Question Do i have to pay tax with UK LTD and Wise?

[vvvictor]

Hi, do i have to pay tax with UK LTD for non-resident (EU) and Wise?

There are better solutions?

Can someone contact me via Skype, send me a PM if you can guide me.

Thanks

 

[Martin Everson]

Hi, do i have to pay tax with UK LTD for non-resident (EU) and Wise?

Yes

There are better solutions?

Yes

Can someone contact me via Skype, send me a PM if you can guide me.

Generally people come to the forum to share and discuss issues and seek solutions in some cases. It helps others facing similar issues when the discussions are held in public.

 

[vvvictor]

Hi Martin, thanks for your time.

Can you suggest a better setup than this?

Can I avoid to pay corporate taxation opening a business account with bankera that have all in Lithuania?

Thanks

 

[Martin Everson]

Can I avoid to pay corporate taxation opening a business account with bankera that have all in Lithuania?

No unless you want to break the law.

 

[vvvictor]

How I can setup all correctly? My target is avoid to pay taxes in both country.

Do i need an offshore bank account?

 

[Martin Everson]

Do i need an offshore bank account?

This will not help.

What exactly are you looking to do and where are you tax resident?

You should first work within your countries tax code to see if there is a legal way to reduce or even eliminate tax you have to pay. Secondly if this is not possible then you need to investigate relocating to where you do not have to pay tax.

 

[vvvictor]

Italy..

Can I set all as a cost and but crypto thought Wise and Coinbase?

 

[Martin Everson]

Italy..

That's really unfortunate tax saving wise .

Can I set all as a cost and but crypto thought Wise and Coinbase?

No


P.S So you didnt get the answer you liked so you created a new thread below

https://www.offshorecorptalk.com/threads/best-solution-for-receving-€20k-month-with-emi.33959/

 

[vvvictor]

That's really unfortunate tax saving wise .

What are you meaning with this? It seems worse that it is..

No

Do you have a good solution? Do you want to be a shareholder?

P.S So you didnt get the answer you liked so you created a new thread below

Because they have more info and its about EMIs

Im understanding all better but clearly i need a good guy that explain me all better! Maybe without change residency lol only structuring all better like Advcash in Belize or something like that

 

[Martin Everson]

What are you meaning with this? It seems worse that it is..

Exactly what I said.

Do you have a good solution? Do you want to be a shareholder?

No

Im understanding all better but clearly i need a good guy that explain me all better! Maybe without change residency lol only structuring all better like Advcash in Belize or something like that

Without a change residence you will end up spending lots of money on creating a structure to ensure all your business activity is done at arms distance from Italy and yourself to escape the Italian tax net.

 

[vvvictor]

Exactly what I said.



No



Without a change residence you will end up spending lots of money on creating a structure to ensure all your business activity is done at arms distance from Italy and yourself to escape the Italian tax net.

So what do you suggest? Where I can get residency with a max of 5% of corporate tax? How much it can cost?

I was looking for a corporate structure like advcash (I think is a good example) or something like google(?? idk) in bermuda plus other companies under licenses. I dont know how much it can cost..

 

[Martin Everson]

So what do you suggest? Where I can get residency with a max of 5% of corporate tax? How much it can cost?

What business are you into and where are your customers based?

You could for example just move to a country with a remote worker program. Pick one where they do not tax your foreign income. You can then use a service in EU to engage your customers and pay you your earnings. But again it depends on the type of business you are doing.

 

[vvvictor]

I have an advertising website also with premium services so I need to get payment with sepa o swift and from stripe or PayPal... Its a mess, nothing simple here lol With workers is can take Italian one that works with P.IVA so they pay taxes in Italy, its not a problem

 

[Martin Everson]

Doesn't sound like that sort of business will generate enough income to make it worthwhile going offshore.

 

[vvvictor]

Mmmm... you are right but there are some exception, im an expert in this market. With 500.000 unique view I can earn a net of 208.400 euro each month easy.

By the way its not this the topic, I want to resolve my issues...

 

[EliasIT]

You have to pay tax, only if you relocate you will avoid to pay the income tax if the country you relocate to has better tax system.

 

[rivertorain]

@vvvictor You can get the UK LLP which is no tax unless sourced from the UK.

 

[brescape]

Being an online business, you can form a limited company and create some substance abroad. You will have resident director but you will held 100% of equities. You will pay corporate tax in the country of incorporation (and substance), that hopefully has been chosen to be a low corporate tax country, and you will liable of personal tax when you pay yourself but you can delay this until you move, even temporarily to a lower (or zero) personal taxation country.

You can PM me if you want some examples

 

[vvvictor]

@vvvictor You can get the UK LLP which is no tax unless sourced from the UK.

Thanks for your time, I have already a UK LTD, I'm trying to understand something in detail and move well.. but I have to study

Being an online business, you can form a limited company and create some substance abroad. You will have resident director but you will held 100% of equities. You will pay corporate tax in the country of incorporation (and substance), that hopefully has been chosen to be a low corporate tax country, and you will liable of personal tax when you pay yourself but you can delay this until you move, even temporarily to a lower (or zero) personal taxation country.

You can PM me if you want some examples

Thanks you too, yes maybe, im curious to know your opinion and other examples. Yes I think this is the kind of reply that I went waiting.. tell me if im right, so I will pay tax in both countries or only in the substance country? How is it possible to set up a company for low corporate tax and at the same time another with 0% on personal taxes?

PS for PM its not possible, im planning to but the mentor group plan because I like "these things", so until then i think you can just write on my profile. Thank very much

 

[brescape]

In shorts, you pay corporate taxes where your company has substance and it is controlled. You pay individual tax where you are resident.

Even shorter, if you plan to be resident forever in Italy, there is no much planning to do. You either pay your tax, or you break the law.

if you are considering at one point and, even not permanently to move, then there planning opportunity as you can shift your individual tax to when and where you move.