Move money from UK LTD to UAE company

[Narco]

I own a business, the business is mine but the owner of the company is a family member, I am not linked to the company at all neither I live in the UK.

Is it possible for that LTD to send payments to me? Let's say I would charge the LTD marketing services which would be up to 80-90% of the profits.

Not looking for anything illegal, just a legitimate way to accomplish this as in the UAE is not easy as in the UK to get Stripe and such payment processors.

 

[CaptK]

If you live in the UAE there is other options depending on your situation.
Be careful regarding how you remit funds and how you file yoir accounts. Your family members‌ could get into trouble if they are seen as just a pass through.

 

[Sols]

Companies can't just send money to other companies. There has to be a sensible, explainable‌ reason that falls in line with the company's business activities.

While you're probably in the‍ clear for CFC and tax residency aspects, you might run into BEPS (Base Erosion and⁠ Profit Shifting) with this type of arrangement, so discuss it with a tax adviser in⁤ the UK before landing your family in trouble.

 

[Narco]

Sold advice,⁣ thanks. I will try to find a tax adviser.

 

[JustAnotherNomad]

You could look into things like a UK payment processing company that would be processing‌ the payments on behalf of the UAE company for a commission.
But definitely do look‍ into all the legal aspects of that, with regards to taxes, licensing etc.

 

[Narco]

Yes, still trying to find a knowledgeable tax specialist as this can⁤ end really bad with the wrong advice.

 

[JustAnotherNomad]

You could ask @Gediminas . Maybe he has an idea, but I’m not sure how‌ much experience he has with the UK.

 

[CaptK]

Whatever you do it has to be sensible and you will need to have some‌ back up emails and correspondence and something in the file in case they get stuck.‍
some kind ofbservice has to be rendered and a contract in place always help. Whether⁠ the UAE company is doing what they are supposed to do or not. You are⁤ bound by the contract terms.
this is only a short term solution.