Hi all,
I'm planning together with other friends to open a company in Canaria ZEC zone, while being eligible to apply for Beckham law.
1) Is it true I must hold max 24% of the company's shares?
2) Is it true foreign company dividends are tax exempted? I have two companies in UK with a lot of retained earnings (i didn't pay any dividend yet). If I become eligible for Beckham law, I will be able to cash out those dividends from the UK companies without being taxed?
3) I have a significant amount of BTC, that are not tied to any particular exchange, cause they are just a number, a private key, in my private wallet. They are not considered a "spanish asset" right? I mean, it's not real estate or something physical. How crypto holdings in a private wallet are considered? They are foreign assets or not?
4) Do I have to pay capital gains if I move them to a foreign exchange and I cash them out on an offshore bank account and then move them to a spanish bank account?
5) I want to do (on the side) some crypto-only business using an offshore LLC, which one do you suggest? I read Seychelles/St Vincent + Migom Bank are a good option, is that correct? I would prefer an offshore LLC where I do not have any reporting and auditing requirement (some countries requires even less accounting than Seychelles and St Vincent), so I can use a company debit card (not yet supported by Migom anyway) to withdraw some cash from the ATM for daily use. Do you think company debit card would be on my name or company name?
6) If I'm approved for the Beckham law, can I just use a debit card from an offshore bank account without being asked too many questions?
I want to do everything legally, but trying to have an extra layer of protection (maybe using the offshore LLC to manage my assets, and maybe using an offshore LLC from a non-cooperative country, etc) just to make it harder to tax authorities to annoy my day (I lived in Dubai for many years, I'm not used to a lot of tax crap).
Thank you all
I'm planning together with other friends to open a company in Canaria ZEC zone, while being eligible to apply for Beckham law.
1) Is it true I must hold max 24% of the company's shares?
2) Is it true foreign company dividends are tax exempted? I have two companies in UK with a lot of retained earnings (i didn't pay any dividend yet). If I become eligible for Beckham law, I will be able to cash out those dividends from the UK companies without being taxed?
3) I have a significant amount of BTC, that are not tied to any particular exchange, cause they are just a number, a private key, in my private wallet. They are not considered a "spanish asset" right? I mean, it's not real estate or something physical. How crypto holdings in a private wallet are considered? They are foreign assets or not?
4) Do I have to pay capital gains if I move them to a foreign exchange and I cash them out on an offshore bank account and then move them to a spanish bank account?
5) I want to do (on the side) some crypto-only business using an offshore LLC, which one do you suggest? I read Seychelles/St Vincent + Migom Bank are a good option, is that correct? I would prefer an offshore LLC where I do not have any reporting and auditing requirement (some countries requires even less accounting than Seychelles and St Vincent), so I can use a company debit card (not yet supported by Migom anyway) to withdraw some cash from the ATM for daily use. Do you think company debit card would be on my name or company name?
6) If I'm approved for the Beckham law, can I just use a debit card from an offshore bank account without being asked too many questions?
I want to do everything legally, but trying to have an extra layer of protection (maybe using the offshore LLC to manage my assets, and maybe using an offshore LLC from a non-cooperative country, etc) just to make it harder to tax authorities to annoy my day (I lived in Dubai for many years, I'm not used to a lot of tax crap).
Thank you all
