Post
by vilkatis » Thu Nov 23, 2006 11:31 am
Sorry. I can't help you with the UK system specifically.
I don't know what time it would take, or the fees & taxes involved.
I do know, theoretically, you can start up a business. How much time & money in the UK ..?? Don't know.
You probably will need a UK citizen as business partner.
What I did in Latvia is based upon advice from a friend who did this in Ireland.
I got a business partner with citizenship. I could have done it without him, but it reduced my pain and initial expenses.
We formed a business. About 2000 GBP in assests and close to another 800 in various costs and fees.
Took about three to four weeks.
As a full partner with signature rights as a board member (this is Latvia-specific terminology), my company issued me an invitation to work for the company, which was used as a mechanism to apply for a four-year residence visa that requires renewal each year.
The state salary is mandated for such a basis (currently about 500 GBP/month).
I must pay taxes on the salary, but I can make an agreement with my company to defer my actual salary .. so my outlay each month is approx. 280 GBP in tax burden.
My company can pay me dividends from the profit at a lower tax rate, all the while accruing back-salary that can be paid out later when I "make it" or it's all a loss if the company goes under.
I suggested this possibility not just to check it out in the UK, but because you are near Ireland, which is becoming the center for this sort of activity. Also, you can do it in English there. I have to do it all in Latvian here, which increases my cost burden & dependencies.
Whichever country you do this in, you can obtain residence in that country and then make sure your company rules are written such that you can send yourself to all EU countries as a consultant.
Theoretically, you can start up a Limited or Unlimited firm in the UK and have that firm issue you a workpermit ... so long as you comply with other requirements.
AND .. I cannot advise you on all requirements.
The costs and time involved may scuttle the idea for your situation ... for the UK.
However, in Ireland and Latvia (that I know of) it can be done for similar costs to what I've described. I hear there are a number of other EU nations you can do this from, but I have no specific knowledge on the local details.
Umm .. except, AVOID Denmark, Germany, France, Sweden. The fees taxes and complications there will kill you, as will many of the more westernized EU nations. Poland Estonia Hungary Spain MIGHT be possible alternates.
Lithuania is a bit wild .. you should be able to do it there, but the corruption is nearly at Russian & Belarussian levels. But, Lithuania is beautiful and lots of fun. If you wanna be a playa, Vilnius might be your wild cuppa-tea. I like to unwind there, but the business environment is scarey.
You need localized advice. But, you now have the knowledge of what to ask for and how to start google-searching to refine what you need.
In the U.S. it would have required several tens of thousands of dollars to do this (and I'm a citizen there). In Latvia I did it for just about 4500 GBP for the first year.
I own my own consulting business and can travel the entire EU at will.
Sweetness.
Like I said, at first panic in your situation, buy yourself as much time as you can by whatever method(s) you can drag up. Six months, a year of time and you can get a lot of infrastructure & research in place to pull this off.
Even the U.S. if you have enough money and pass the security background for business visa as a small business owner in the U.S.
