Quote:
Originally Posted by Kristian
So if I register a UK LTD and then become a Maltese resident, this might cause problems?
What do you recommend?
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OK.. Getting ya! No, not so much that angle... Consider if you will end up non-resident in the UK in the future. If you spend most of your time in eg Malta you will not be required to file any tax returns in the UK.
Depending where you may end up spending most time, there can be enormous tax advantages - or no tax. For example... there is a lowish tax rate in Malta. If you spent most of your time there and were "released" from UK taxation, there is a case of having your business corp base in another low or no tax area and only pulling whatever funds you need into Malta.
If on the other hand you were spending most of your time in Malta or anywhere else, and still had an operational business in the UK, you are liable to normal UK citizen tax liabilites on this.
Soooo.. basically better to consider where you want to live and if that is outside the UK, avoid commercial dealings or companies there.
BTW.. Just to clarify... non-residency in the UK is not related to citizenship. You will still remain a UK citizen, but resident elsewhere. And.... that residency need not be formal as far as UK taxation is concerned - you can live where you like or country-hop around the globe - as long as there is no "earnings" from UK activities. It also does not inhibit you from spending some time in the UK each year - there is a scale for this and as long as you don't exceed the time period, you are not subject to taxation in the UK.
OK.. Got that bit?
