Beckam-Law (Spain) : Can someone clarify how it works?

[HeinzKetchup69]

I am aware under this law you don't get taxed at all if you receive foreign income.
However the questions remains the same, would it be trouble if you settle in Spain, manage an offshore company of which you are the only director,
and get paid in Salary/Dividends while in Spain? In terms of income tax I presume that income is not taxable but is there any reference noting
if CFC rules apply under the Beckam law or are they "forgotten" during those 5 years?

If not, is there a way to go around this?

 

[clemens]

With all respect, please use google to search the forum if you can't find or use the forums search function:

enter below in Google
Code:
site:offshorecorptalk.com backham law

There are several threads about it already
https://www.offshorecorptalk.com/threads/beckham-law-with-cyprus-holding.41596/https://www.offshorecorptalk.com/threads/moving-from-guatemala-to-spain-with-beckham-law.42796/https://www.offshorecorptalk.com/threads/relocation-to-spain-under-beckham-law.38413/https://www.offshorecorptalk.com/threads/spain-nomad-visa-gibraltar-company.42756/

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[Marzio]

HeinzKetchup69 said:
would it be trouble if you settle in Spain, manage an offshore company of which you are the only director,
and get paid in Salary/Dividends while in Spain?
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I suggest you to stay away from Spain, especially with a suicidal plan like the one you outlined.

HeinzKetchup69 said:
is there a way to go around this?
Click to expand...

Yes, either move to Andorra or Gibraltar

 

[HeinzKetchup69]

Marzio said:
I suggest you to stay away from Spain, especially with a suicidal plan like the one you outlined.



Yes, either move to Andorra or Gibraltar
Click to expand...

How can someone live 185 days out of the year in Gibraltar or Andorra? I think I'd shoot myself in a leg.

 

[uplana]

HeinzKetchup69 said:
How can someone live 185 days out of the year in Gibraltar or Andorra? I think I'd shoot myself in a leg.
Click to expand...

There's been a lot written about Gibraltar and Andorra, and our good friend @peter taradash has also shared quite a bit, along with many other users here on OCT. It really comes down to personal preference and temperament. If you're into a vibrant city life with lots of people and good infrastructure, then this might not be the place for you. But if you have the financial means to find or build yourself a comfortable home in these areas and can enjoy the peace and quiet, then it's perfect.

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[Marzio]

HeinzKetchup69 said:
How can someone live 185 days out of the year in Gibraltar or Andorra?
Click to expand...

Can i remind you that Gibraltar is 1h drive to Marbella?

You can use Gibraltar only as your sleep apartment.

But beside that you don't need to spend 183+ days in Andorra in Gibraltar or Andorra If you don't need a tax residence certificate.

If you don't do stupid s**t you can spend A LOT of time in Spain by flying under that radar.

 

[HeinzKetchup69]

Marzio said:
Can i remind you that Gibraltar is 1h drive to Marbella?

You can use Gibraltar only as your sleep apartment.

But beside that you don't need to spend 183+ days in Andorra in Gibraltar or Andorra If you don't need a tax residence certificate.

If you don't do stupid s**t you can spend A LOT of time in Spain by flying under that radar.
Click to expand...

When you run a successful business, 2 hours of your time means a lot. . .

 

[JackAlabama]

HeinzKetchup69 said:
I am aware under this law you don't get taxed at all if you receive foreign income.
However the questions remains the same, would it be trouble if you settle in Spain, manage an offshore company of which you are the only director,
and get paid in Salary/Dividends while in Spain? In terms of income tax I presume that income is not taxable but is there any reference noting
if CFC rules apply under the Beckam law or are they "forgotten" during those 5 years?

If not, is there a way to go around this?
Click to expand...

imo the only way to reliably stay clear of the Spanish drag net is the proven way of the retirees which limit their days below the yearly limit.

 

[Marzio]

HeinzKetchup69 said:
When you run a successful business, 2 hours of your time means a lot. . .
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Wait until self driving cars will be a thing and you would be able to work while driving from Gib to Marbella!

 

[daniels27]

Marzio said:
Wait until self driving cars will be a thing and you would be able to work while driving from Gib to Marbella!
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Just work in La Linea. You can go there by bike.

 

[HeinzKetchup69]

Marzio said:
Wait until self driving cars will be a thing and you would be able to work while driving from Gib to Marbella!
Click to expand...

Yes in 10-15 years, by then AI will have wiped out most online businesses.
The time is now. Make money now, because in 10-15 years times will be very very very tough for everyone.

 

[Marzio]

HeinzKetchup69 said:
When you run a successful business, 2 hours of your time means a lot. . .
Click to expand...

When you run a successful business you don't usually do $10/hour jobs like driving so buy someonelse's time.