@@nomadcapitalist I would really like to use this vehicle .. but I think the up front setup fee of 25000 USD is a bit steep. A few KEUR would be reasonable .. but 25 ? Or am I misunderstanding something here ?
I saw something else as well: No more than 20% of the annual turnover can come from management or consulting income. This means you cannot do a bunch of service work for another company." Does anyone know more ?
@@pat564 I had 0 revenue when I opened up my company, if you open a SRL (societate cu răspundere limitată), which is the equivalent to an US LLC, you're already qualified for it
This video is a godsend! Was just looking at Tbilisi alternatives, since you known, comrade P is still looking to "make friends" with Georgia. So want something a little closer to western Europe and 5% div sounds like heaven!
@@fjorddenierbear4832 Thanks for the heads up, will be checking out those two towns. I've also been looking at Bulgaria and went over there to get a feel for the place. I definitely liked it. However, if I were to setup a new subsidiary in eastern Europe, I would want to take full advantage from the tax benefits, that's why I liked what I heard about Romania. You do make a good point about the sourcing of high tech equipment, that could become a real problem for my activities, so will have to look into that further. Thanks!
This video is a bit outdated, I think. You can pay 1% Tax, only if your business is not "consultancy related". And you don't have 1,000,000 EUR allowance anymore. They reduced this to 500k EUR. Also you will pay 8% tax on dividends instead of 5% .
I don´t understand, why an "expert" don´t mentioned, that you can avoid the Withholding tax - create first a holding in Estonia, then the rumanian company - then it´s zero. And in Portugal dividends are taxfree.
@@hendrixansel9750 The problem is, that many people don´t want to move in a islamic state, and on top of this, many businesses aren´t able to work from there. Online and consulting maybe. But production of gods or online - marketing with a knowledge workforce is rumania better.
This message is for Rusudan -კარგი პრეზენტაცია რუსუდან. განაგრძეთ კარგი საქმე. წარმატებებს გისურვებთ. Romania is not a bad option, full of beautiful countryside, especially Namats region.
Andrew is excellent to listen to but let the girls host the videos (especially the Belgrade staff of course, my girlfriend is from Serbia)! PS: my beloved Serbia should urgently match this tax incentive offered from Romania honestly!
@@tubekrake When the estonian company is an aktive business, then profits are taxed. But already taxed profits from another EU company are taxfree. And sitting in Portugal with NHR is taxfree too for 10 years.
This is inaccurate! I've been doing this 1% thing for years but there is some legislation to change this in 2023 bumping the tax to about 17% approx. We don't know exactly yet atm, but will know for sure when submittinging the tax for April 2023.
I have a business in Romania originally from Ukraine with a US passport. As a US citizen it is very easy to obtain residency for the first year. However this country has some of the worst bureaucracy in Europe ultimately making Romania unproductive and unfriendly for business. You need an authorization for everything.
One thing about Portugal: even under NHR, you will have to pay taxes in Portugal if the foreign country taxed you less than 20%. You would have a very unpleaseant surprise trying to follow this model of living in Portugal and enjoying this 1% tax in Romania.
@@helgenordman303 I have a amazon fba business in the UK which makes about £400k each year, can I take advantage of the lower Romanian corporation tax while still remaining a resident in the UK, or will I still be liable for UK corporation tax?
When the USA falls as you desire, what will the response be from other countries? Which nation will be safe for a fleeing American to take their modest life savings and start over? Thanks.
I have a amazon fba business in the UK which makes about £400k profit each year, can I take advantage of the lower Romanian corporation tax while still remaining a resident in the UK, or will I still be liable for UK corporation tax?
You generally pay tax where your business is located. You'd have to pay income tax, however, to the UK if you are a resident there. On another note, any tips on how to do a legit Amazon fba company? I see this promoted all the time but am always too skeptical it's just click bait, so I haven't really tried yet...
On the nomad capitalist website it says in the application it's only for people who make a lot of money which is not me as of yet. Is there an organization or a person I can get directed to that anyone might know here in regards to getting citizenship through descent from a few different countries?
