Comments URL: https://news.ycombinator.com/item?id=43657940

Points: 2

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Comments URL: https://news.ycombinator.com/item?id=40786621

Points: 1

# Comments: 0

The process is often 1) notary (incorporation deed creates the entity), 2) followed by setting up a bank account (get the initial capital in) and 3) do some additional registrations for your new entity, such as corporate and VAT number.

While it can take a while depending on the country, it in all honesty isn't as bad as portrayed. But since he was setting up a holding entity to hold the shares before he could incorporate his actual operating company, he had to go through it twice.

Usually landing a remote position creates significant opportunities. My girlfriend, a talented senior designer, has increased her compensation nearly 5 fold from her previous work situation and now also works from home.

You ultimately get what you negotiate.

So yes, if you spend all your money to the last penny, that would be your tax rate. But many (higher income) people do not.

Also, does Bulgaria support interim dividends? The loan set-up, while not an issue, can perhaps be avoided by use of interim dividends.

The conversations I have had with people who have found the gold wheel is mind boggling, and they almost all get in trouble at some point.

I agree income taxes are high throughout most of Western Europe, but the way to grow wealth is by acquiring assets that can grow without having to sell them and pay taxes.

An investment fund (or a property) can often grow for a long time and throw off cashflows that are taxed more efficiently. So can a business where you build up value in the equity. Cashflow keeps the lights on, but equity (even in a small business) builds wealth.

That said, I know self employed developers making 150-200k (EUR) gross per year as contractors. But I also know employees that get allocated a few 100k/year in stock options as part of their compensation.

Yes, you do need to be exceptional. And you need to be smart in the choices you make. I thought that was a given, since millions of dollars don't just come falling from the sky.

I live in Belgium with similar high income tax rates to Sweden, but I know quite a few people that I grew up with who have done very well. Better than his story. All mid 30s and all came from nothing. Even as an employee. No excuses, man.

These stories might not be listed in the newspapers, but that does not mean there are none.

It's about finding a problem to properly solve, not about the tech stack.

Aside from the fact that many of these structures are not illegal, and are often declared to local tax authorities of the resident, these are private matters. Plenty of money is laundered through onshore jurisdictions as well -- this has nothing to do with the entities itself.