statement. If you want to avoid taxes, either be so small to stay under the radar (still nobody is looking at Skrill and such right.., you can spend most of money directly from the prepaid card; with bitcoin you can also try to get money through exchanges and if something bad happens you can claim you listened to some Sherlock and bought early) or be big and move out. If you move out and later come back, you can always claim you made the billions you keep spending at Cayman Isles. Unless you live in the land of free.

    Idk for what all the people are waiting. The taxes will just go up, there will be even property taxes in 1st world. It is clear situation will get worse and worse. Just move out if you made some money. Not to fckin Malta, which will have soon problems, because it is a ticking timebomb. It is an ugly rock where it literally takes as much time to move from one side to another (30km) as to travel by train through Japan.
    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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  8. #26
    FSB
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    This fits here very well:

    Our new Constitution is now established, and has an appearance that promises permanency; but in this world, nothing can be said to be certain, except death and taxes
    ~ Benjamin Franklin


    However, smart people do pay "zero" taxes, and we aspire to be one of them.

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  10. #27
    Matevzus is offline Public Member
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    To further reduce the risk in your home country, try to GEO-blocking for your country, which will give another layer of protection, since the local authorities will have nothing to do, if your website is blocked.
    This is not possible since I am targeting my own country

    I am thinking to redirect the domain as per sherlock advise. For instance, if I buy a domain with EN name and set up subdirectory so that looks like like a foreign website with a translation and maybe use fake whois - will consider this as an option

    When it comes to opening a company in other, more friendly, country, it's still a better option than living all the life undercover. The solution might be opening an entity in Bulgaria (the cheapest gambling friendly jurisdiction in EU) and relocating there. Or, living in your home country (without any signs of permanent residence there, eg. closing all local bank accounts, not having any real estates, etc) and managing the company remotely.
    Maybe a solution for some but unfortunately not for me. I have some health issues so I can't relocate since I have insurance covered here. I am looking for a way to do this legally from where I am and I don't even mind paying taxes here.

  11. #28
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    All the 1st-world solutions are not only too pricy but the administration efforts are quite too big.
    Why the hell to found a Maltese company for €5k plus 300/400 accountant fees each month, filling accounts, audits ...
    And at the end of the year, you still have to pay taxes. Ofc maybe 5% only (if all going fine with your refund).
    But what to do with that refund?
    Wire the money to your personal account? Congratulations, you have cut your corporation tax just to pay more personal income taxes?!
    Setup a Maltese trading-holding structure to keep the money on Malta? The wet dream of every MT corporate service provider.
    Last resort is an offshore account ... the best idea ever but why the Malta nonsense upfront?!

    I see one reason only to establish "legal" and taxable companies - if you want to raise money from investors.

    For all the other, if you want to stay "home" just pay taxes. Just save all the efforts, the time and money eating tries to avoid taxes. Work harder to compensate. All that CZ, BG, Romania, Ireland, CY options making service companies rich without to be a REAL solution. And I don't trust them.

    If you want to be REAL (income) tax-free you have to go further. Actually, it's easy.
    #1 The easy part: Setup an offshore company that fits your needs (Nevis, Belize, Costa Rica, BVI) - without disclosed members/directors in public registers, without bookkeeping (ofc you should do by yourself), without audited accounts etc.

    #2 The hardest part: Get a 1st world bank account for a zero-tax offshore company. it works but it can cost some money. In the worst case, Borderless, Paysera, N26, Revolute etc are fine too.

    #3 The impotant part: grab your wife, your kids, the dog, and some shorts and move to a country with a territorial-based taxation system (eg. Thailand). Don`t produce income there and stay min. 186 days a year there. Congratulations, you are 100% income tax-free.

    Just a final word to CZ ... my personal, fully biased advice: Forget it. For many reasons Sherlock has mentioned and some more. I spend 3 yrs there and the only positive what I can say about CZ, you can find a gorgeous wife

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  13. #29
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    And what is the reason for all this?

    You know, the right question would be "will a Bulgarian bank finance my new Mercedes if I run my business through a Bulgarian company?". And you didn't ask that, so it's likely either a bad case of vanity or a bad case of wanting to be clean and play by the book.

    Companies pay taxes in order to be an entity that can then pull much more money into the company through financing and investments. Not just to pay tax and get nothing. You at least need access to a good credit card. If you can't even get that, and you're jumping through tax hoops, then you're doing it wrong.

    In any case, going to Eastern Europe to do business is an absolutely insane move. When the Bulgarian/Czech tax authorities put your balls in a vice and start squeezing, can you afford to go to court to defend yourself on a short notice? Do you know where the court is? Do you have a lawyer you can call? Do you speak the language? Do you follow the regulation changes closely?

