3 ms·

Unfortunately, being incorporated in Malta just screams "shady business" - at least here in Slovenia where such companies belonging to questionable characters a

by nimbix 11y ago

Unfortunately, being incorporated in Malta just screams "shady business" - at least here in Slovenia where such companies belonging to questionable characters are constantly in the news.

tzaman 11y ago
I wasn't aware of that. Not Malta at least. Cyprus definitely :)
- kyriakos 11y ago
  lots of legit startups incorporated in Cyprus
  - aharonovich 11y ago
    Interesting!
lazyjones 11y ago
Hopefully that'll pass some day. It's the same in Austria, however recently there's been new legislation for LLC companies with very low starting capital almost all over Europe, so you can have shady-looking businesses anywhere (e.g. 1-Euro-LLC in Germany).
- phillc73 11y ago
  Do you have some more information about that, specifically in the Austrian context? I'm currently living in Austria, but operating out of my UK Ltd company. While it does work, there are a few pain points around banking, currency exchange and my residency in Austria (am I exercising my EU rights, living in Austria but still officially consulting for and being paid by a UK Ltd company?). It would make my life a bit easier to have an Austrian based company, but the amount of share capital required to setup a GmbH is quite high.
  - lazyjones 11y ago
    In Austria there were some initiatives to introduce a cheaper Ltd, called "GmbH light", but this was changed again. Currently there's a way to pay EUR 5000 immediately and EUR 17500 (total) share capital after 10 years ("Gründungsprivilegierte GmbH" - http://www.wirtschaftsanwaelte.at/gmbh-light-durch-die-gmbh-gruendungsprivilegiert-ersetzt/ http://www.wirtschaftsanwaelte.at/gmbh-light-durch-die-gmbh-...) , but in your situation I'd be looking at setting up a german Ltd to get rid of some of the problems at least: http://www.ug-ltd.de/limited.html http://www.ug-ltd.de/limited.html
emailgregn 11y ago
It's interesting to hear that having recently experienced the wholehearted enforcement of KYC rules and general efforts avoid/shed that reputation.

by nimbix 11y ago

Unfortunately, being incorporated in Malta just screams "shady business" - at least here in Slovenia where such companies belonging to questionable characters are constantly in the news.

tzaman 11y ago

I wasn't aware of that. Not Malta at least. Cyprus definitely :)

kyriakos 11y ago
lots of legit startups incorporated in Cyprus
- aharonovich 11y ago
  Interesting!

lazyjones 11y ago

Hopefully that'll pass some day. It's the same in Austria, however recently there's been new legislation for LLC companies with very low starting capital almost all over Europe, so you can have shady-looking businesses anywhere (e.g. 1-Euro-LLC in Germany).

phillc73 11y ago
Do you have some more information about that, specifically in the Austrian context? I'm currently living in Austria, but operating out of my UK Ltd company. While it does work, there are a few pain points around banking, currency exchange and my residency in Austria (am I exercising my EU rights, living in Austria but still officially consulting for and being paid by a UK Ltd company?). It would make my life a bit easier to have an Austrian based company, but the amount of share capital required to setup a GmbH is quite high.
- lazyjones 11y ago
  In Austria there were some initiatives to introduce a cheaper Ltd, called "GmbH light", but this was changed again. Currently there's a way to pay EUR 5000 immediately and EUR 17500 (total) share capital after 10 years ("Gründungsprivilegierte GmbH" - http://www.wirtschaftsanwaelte.at/gmbh-light-durch-die-gmbh-gruendungsprivilegiert-ersetzt/ http://www.wirtschaftsanwaelte.at/gmbh-light-durch-die-gmbh-...) , but in your situation I'd be looking at setting up a german Ltd to get rid of some of the problems at least: http://www.ug-ltd.de/limited.html http://www.ug-ltd.de/limited.html

emailgregn 11y ago

It's interesting to hear that having recently experienced the wholehearted enforcement of KYC rules and general efforts avoid/shed that reputation.