Recent content by Billybob69

How did Panama work out for you xnpu?

But you would need some director elsewhere for the UK to not tax a US LLC right?

Have you made any progress with this?

How could this be considered a security? Where is the "investment of money in a common enterprise"? If all OP does it create the token and distribute it for free, I can't imagine it meeting the requirements of the Howie test...

I mean more straightforward things like: issuing and selling NFTs, issuing and selling a utility token, meme coin, etc

So... RIP to any crypto companies? I am of a pretty similar opinion, yet seems to be lots of them running around, just a ticking timebomb?

Hello people, There's no doubt about it, crypto is back, yet I have not found much discussion on this forum about operating crypto based businesses, most people only seem invested in crypto on a personal level. Regulations are getting tougher and tougher on crypto based businesses, but I'm...

Thanks for the information. In this case it would be very feasible for the director to live between multiple countries as a tourist, not picking up tax residence anywhere, they are a British citizen. I’ve heard many mixed opinions on whether it is possible to be tax resident nowhere, the UK...

Thank you for the discussion guys, however in the situation I am describing, the UK company already exists, and a new company would only be useful going forward for future business. If anyone has other ideas how one could in theory have a tax free salary whilst working for a UK company, I'd...

Hello, please send me a message, would like to talk Cyprus

14 times the annual profit!? Do you have a source on that? :O

Outsource what? To a UAE company? I don't think a director of a UK company is able to invoice their own company, they can only take a salary or dividend.

The company would be in scope of UK corporate tax for previous profits before the move, though I think you are correct that in future it may be taxable in the UAE at the corporate level. One thing I'm very curious about is if that happens, and the company makes a loss next year, would it be...

Indeed, there is a tax treaty, and it seems to imply the situation I have described where the work is taxed based off the location it is done. I'm not sure why dividends would be better, you would pay 25% CIT to the UK, only then can a dividend be distributed.

Hello good people of OCT! If one were a director of a UK LTD company, and they were to live and work in the UAE, it would appear to me that this salary would be taxable in the UAE. I have had service providers tell me otherwise, I suspect that they would prefer to be paid for the incorporation...