How I cut my: Tax rate from 45% to a flat 14.5% | Living expenses by 70% | And employee cost by 80%

To not waste anyone’s time, this only works if:You are willing to relocate countriesYour business can be run remotelyWith this said, you likely know what I’m going to recommend. Yes, my advice is to relocate — but I will tell you how, or, how I did it.A small note is that while my business is registered in Bulgaria, I’m currently living in Serbia — but as the tax rate here is higher (I’d pay a full ~25% rate) I still operate from Bulgaria.​Eastern Europe is the perfect place to bootstrap and grow an online businessAnd yes. It’s Eastern Europe I’m telling you to move to. Bulgaria, to be precise.​Bulgaria is perfect because of a few things:It’s in the European Union — which is part of why this works, and gives you greater access to EU/US marketsSofia is a tech hub — many multi-national businesses have offices there as the cost of hiring programmers and other employees is lower than anywhere else in the EUWeather is great, people are amazing, Sofia — the capital — is beautiful, and Sofia is a very walking-friendly city (in the center)The most important thing though is that Bulgaria has a good government (do not quote me on this). Corruption exists, but as your business is online, you’ll go entirely unnoticed by anyone who’d want to receive a “gift” from you.Bulgaria in numbersBusiness numbersCorporate tax rate: 10% — flatDividend tax rate: 5% — flatCost to register a business using a “full service” firm: ~$600 USDWhat I pay each year for full accounting services for my business: $700 USD​Salary/Cost of living numbersHigh average yearly salary — $28k USDAverage/typical yearly salary — $17k USDAverage 1 bedroom apartment rent p/month in city: $300Average 3 bedrooms apartment rent p/month in city: $600If you want specifics, check out on Numbeo, and search Sofia — or Plovdiv.These numbers though, what I initially got from them before moving is that — labour is cheap, and if I manage to wait until the end of the year to take out money from my business as a dividend, my tax is a flat 14.5%.​What we have so farWhat we have so far is a stable country, with good infrastructure and a city which is very pleasant and enjoyable to live in — and we have low costs/taxes — which allows us to save and reinvest far more into the business.Tips to get you startedCreating your companyThe first thing you’ll need to do is find an accountancy firm. The one I use and recommend is Aidos. I won’t link so this doesn’t get marked as spam, but just search them up on Google.They will create your company for ~500 EUR (although it was many years ago I did this, it can be higher now, but not much).​Accounting servicesFor accountancy, I use an individual accountant, rather than a firm — so my cost is dirt cheap. Keeping in mind I don’t have a great number of invoices, what I pay is for absolutely everything. The way it is, I just send my invoices to him and that’s it. He does whatever it is he does.​Tax treaties / Taxation baseThis is important. If you do move, you want to find if Bulgaria has a tax treaty with your country. If you are an EU resident/citizen, you will have your taxation base as Bulgaria from day 1.If you are not an EU citizen, it may vary. It is also possible that your country does not tax citizens abroad, so a tax treaty may not be needed.​ResidencyHere it gets tricky. I’m a Brazilian/Canadian citizen, so I do not get the benefits of the EU.Bulgaria though will offer residency to ‘anyone’ if you have 10 employees. The loophole though is that you do not need to keep them permanently nor pay them full time.The trick here — and one Aidos helped me with — was finding 10 people. For 3 months, they each got paid into their social security account ~$40.None got a salary — only the social security deposit, and this made it worth it for them.I'm on my 5th year of doing this and so far no issues. Bulgaria is funny like that.​Want more of my thoughts and advice?Join the Discord server I just created! 😍https://ift.tt/3FR0VvI just created, please be patient)​I've been an entrepreneur for 12 years.Failed so many times, succeeded a few - but a few so large it made it all worthwhile.I'm skilled in programming, ecommerce, hosting and server infrastructure - as well as sales, psychology, and marketing. see hubwealthy.com/wealthy