I received varying advice from different advisors in Portugal, thought I would check here to see if anyone has some extra input. I'm aware I would not be able to return to then UK for at least 5 years and 1 day due to temporary non residency rules.
Sole director of a UK LTD that has zero active trade, holds investments purely passive(no real estate). Was told it "should" be possible to move to Portugal and under the NHR, to withdraw these profits tax exempt by simply appointing a UK resident director to "manage" the investments. In order to keep the effective place of management in the UK I would fly back quarterly to conduct board meetings. I was told this structure would be very unlikely to raise suspicion and was very unlikely to be investigated, but those words did not fill me with confidence.
I am guessing an actual physical office(not just purchased address), with staff on payroll and proof of actual costs of running an active investment strategy be required to stop the new country of residence deeming the whole structure to be artificial in order to avoid tax. Even then as the investments would be purely passive with no active trade taking place, even with the extra precautions it seems like it would fall apart on close inspection.
Sole director of a UK LTD that has zero active trade, holds investments purely passive(no real estate). Was told it "should" be possible to move to Portugal and under the NHR, to withdraw these profits tax exempt by simply appointing a UK resident director to "manage" the investments. In order to keep the effective place of management in the UK I would fly back quarterly to conduct board meetings. I was told this structure would be very unlikely to raise suspicion and was very unlikely to be investigated, but those words did not fill me with confidence.
I am guessing an actual physical office(not just purchased address), with staff on payroll and proof of actual costs of running an active investment strategy be required to stop the new country of residence deeming the whole structure to be artificial in order to avoid tax. Even then as the investments would be purely passive with no active trade taking place, even with the extra precautions it seems like it would fall apart on close inspection.
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