My partner and I live in Portugal (both foreigners) and we need a payment gateway and a bank account with credit card. Preferably the bank would offer a payment gateway for our online business. We need to be able to bring money into Portugal for our personal salaries and pays. We looked at Mauritius but it's listed as a black listed country by the Portuguese government (seen as a tax haven). Cyprus isn't listed as one, would that be a good option?
Well the corporate tax in Portugal is relatively high, I'd like the business activity to be run outside of Portugal so there's a proxy of protection. I'm not under a special tax program but my partner is.
You ideally want to be part of Portugal's Non-habitual Residency program. Then you want to structure your offshore activities around that program to be compliant.
Failing that then the only options are limited. Portugal has CFC rules where undistributed profits of non-resident companies in low tax countries are taxed in proportion to your holdings in that company. This includes direct and indirect holdings you may have in an offshore company.
