Malaysian Government Client asking for Tax Residency Certificate for Seychelles IBC-what to do?
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You should start something like a UK company. You would pay out salary or fees to the workers and to yourself, and the︀ UK company is tax resident in the UK by default so you can get a︁ tax resident certificate (not sure how easy it is to actually get a tax residence︂ certificate). Maybe the client won't require that for a UK company.
Wow. Finally I found another Indian who face the same s**t I face.
I have a UAE Freezone company and was living in SE Asia.
Now with the new laws by modi govt. I am f***d.
Looking at finding alternate solutions for tax free life.
Did you resolve your issue brother?
I have a UAE Freezone company and was living in SE Asia.
Now with the new laws by modi govt. I am f***d.
Looking at finding alternate solutions for tax free life.
Did you resolve your issue brother?
Chucking the Indian citizenship is the best solution as I have deduced.
If not the citizenship atleast you need to be resident in another country.
It is still a work in progress for me.
If not the citizenship atleast you need to be resident in another country.
It is still a work in progress for me.
But that is goung to be taxed in the USA so whatever you gain you again lose isnt it?Maybe a tax free state in rhe US might wtill be an option.Maybe next year- this is the year of corona.
Okay , with employees in USA this wont work.
I got this pdf from a website some time ago.
Explains the process.
I have 0 employees in US and plans to maintain it that way. So thats my plan till I exit India.
Hope you find solution for your issue soon too.
All the best brother.
I got this pdf from a website some time ago.
Explains the process.
I have 0 employees in US and plans to maintain it that way. So thats my plan till I exit India.
Hope you find solution for your issue soon too.
All the best brother.
Yes, bank account will be another issue but if they are in the same name he can use the UK, Unique Taxpayer Reference (UTR) number to satisfy the client requirements. Can be done in a day and every company whether they pay tax or not get one generated automatically if they don't apply for one.
But a UTR isn’t a tax residency certificate, is it? It’s more like a company ID, isn’t it? It doesn’t confirm that the company is tax resident in the UK? Much like an EIN or ITIN only is an ID the IRS assigns you, so you can fulfill your filing requirements, but it doesn’t mean you or your company are a US tax resident.
It is your Unique Tax Reference Number. That is the number you use to pay your tax. There are no other reference number to pay tax for a Company. By its very definition it's confirmation that︀ you are registered for tax in the UK. Even a pass through LLP still has︁ one and even though you register zero filings.
So it is not a tax residency certificate (CoR).
A quick Google search turned up this:
https://www.gov.uk/guidance/get-a-certificate-of-residence
You may be able to deceive the other party with your UTR number, but it is clearly in a completely different category than a CoR. You won’t be able to get a CoE. And only the CoR would give you access to treaty benefits.
I am sure that you were perfectly aware of this.
A quick Google search turned up this:
https://www.gov.uk/guidance/get-a-certificate-of-residence
You may be able to deceive the other party with your UTR number, but it is clearly in a completely different category than a CoR. You won’t be able to get a CoE. And only the CoR would give you access to treaty benefits.
I am sure that you were perfectly aware of this.
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