Case: 

Company founder with over 3-Million-dollar turnover, immigrating to UK as investor for his children’s education & allocate his and his company’s asset.

Brief Facts: 

According to UK Tax policy, Resident but not UK domiciled – RND can choose between Arising Basis or Remittance Bases on their tax payment. Remittance Bases meaning to pay a standard amount of tax, which only affects by the number of years taxpayer became a UK tax resident. As long as income were generated outside of UK, the amount will not be take into consideration.

Our Approach: 

With UK T1 Investor program, client was granted with a visa with no resident requirement. Visa can be updated to citizenship when he meets physical present requirement. Client was paying GBP 30K on the first 3 years of his immigration. He then took the time, transfer his assets to low tax countries, like Singapore and Sweden by setting up investment accounts.

Result: 

Client report full income source to the UK Tax bureau, he did not transfer any of the generated income from other countries. In result, no tax information exchange between his original country and UK. Income & financial information from Singapore and Sweden were exchanged to UK, but no action needs to be taken. Client was paying a total of GBP 30K for all of his overseas income