Quote:
Originally Posted by Webby
Ah.. also... It is fairly common in that field to have a corp based in a low or zero taxation area and have... eg.. LucasFilm S.A. blah (tho avoid that one!  )
The reasons are sound in that projects like movies are examples where five years can be spent on planning/scripting etc - then in one year the final product is released and earns money, and the earnings within that tax year are going to be estimated and grabbed at a higher rate. In a way this is unfair, since you spent five years not earning, then the profits are "confiscated".
Sooo.. again, better to give some thought to establishing your production company in a zero taxation area. Panama is a typical example for this type of business. |
You ASTOUND me with your knowledge dude! And, for once on gfy, I actually mean that! lol I THINK I understand. We've moved here permanently now and I own no businesses outside Malta. In fact, I don't really own a business in Malta. I just work online for time being. I know for personal income tax malta has an upper band of only 35% (not sure of corp tax here).
I think I'd be happy registering a LTD here. Do you think that would be ok? Reg here and setup a business account with say HSBC or the bank of Valetta. I'm still eligible to pay UK income tax because we're still technically temporary residents. You can be a temp res in Malta for 50 years if you want. The advantage however of becoming permanent is the 35% tax. So even if I'm a temp resident in Malta, and still paying UK income tax, it'd be ok for me to reg a corp in Malta?
Sorry for all the questions!