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I want to form a UK LLP with 2 non-UK company partners (90% Malta and 10% Switzerland). All decisions about the UK LLP will be taken in Malta (not the UK and not Switzerland). The fact that the LLP will be a UK one is for UK prestige and to avoid any perceived tax haven "taint".
The UK LLP will have a UK address, but only as a convenience - no significant activity will take place there, other than to accept formal documents.
The UK LLP will sell software on a rental basis wholly to clients outside the UK. Clients will "rent" the software which will physically sit on servers in France and Switzlerand. In other words the UK LLP has foreign source income and foreign owners, so no UK taxes involved.
My questions is: I understand (wrongly?) that the EU VAT registration must take place in the jurisdiction of the "permanent establishment" of the business.
Where is the formal "permanent establishment" for a UK LLP (specifically, "my LLP")? UK, Malta, or (heaven forbid) where the servers are based - i.e. France & Switzerland?
Where can the UK LLP register for VAT? The UK? Malta?
Apologies for the long question! Any help & advice appreciated. DH
REPLY:
No UK activity? Clients outside UK? I personally would not involve an extra jurisdiction that is not required at all. There is no prestige Problem in Malta. Just stick to it and have piece of mind.
info(at)eu-hub.com www.eu-hub.com Eu-Hub Malta Limited skype: euhubmalta
REPLY:
I would not involve a jurisdiction that I do not require at all. Just stick to Malta.
info(at)eu-hub.com www.eu-hub.com Eu-Hub Malta Limited skype: euhubmalta
REPLY:
I can understand why you would like to set up an entity in the UK for "prestige". However, there is no problem with the prestige in Malta.
In addition, the VAT is one question but the Corporate Tax rate is another one. Did you think about this point? and how could you repatriate some dividends to your "shareholders"?
We can assist you in this respect and propose you the most appropriate structure for your business. We have office in Switzerland and worldwide (UK, Luxembourg...) and some other jurisdictions can be interesting for you. Please feel free to send us an email: forts.john@gmail.com John
REPLY:
Hi John,
I have 1 or 2 things still to check on the Malta corporate side. Want to move residence of a BVI company to have it controlled and managed from Malta but with income remitted to a bank outside Malta (i.e. BVI company it will be resident but not domiciled in Malta adn therefore taxed under the remittance basis). I understand that in such circumstances there would be no corporation tax to pay, but even if there were the shareholders would get a refund amounting to max effective tax rate of 5%.
Only issue then is the taxation of the dividends from the BVI in the hands of the shareholders in their respective jurisdictions. But, the only sure thing in life is death and taxes!
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