Question Uk resident Non Dom with Offshore company

[happylog]

Hello,

I'm a EU resident. I plan on moving to uk with 60k euros ( already declared in my country ) and getting a resident non dom status, living more than 183 days per year in uk. I currently have online ( not in uk market ) business company in my country.

After moving to uk, I plan on creating an offshore company and moving all my online business to it.

I will also create a uk self employed company for a part of this online business to get some revenue ( something like 35k pound per year )

All revenue from the offshore company will go to a luxembourg ( or another country ) personal account.

I will eventually go back to my country once the online business dies ( maybe in 4 or 5 years ) and transfer the money in the luxembourg personal account to my eu country personal bank account.

1) Could it work doing it this way?
2) Where should I create the offshare company?
3) What tax should I pay transfering offshore company dividends to a personal luxembourg ( or another country in eu ) account.
4) My eu country won't tax me if I wire the money from the luxembourg personal account to my eu country personal account as i was uk resident?

Thank you.

 

[Martin Everson]

1) Could it work doing it this way?

Will place of management, control and operations of the offshore company be in the UK?

2) Where should I create the offshare company?

Wherever you like.

3) What tax should I pay transfering offshore company dividends to a personal luxembourg ( or another country in eu ) account.

Depends on setup and location of offshore company. Potentially Withholding Tax you would need to apply to the dividends paid out but again depends on offshore company.

4) My eu country won't tax me if I wire the money from the luxembourg personal account to my eu country personal account as i was uk resident?

Correct as long as your no longer considered resident in your EU country.