Digital nomad building the next Facebook

ArroyoNew MemberAuthor

Joined: Jun 2020
Messages: 1

4 Jun 2020#1

Ok, the thread title is maybe a bit hyperbolic :D but for a reason. I am a digital nomad from France and thus with a French passport but mostly operating from Bulgaria where I live and have my company. My commercial activity thus far has been relatively low-key and my setup has worked well for my purposes for the past years.

Now I am about to launch an app that I am confident will make me millions (can't give details as to why or how for now, sorry!) with a revenue flow of millions in USD per month, fully legitimately. I want to be prepared for this and think my 'flimsy' Bulgarian setup is not a strong enough foundation for it.

I'm looking for suggestions for a setup that would be robust enough so that the bank doesn't freak out when millions suddenly come pouring in from Apple and Google. But also solid enough legally speaking and image-wise so that 1) Internet trolls and 'detectives' can only do minimal damage when trying to cause controversy around my product and business (you know how it can get with a popular Internet phenomenon) and 2) I can start with a virtual office somewhere but can easily expand and have a good base of operations for real employees etc if needed and to build a larger construction around later. Tax optimization is of course very important too but slightly less so than what I mentioned before.

I want to be fully prepared and have the budget to do whatever is necessary. What are your suggestions? I'm also open for suggestions regarding which consultants would be best for me to talk to.

LelapinnoirNew Member

Joined: Aug 2019
Messages: 34

4 Jun 2020#2

Depends on your budget......
I would personnaly open a the main company in UK. I would open a company for IT and marketing purpose in Portugal that would charge the UK company and the owner of portugese company would be a HK corp.

You can as a French passeport holder make your personal fiscal residence in portugal and get salaries from your IT/Marketing company with low taxes. Or send them to HK and get salary / bonus etc from there.

I am sure some more optimal set up would exist but a UK company will cost you 500 E..... And a portuguese one around 3K. With low maintenance fees, good international reputation.

But wait a bit i am sure some other people will bring you different solutions.

I am not a consultant myself and have nothing to offer you or to sell you. Best of luck

neweraoffshoreActive Recruit

Joined: May 2019
Messages: 287

5 Jun 2020#3

I would recommend a setup outside the EU. If you say it is "facebook" like you don't want to collide with shitty EU GDPR, privacy and whatever stupid laws. That's why US companies like paypal, facebook & co. still ignore most EU privacy laws.

agratahNew member

Joined: Apr 2020
Messages: 1

5 Jun 2020#4

Does anyone have any input on whether a good idea in this case might be a Swiss (Zug) company? Looks like a good balance between image/prestige/reliability and tax optimization.

aageFake user - Alias of JohnLocke

Joined: Sep 2012
Messages: 616

7 Jun 2020#5

I have set up a company in Zug, it required a lot of money, the company is now 3 years old and has cost about 36000 euros in accountant or administration alone in the 3 years I have had it. But in return, I pay no tax whatsoever, which means it can pay well for me. At the same time, I must say that I have some really good friends living in Zug / Switzerland and that is why it is possible.

Digital nomad building the next Facebook

More in Request Help!

Offshore structure setup

Need to offramp very old (no SOF) crypto to buy house ES

Payoneer alternative for better privacy for Serbian freelancer?

flexible accountants