Quote:
Originally Posted by Kristian
Does it make sense? Does it ever! I was never very good at this but I think I get it now. I think this is how it would work in my case, once becoming a Maltese resident (because as long as Im temporary, I'm sure I have to pay UK tax and Maltese, but one writes off the other ... need to speak to a local accountant!). I become a permanent Maltese resident. I setup Kristian'sMovies LTD in Panama. We make movies and make a shitload of casholla. Malta only charges income tax on money that is changed into Maltese Lira in Malta. So I basically would only be taxed on what I spent during the year and it would probably be a low %. I THINK thats it!
Really thanks a lot Webby. You always go out of your way to give in-depth advice.  |
Hehe - ya got it
I'd seriously check out a local accountant and get advice on your local tax implications - and possibly contact your accountant in the UK if you still have one handy. Suspect either or both of them will come up with comment about not being liable for taxation in the UK (tho this depends on whether you still have property there or possibly renting it out - and where the rental would be subject to UK taxation, but none of your "foreign earnings" will).
This really involves taking 10 steps backwards and looking in on possible scenarios - then usually involves working from the back to front and forming your corp structure. But.... the benefits are awesome and worth every moment doing it