Will any European Tax authorities tolerate an offshore foundation

[kyler565]

I have an offshore foundation and I'm considering moving. Wondering if its possible to use the foundation in Spain or another European country(Italy, Greece, Russia) . I know Spain has horrible taxes but if holding a portion of assets in a foundation and not in my name can reduce the tax burden it could work for me

 

[Martin Everson]

Wondering if its possible to use the foundation in Spain or another European country(Italy, Greece, Russia) .

I don't know off head of any European country that will not tolerate an offshore foundation. Most just have different tax treatment from transparent for tax purposes to heavily taxed.

I know Spain has horrible taxes but if holding a portion of assets in a foundation and not in my name can reduce the tax burden it could work for me

If you have any sort of money then the word "Spain" should not be in your vocabulary other than when used with the word "holiday" or "exit". Spain makes Canada look like a tax haven.

 

[Gediminas]

I have an offshore foundation and I'm considering moving. Wondering if its possible to use the foundation in Spain or another European country(Italy, Greece, Russia) . I know Spain has horrible taxes but if holding a portion of assets in a foundation and not in my name can reduce the tax burden it could work for me

Hey,

Lichtenstein or the Netherlands are probably the most popular countries to set up the foundation in EEA.

Dutch foundation (Stichting) is a legal entity and can own assets worldwide.

Foundation does not need to submit FS, it does not pay corporate income tax, however, if it starts economic activities, it might become taxable as any Dutch entity.

Eventually, taxation depends on many factors such as your residency, underlying assets, and their location.

Generally speaking, a foundation gives you more privacy and asset protection (if properly structured). This is especially relevant to the Lichtenstein Foundation, since Lichtenstein is not a part of the Lugano convention, it means that local courts do not recognize foreign court decisions.

It is more expensive to set up and maintain but might give much better asset protection in the long run in comparison to Dutch Stichting.

 

[Jerry1911]

I have an offshore foundation and I'm considering moving. Wondering if its possible to use the foundation in Spain or another European country(Italy, Greece, Russia) . I know Spain has horrible taxes but if holding a portion of assets in a foundation and not in my name can reduce the tax burden it could work for me

You'll probably have to contact a local tax advisor and obtain a tax ruling. Chances are it will most likely be treated as tax transparent. Look into LexisNexis private client guides as well.

It is more expensive to set up and maintain but might give much better asset protection in the long run in comparison to Dutch Stichting.

How much would it approximately cost to set up a STAK for the purpose of holding shares in a Cyprus company? Is it usually the STAK which sets up the company or are the shares transferred to the STAK afterwards?

 

[Mr Gus]

I have an offshore foundation and I'm considering moving. Wondering if its possible to use the foundation in Spain or another European country(Italy, Greece, Russia) . I know Spain has horrible taxes but if holding a portion of assets in a foundation and not in my name can reduce the tax burden it could work for me

Well all of the non-dom countries could work.

In the Netherlands there are rules about this: Trust income and Dutch tax implications - Broadstreet