Looking To Make The Move- Suggestions?
Sorry for the broad question but i know lots of you will have opinions on where you most enjoy living.
But where is good for a businessman to move to? I am fortunate in that I can work remotely and i am a bit depressed in the UK. The weather, the high taxes, the non stop political tit for tat arguing. I dont need to go on i'm sure. I'm 32, single and can work remotely so I am pretty much free to move where I like. My requirements for my ideal place is. 1/ Low taxes and business friendly 2/ Warm and sunny 3/ Friendly people 4/ Vibrant and lively 5/ Not too far from the UK as I dont want to lose the ability to see my family regularly (this is the only thing stopping me from moving) I have friends in Spain so is an option but get the impression tax rates are very high. Cyprus is looking a good option, taxes low, nice weather but i'm not sure about day to day living, hear mixed reviews from Club Med revelers to nothing but retirees (no offence to either group but I don't fall into either category) I would love to hear you more seasoned travelers views? Thanks a lot Tom |
Re: Looking To Make The Move- Suggestions?
Originally Posted by Tomhgriff1
(Post 11895289)
But where is good for a businessman to move to?
It just depends on the business and how you want to live, but looking at the ease of business rankings UK is actually always at the top. When it comes to warm and sunny, you only really have a few options for your requirements and they would be Portugal & Spain. Cyprus is not great for business and very close to Syria. You'd probably then be better off in Greece, Italy, Croatia or maybe Malta if you like small and crowded. |
Re: Looking To Make The Move- Suggestions?
Originally Posted by Tomhgriff1
(Post 11895289)
Sorry for the broad question but i know lots of you will have opinions on where you most enjoy living.
But where is good for a businessman to move to? I am fortunate in that I can work remotely and i am a bit depressed in the UK. The weather, the high taxes, the non stop political tit for tat arguing. I dont need to go on i'm sure. I'm 32, single and can work remotely so I am pretty much free to move where I like. My requirements for my ideal place is. 1/ Low taxes and business friendly 2/ Warm and sunny 3/ Friendly people 4/ Vibrant and lively 5/ Not too far from the UK as I dont want to lose the ability to see my family regularly (this is the only thing stopping me from moving) I have friends in Spain so is an option but get the impression tax rates are very high. Cyprus is looking a good option, taxes low, nice weather but i'm not sure about day to day living, hear mixed reviews from Club Med revelers to nothing but retirees (no offence to either group but I don't fall into either category) I would love to hear you more seasoned travelers views? Thanks a lot Tom France ticks most of the boxes, depending where you would choose to live, BUT 1/ won't suit you! You would have to set up a French business structure, with all the bureaucracy involved, but it would at least get you into the French Social Security System. Take a look in the France forum (in the Read-Me Moving to France FAQs) for most aspects of living in France. If you're interested, post directly on the France forum with more details about your UK business!:) |
Re: Looking To Make The Move- Suggestions?
Thanks for the replies so far!
Hi Dmu, wow. France? I wasnt expecting that? I thought they were very high in tax. Corp tax is over 30% i think and then tax on assets etc? I think Number 1 on my list is a main priority as I already think UK taxes are too high. My business is all digital. I am involved in investments/trading and also have a webdesign company. So not really dealing in phsysical goods often. Hi Moses 2013, interesting points about Cyprus as that was high on my list to explore. Other suggestions seem good. |
Re: Looking To Make The Move- Suggestions?
Originally Posted by Tomhgriff1
(Post 11895897)
Thanks for the replies so far!
Hi Dmu, wow. France? I wasnt expecting that? I thought they were very high in tax. Corp tax is over 30% i think and then tax on assets etc? I think Number 1 on my list is a main priority as I already think UK taxes are too high. My business is all digital. I am involved in investments/trading and also have a webdesign company. So not really dealing in phsysical goods often. Hi Moses 2013, interesting points about Cyprus as that was high on my list to explore. Other suggestions seem good. Sure, Cyprus might look interesting with the same corporate tax rate we have here in Ireland, but you also have a lot of red tape too. It's over 4 hours (flight) away and very close to politically unstable areas. You're certainly better off keeping your business registered in countries where you have a high ease of business ranking, especially if it's digital. Just because you spend a bit more time in Spain, doesn't mean you have to register it there, but of course you need to check with a lawyer or expert in that field regarding taxes etc. |
Re: Looking To Make The Move- Suggestions?
