Recent content by babaorum

Localbitcoin. You send bitcoin to an escrow, the other person sends fiat to the escrow. You receive the fiat on your bank account.

You can't avoid capital gains tax if you move abroad for less than 5 years. UK and many other countries have temporary non-residence rules. You'll have to pay the taxes when you come back. Tax if you return to the UK

That already exists, check out the ticker GBTC. As it's not an etf, it often trades at a significant premium and sometimes discount so there is that risk to pay attention to as well.

Yes, you are right if it's a fund, you aren't taxed as you hold shares of the fund. I guess that's what would happen if you held shares of $GBTC. I initially thought you meant exchange and not fund.

Exchange tokens are definitely taxable in the UK, no matter who holds the private keys. At least that's the opinion of all the tax professionals I spoke too. That being said, this is just the interpretation that HMRC makes of existing laws considering the situs of intangible assets and it has...

The situs of exchange tokens is that of their owner. Doesn't matter if they're held on a foreign exchange. Exchange tokens are like bitcoin or ethereum. However HMRC makes a difference between exchange tokens, utility tokens and security token. The situs of the last two has not been decided in...

It doesn't really matter if the company is incorporated in the UAE. If I'm resident in the UK and I control the company from the UK, the company is UK resident and will pay corporate tax in the UK. Additionally, I'm not looking to avoid paying corporate tax.

No, I have been a non-dom in the past while running a business in the UK and my accountant at the time said it was fine. I also read all the HMRC guidance and there was no mention of such but happy to be proven wrong :)

Hi, I'm planning to become a UK non-dom and open a UK ltd. The company will be taxable in the UK. Can I have a foreign holding company owning the shares of the UK ltd which would then pay me dividends on a foreign account? With the non-dom status, that would not be taxable. Is this a way to...

Do you have a source? I couldn't find any HMRC guidance on this.

If one: - files taxes in the UK as a non-dom - has a company in an offshore tax-haven - the company is controlled by him so the company's profits are taxed in the UK at 19% - the company issues him dividends paid into an foreign account Will the dividend be considered foreign-sourced and not be...

My understanding is that being "resident" just means having a valid residency card. The language used support that interpretation - because it says being resident for at least 180 days which implies that once residence starts, it is not discontinued. Otherwise, it would have been 180 days per...

Thank you for your response. Is there some rough guideline regarding how long one has to stay?

In order to maintain residency once one has a visa, they have to visit the UAE at least once every 180 days. However, the conditions to maintain tax residency are unclear. The Ministry of Finance website lists the following: It is unclear whether one has to spend any time in the UAE - apart...

Thank you! Would you know if, generally, company formation fees needs to be paid out before the approval process is completed and what would happen if they're unhappy with the documents I end up providing?