Could you take a loan from a foreign entity and bring it into the uk or Ireland instead of taking a corporate distribution from it and not get it taxed? Since your not remitting income your just borrowing it. Similar to how people borrow against stocks instead of selling them to avoid capital gains tax.
Does this work if you're British or Irish but haven't lived or visited there for more than 3 years?( Does one not obtain Irish domicile after only 3 years or less? Would it work just living there for less than 6 months a year or do they apply a 300 day in 3 year rule?
Would non-DOM in the UK such as England or Ireland work for a person who’s early retiree about 60 years old with dividends as income? And Social Security?
Does this take precedence over the CFC rules in the UK? Say I have a home office in the UK working online for my Dubai registered real estate business (as a sole proprietor); will I be subject to corporate tax even if my income is not remitted back to the UK.
What about management and control rules for foreign companies owned by UK residents. Normally if you manage and control a company registered outside the UK, if you are resident in the UK, the company is still considered British and you must pay corporate tax and dividend income tax. Won’t this impact the non-dom strategy of getting dividends out of foreign companies because for the HMRC they will not be treated as “foreign”
@@nascobas2038 yes it’s tricky. If you are Roman Abramovic and have a huge coporation and shares in foreign companies that you don’t directly control, in that case it can work. M&C rules are tricky. Some people fly over to the countries where they registered their buisnesses say Jersey just to attend board meetings but even in those cases HMRC can decide to consider the company UK tax resident if there is enough evidence to point out that the foreign management and foreign board meetings are not properly held
@@nascobas2038 also if you make less that 100-200 k pounds per year then non-dom is a bad idea. The UK gives various benefits to all residents so you can avoid paying a lot of income and capital gains tax if you don’t make huge amount of money. Non-dom makes sense once you really start making a lot of money
I’d love to live in London and I had an interview with both an immigration lawyer and a tax lawyer. I was really surprised that in the UK , it’s easy as a foreigner to become a non domicile resident and I could even become a citizen in 5 years . I know London very well and love it so much and the only reason stopped me from retiring there is the weather and Brexit. P.S : Few years ago , it was a big scandal in the British media about non domicile people in the British parliament. The government made it illegal after it became public.
@@OffshoreCitizen Because of my back pain issues I had to delay my plans to retire in Portugal . But few days ago , I found a “ medical concierge “ company through an expat group and they seem to offer the medical and home care services I need. So there is hope for me after all .
Hello Michael What if I have the Non Dom Status in the ail but work as a day trader using a Us Broker Are the profits considered foreign income or would they be taxed because considered to be generated out of the UK?
I'm confused. Thank you for all your information on your channel. Could I move to London as an American citizen and get this non-dom thing and pay low taxes in TOTAL?? I mean, kind of like Dubai is... thank you for your kindness.. I am not sure..
As usual great video. What visas are the clients coming into the UK or Ireland on as not easy to get in. The skilled migrant visa in UK and Ireland around the £40k mark unless you got £2m for the investor visa?
@@OffshoreCitizen Because walking down Oxford street is starting to look like a mix between Karachi and Lagos, and that brings a profound sense of loss and alienation in your own home as a westerner. This trend has grown over recent years beyond any reasonable level and shows no sign of stopping (to say nothing of birth rates). If you want to keep London as a European city, much less a British city, the trend must be reversed and quickly too.
They already have made it hard. We are like Oz and US now you need to be skilled and earn like £40k. Brexit is a load of rubbish nothing has changed really. I live in northern Ireland so hold both passports UK/Ireland. A that has happened is prices have gone up which I think was their plan anyway to deflate the £1.6 trillion debt.
@@igottheshaft Hate to break it to you,... but your culture is gone. Just like the US,... there is no "reversing",... only "escaping",... unless of course, one simply desires living in a cess pool.
Michael, when we have our phone call I would like to discuss the Non-Dom Program in Ireland. My father is a dual US/Irish citizen and I have spent a lot of time in Ireland and love it there. I look forward to discussing it with you to see if it would be right for me. Thanks.
Thank you for the whole effort of the channel. I would like to ask if there is a country that you can set up quickly and with low cost a company without getting there and without having to go there certain months a year. An online procedure exclusively.
Can a Caymanian, Bermudian, or any British overseas citizen live in the UK under a non-domiciled tax system? Can you have two UK British Overseas Territory citizenships like Bermuda and Cayman Islands at the same time?
sir , I have a question to ask if i invest and get the st kitts passport , can i get the colombian citizenship if i live there for one year through naturlization ...
Suppose someone has profits coming from crypto staking and would like to make this legal. Which country should this person incorporate the business first?
That's about where you spend your money as much as where you live. UK non Dom can definitely be MUCH cheaper than US if you're making a decent amount of money
@@OffshoreCitizen Nope, Londonistan has lost its attraction. The benefit/cost ratio is much higher elsewhere. Love the English people and their humour though.
Hello, is everything ok? Could you clarify a doubt for me? I married a British citizen and my husband and I decided that we are going to live in the United Kingdom, however, I have investments in my country (Brazil) and I am not interested in providing a tax exit in Brazil, however, I want to send an amount for me to keep in the United Kingdom, I would like to know if I would pay tax in the United Kingdom on all my goods in Brazil (taxes are already paid on Brazilian soil) or if I will only be taxed on the amounts I send to the United Kingdom? And how long could I maintain non-domestic status? Can I maintain non-domestic status if I become a British citizen? Thank you in advance for your attention, have a great day. 😃🙂
