Hello and merry christmas!
I indefinitely moved to Colombia a few months ago, I am a UK citizen that runs a solo member UK LTD offering consultancy services. Most of my clients are based in the states.
Since corporation and personal income taxes are very high here what would be the best setup? I spoke with a couple of accountants here but got contrasting info.
I see two main routes:
- Maintain my UK LTD and keep my main tax residency in UK. Then pay the difference in the money I take out between UK and Colombia (CFC is a big issue here though as I dont want the UK company to be considered a Colombian tax resident)
- Create an anonymous LLC? I have researched a lot about this but still don't understand the full implications (from what I gather US doesnt exchange info with Colombia)
I am pretty okay with not having a bank account here and only using foreign cards as I don't own any assets in this country, but I don't want to create the wrong setup and regret it later.
I indefinitely moved to Colombia a few months ago, I am a UK citizen that runs a solo member UK LTD offering consultancy services. Most of my clients are based in the states.
Since corporation and personal income taxes are very high here what would be the best setup? I spoke with a couple of accountants here but got contrasting info.
I see two main routes:
- Maintain my UK LTD and keep my main tax residency in UK. Then pay the difference in the money I take out between UK and Colombia (CFC is a big issue here though as I dont want the UK company to be considered a Colombian tax resident)
- Create an anonymous LLC? I have researched a lot about this but still don't understand the full implications (from what I gather US doesnt exchange info with Colombia)
I am pretty okay with not having a bank account here and only using foreign cards as I don't own any assets in this country, but I don't want to create the wrong setup and regret it later.
