Recveiving a lot of money to an account, problems?

Talk to a tax lawyer/accountant.

But yea - you're going to be paying taxes and/or expensive company setup fees (in the 5000 euro+ per year range, perhaps about 7000 euros in year one). All depends on how much that "a lot of money" actually is.

Anti Money laundering laws.
It will depend on the amounts but all banks now have a duty to report / investigate large amounts of money being transferred.

Terry

tearnet wrote:

Anti Money laundering laws.
It will depend on the amounts but all banks now have a duty to report / investigate large amounts of money being transferred.

Terry

Just (without a company setup or registering self-employed) transferring large sums of money to a personal account in Malta (or anywhere in the EU) is definitely not an option.

Even with  a company set up the movement of large amounts of money will provoke some sort of investigation.

Otherwise money laundering from  proceeds of crime would be just a matter of setting up a dummy company.

Terry

tearnet wrote:

Even with  a company set up the movement of large amounts of money will provoke some sort of investigation.

Otherwise money laundering from  proceeds of crime would be just a matter of setting up a dummy company.

Terry

Not really... there are all sorts of regulations that kick in as soon as you set up a company and a company bank account. There really are no investigations as long as you do proper accounting, reporting, etc. That's the whole point of running a company - you can't simply open one up, wire loads of money through an account and expect to be left alone... money laundering investigations would be the least of your concerns (think taxes, fines, etc).

Edit: also audits are required in most jurisdictions once you go over a certain sum/year.

mantasmo wrote:

tearnet wrote:

Even with  a company set up the movement of large amounts of money will provoke some sort of investigation.

Otherwise money laundering from  proceeds of crime would be just a matter of setting up a dummy company.

Terry

Not really... there are all sorts of regulations that kick in as soon as you set up a company and a company bank account. There really are no investigations as long as you do proper accounting, reporting, etc. That's the whole point of running a company - you can't simply open one up, wire loads of money through an account and expect to be left alone... money laundering investigations would be the least of your concerns (think taxes, fines, etc).

Edit: also audits are required in most jurisdictions once you go over a certain sum/year.

You can actually buy registered already set up ltd companies and run them for more than  12 months before
Tax / accounting would be an issue.
However if you started moving large amounts of money the bank would pass this information on to the regulator, they have to as its the law.

Terry

tearnet wrote:

You can actually buy registered already set up ltd companies and run them for more than  12 months before
Tax / accounting would be an issue.
However if you started moving large amounts of money the bank would pass this information on to the regulator, they have to as its the law.

Terry

You are right - large sums do get reported - especially if coming from "dodgy" jurisdictions which is often the case with casino companies.

But that's not the OPs issue though. I believe he's looking to save money by not paying taxes. It's not that easy, even in a relatively lax place like Malta.

Yeh,  at the end of the day it depends on what amounts the OP is talking about.

Terry

Thanks for the reply guys. I believe a reasonable estimation would be around 8000€ a month. The money won't be coming from any illegal activity but setting up a company with all the responsibility that brings is not an option right now.

Perhaps this may help, the main emphasis seems to be centred on casino's.

http://www.mga.org.mt/gaming-sectors/re … aundering/

Terry

tearnet wrote:

Perhaps this may help, the main emphasis seems to be centred on casino's.

So they may have to explain about any large amounts paid to you.

http://www.mga.org.mt/gaming-sectors/re … aundering/

Terry

With that kind of (steady) income I would definitely be talking to a good accountant if I were you... there are substantial savings to be had when you earn anywhere > €50000/year.

Is there any possibility at all without having to set up a company? By just reporting and paying taxes by yourself? Let's say the amount is a lot smaller like, 3000€ a month. Could I report this myself and pay taxes, or I would definitely need to set up a company?

Where might I get in touch with a tax lawyer or accountant?

Try this link it gives a list of recommended tax advisers..

https://www.expat.com/en/business/europ … -advisors/

Terry