Tax planning & structuring is a vital part of international business. This includes where to locate your business, what type of company and, of course, residency.
We offer impartial structuring advice, which amongst other things includes the best choice of jurisdiction, tax considerations and residency options. If, for example, you form a company without a proper thought, you may find that it is not suitable for the intended purpose. If you decide to sell your goods or services online and receive payments from PayPal or Amazon, you will find that these two companies do not accept all jurisdictions or indeed all banks. Likewise not all banks are happy with “Internet” business (selling from a website). All these points should be taken to consideration before making a decision.
The jurisdictions we offer range from trading companies in low tax countries to Freezone companies (generally tax free), through to typical IBCs (International Business Companies).
To meet our definition of ‘low tax’ a jurisdiction must have a maximum tax rate 17%, be reputable and thus be acceptable for international trading:
As the name suggests these are based in designated areas and usually free of company/corporation tax. Once set up, Freezones generally have minimum bureaucracy.
These offer zero tax, no VAT and are relatively low cost to form and run. IBCs are best suited for holding operations and discreet trading e.g. consultancy income.
With the coming of CRS (Common Reporting Standard) / Aeoi (Automatic Exchange of Information) there has never been a better time to review your residency and/or citizenship. This of course can be a combination of a much improved lifestyle together with substantially reduced personal and corporate taxation.
We can assist with residency and/or citizenship in the following countries:
The Common Reporting Standard (CRS), is a new global reporting standard for the automatic exchange of information (AEoI) set forth by the Organisation for Economic Cooperation and Development (OECD). By November 2016, over 104 countries - see this list - had agreed (in many cases under extreme duress) to “share” (i.e. report to other tax authorities via CRS) information on the assets and incomes of account holders of 3rd country residents in a standard format. CRS is far wider reaching than FATCA or TIEAs.
In essence, CRS is a pernicious attempt by the 35 member “rich country /high tax club” of the OECD (Headquartered in Paris no-one will be surprised to learn) to protect (the often excessive) tax revenues of its members. This follows, in the footsteps of FATCA as a masterpiece in extra-territorial jurisdiction. See this Canadian blog for a well-written summary.
We are able to introduce clients to a number of reputable banks offering a wide range of services. These are set out on our banking services page.
Whether for your own exclusive occupation, as a pied-à-terre with possible sub-lets in between visits or a commercial property investment, we can assist you. Property investment can provide you with a long term gain as well as the necessary address that you will need to prove your residency.
We offer a comprehensive property finding service in the five countries where we offer residency being Cyprus, Malaysia, Spain, Portugal and the UAE. In addition, we can offer a full property management services in Malaysia, the UAE and Cyprus.
Property finding service
In essence, we provide a short-list of suitable properties to buy or rent depending on the jurisdiction and type of residency sought. We can also offer assistance with furnishing properties and arranging utilities etc.
In Malaysia, Cyprus and the UAE we also offer a full management service including cleaning services, settlement of utility bills, and if applicable, sub-letting your property either on a long term basis or indeed short lets between your own periods of occupancy. For commercial property we introduce a reputable property management company.
Sometimes and for unexpected reasons a company may need to re-domicile. For example, since the ‘Panama Papers’ a lot of Panama companies are experiencing difficulties in opening / maintain bank accounts. Such a company could re-domicile to say Seychelles or Dominica.
Please visit our Re-domiciliation page for further information.