Malaysian Government Client asking for Tax Residency Certificate for Seychelles IBC-what to do?

[fortunespeculator]

Work will be carried out by digital nomads from different countries who will be paid as consultants. So Place of work being performed will keep changing at the backend however just to show we can add an office in seychelles ,vanuatu or uae or Georgia( Georgian vze) to show where exactly offshoring is happening if place of work performed is some kind of an issue.

Also US substantial presence test doesnt apply as I am an Indian.

 

[avalanche]

I think you might be the Idiot.A director does not even need to stay in the place of residence for the full year.I have been studying International Taxation for some time now.Had you been studying them you wouldnt be posting and starting several threads at the same time and asking other people for advice.First get your education and maybe you will not require to ask stupid questions here

Henderson had been caught preaching Georgian tax while billing his customers from his Hong Kong company while he was in Georgia obviously breaking the law.. He got himself in a clusterfuck with his former employee lol

 

[fortunespeculator]

Henderson had been caught preaching Georgian tax while billing his customers from his Hong Kong company while he was in Georgia obviously breaking the law.. He got himself in a clusterfuck with his former employee lol

I dont know your source of info so cant comment- but whatever he has done atleast some of it must be working else he wouldnt be around to tell his story.

 

[avalanche]

I dont know your source of info so cant comment- but whatever he has done atleast some of it must be working else he wouldnt be around to tell his story.

His business is about being a professional con artist to trick people into bringing him money by using distorted truth.

One of the good reads about him

https://www.reddit.com/r/digitalnomad/comments/6wl962

 

[JustAnotherNomad]

Work will be carried out by digital nomads from different countries who will be paid as consultants.

If they are contractors, it’s probably not your problem. Unless of course someone claims they are actually employees because you are not their client, but their boss. But that’s rather unlikely if they’re nomads. But if you are Indian, they are Indian, the work is done in India, it would probably be a different story.

So Place of work being performed will keep changing at the backend however just to show we can add an office in seychelles ,vanuatu or uae or Georgia( Georgian vze) to show where exactly offshoring is happening if place of work performed is some kind of an issue.

That would depend on where you live. Depending on that country’s rules, the requirements may be stricter or less

Also US substantial presence test doesnt apply as I am an Indian.

You’re missing the point. Your passport doesn’t have anything to do with it.

India also has a residency test, just like the US substantial presence test.
First Google hit:

New changes to India's tax residency rules: Impact on wealthy families | Withersworldwide

www.withersworldwide.com

So if you qualify as a tax resident under those criteria, you can claim you live in Ivory Coast all you want, you will be considered Indian tax resident. You’ll really want to pay a tax lawyer to make sure your imagined setup will work out.

 

[fortunespeculator]

If they are contractors, it’s probably not your problem. Unless of course someone claims they are actually employees because you are not their client, but their boss. But that’s rather unlikely if they’re nomads. But if you are Indian, they are Indian, the work is done in India, it would probably be a different story.



That would depend on where you live. Depending on that country’s rules, the requirements may be stricter or less



You’re missing the point. Your passport doesn’t have anything to do with it.

India also has a residency test, just like the US substantial presence test.
First Google hit:

New changes to India's tax residency rules: Impact on wealthy families | Withersworldwide

www.withersworldwide.com

So if you qualify as a tax resident under those criteria, you can claim you live in Ivory Coast all you want, you will be considered Indian tax resident. You’ll really want to pay a tax lawyer to make sure your imagined setup will work out.

Indiaha strict rules and had this 183 day rule before and this year onwards it is 240 days.I plan to stay out of India throughout the year apart from one quarter.In india we need to provide passport scans to show we are out of the country along with a declration to the taxman.I am not sure about u.s.

 

[fortunespeculator]

Indiaha strict rules and had this 183 day rule before and this year onwards it is 240 days.I plan to stay out of India throughout the year apart from one quarter.In india we need to provide passport scans to show we are out of the country along with a declration to the taxman.I am not sure about u.s.

Indian Tax law states that if i am an nri( i.e non resident Indian for more than 240 days in a year) then i pay no tax in India if income is outside India and not paid in an Indian bank.You can check the rules. So basically i need 2 other countries with no cfc laws where i need to stay the rest of the year i.e less than 183 days.( Ivory Coast and Malaysia fit the bill perfectly along with Georgia as backup).Going forward i plan to get a citizenship of vanuatu.For namesake i can keep an office in Dubai and Georgia.Let me know if this setup works.

 

[JustAnotherNomad]

You should really ask an Indian tax lawyer about the details. The article I linked to mentions specific rules for Indian residents of zero-tax countries. I don’t understand why you would need two other countries. And I especially don’t understand why you would want to stay in Ivory Coast...
Why don’t you just move to the UAE or some other place that’s actually livable?