Thanks Moses
|
Re: Looking To Make The Move- Suggestions?
Originally Posted by Tomhgriff1
(Post 11895897)
Hi Dmu, wow. France? I wasnt expecting that? I thought they were very high in tax. Corp tax is over 30% i think and then tax on assets etc? I think Number 1 on my list is a main priority as I already think UK taxes are too high.
|
Re: Looking To Make The Move- Suggestions?
Originally Posted by Tomhgriff1
(Post 11895897)
I am involved in investments/trading and also have a webdesign company.
Purely from a taxation point of view, the clear choice would be Cyprus. This is because profits from trading in securities is not taxable. Therefore, only the web design income would be subject to tax. There is also a non-dom regime, whereby passive offshore income (dividends etc.) can be received free of tax. Both of these tax breaks could be used to your benefit. The personal allowance is €19,500. Whether Cyprus would suit you from a lifestyle point of view, only you can decide. |
Re: Looking To Make The Move- Suggestions?
Very helpful teejaydee, thanks
|
Re: Looking To Make The Move- Suggestions?
Originally Posted by Tomhgriff1
(Post 11896414)
Very helpful teejaydee, thanks
Another country you may wish to consider is Croatia. There is no CGT on profits from trading securites, but dividends would be taxable. As for France, Spain, etc., you will be hammered tax-wise. |
Re: Looking To Make The Move- Suggestions?
Thanks! More very interesting information.
I know a load of people that moved to Croatia and always wondered why. I knew there had to be some sort of deal like that. Although if it's anything like the UK.. if trading is your main source of income you are taxed as income not CGT's so no savings to be had. |
Re: Looking To Make The Move- Suggestions?
Originally Posted by Tomhgriff1
(Post 11896430)
I know a load of people that moved to Croatia and always wondered why. I knew there had to be some sort of deal like that.
If you are considering Croatia, the best parts (climate-wise) are the Istrian peninsular the Dalmatian coast. I lived for a time in Split, and it was very nice.
Originally Posted by Tomhgriff1
(Post 11896430)
Although if it's anything like the UK.. if trading is your main source of income you are taxed as income not CGT's so no savings to be had.
|
Re: Looking To Make The Move- Suggestions?
Originally Posted by teejaydee
(Post 11896452)
When it comes to choosing a low-tax environment, the source of the income can be crucial. The obvious tax-free countries like Monaco are expensive to live in. That's why it's necessary to identify specific tax breaks in otherwise high tax countries. For share traders, Cyprus and Croatia are good choices. For share investors, the choice is wider, but there is a minimum holding period for the shares. The risk of course, is that tax breaks will be removed, and indeed, that has happened.
If you are considering Croatia, the best parts (climate-wise) are the Istrian peninsular the Dalmatian coast. I lived for a time in Split, and it was very nice. I have already taken that into account before suggesting Cyprus and Croatia. You're right that most countries will tax you at income tax rates if you are a frequent trader, but this is not the case in these two countries. |
Re: Looking To Make The Move- Suggestions?
Having lived and worked in France and run a French business there would not advice it for tax. It is very expensive. Lot of upfront fees. We now have a house in Austria (for sale) and have many Dutch friends that have moved here as much cheaper than Holland apparently and they run guest houses, building businesses etc. We don't actually work in Austria. It does have quite a generous allowance before tax is due.
Our main home is in Bulgaria, were taxes are 10% (personal and corporate). Lots of flights from UK now. |
Re: Looking To Make The Move- Suggestions?
Originally Posted by Rural Bulgaria
(Post 11909865)
Having lived and worked in France and run a French business there would not advice it for tax. It is very expensive. Lot of upfront fees. We now have a house in Austria (for sale) and have many Dutch friends that have moved here as much cheaper than Holland apparently and they run guest houses, building businesses etc. We don't actually work in Austria. It does have quite a generous allowance before tax is due.
Our main home is in Bulgaria, were taxes are 10% (personal and corporate). Lots of flights from UK now. Although i hear it is very corrupt, lots of organised crime. I dont generally mind that provided it doesn't effect my life too much. But if there are threats from councils/planning offices.. "pay us this or we build a road through your back garden" i wouldnt be too pleased. Maybe ive been watching too many Russian mafia documentaries tho! |
All times are GMT. The time now is 5:22 pm. |
Powered by vBulletin: ©2000 - 2024, Jelsoft Enterprises Ltd.
Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.