Hello, after some years of permanent role, this is the first time that I am changing my professional career to be a freelancer contractor.
I have a won my first contract (through an recruiting agency) to work on a European east country (member of EU).
The umbrella company says that I can make a higher retention if I declare a modest income on the east country, they write something like "monthly remittance of x euros" and live a modest life.
The net income will be higher and deposited on any account and could be paid as dividends.
I don't know if I have to open a new bank account in the east country to receive this "monthly remittance". The agency says that I can receive all in my existing account.
What are your thoughts about this? What is the meaning of remittance in this situation?
This is my first experience with this so I feel confused about it.