 

[fortunespeculator]

UAE is expensive and I dont like the weather.After i have some more cash will take citizenship in Vanuatu. Whatever i have shared i am doing half of them and remaining half are in pipeline for the office in Dubai and Georgia.So lets see what gets triggered and where.Most lawyers and Accountants dont know anything on local taxation leave out International Taxation

 

[fortunespeculator]

UAE is expensive and I dont like the weather.After i have some more cash will take citizenship in Vanuatu. Whatever i have shared i am doing half of them and remaining half are in pipeline for the office in Dubai and Georgia.So lets see what gets triggered and where.Most lawyers and Accountants dont know anything on local taxation leave out International Taxation

And I will renounce Indian citizenship for good after taking a Vanuatu passport

 

[JustAnotherNomad]

So you want to actually live in the Ivory Coast and Vanuatu? And prefer that over the UAE? And you want to renounce your Indian passport? What would you do with a passport of Vanuatu?

 

[fortunespeculator]

So you want to actually live in the Ivory Coast and Vanuatu? And prefer that over the UAE? And you want to renounce your Indian passport? What would you do with a passport of Vanuatu?

I have stayed and am in Ivory Coast already.I'd like to stay in Ivory Coast anyday over uae.

Stay tax free with it->with a Vanuatu passport.

I have been in uae before for quite some time but havent ever enjoyed the weather ever.

Thing is that some people have not visited the place but try to give advice without doing it actually on the ground by looking up some websites

 

[fortunespeculator]

As for Andrew's deal i feel he is quite legit but a little expensive i have never used his services but i have checked whatever he has said in his different videos and verified them with the tax laws available for those countries and didnt find anything wrong with them or his approach.However i am a very hands-on person and would like to do it myself and hence am doing that only.Before saying somebody's theories dont work one must prove that they dont work.And there is no greater proof than doing it yourself with your own money.

 

[JustAnotherNomad]

Andrew Henderson only works with US clients anyway. But he’s just an expensive affiliate marketer. He doesn’t give a s**t about his clients, only about his commissions.

 

[fortunespeculator]

Andrew Henderson only works with US clients anyway. But he’s just an expensive affiliate marketer. He doesn’t give a s**t about his clients, only about his commissions.

What you dont know is that i was part of Deloitte myself.

Seems you have first hand experience with him and a bitter one at that.(Andrew Henderson works Only with u.s clients is a wrong statement because i had asked for a quote from him and i got a quote from him.But it seemed a bit expensive - may have been fine for Millionaires but I am not at that level yet and anyway like to do things myself.I am a BTech in Computers and an MBA finance and i also keep studying law half the time for rynning my business ,devil is always in the details- so i absolutely dont consider these things to be delegated to some idiotic tax lawyer or accountant because over the years i have checked they are a bunch of assholes whichever country they might belong.)

 

[Nomad]

fortunespeculator, Any specific reason for choosing Ivory Coast ? Also, why you want to buy Vanuatu citizenship when there are better passports available for sale like St.Lucia, St.Kitts, Antigua etc

 

[fortunespeculator]

fortunespeculator, Any specific reason for choosing Ivory Coast ? Also, why you want to buy Vanuatu citizenship when there are better passports available for sale like St.Lucia, St.Kitts, Antigua etc

Vanuatu is fast.And i dont want a carribean passport because of their branding .

Quality of life is pretty decent in Ivory Coast.But this is subjective and variable for everyone.


Vanuatu is 131500$(Zero Tax)



Dominica is 111325$,(Residence based Taxation)
Grenada - 160000$(Residence based Taxation)
St kitts -157500$( zero tax)
St lucia - 109500$( Residence based Taxation)
Antigua-138500$(Zero Tax)

So its a no brainer for me.

 

[fortunespeculator]

Vanuatu is fast.And i dont want a carribean passport because of their branding .

Quality of life is pretty decent in Ivory Coast.But this is subjective and variable for everyone.


Vanuatu is 131500$(Zero Tax)



Dominica is 111325$,(Residence based Taxation)
Grenada - 160000$(Residence based Taxation)
St kitts -157500$( zero tax)
St lucia - 109500$( Residence based Taxation)
Antigua-138500$(Zero Tax)

So its a no brainer for me.

However being a georgian resident can top all this with respect to the cost

 

[JustAnotherNomad]

So you do live in Ivory Coast? Then there most likely is a PE, as I mentioned in my first comment. But I guess they don’t really care about enforcing their own tax code.

I also still don’t understand why you’re so interested in changing your citizenship. For Americans it absolutely makes sense, but India doesn’t seem so bad tax-wise?

 

[fortunespeculator]

Both the us and India are highly litigous countries and tax rate in India at the highest bracket is above 30%.So no need to pay any dues to this government or any government for that matter with a pound of my flesh.