Recent content by Jock

Holders of a Permanent Residence Visa are exempt from obtaining an AEP pursuant to DOLE Department Order No. 97-09: "Revised Rules for the Issuance of Employment Permits to Foreign National". You can get a Certification from DOLE stating such. I did.

In the “Corporation Code” of the PH there is no concept of residence for tax purposes. Instead the PH applies the incorporation test. As a result, you would be unable to obtain a PH TIN for your overseas company as under the criteria of the PH Government, it is not considered tax resident...

Excellent :-) LOL

HSBC HK - Oh boy, don`t get me started. Demand a new Certificate of Incumbency every 12 months and now demanding another certified true copy of the Certificate of Incorporation, all for an account that is already 12 years old. Apart from that, they are s**t.

You are going to die. Come to terms with that. Air pollution is a load of political balony.

Cheers Martin. Glad to get a reply from you. Considering redomiciling the company as it has a good bank account and getting one for a new company not easy of course. Any thoughts welcome.

My Belize IBC needs to file a tax return in Belize and financial statements (not audited). This is as it is not paying tax in another country (please lets not discuss this matter just now - I am aware of PE etc). I am a resident in the Philippines (not a CRS country). My company receives...

Don - I need to look at the redomiciling option. The important thing to me is keeping the HSBC bank account. The Belize tax is just 1.75% of sales, audited accounts are not required, and Im not sure if they have access to view all company income routes (Bank, Paypal, Wise). Yes your second...

Sols - Thanks. There is , it seems, a 15% witholding tax on dividends paid out. The question is regarding an exemption for any "related party". This related party can be a human, a majority shareholder according to one doc I found. Belize tax office (via my Belize agent) referred to SI 12...

Soundpeats - 1st question - it is new legislation. My IBC established in 2010 must now pay tax starting 1st July 2021. No doubt on this matter. 2nd question - as mentioned don`t want to get into it, but basically the PH does not apply the CMC test, only the incorporation test. Yes it is...

Sols - not the case anymore unfortunately. An IBC has to pay tax in Belize (if it does not pay tax anywhere else). As for Philippines residency - it is not PH resident but don`t want to get into that here. Just want to focus on the withholding tax question thanks.

Thanks KDX. I am a British citizen and a Philippines resident. The company is not tax resident in the Philippines (or other locale) and therefore now has to pay tax in Belize (as it does not pay tax anywhere else). Yes familiar with the terms. Question is regarding a potential withholding tax...

As the 100% owner of a Belize IBC, would the dividends my company pays me be subject to a 15% withholding tax? It "seems" that there is no withholding tax if dividends are paid to a "related party". Seeking clarity. Regulations a mess. Thought I`d try asking the wiseheads here. Thanks in...

UBO is accessible information at the SEC (for corporations at least).

A foreigner can own an export business 100%.