Transferring funds out of a company

[12345]

Let's say I run a company in european union country like France, Germany, Spain
Then I move out to 0% tax jurisdiction for example Bahamas. I stay there for lets say 2 years, become a tax resident there which cannot be questioned by anybody, no ties to my previous country.
Then I choose to cashout dividends or sell the entire european company, how would it be taxed then ?
Sorry if its a newbie question. Thanks

 

[Martin Everson]

There are two parts to this. You can be tax resident in Bahama and still be considered tax resident in your European country. It is perfectly possible to have multiple tax residencies.

Now it comes down to whether the European country considers you a non-resident after leaving meaning you have cut all local ties to the country. However in certain country like Spain if you live there a certain number of years and then leave the EU entirely you will have to pay exit tax depending on size of your share holdings. I discussed something similar below in another thread.

For example if you lived in Spain and had a current portfolio of over 4m euros if you tried to leave Spain to avoid capital gains tax in future you will be hit with Spain's 'Exit Taxation'. You will be taxed on unrealized gains in your stock portfolio at 23%. However if you move to another EU country you will only need to declare and be taxed on gains if you sell within 10 years or then move outside EU...lol. Still a long time to be watched by home country.

Basically you need to get professional tax advice from whichever country you live in regards to the shares you own in a company you want to sell after leaving the EU country.

P.S Countries like Spain and Poland are terrible for Exit Taxation but each country in EU implements it differently.