UK NON DOM & COMPANY OVERSEAS

[Juoffshore]

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 !

 

[JohnLocke]

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.

 

[Juoffshore]

thanks for your recommendations @Admin !

 

[Martin Everson]

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

 

[Juoffshore]

@Martin Everson yes he invest with foreign money ! Thanks !

 

[Juoffshore]

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

 

[Martin Everson]

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