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Looking to start a project, but I don’t have money. In which country will it be wise to do research and development?
Basically, I want to start a college project related to car mechanics. It’s a school project, not a business project.
What I want to do is to approach companies in other countries, and suggest my idea. I have to order materials, get them delivered. The manufacturer has to be reliable and authorized to produce a car.
But I have no money. I am based in Germany, but my company will be in Portugal (same country, same currency, but with lower taxes).
In my country there are two rules that I am wondering if they apply also in other countries.
100% of money is considered income. So if I am based in Germany and I make a car for in Portugal, I have to pay over 75% of taxes. I won’t be able to pay the taxes and sell the car in Portugal.
I have a contract with my company, and as long as I don’t order anything and I don’t make money the contract is considered an idea, which can be disregarded after the end of the contract. If I have a contract until the end of the college year, I won’t be able to do what I want, because the contract will be considered an income at the end of the year.
If these rules are valid in Germany, do they apply to other countries?
As the accepted answer suggests, most or all EU countries would be aligned regarding taxation.
From that, I’d speculate that your contract would still be considered an idea during the startup phase, so you could take your production idea to the EU Commission and see if there’s an avenue for assistance. They might be able to help you to get your contacts, or help you in contacting them.
It might also be possible for you to get some of the money from your company back in a more streamlined manner, depending on your country and the company.
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