Best country to live in as an affiliate

[ThePokerBank]

Wales.

Weather is nice here.

[Zilla]

Originally Posted by Darko

Well you dont know much about tax..... if a company is offshore, its profits can **ONLY** be taxed in the country its set up in - Period - 100% cant be taxed by any other country.

I live in the UK, i have professional accountants that confirm this.

But if the money stays in the company and doesnt leave it, i cant see how ANY country in the world can tax it as its nothing to do with the US or UK or any other country other then the country its set up in.

and as i said, if you're spending that companies profits, thats another matter.......

I live in the UK and I'm an accountant by trade, but even so I'm not a tax specialist.

But under current UK tax laws if you have a controlling interest in an offshore company then it is taxed as if it is a UK company regardless of whether your bringing the funds back to the UK or leaving it sitting offshore. Its termed a Controlled Foreign Company or CFC in tax terms.

If you have an accountant who has set you up differently then I would be very interested to hear, as all the tax specialists I have spoken to have advised me the same.

Drop me a PM if you can shed any further info as I would be interested to hear what your accountants have said.

[Darko]

hey zilla,

Im a failed accountant by tade hehehe, well i got bored of the 17 CIMA exams (did 7 of them - so im PQ) as i started earning good money on ebay and quit my job etc

But to your question im not entirly sure myself, but i think its to with the "contolling interest part" and nominee directors and shareholders.

Also it might also have to do with my "domicile" (if one of your parents is non uk born, then u can apply for domicile in that country) and theres huge tax loopholes if your non uk domiciled

[consult4web]

I have been researching Costa Rica. Over 30k americans live there.No taxes on foreign income.Any affiliates from Costa Rica here?

[bahh]

What do you pay for living and food etc in Costa Rica?

[JBlixt]

Sweden have CFC rules to cover the fact if people set up companies in tax paradises.

More and more countries are adopting CFC rules to make sure to protect the incometaxes.

The question should not be where to live, but where to host a company that are trusted but still have low taxes. Malta are a popular place for both gambling companies and other companies. The taxes are low for international income. And if you decide to live there and work you pay normal tax.

I can tell you for sure that sweden is not the right land to live in if you want to do this on the side. Of course i pay tax according to the rules, but it hurts. I pay about 64-70% in tax (since i have another job that pays decent) and for that money I get "nothing".

[bahh]

I think that if you're out of sweden more than 6monts a year you dont have to pay taxes in sweden..

[Emil]

Originally Posted by JBlixt

Sweden have CFC rules to cover the fact if people set up companies in tax paradises.

More and more countries are adopting CFC rules to make sure to protect the incometaxes.

The question should not be where to live, but where to host a company that are trusted but still have low taxes. Malta are a popular place for both gambling companies and other companies. The taxes are low for international income. And if you decide to live there and work you pay normal tax.

I can tell you for sure that sweden is not the right land to live in if you want to do this on the side. Of course i pay tax according to the rules, but it hurts. I pay about 64-70% in tax (since i have another job that pays decent) and for that money I get "nothing".

Yes Swedish taxes are outrageous. That same situation would happen to me if I stay here. If I can find a job, that is. But if I would live in a country where it is cheap to live and low taxes and promoting gambling is legal I could get by by just promoting poker (And hopefully put aside some cash in the process).

But it would also be nice if the country is not too far away from home and if it was okay to live there.

[consult4web]

Maybe take a look at Mexico:
APCW Perspectives Weekly - July 13th, 2007
http://www.youtube.com/watch?v=9mnFgo1lTf4