UK Dom & Residence & BVI Company

[thodge78]

Hi I am UK resident and domiciled. I have a BVI company which earns commission for UK Property trades. I am the sole share holder. Does the income earned by the BVI company fall into my own income and be reported on my tax return, or will it be limited to the amount I actually receive from the BVI company by way of dividend?

[maths]

Although there are insufficient facts, it is highly likely that the BVI company is itself UK resident (and thus should file UK tax return and pay corporation tax on its profits) or, if the company is truly non-UK resident, it is again highly likely that its income will be assessable on your part under various UK anti-avoidance provisions.

Subject to unusual facts, I suspect UK tax should be payable one way or another.

[info@successbuz.org]

Dear Sir / Madam,

You have to be very carefull with your Offshore company. BVI are not accepted by UK Inland Revenue nor expense can be claimed.

Cyprus international companies are in clean list of Europe and Expense and transactions are accepted.

Please read if more about offshore below:

It is with pleasure that we have read your email and hereby wish to inform you the following:

1. Every thing can be done as long as Law specifications and procedures are followed, so as you do not have and future problems or inquiries from the VAT or Income Tax Authority.

2. It is wise to set up a proper personal and corporate tax planning in order to gather the right information to build up the standards of your case. Target will be succeed and meet your personal requirements.

3. A Cyprus or Delaware Limited Liability Corporation will be set up. We should then decide whether you like to be taxed in Cyprus under a flat 10% corporate tax or anywhere else in the world.

4. If you choose Cyprus as your company’s tax residence there should be no other form of tax. If you wish to register under the VAT Cyprus Authority you should deliver 15% VAT Tax only on your sales of services / products delivered in Cyprus.

5. If shareholders do not stay in Cyprus for more than 183 days a tax year then dividend tax is 0%, otherwise it should be 15%.

6. We are 100% sure that the experience on international business and tax money saved in long term will exceed the set up and yearly cost. The economic benefits would exceed by far the costs.

7. In order for a Cyprus / Delaware corporation to be taxed in Cyprus, should prove that the register office address and Directorship takes place in Cyprus, you should therefore appoint a Cypriot Director and Secretary.

8. We wish to thank you for choosing our company for your international offshore business. In case you have any more personal inquiries we would be more than glad to answer them.

9. For more information about our firm you can use our friendly web side at http://www.cytaxis.net/

10. Cyprus Banking offshore 25 years experienced system, passing this economic crisis proved to be more than secured with Russian offshore clients bringing during crisis period more than 50 billions of deposits. This shows security and psychological safeguard of money asset with Cyprus Banks.

11. You are kindly pleased to take into mind that you should not trust non specialised / licensed person to do this high level of service. We friendly advice you to first choose a well recognized consultant, with a proper international license to do this kind of serious service. We are very proud about our consultant who will personally advice you for your case and this real physical person is Mr. Nicholas Pais, Ex Inland Revenue Retired Officer, working in the department for the examination of offshore companies, double taxation treaties and tax clearance, member of the Association of Chartered Certified Accountants in UK and Cyprus, with a license to operate number 2013. You can read more about our consultant’s personal experience and qualification in our web site at http://www.cytaxis.net/Team.htm and or http://www.cytaxis.net/nicholas.htm .

12. You can skype the Tax Master Mr. Nicholas Pais over skype member nicholaspais, country of Cyprus for a free chat. You can even call him at his personal mobile at 00 357 99 65 39 98 or at his office at 00 357 22 461 402, or fax at 00 357 22 819 011, or email at info@cytaxis.net .

13. We hereby analyze in detail the set up and yearly cost for a Cyprus / Delaware Corporation: I can send to you a quotation about the cost.

14. Finishing I would like to thank you once again for your interest in our firm. I would like to remind you that in case you like to proceed with an order of our service you should support us with the following personal documents. Those documents will be kept confidential. We should then make a routine check with our banker whether they accept you to be their prospective offshore banking client and then proceed with ordering the company:

• A copy of your passport.
• A copy of a personal utility bill to prove your permanent residence address.
• A confirmation letter from a close friend or client, confirming your identity and type of service you deliver to him.
• A confirmation letter from your banker to confirm your identity referring to your passport number and business relationship.
• Telephone with area codes both mobile and work.
• In case you wish to proceed with the order you should transfer the set up initial formation company costs which are 2200 Euros to the following account:
• PNC SUCCESS CONSULTANTS LIMITED – beneficiary’s name
• IBAN: CY73 0020 0124 0000 0005 0260 9900
• SWIFT address BIC Code of Bank of Cyprus Public Company Limited is BCYPCY2N

Yours faithfully,
Nicholas Pais

Hi I am UK resident and domiciled. I have a BVI company which earns commission for UK Property trades. I am the sole share holder. Does the income earned by the BVI company fall into my own income and be reported on my tax return, or will it be limited to the amount I actually receive from the BVI company by way of dividend?