Beckam-Law (Spain) : Can someone clarify how it works?

[HeinzKetchup69]

I am aware under this law you don't get taxed at all if you receive foreign income.
However the questions remains the same, would it be trouble if you settle in Spain, manage an offshore company of which you are the only director,
and get paid in Salary/Dividends while in Spain? In terms of income tax I presume that income is not taxable but is there any reference noting
if CFC rules apply under the Beckam law or are they "forgotten" during those 5 years?

If not, is there a way to go around this?

 

[clemens]

With all respect, please use google to search the forum if you can't find or use the forums search function:

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site:offshorecorptalk.com backham law

There are several threads about it already

Beckham Law with Cyprus Holding

What do you guys think about the following setup? - Person A is employed by Company A in a EU country (not Spain) - A moves to Spain and makes use of Beckham Law - A has a holding company in Cyprus that holds shares in a variety of companies in EU, including Company A - The holding company in...

www.offshorecorptalk.com

Moving from Guatemala to Spain with Beckham Law

Hello everyone! My wife and I have decided to move temporarily to Europe and I have a question on how to best set up our business. Background: We are a couple from Guatemala. I have my Guatemalan passport (birth), and German and Spanish passports by ancestry. Wife only has a Guatemalan...

www.offshorecorptalk.com

Relocation to Spain under Beckham law?

I've found a few threads on the forum about Spain and the Beckham law, but curious since my situation seems to be a bit different. I'm an entrepreneur with different private equity interests in profitable private businesses in a smaller EU country. These have been built up over the last 5+...

www.offshorecorptalk.com

Spain Nomad visa / gibraltar company

Hi, with the new easy Spainish nomad visa and the Beckham law ( no tax on overseas dividends) could I live in Spain and open a company in gibraltar company flipping vintage cars in the USA and pay no tax on that income? from what I read you only pay tax under the Beckham law on SPAINISH income...

www.offshorecorptalk.com

 

[Marzio]

would it be trouble if you settle in Spain, manage an offshore company of which you are the only director,
and get paid in Salary/Dividends while in Spain?

I suggest you to stay away from Spain, especially with a suicidal plan like the one you outlined.

is there a way to go around this?

Yes, either move to Andorra or Gibraltar

 

[HeinzKetchup69]

I suggest you to stay away from Spain, especially with a suicidal plan like the one you outlined.



Yes, either move to Andorra or Gibraltar

How can someone live 185 days out of the year in Gibraltar or Andorra? I think I'd shoot myself in a leg.

 

[uplana]

How can someone live 185 days out of the year in Gibraltar or Andorra? I think I'd shoot myself in a leg.

There’s been a lot written about Gibraltar and Andorra, and our good friend @peter taradash has also shared quite a bit, along with many other users here on OCT. It really comes down to personal preference and temperament. If you're into a vibrant city life with lots of people and good infrastructure, then this might not be the place for you. But if you have the financial means to find or build yourself a comfortable home in these areas and can enjoy the peace and quiet, then it’s perfect.

 

[Marzio]

How can someone live 185 days out of the year in Gibraltar or Andorra?

Can i remind you that Gibraltar is 1h drive to Marbella?

You can use Gibraltar only as your sleep apartment.

But beside that you don't need to spend 183+ days in Andorra in Gibraltar or Andorra If you don't need a tax residence certificate.

If you don't do stupid s**t you can spend A LOT of time in Spain by flying under that radar.

 

[HeinzKetchup69]

Can i remind you that Gibraltar is 1h drive to Marbella?

You can use Gibraltar only as your sleep apartment.

But beside that you don't need to spend 183+ days in Andorra in Gibraltar or Andorra If you don't need a tax residence certificate.

If you don't do stupid s**t you can spend A LOT of time in Spain by flying under that radar.

When you run a successful business, 2 hours of your time means a lot. . .

 

[JackAlabama]

I am aware under this law you don't get taxed at all if you receive foreign income.
However the questions remains the same, would it be trouble if you settle in Spain, manage an offshore company of which you are the only director,
and get paid in Salary/Dividends while in Spain? In terms of income tax I presume that income is not taxable but is there any reference noting
if CFC rules apply under the Beckam law or are they "forgotten" during those 5 years?

If not, is there a way to go around this?

imo the only way to reliably stay clear of the Spanish drag net is the proven way of the retirees which limit their days below the yearly limit.

 

[Marzio]

When you run a successful business, 2 hours of your time means a lot. . .

Wait until self driving cars will be a thing and you would be able to work while driving from Gib to Marbella!

 

[daniels27]

Wait until self driving cars will be a thing and you would be able to work while driving from Gib to Marbella!

Just work in La Linea. You can go there by bike.

 

[HeinzKetchup69]

Wait until self driving cars will be a thing and you would be able to work while driving from Gib to Marbella!

Yes in 10-15 years, by then AI will have wiped out most online businesses.
The time is now. Make money now, because in 10-15 years times will be very very very tough for everyone.

 

[Marzio]

When you run a successful business, 2 hours of your time means a lot. . .

When you run a successful business you don't usually do $10/hour jobs like driving so buy someonelse's time.