    If you aren't capable of winning a court case in Prague against Czech tax authorities, don't even step foot into Eastern Europe.

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  15. #30
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    Quote Originally Posted by FSB View Post
    Or, living in your home country (without any signs of permanent residence there, eg. closing all local bank accounts, not having any real estates, etc) and managing the company remotely.
    it is quite difficult to not leave any trace of permanent residence, perhaps impossible even if you're having a family.

  16. #31
    FSB
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    Yet another good solution for adventurers: The life of a perpetual tourist: never pay taxes again!

    If you live by the philosophy of the Perpetual Traveller, without spending more than four months anywhere (and without applying for residence in that country), you can live a tax-free life, completely free.

    Once you’ve managed to deregister as a tax resident in your country and don’t have any ties there, you’ll have overcome all the obstacles preventing you from leading a tax-free life.

    You now have to make sure not to breach the 183 day rule or make your ex-country the centre of your interests, whether economic (i.e. the origin of the majority of your income) or personal (i.e. your partner and children).

    To enjoy perpetual tourist “status”, you have to live with a tourist visa in other countries, without exceeding the maximum six-month stay. Bear in mind that most countries use similar regulations to the 183-day rule.

    This way of life has a few disadvantages:


    Tourist visa: since tourist visas aren’t valid for more than 6 months, you have to move around fairly often.
    Bank accounts: without a fixed residence, opening an account can be difficult or even impossible, since you have to present certain documents (such as energy bills) that you may not have. It could be a good idea to acquire a bank account before starting your nomadic lifestyle (and inform your branch that you’ll be travelling for a few years).
    Companies: registering a company without a fixed residence can be problematic in some countries. The best option is to set up your company before losing your residence (make sure to choose a country with favorable legislation).
    Official documents: to request official documents such as passports, you have to sign up to the Consular Register.
    Physical address: not having a physical address can be a problem in certain cases. The easiest alternative is to use the address of a friend or family member.
    Insurance: You should get your hands on international health insurance.
    Last edited by FSB; 5 February 2019 at 12:49 pm.

  17. #32
    Sherlock's Avatar
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    Quote Originally Posted by FSB View Post
    This fits here very well:

    Our new Constitution is now established, and has an appearance that promises permanency; but in this world, nothing can be said to be certain, except death and taxes
    ~ Benjamin Franklin


    However, smart people do pay "zero" taxes, and we aspire to be one of them.
    Nobody pays zero taxes. You do not usually avoid consumption taxes (I claim back VAT from EU as foreign resident, ok...), property taxes and other fees. On the top I pay a lot of taxes in each country where I get players from. The tax deductions from rev share are huge. At least part of those deductions are not scams, but are real taxes (like at bet365).

    The fact that I do not see the money does not mean I do not pay taxes.

    If you live by the philosophy of the Perpetual Traveller, without spending more than four months anywhere (and without applying for residence in that country), you can live a tax-free life, completely free.
    This is a mindporn of many people. I am maybe the only real perpetual traveller on this planet. And I pay a lot of taxes. I can assure you that this life is not for many. I live this life now not primarily for tax reasons, but for other reasons. But working at hotels, regardless how luxurious they sometimes are, is challenging.

    What I feel is that you want a free dinner. There is no such thing as free dinners. If you do not want to pay taxes and I understand that nobody wants to give up the hard earned money and support state mafias, then either prepare for life with a lot of insecurities, much tougher life than middle-class has (and then 99% of people will ask, why should I work so hard and get much less from that?); or prepare to be in constant stress, because you will be cheating blatantly. It is your choice. I am agnostic, everyone is responsible for himself. Do whatever you like. Life is an experiment. There is no need to hear the propaganda that you have to be a good citizen and taxpayer. Indeed. But please do not tell me how great win-win is to be perpetual traveller. Most people I know are not able even to take care of my cats in Brazil for several weeks without disaster and they have literally everything set up.
    Last edited by Sherlock; 6 February 2019 at 3:42 am.
    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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  19. #33
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    Hi, in Bulgaria the tax of profit is one of the smallest in EU - 10%, so you can benefits this, but if you want to open a acompany, i advice you to hire bulgarian speaker to make all documents for you. Also, as i know you must has an address here, that will be your office.

  20. #34
    FSB
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    Can anyone recommend some good people who are involved in setting up companies and consulting in the field of e-gambling in Europe (eg Bulgaria, Cyprus).

  21. #35
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    The Czech Republic as your new business is obvious to many. Located in the center of Europe, the Czech Republic enjoys a rock-solid economy and a brimming talent pool from which businesses can hire.

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