4 ms·

Take a look at Chania, Crete Greece. You can setup a corporation in Greece and work as a contractor for local and foreign companies. That will get you 22% tax.

by atmosx 4y ago

Take a look at Chania, Crete Greece. You can setup a corporation in Greece and work as a contractor for local and foreign companies. That will get you 22% tax. Assuming you make more than 80k / year (after taxes) you'll be on the high-end. Housing is expensive for Greek standards but I'm pretty sure that you will be able to afford it. It is an island but pretty big. Has hospitals, universities, etc. Chania is a small town but 6 months a year is flooded with tourists so appears to be much larger and always vibrant. The sea and scenery in Crete is outstanding. Especially the canyons. Cons: Infrastructure in Greece is poor. Internet services are considerably more expensive and public transport is not good compared to central Europe. Streets are poorly maintained as well. Pros: The food is amazing, best you've had. Any kind of crops will grow there and will be tasty. You'll be living next to the sea, you'll be the most "popular" member of your extended family... Everybody will want to "pay a visit" as often as possible. People are pretty friendly, crazy at the same time but really open. The gov is actively trying to destroy the healthcare system but it is still average.

ultim8k 4y ago
I agree with you about food and quality of life. Not so sure about the tax rates. Are you sure that 22% is all you pay? I'd be very surprised if this is with the Greek tax system. Disclaimer: I'm from Chania and live in London the last 5 years and considering the possibility of working remotely.
- atmosx 4y ago
  Hello, Disclaimer: IANAA, please consult a professional. I can hook you up if you want, with someone who knows these things much better than me (drop a PM via twitter, we're following each other apparently) tl;dr: Business income generated by partnerships (OE and EE) that maintain single entry accounting books is taxed at a unified tax rate of 22%. In addition, any subsequent distribution of profits is not subject to dividend taxation. To create an OE or EE you need to have a business partner. EE is better because your partner will have limited partnership liability. The partner can be family but there are some exceptions which I don't remember (e.g. if your wife is a public servant, etc.). The catch here is that you're fully liable in case the company goes bankrupt... But that should not be a problem for companies offering services, especially IT. The alternative, if you are sole owner, is to create an IKE. Taxation then 24% tax rate + 5% on dividends. link (in Greek): https://www.startyouup.gr/el/a/58-eythynes-omorrythmwn-etairwn-oe-ee-kai-etairwn-diaxeiristwn-ike https://www.startyouup.gr/el/a/58-eythynes-omorrythmwn-etair... In your case there's an additional benefit. In case you decide to transfer your tax residence back to Greece, you might be eligible for up to 7 years 50% tax reduction.
  - deleted 4y ago
    [deleted]
  - ultim8k 4y ago
    Sounds very interesting. Especially 5% for dividends tax sounds like heaven compared to the different tax bands in UK. I'll double check with my accountant there. It may have a potential. I'm just a bit scared of Greek gov. Traditionally it has been proved completelly volatile and untrustworthy. I don't want to get personal liability or fight with the bureaucracy.

by atmosx 4y ago

ultim8k 4y ago

I agree with you about food and quality of life. Not so sure about the tax rates. Are you sure that 22% is all you pay? I'd be very surprised if this is with the Greek tax system. Disclaimer: I'm from Chania and live in London the last 5 years and considering the possibility of working remotely.

atmosx 4y ago
Hello, Disclaimer: IANAA, please consult a professional. I can hook you up if you want, with someone who knows these things much better than me (drop a PM via twitter, we're following each other apparently) tl;dr: Business income generated by partnerships (OE and EE) that maintain single entry accounting books is taxed at a unified tax rate of 22%. In addition, any subsequent distribution of profits is not subject to dividend taxation. To create an OE or EE you need to have a business partner. EE is better because your partner will have limited partnership liability. The partner can be family but there are some exceptions which I don't remember (e.g. if your wife is a public servant, etc.). The catch here is that you're fully liable in case the company goes bankrupt... But that should not be a problem for companies offering services, especially IT. The alternative, if you are sole owner, is to create an IKE. Taxation then 24% tax rate + 5% on dividends. link (in Greek): https://www.startyouup.gr/el/a/58-eythynes-omorrythmwn-etairwn-oe-ee-kai-etairwn-diaxeiristwn-ike https://www.startyouup.gr/el/a/58-eythynes-omorrythmwn-etair... In your case there's an additional benefit. In case you decide to transfer your tax residence back to Greece, you might be eligible for up to 7 years 50% tax reduction.
- deleted 4y ago
  [deleted]
- ultim8k 4y ago
  Sounds very interesting. Especially 5% for dividends tax sounds like heaven compared to the different tax bands in UK. I'll double check with my accountant there. It may have a potential. I'm just a bit scared of Greek gov. Traditionally it has been proved completelly volatile and untrustworthy. I don't want to get personal liability or fight with the bureaucracy.