Working Offshore, Self Employed, Leaving Holland.

[walliew]

Good morning all,

After my second trip to Asia (Nov, Dec half in January this year) I found out that im enjoying myself more in Asia then back here in Holland. I am only 22 but I would still like to try, if my planfails I can always go back to my old boss so basically I have nothing to lose.

I would like to unsubscribe from myself from The Netherlands since this better for tax(Correct?). I will lose 2% off my government retirement every year, I am not too worried about that im convinced that my generation will have to save up for their own retirement anyway. Then I would have to save for my own pension and get myself a private healthcare insurance(which is not a problem at my age).

Now my question is, would it be better to be self employed in Holland or is it possible to start a company in Thailand without all the thais i would have to employ. I wont be working in the Thai sector. Singapore, Japan, Brunei, etc. etc. etc. Will it still be possible for my to work in the Dutch sector (because of better dayrates) without paying tax?

Plan to around July / August to leave ...

I hope you can help me!

Regards, Joost

As you can see english is not my first language but im trying to make it as clear as possible.

[Soutpeel]

As a Dutch national, working the dutch sector, you still will be paying dutch tax, irrespective of how you set it up, further you will not be able to set up a Thai Ltd company without Thai employees.

Working other areas, maybe be possible to get some tax benefit

[walliew]

Thanks for your reply soutpeel! I know there is one Thai company where i could possibly work for, do you also require a work permit offshore?

Thanks in advance!

[Soutpeel]

Thanks for your reply soutpeel! I know there is one Thai company where i could possibly work for, do you also require a work permit offshore?

Thanks in advance!

Yes you require a WP

[walliew]

Ok thanks soutpeel! Do you have any advice for me? Should I start a company in Holland? Or are there other countries were im better off with taxes etc?

[Dancealot]

Hallo Joost,

As you say you are 22 and have nothing to loose. Most company's will take care of a WP for you. Indeed you will loose 2% every year on your basic pension. It's better to save money for yourself and don't rely on the dutch pension system too much. Good luck

[FritsSikkink]

Go to an accountant and they will help you to setup a company where you don't spend too much on tax.

[Gone]

If you work for a Thai company off-shore then you will get a Work Permit for Thailand and pay taxes in Thailand only.

It is International law that you can only pay tax in 1 country.

When i moved here from Canada 11 years ago and started working here with a tax id card etc. I also closed any ties I had to Canada (no bank account, no drivers license, no home ownership etc.)

When I went back to Canada I had my Thai tax card translated into English and notarized from a Thai lawyer. The companies in Canada said they could not pay me tax exempt unless I went to the Canadian Government office and got a letter from them which I did. Even they started saying "no you must pay tax here first then claim it back on your tax return in Thailand". I simply told them they were wrong and they did some investigating then gave me the proper letter to show my company who hated it but had to comply.

Normally when we do shut-downs (Oil/Gas industry) we make a lot of money in a short period of time and pay almost 50% tax there.

In my case I claimed it on my tax return in Thailand and paid only 22%

[Soutpeel]

It is International law that you can only pay tax in 1 country.

No its not...I think you are referring to reciprocal tax agreements between certain countries, this is not "international law"

[TerryLH]

"It is International law that you can only pay tax in 1 country."

As worded, that is incorrect.

Do you mean that you only have to pay tax on money 1 time?

[beachyman]

"It is International law that you can only pay tax in 1 country."

As worded, that is incorrect.

Do you mean that you only have to pay tax on money 1 time?

That's only true if there is a reciprical double taxation agreement between the countries. You would most likely still have to declare taxes but could potentially make deductions. This type of stuff is usually best consulted with a tax professional in your country with experience in off shore companies.

I can personally recommend a Cyprus holding company to "own" your other holdings as that's how I do it. Generally if you make about 30,000euro a year it would be worth it for most eu countries. Depends on what type of operation but if you run it as a holding company it is potentially a good option as you can invoice yourself, save on capital gains, hell the banks, accountants and lawyers there will pretty much do anything you ask them.

Also they are on the OECD list so less shady than panama, Seychelles etc. and they have double taxation agreements with many countries, I believe Thailand as well.