Company relocation for tax purposes

[Richard Conyard]

Does anyone have any experience here, just an overview?

It's as a precursor to getting an expert in to look over more effective strategies on tax management. As one of our largest costs it's a bit of a killer.

 

[Alpha]

Richard

What exactly do you have in mind?

 

[crus]

It may be worth looking at Jersey for example.

I believe that a company based in the island but not trading to it only pays 650 corp tax and filing everyyear.

D

 

[Richard Conyard]

I believe Jersey et al have rather stringent policies on company size and residency. I have heard the Isle of Man has less stringent policies.

At present it's purely a few steps investigating possibilities.

 

[Jayne]

I was told you have to have lived in jersey for 25 years to be able to become a citizen and open a business there. You can only move there, if a local moves out of there (only so many can live there)..

It has really strange rules and not easy to live there as you cannot buy a property until you are a full citizen!

I think that's right.

Jayne

 

[crus]

Hi Jayne,

as a resident and citizen from birth I do qualify, howvere this is not essential for setting up a company, many agents can do this for around 2K.

However, property is different, most is not available to buy unless you have residential qualifications, these are obtained by being born their or being on a list that are added each year, normally 10 very wealthy people. However, due to strange land ownership, certain hotels and over sites were no given qualies and as such have had flats built on them which allow residential status (6 months and 1 day a year) for a Premium pice.

You do not have to be a resident to run a company.

D

 

[Jayne]

I was close Crus :lol:

It's still very confusing, i've never known a place with as many regulations and rules :lol:

And you have to drive slow!

Jayne

 

[crus]

lol yeahwas weird when I first came to the UK, was driving everywhere at 30 ;-)

D