Sounds great on paper. Yet the government and administration of the country itself in the last decades has been questionable. There could be heavy taxation on other ways, not to mention rules and promises can change unexpectedly.
I am sorry but you’re 100% WRONG! Romania is NOT in the schengen, therefore you can’t set up a Romanian company and go to live in Portugal or another EU country. Your residency permit would only be valid for Romania. If your passport dictated a visa to enter the schengen then you’d be unable to even visit another EU country without a visa! Factually wrong video Nomad capitalist
What you're saying is highly dependent on what passport you have and your last sentence also contains a factual mistake. You can't make a blanket statement about where you can and can't go without mentioning what passport you have. If you have a passport that gives you visa free access to Schengen countries you can stay there for up to 3 months. Of course you can't move there but it's a different scenario than being stuck in Romania altogether. If you have a passport that gives you no access to any EU or Schengen country then yes that would be an issue. Also in your last sentence you are confusing the Schengen area with the EU. There are 4 other countries in the EU that are not in Schengen: Bulgaria, Croatia, Cyprus and Ireland. The logical fallacy there is that if your passport required a Schengen visa that wouldn't automatically mean that you are unable to visit an EU country outside of Schengen without a visa since that would be dependent on the visa policy of that specific country for your passport. For example Ireland has a slightly different visa policy than Bulgaria and they are both in the EU and outside of Schengen
Excellent description about Romanian tax schemes but it's better to open buisness in Georgia with a saint kitts citizenship. Cause you know Romania is a EU member. So it makes people kind of paranoid about taxes.
The video I’ve been waiting for! Thanks Nomad Capitalist!
Thank you, Thomas.
@@nomadcapitalist I would really like to use this vehicle .. but I think the up front setup fee of 25000 USD is a bit steep. A few KEUR would be reasonable .. but 25 ? Or am I misunderstanding something here ?
The Top G lives in Romania
I might move there and kick it with the Tates :)
That's right,
Big shout out out to the tate brothers
G stands for Gypsies here right?
lol
@@asselkopp9461 no
Not anymore. The law was recently changed, now it is 500k limit. Also, the dividends tax is now 8%.
How practical is it to form a new company every time it looks like 500K is about to exceed on current company?
@@cenfraceeprivatelimited4863 a shareholder will be able to hold at least 25% (per company) in a maximum number of 3 companies.
I saw something else as well:
No more than 20% of the annual turnover can come from management or consulting income. This means you cannot do a bunch of service work for another company."
Does anyone know more ?
This law did not pass yet
@@notreallygoingtopostanythi9225 this is mainly for consulting for romanian companies, not normal it consulting stuff
I did exactly that last month moving from Portugal, 0 regrets
Hey Matheus, what is the minimum yearly revenue to be approved for this program?
@@pat564 I had 0 revenue when I opened up my company, if you open a SRL (societate cu răspundere limitată), which is the equivalent to an US LLC, you're already qualified for it
You mean you moved to Romania, or what?
Lol I didn’t even know about this and I’m romanian
Me too, Vlad!
The best thing is that they changed this in the last weeks and he comes out with this video now
@@Flbari Interesting! 👍
same lol
Not surprised if the top g broke down all his businesses to below 1 mil in rev
This video is a godsend! Was just looking at Tbilisi alternatives, since you known, comrade P is still looking to "make friends" with Georgia. So want something a little closer to western Europe and 5% div sounds like heaven!
Glad to hear that. You will enjoy Georgia 😊
@@fjorddenierbear4832 Thanks for the heads up, will be checking out those two towns.
I've also been looking at Bulgaria and went over there to get a feel for the place. I definitely liked it.
However, if I were to setup a new subsidiary in eastern Europe, I would want to take full advantage from the tax benefits, that's why I liked what I heard about Romania.
You do make a good point about the sourcing of high tech equipment, that could become a real problem for my activities, so will have to look into that further.
Thanks!
Apparently AH is a bit outdated on this one ! Still it is a great offer all the same !
