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UK NON DOM & COMPANY OVERSEAS

Discussion in 'TAX Issues or Questions' started by Juoffshore, May 18, 2018.

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  1. Juoffshore

    Juoffshore New Member

    Hello Everyone,

    One of my customer has 'UK NON DOMICILIED' statut. (He is allowed to pay tax only on his local income and not on his worlwide incomes if the funds are not remitted into the UK)

    He has successful businesses in the UK and wants to devellop his new activities outside the UK, in Matla for Tax purposes.
    He is aware of the management central control of the company, and he will rent a local office, hire local employees, appoint a local director and take all the decision outside the UK in Matla (including board meetings). I have advised him to travel once a month to malta, to
    He will get the dividends outside the UK in order to avoid the remittance basis.

    We know that Malta will reports his account or company to the UK autorities, but could anyone can confirm that if he proof the the management of control of the company is in Malta he won"t have any tax issue ?

    Have you got any recomendations for him ?

    Thanks in advance !
     
  2. Admin

    Admin Forum Moderator The Forum Cleaner

    The way you want to setup the company in Malta sounds to be the right way of doing this. If it finally will be approved by the UK tax authorities is not something anyone here can tell you. According to general tax laws this should work, but things are not static when it comes to tax.
     
  3. Juoffshore

    Juoffshore New Member

    thanks for your recommendations @Admin !
     
  4. Martin Everson

    Martin Everson Offshore Consultant Business Angel

    Don't take the money from the UK as res non-dom to start business in Malta. Take from abroad.
     
  5. Juoffshore

    Juoffshore New Member

  6. Juoffshore

    Juoffshore New Member

    The company in Malta propose me to add a fiduciary service (which is an optional services), the only advantage is that the name of the UBO would not be disclosed on company documents
    On the other side, They will disclose the information to the Registry of Companies (as part of the Fourth AML Directive – not available to the public), through AEOI and to the bank.

    Do you think it's a good a idea to use a fiduciary service as my client is UK NON DOM ?

    Thanks in advance
     
  7. Martin Everson

    Martin Everson Offshore Consultant Business Angel

    Whats the point of using one? Makes no sense to do so.