Hi guys,
I am a college student running a young retail (eBay) and wholesale business that brings in a nice side income.
I live in Belgium, a country notorious for its taxes. Let me state this clear from the beginning: I do not hate taxes with a passion like some people do. Not at all actually. I'm aware that focusing on taxes/VAT is only secondary to increasing sales. However, all I'm interested in is growing my business. If that involves registering it somewhere else to let it grow faster, I'm game. I am young and don't have any commitments.
I want to:
- Be able to easily cater to the European market (ie based in Europe?)
- Be able to use eBay/Paypal in the country I live (no typical "tax havens")
- Live in a friendly tax/VAT climate (especially VAT can make the difference)
- A place where it's easy to establish a business or (even) to immigrate.
Why do I think the UK is superior?
Small UK business don't have to register for VAT when their turnover does not exceed 70,000 GBP.
(http://www.hmrc.gov.uk/vat/start/reg...register.htm#3). This alone would instantly make my OK going business a good going business.
Questions I have:
* Can I establish a UK business without living there?
More importantly, can I live in Belgium and run it from there?
I think I can't, the profits would be considered originating in Belgium => Belgian tax / VAT. Correct?
Does anyone have experience with this, or other EU countries (Ireland)?
Thanks a lot,
I am a college student running a young retail (eBay) and wholesale business that brings in a nice side income.
I live in Belgium, a country notorious for its taxes. Let me state this clear from the beginning: I do not hate taxes with a passion like some people do. Not at all actually. I'm aware that focusing on taxes/VAT is only secondary to increasing sales. However, all I'm interested in is growing my business. If that involves registering it somewhere else to let it grow faster, I'm game. I am young and don't have any commitments.
I want to:
- Be able to easily cater to the European market (ie based in Europe?)
- Be able to use eBay/Paypal in the country I live (no typical "tax havens")
- Live in a friendly tax/VAT climate (especially VAT can make the difference)
- A place where it's easy to establish a business or (even) to immigrate.
Why do I think the UK is superior?
Small UK business don't have to register for VAT when their turnover does not exceed 70,000 GBP.
(http://www.hmrc.gov.uk/vat/start/reg...register.htm#3). This alone would instantly make my OK going business a good going business.
- My margins are pretty OK, so a <70,000 GBP turnover would still be enough profit. If need be, I have a family member who works together with me, we could set up 2 business and have a combined limit of 140,000 GBP.
- Indeed, I know this implies I will not be able to recollect VAT later for purchases made. The point however, is that there is no VAT anyway on Asian goods... therefore it makes no sense being registered for VAT.
- The UK is easy to immigrate to as a EU citizen.
Questions I have:
* Can I establish a UK business without living there?
More importantly, can I live in Belgium and run it from there?
I think I can't, the profits would be considered originating in Belgium => Belgian tax / VAT. Correct?
Does anyone have experience with this, or other EU countries (Ireland)?
Thanks a lot,
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