Startup Overseas Forums

Hello

I'm starting a fashion startup where the production will take place in Poland, but my target market will mostly be Scandinavian. I leave in Denmark, but due to high taxes I'll prefer to open the company elsewhere, so hight taxes can be avoided. One of the countries that I'm considering is Monaco. However I'm not aware of any limitation, specific requirements in my case, and who could I talk to for advice.

Sincerely
Aleksandra

Hi Aleksandra,

I'm afraid that what you're trying to do isn't really possible (and besides, Monaco charges 22% tax on business profits - it's only individual income that is tax-free there). Using an offshore company wouldn't change your tax obligations as a Danish resident, and if you're the sole person involved in the business then there is limited scope for structuring things internationally (which would likely cost you more than the taxes, at least initially).

If you'd like to know more, please visit www.osire.co and contact me through there.

Thanks,
David