This video is a bit outdated, I think. You can pay 1% Tax, only if your business is not "consultancy related". And you don't have 1,000,000 EUR allowance anymore. They reduced this to 500k EUR. Also you will pay 8% tax on dividends instead of 5% .
I don´t understand, why an "expert" don´t mentioned, that you can avoid the Withholding tax - create first a holding in Estonia, then the rumanian company - then it´s zero. And in Portugal dividends are taxfree.
CFC and/or place of management rules?
@@alexnezhynsky9707 an EU - Holding has very low standards.
@@hendrixansel9750 no pain, no gain
@@hendrixansel9750 The problem is, that many people don´t want to move in a islamic state, and on top of this, many businesses aren´t able to work from there. Online and consulting maybe. But production of gods or online - marketing with a knowledge workforce is rumania better.
Thats pretty cool info!
Shoutout to the Top G!
Does the required employee have to be a Romanian/ EU citizen? What if you appoint yourself as CEO and pay yourself? Would that be allowed?
Yes is possible. You an can hire youself an pay at least minimum wage on a full time contract.
This message is for Rusudan -კარგი პრეზენტაცია რუსუდან. განაგრძეთ კარგი საქმე. წარმატებებს გისურვებთ. Romania is not a bad option, full of beautiful countryside, especially Namats region.
Thank you, John. We will forward it to her.
I am Romanian and I've never heard of that region. Would you mind sharing a bit more about "Namats"?
@@vindembmw6421 I was talking mainly about the "Piatra Neamț" region. Hope you know this region.
eu cred că are în vedere regiunea Neamț. Georgienilor le plac munții și cred că a fost pe la cheile Bicazului tot.
Very informative video. Are there any restrictions on the kind of business?
Andrew is excellent to listen to but let the girls host the videos (especially the Belgrade staff of course, my girlfriend is from Serbia)! PS: my beloved Serbia should urgently match this tax incentive offered from Romania honestly!
Who in hell wants to live in serbia? Croatia yes but Serbia. Awful place
Yessss
I had a hard time understanding her due to the accent, but Andrew's voice comes across clearly.
The same law that introduces 1% also raises current dividends tax from 5 to 8%
Avoid the dividend tax with an estonian Holding.
@@matthewchrist5399 Sounds complicated and expensive if you need substance in both. And aren't dividend's there taxed at 20%
@@tubekrake When the estonian company is an aktive business, then profits are taxed. But already taxed profits from another EU company are taxfree. And sitting in Portugal with NHR is taxfree too for 10 years.
@@tubekrake Estonia has zero WHT.
@@matthewchrist5399 Romania will make you withold in this situation I am fairly sure
what is the tax percentage for revenue over the $1MM?
16% if i remember correctly
@@losttale1 fair enough.
Another Great Video Rusudan - Well done
Glad you enjoyed it.
Thanks for the information 👍
Glad you like it.
Thank you
This is inaccurate! I've been doing this 1% thing for years but there is some legislation to change this in 2023 bumping the tax to about 17% approx. We don't know exactly yet atm, but will know for sure when submittinging the tax for April 2023.
Great Video.
Thanks.
I have a business in Romania originally from Ukraine with a US passport. As a US citizen it is very easy to obtain residency for the first year. However this country has some of the worst bureaucracy in Europe ultimately making Romania unproductive and unfriendly for business. You need an authorization for everything.
Very interesting. Thanks.
Glad to hear that.
One thing about Portugal: even under NHR, you will have to pay taxes in Portugal if the foreign country taxed you less than 20%. You would have a very unpleaseant surprise trying to follow this model of living in Portugal and enjoying this 1% tax in Romania.
That's not true. The regular Double Taxation Treaty works this way. But NHR is totally different
@@helgenordman303 I have a amazon fba business in the UK which makes about £400k each year, can I take advantage of the lower Romanian corporation tax while still remaining a resident in the UK, or will I still be liable for UK corporation tax?
Is this 1 million euro for general income or for profits?
does romania offer a citizenship by investment or permanent residency program?
Top G
What is the tax for foreign income ?
