Zero Income Tax in Europe for Freelancers? Albania Freelancer Income Tax

Zero Income Tax in Europe for Freelancers in Albania. Start your immigration strategy today:
Book a consultation call: https://calendly.com/traveleconomics/60min

Contact me: https://checkinprice.com/contact/

Check our other videos: https://www.youtube.com/channel/UCINdDQXISgr7KtvmhWJqOBA/videos

Music: https://bit.ly/3v6GIfA

00:00 Intro
00:57 Freelaners in Europe and Elsewhere
01:30 Albania New No Income Tax Law for Freelancers Up to a Certain Yearly
01:56 Example
02:52 Restrictions
03:16 Extra costs
03:57 Advantages of being a freelancer in Albania
04:45 Disadvantages

Albania has a new Law starting from 2021 that benefits freelancers
It is an inexpensive way to have zero income tax and live in Europe
It is completely legal and available to everyone willing to start being a freelancer in Albania
However there are some restrictions, depends on how much you earn per year
It also allows you to get a residence permit
There are some other costs involved.

Are you a freelancer in Europe, most notable Western members of the European Union?
We are talking here about countries like France, Germany, Spain or Sweden, but broadly, almost all countries in the Western part of the European Union.

Or alternatively, you don’t live in Europe, and for some reason or another, you live in a country where it is difficult to be a freelancer?

If you fit in one of these categories this video is for you.

Albania has a new Law starting from 2021 that benefits freelancers

Albania has passed a law in the beginning of this year which makes the life of freelancers greatly easier, with no income taxes for up to a certain level of income per year.
It is completely legal and Albania is actually developing itself quickly, as a matter of fact, some of its bureaucratic processes are better than in many countries in the European Union.

But it is not that simple, just come to Albania and pay no taxes, you know that nothing in life is. That is not how it works.

But it is still pretty good, let’s analyze how it actually works.
First, and the most important part, is that there is a threshold to which you can pay 0% income tax.
If you have a turnover of up to 14 million Albanian Lek per year, you will be eligible for the 0 income tax.
But then you ask me, what on earth is 14 million Lek? That translates to roughly 135000 USD or 115000 EUR.

However there are some restrictions, as I have mentioned, there is a maximum income limit in which you can benefit from this tax structure.

If you earn above that threshold, let’s remember we are talking turnover here, not profit, your income will be taxed at a 15% rate.
15% is still pretty good, especially if compared to Western European countries, but 0% is better than 15% in my opinion.

There are also some costs involved in running your freelance operation in Albania.
You will need an accountant, which will cost you some 50 euro per month.
And there are also mandatory social contributions, there is no way to get around this.
You have to pay this in any case if you are a freelancer working in Albania. They amount to slightly less than 100 euros per month.

Another advantage of becoming a freelancer in Albania is that if you start your operation in the country it will create grounds for you to apply for a residence permit.

Advantages and disadvantages of being a freelancer in Albania:

Advantages of being a freelancer in Albania:

So all in all I see this as a great deal as:
-You will be able to reduce your tax bill as a freelancer drastically.
-You will be able to become a tax resident in Albania which has lower taxes than most Western countries.
-It will allow you to live in Albania, a country with amazing beaches, nice weather, friendly people and a good level of safety.
-If you stay long enough it will lead to permanent residence and citizenship in Albania.

Disadvantages of being a freelancer in Albania:

-Albania is not a member of the European Union (which can also be an advantage but), you won't have easy access to a larger market as the Albanian market in itself is quite small.
-The laws in Albania are going through reforms. This applies not only to business laws but also to immigration laws.
-While the changes so far have been positive, more in the sense of inviting foreign investment to the country, it is still unclear what changes might be on the way both in terms of immigration law as well as other business laws and tax regulations.
-Healthcare in Albania is not the most reputable in Europe.
-Albania is still basically a cash economy.

If you are considering moving to Albania you might also want to watch our videos on Albania. If you are still undecided there are other countries with great tax structure solutions for freelancers, like Georgia. In Georgia you can pay 1% income tax up to a certain threshold, definitely a good

Видео Zero Income Tax in Europe for Freelancers? Albania Freelancer Income Tax канала traveleconomics