Moving to Portugal

[Reboot]

Hello,

I'm a Portuguese web designer working and living permanently in the UK for a few years now since then I didn't do any tax returns in Portugal, I payed my taxes in the UK.
I'm considering moving back to Portugal working remotely for the company in the UK.
If I continue as a UK company employee I will have to pay in Portugal the difference between what I pay in taxes in the UK and what I would have to pay in Portugal meaning I would have much less take home pay.
I can also open a company in Portugal and invoice my customer UK company but corporate tax is very high.
Is there any other option I might consider like opening an offshore company? where?
Any help would be appreciated.

Thanks
Carlos

 

[lostguy]

You may consider to open a Belize or Seychelles company to invoice your customers! That would require that your customers accept to be invoiced from these jurisdiction! So they can pay in to an EMI account like Mister Tango and you can withdraw the money using the debit card or bank transfer where you then have to pay tax in Portugal.

 

[Reboot]

and isn't Mister Tango or Transferwise obliged to report to Portugal?

 

[Reboot]

anyone with ideas?

 

[Nauticalnomad]

A Gibraltar non resident company would do. Do you have to live in Portugal?
You could spend 2 weeks in the UK. 170 days in Portugal and 170 days in France.
Then you would not be liable to pay the tax in that jurisdiction.
Why not go and sit in a hotel in Asia for a month or 2 as well. Work from there.

 

[Reboot]

A Gibraltar non resident company would do. Do you have to live in Portugal?
You could spend 2 weeks in the UK. 170 days in Portugal and 170 days in France.
Then you would not be liable to pay the tax in that jurisdiction.
Why not go and sit in a hotel in Asia for a month or 2 as well. Work from there.

So have no tax residency?

 

[Nauticalnomad]

Yeah. Why not. If you already have an address in the UK.. Use that to open a company in Gibraltar as a non resident. Then once thats done.. Leave the UK. The Gibraltan govt i guess reports back to the UK about your business but you arent in the Uk anymore. The Gib govt request books annually to see where the money is being spent but the corporation tax is zero as long as you bank in another country. Then if you are not a resident in Uk.. Not in Portugal either.. You spend most of your time living in hotels and transportation in cheap beautiful countries so thats going to chew up your money as business expenses because you are on a 365 day a year business trip.

 

[Reboot]

Yeah. Why not. If you already have an address in the UK.. Use that to open a company in Gibraltar as a non resident. Then once thats done.. Leave the UK. The Gibraltan govt i guess reports back to the UK about your business but you arent in the Uk anymore. The Gib govt request books annually to see where the money is being spent but the corporation tax is zero as long as you bank in another country. Then if you are not a resident in Uk.. Not in Portugal either.. You spend most of your time living in hotels and transportation in cheap beautiful countries so thats going to chew up your money as business expenses because you are on a 365 day a year business trip.

And where to have the bank account, Gibraltar as well?
thanks
Carlos

 

[Nauticalnomad]

No. You cant have the bank account in Gibraltar. Rietumu in Latvia was a favorite.. But steer clear of them. They are out of bounds. The bank account can be anywhere. So Belize, Cayman or Cypress or where ever any of the guys on here have their banks. I know CIMbanque in Switzerland is a good one as well. But the thing is and it depends on the person and how they live. I dont spend too long in the once place and i prefer that. If you can live like a gypsy you can spend enough time outside tax jurisdictions to not be applicable.

 

[Reboot]

No. You cant have the bank account in Gibraltar. Rietumu in Latvia was a favorite.. But steer clear of them. They are out of bounds. The bank account can be anywhere. So Belize, Cayman or Cypress or where ever any of the guys on here have their banks. I know CIMbanque in Switzerland is a good one as well. But the thing is and it depends on the person and how they live. I dont spend too long in the once place and i prefer that. If you can live like a gypsy you can spend enough time outside tax jurisdictions to not be applicable.

So why not have the company also in Belize as it is outside of EU instead of Gibraltar?
thanks
Carlos

 

[Nauticalnomad]

You can i guess. But Gibraltar is although outside the EU.. Its tacked on to the side of it and recognized as EU.. Ive had people not want to pay invoices into a BVI company cause its BVI but would gladly pay Gibraltar as its connected to Spain geographically although it isnt EU. Gib is always in the EU news so people accept it. Most people wouldnt know where BVI was and the majority of those that do know it as a tax dodging place.

 

[Reboot]

You can i guess. But Gibraltar is although outside the EU.. Its tacked on to the side of it and recognized as EU.. Ive had people not want to pay invoices into a BVI company cause its BVI but would gladly pay Gibraltar as its connected to Spain geographically although it isnt EU. Gib is always in the EU news so people accept it. Most people wouldnt know where BVI was and the majority of those that do know it as a tax dodging place.

yep, makes sense. thanks

 

[Reboot]

Any user here works as an advisor consultant on offshore company /Bank Setup?

 

[lostguy]

Not many, but there are listed a few here Notable Members

 

[Reboot]

thanks