When the USA falls as you desire, what will the response be from other countries? Which nation will be safe for a fleeing American to take their modest life savings and start over? Thanks.
Many of those countries will be in turmoil also. Europe in general will not be a safe haven.
Is that a hermès scarf ?
Yes.
Ayo where the dude at?
I have a amazon fba business in the UK which makes about £400k profit each year, can I take advantage of the lower Romanian corporation tax while still remaining a resident in the UK, or will I still be liable for UK corporation tax?
You generally pay tax where your business is located. You'd have to pay income tax, however, to the UK if you are a resident there. On another note, any tips on how to do a legit Amazon fba company? I see this promoted all the time but am always too skeptical it's just click bait, so I haven't really tried yet...
Now wonder Top G lives in Romania
Georgia.
@@nomadcapitalist he meant Andrew Tate haha, TOP G
To save money everything's valid
This is very interesting. I thought Romania had a flat tax of 10% on world wide income for citizens and residence...?
Does this rule work for citizens? Or It's a rule for non-citizens?
@@hendrixansel9750 is the new version of the law available for romanian citizens?
For everyone
Dividends are taxed at 10%, I dont know where you got the 5%🧐
On the nomad capitalist website it says in the application it's only for people who make a lot of money which is not me as of yet.
Is there an organization or a person I can get directed to that anyone might know here in regards to getting citizenship through descent from a few different countries?
We assist individuals with citizenship by descent as an individual process.
0:37 $510 euros pay for director is considered competitive pay in romania?
I'm sure it's not, it's the minimum salary and you should do it only if you employ yourself and don't need other employees
The Bahamas has 0% tax on Capital gains and on ordinary income
But does your home country have a double taxstion agreement with Bahamas ?-mine doesent
Hi,
What is the best bank in EU that allows money transfers without problems ?
Thanks
Hi Rusudan
How to apply for PR
How close is Romania to Russia!?
So I guess we know who the 1 employee in Romania is!
She is Georgian.
It's going to be lowered to €500000 from next year
Register the 2nd company? Law firm can be handy.
Sounds great on paper. Yet the government and administration of the country itself in the last decades has been questionable. There could be heavy taxation on other ways, not to mention rules and promises can change unexpectedly.
the guys that benefit from these low-tax schemes tend to be the people that dictate the laws
I am sorry but you’re 100% WRONG! Romania is NOT in the schengen, therefore you can’t set up a Romanian company and go to live in Portugal or another EU country. Your residency permit would only be valid for Romania. If your passport dictated a visa to enter the schengen then you’d be unable to even visit another EU country without a visa! Factually wrong video Nomad capitalist
romania's joining the schengen area very soon, the final bits are almost sorted. also aiming for esta visa waiver by 2024.
What you're saying is highly dependent on what passport you have and your last sentence also contains a factual mistake. You can't make a blanket statement about where you can and can't go without mentioning what passport you have. If you have a passport that gives you visa free access to Schengen countries you can stay there for up to 3 months. Of course you can't move there but it's a different scenario than being stuck in Romania altogether. If you have a passport that gives you no access to any EU or Schengen country then yes that would be an issue. Also in your last sentence you are confusing the Schengen area with the EU. There are 4 other countries in the EU that are not in Schengen: Bulgaria, Croatia, Cyprus and Ireland. The logical fallacy there is that if your passport required a Schengen visa that wouldn't automatically mean that you are unable to visit an EU country outside of Schengen without a visa since that would be dependent on the visa policy of that specific country for your passport. For example Ireland has a slightly different visa policy than Bulgaria and they are both in the EU and outside of Schengen
Romania is in Schengen for Airports
Something good coming out of this???
my Romanian/canadian friend is moving from there to budapest
Excellent description about Romanian tax schemes but it's better to open buisness in Georgia with a saint kitts citizenship.
Cause you know Romania is a EU member. So it makes people kind of paranoid about taxes.
However if you move to Romania you'll have to share oxygen with Andrew Tate.
😂😂😂
@@jirrove :))]