European Nomad IT Contractor - residing in 'naughty' country + tax resident of nowhere - UK LLP -> US LLC setup
- Thread starter MementoMori999
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Did you consider the high (25%)withholding tax on dividends from Ireland,︆ unless you can provide a tax residency certificate from a country that has a tax︇ treaty with Ireland?
I'm no expert on Ireland, but it might be problematic paying yourself︈ as an independent contractor when you are the owner and director of the company.
I think a UK Ltd would be the simplest. You can take a tax free salary︉ if you don't live in the UK. Ireland taxes salaries to non resident directors.
I'm no expert on Ireland, but it might be problematic paying yourself︈ as an independent contractor when you are the owner and director of the company.
I think a UK Ltd would be the simplest. You can take a tax free salary︉ if you don't live in the UK. Ireland taxes salaries to non resident directors.
No I didn't know this... doesn't sound good. Who does this - is it the bank who withholds the payments?
Yes, that's the weakness here.︁ I'd be creating an umbrella company, be the director of it, and the sole independent︂ contractor also. My understanding is that it's technically legal, but it would raise an eyebrow.︃ At first I thought I could then take on other contractors (and make it a︄ more 'real' payroll umbrella company), but then I thought I could keep hunting around for︅ one that is willing to disperse the full payments to me (no withholding) with a︆ contract saying that I have full tax liability (and pay them an admin fee). The︇ latter is probably easier.
Can a UK Ltd really provide me with a tax free︈ salary (no corporate income tax)? I thought that was only UK LLPs... If so that's︉ well worth investigating
ChatGTP just spat out this...
I assume this is what you are talking about?
And I can︍ use a Service Office for my UK LTD sole directors and shareholders address?
Yes, that's the weakness here.︁ I'd be creating an umbrella company, be the director of it, and the sole independent︂ contractor also. My understanding is that it's technically legal, but it would raise an eyebrow.︃ At first I thought I could then take on other contractors (and make it a︄ more 'real' payroll umbrella company), but then I thought I could keep hunting around for︅ one that is willing to disperse the full payments to me (no withholding) with a︆ contract saying that I have full tax liability (and pay them an admin fee). The︇ latter is probably easier.
Can a UK Ltd really provide me with a tax free︈ salary (no corporate income tax)? I thought that was only UK LLPs... If so that's︉ well worth investigating
ChatGTP just spat out this...
I assume this is what you are talking about?
And I can︍ use a Service Office for my UK LTD sole directors and shareholders address?
Your Irish Ltd should withhold the taxes, no the bank doesn't do︅ it.
UK doesn't tax salaries paid to non residents. And this includes directors salaries, but︆ careful about spending any time in the UK then.
The Ltd company still has to︇ pay tax on the company's profit. However the profit might be small after it has︈ paid the salary to you.
UK doesn't tax salaries paid to non residents. And this includes directors salaries, but︆ careful about spending any time in the UK then.
The Ltd company still has to︇ pay tax on the company's profit. However the profit might be small after it has︈ paid the salary to you.
Certainly, I can do that. It's quite clear that you can handle a company differently if the company is not in the same country as you are registered in. This applies not only to Switzerland but to all countries. It seems like authorities are more indifferent as long as it's about smaller amounts and seals, as they know that so far, it's almost impossible to get anything out of going after them.
And what specific things this could be, of course, I will not elaborate on here or for that matter in a PM︀ either.
And what specific things this could be, of course, I will not elaborate on here or for that matter in a PM︀ either.
I work in IT with US and UE companies, I have a San Vincent and the Grenadines LLC ( 1000$ per year ) + UAE Residency with Remote Work visa ( 1000$ per year ). My LLC uses Wise as the only bank.
No taxes so far and never had any issue with people working with me, as my company is not blacklisted. Torunaround is 150-200k USD. For me it's the easiest possible setup. I Live as a digital nomad between Ibiza - dubai - Milan - other places.
No taxes so far and never had any issue with people working with me, as my company is not blacklisted. Torunaround is 150-200k USD. For me it's the easiest possible setup. I Live as a digital nomad between Ibiza - dubai - Milan - other places.
Can you suggest which EMIs are ok to work with SVG or other companies? Clear work, payments from big EU companies, in EUR, nothing illegal. thank you
Yes they don’t anymore…
Also what about SVG LLC or BC? It appears that BC is better structured with director and shareholder, rather than the LLC which is passive
Also what about SVG LLC or BC? It appears that BC is better structured with director and shareholder, rather than the LLC which is passive
so this setup is no longer available because Wise doesn't work︀ with San Vincent and the Grenadines? Any other decent EMIs?
Anyway suppose I do a︁ US LLC being resident in UAE, I imagine there are more banking options then. Won't︂ UAE consider this a CFC (Controlled foreign corporation) and there will be a need to︃ declare it and pay 9% profit tax in UAE?
Anyway suppose I do a︁ US LLC being resident in UAE, I imagine there are more banking options then. Won't︂ UAE consider this a CFC (Controlled foreign corporation) and there will be a need to︃ declare it and pay 9% profit tax in UAE?
What is some setup like this?
Tax residence of company in different country will be in country you are registered in︁ so tax will be same. Advantages are more than tax?
How long do you have to spend in UAE︃ to keep residency?
If Wise cancel your account because of︇ SVG what will be your backup?
Tax residence of company in different country will be in country you are registered in︁ so tax will be same. Advantages are more than tax?
How long do you have to spend in UAE︃ to keep residency?
If Wise cancel your account because of︇ SVG what will be your backup?
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