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e-book Non Dom Tax Secrets 2012

Cyprus offers business owners and shareholders these and many other benefits. In conjunction with ensuring Non Dom status for one or more of the business owners or shareholders, setting up a company in Cyprus is a great variation to relocating your tax residence to Cyprus. The Cyprus Company offers valuable, long-term benefits and those with Non Dom status have access to their dividends tax free. It must be shown that the existing Health Insurance covers both in- and out-patient treatment costs.

The OECD criteria to assess whether a company generates active income and therefore qualifies as an Active Company — and thus is not subject to the automatic information exchange - are as follows:. Important: only one of these criteria needs to be met, in order for a company to qualify as an "Active Company"! First Name:. Last Name:.


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The following notes give a simple overview of what happens to your personal information when you visit our website. Personal data is all data that can be used to personally identify you. Detailed information regarding data protection can be found in our Privacy Policy, which follows below. The data processing on this website is carried out by the website operator, whose contact details may be found in the Legal Notice of this website.

Tax changes for non-domiciled individuals—Ben Grist, Dixon Wilson

On the one hand, your data will be collected if you share personal information with us. For example, this may be the data which you enter into a contact form. Other data is collected automatically by our IT systems when you visit this website. These are mostly technical data for example, the internet browser, operating system and time of the page request. The collection of this data happens automatically as soon as you enter our website. Part of the data is collected to ensure that the website is kept in good working order.

Other data can be used to analyse your user behaviour. You have the right to obtain free information about the origin, recipient and purpose of your stored personal data at any time. You also have the right to request the correction, blocking or deletion of this data.

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For this purpose, and in case you have further questions about data protection, you can contact us at the address given in the Legal Notice at any time. Furthermore, you have a right to appeal to the competent regulatory body. The operators of these pages take the protection of your personal data very seriously. We treat your personal data confidentially and in accordance with the relevant data protection laws and this Privacy Policy.

If you use this website, various personal data will be collected. Personal information is information that makes it possible to personally identify you. This Privacy Policy explains which information we collect and we use it for. It also explains how and for what this data is collected. Please note that there potential security gaps in data transmission over the internet for example, communication via e-mail.

Complete protection of the data from access by third parties is therefore not possible. Privacy Management Group Ltd. The responsible authority is the natural or legal person who, alone or in concert with others, decides on the purposes and means of processing personal data such as, names, email addresses, etc. Many data processing operations are only possible with your express consent. You can revoke your consent at any time. To do this, an informal message sent to us via email is sufficient.

1. Data Protection at a glance

The legality of the data processing carried out until the time of consent withdrawal remains unaffected by the withdrawal. For security reasons and to protect the transmission of confidential information, such as orders or requests which you send to us as the site operator, this site uses SSL or TLS encryption.

If, after the conclusion of a fee-based contract, there is an obligation to provide us with your payment details for example, the account number for direct debit authorisation , this data will be required for payment processing. The internet pages partly use so-called cookies.

2. Your place of domicile

Cookies do not harm your computer and do not contain viruses. Eligibility relies on showing that either the non-dom, their father or grandfather in a sexist twist, their mother or grandmother being born overseas does not generally grant eligibility was born overseas. It also requires that the non-dom regards that country as their home, a fact they can demonstrate to HMRC through property holding, a burial plot or other means.

The non-dom is not required to spend any amount of time in the country they claim as their true home, or to be tax-resident or indeed pay any tax to that country. They are also entitled to spend as much of each tax year as they wish in the UK — there are no residency requirements. If an ultra-wealthy individual can convince tax authorities of their status, the advantages can be substantial.

UK citizens are required to declare and pay UK tax on all their worldwide income. Already a subscriber or registered access user? Subscription Notification.

Is This The Death Of The Non-Dom? Wealthy Eschew Britain's Elite Tax Status

It also means that some may inherit their non-dom status from their parents. For proof to the tax authority, they have to provide evidence about their background, lifestyle and future intentions, such as where they own property or intend to be buried. Key to non-dom tax status is that an individual must pay UK tax on UK earnings, but need not pay UK tax on foreign income or gains unless they bring that income back to the UK. The FT says it was originally introduced in and allowed people with foreign property to shelter it from wartime taxes.

It became a regular point of debate during and after the financial crisis when the legal tax affairs of wealthy residents was put under the spotlight. Policy guide: Where the parties stand.

Is This The Death Of The Non-Dom? Wealthy Eschew Britain's Elite Tax Status

People do not necessarily have to indicate their domicile status on their UK tax return. The UK tax authority believes there was a general trend of rising numbers to when charges came in, but a fall since.


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Non-doms have included some super-wealthy household names, but also include some foreign doctors and nurses working for the NHS, as well as some students. Some other countries have similar regimes, but the seven-year period of grace is unusual internationally.