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Previously on "Should I open a UK Ltd as EU resident?"

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  • zerosum
    replied
    Originally posted by curious7 View Post
    Is there official documentation mentioning this?
    Citizens’ rights | European Commission

    Note particularly that while building up 5 years from pre-settled status to settled status (roughly temporary vs permanent residence), you cannot be absent for more than six months in a year, or you may lose pre-settled status and all its rights, like the right to work. And it's never been clarified whether that's six months from the time of entering, the time of application, or per calendar year.
    Lengthy absences from the UK can put EU settled status at risk | Free Movement

    Laws are subject to interpretation, but for as long as we have the current lunatics in charge and immigration remains as controversial as it does, you can expect the Home Office here to apply the most rigorous interpretation they possibly can and spend plenty on lawyers.

    Leave a comment:


  • curious7
    replied
    Originally posted by zerosum View Post
    In any case, if you want to move to the UK do so before the end of the year as that way you will be protected under the Withdrawal Agreement (although that does also entail certain obligations) and will maintain the right to work. .
    Is there official documentation mentioning this?

    Leave a comment:


  • curious7
    replied
    I feel I'm limited in my choices by where I'd move personally (due to the aforementioned tax laws).
    I wouldn't to move to Cyprus or Estonia.
    London is multicultural, has a lot of ambitious people, good business ecosystem, big city.
    Greece is good for retiring as far as I'm concerned.

    Leave a comment:


  • Paddy
    replied
    Originally posted by zerosum View Post
    Surely Cyprus would be a more logical fit? Almost a Greek-UK hybrid, much lower taxes, although it is admittedly expensive to run a company even if it's not doing anything.

    In any case, if you want to move to the UK do so before the end of the year as that way you will be protected under the Withdrawal Agreement (although that does also entail certain obligations) and will maintain the right to work.

    Afterwards you will be subject to this new points-based immigration system. As was already noted, you can be a director of a UK company, but have no right to employ yourself.
    I forgot about Cyprus. Yes I agree, also English is one of three official languages in CY.

    Leave a comment:


  • zerosum
    replied
    Originally posted by curious7 View Post
    I'd like to move to either London or Berlin and the UK ltd seems much more flexible, easy to administer and with less bureaucratic hurdles. On the other hand there's Brexit and the other points I explain in the original post.

    There's so many UK companies that I don't think this will be a major problem.. I'm in software.
    Surely Cyprus would be a more logical fit? Almost a Greek-UK hybrid, much lower taxes, although it is admittedly expensive to run a company even if it's not doing anything.

    In any case, if you want to move to the UK do so before the end of the year as that way you will be protected under the Withdrawal Agreement (although that does also entail certain obligations) and will maintain the right to work.

    Afterwards you will be subject to this new points-based immigration system. As was already noted, you can be a director of a UK company, but have no right to employ yourself.

    Leave a comment:


  • fullyautomatix
    replied
    Well lets see how things stack up

    1) Greece: Great weather all round, great food, great culture, great people, great beaches, great food produce, self sufficient, amazing girls, part of EU.

    2) UK : None of the above.

    Now why would you even consider moving your tulip all the way from Greece to London in the middle of this pandemic and brexit ? You could not have chosen a worst time to do this. You are in software, you got great clients all over the world, you can sit on a beach in Crete and run your company while sipping pina coladas and getting a massage from some beauty.

    Leave a comment:


  • NotAllThere
    replied
    Originally posted by curious7 View Post
    Well I want to move to the UK as I said in my post but trying to calculate/be aware of the risks involved. That's why I asked in this forum.
    From the 1st of January, will you have to right to live in the UK?

    Leave a comment:


  • curious7
    replied
    Well I want to move to the UK as I said in my post but trying to calculate/be aware of the risks involved. That's why I asked in this forum.

    Leave a comment:


  • Zigenare
    replied
    Originally posted by curious7 View Post
    Do you have any recommendation for accountants that accept non-UK residents? I could not find anyone accepting non-residents so far.
    Then things don't bode well for you, do they?

    Leave a comment:


  • curious7
    replied
    Originally posted by Zigenare View Post
    Yes, talk to an accountant.
    Do you have any recommendation for accountants that accept non-UK residents? I could not find anyone accepting non-residents so far.

    Leave a comment:


  • Zigenare
    replied
    Originally posted by curious7 View Post
    I was planning to move to London and open a ltd company in the UK...

    Any advice?
    Yes, talk to an accountant.

    Leave a comment:


  • dsc
    replied
    Also make sure to read up on double taxation, I think there's some changes coming next year which mean that depending on where you work and where you live, you might get taxed in both countries (for example if the tax free allowance in your work country is above the tax free allowance in the country where you live).

    Leave a comment:


  • BlasterBates
    replied
    You'll be taxed whereever you work, so if your intention is to pay UK tax you need to be actually working there. If you work in another country then you need to tax yourself there. If you divide your time you need to pay tax proportionately in both countries.

    So to summarise you will be taxed in both countries but you will be resident in one of those countries. In the country where you are resident you also declare the income that is taxed in the other country i.e. in the country you are resident as you are taxed on your worldwide income; however tax paid in the other country will be deducted from any tax bill.

    Whether you spend more than 6 months in the UK or not won't change the fact that income will be taxed in the other country if you spend time working there.

    The only time residency becomes an important factor is when you have significant income from investments which are only taxable in the country in which you are resident.

    Leave a comment:


  • curious7
    replied
    Originally posted by Paddy View Post

    Opening up a Ltd Co will not be more difficult after 2020 however, working in the UK will be more difficult.
    Even if you're self-employed? If yes, could you elaborate on what would change?
    Last edited by curious7; 29 September 2020, 22:21.

    Leave a comment:


  • curious7
    replied
    Originally posted by Paddy View Post

    Depending on which country you reside, you will be taxed on world wide income, therefore six months is meaningless. Its not tax free.
    I'm in Greece. Any EU country can claim that the company is local if you're staying in that country for longer than 183 days. I did not mention anything about avoiding taxes.
    I'm just saying that if I move to the UK and open an UK ltd, I have to be there at least for 6 months so that I get taxed there (corporate tax and personal income tax).

    Leave a comment:

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