France is a large country, stretching from the south coast
and the Mediterranean Sea to the north coast and the English
Channel. It shares borders with Spain, Andorra, Monaco, Luxembourg,
Italy, Switzerland, Germany and Belgium. Paris is one of the
most popular tourist destinations in the world and is a major
transport hub for rail and air links across Europe and further
afield. The climate in northern and central France is similar
to the UK and other northern European countries, but the south
of the country and the Cote d’Azur enjoys a warm Mediterranean
climate.
France’s telecommunications system is highly advanced
with extensive satellite and mobile communications providers
in operation. There are over 35m telephone lines in use and
almost 60m mobile phones. There are around 43m Internet users.
There are many international airports across the country and
the rail and road networks are highly developed and efficient.
Major ports have ferry services to a number of other European
countries, including the UK, Spain and Italy.
France has an old, stable banking system. The Bank of France,
which is the central financial institution of the country,
was actually founded by Napoleon Bonaparte. There are several
major French banks as well as branches of other banks in the
major population centres. Some French banks deal mainly in
loans, credit and savings whilst others in traditional banking
services. Many banks have English-speaking staff and English
language websites for online banking.
A resident of France may open a French bank account (compte
bancaire) and some banks offer non-resident bank accounts
where an individual does not plan to stay in France for more
than three months in a calendar year, though there are restrictions
on who can open a non-resident account. When opening a bank
account, a resident must provide certain documentation, including
passport or ID card, proof of residence, proof of address
and evidence of employment (or business and earnings if self-employed).
French bank accounts offer all the functionality one would
expect, including online banking (most major banks), credit
cards, debit cards and cheque books.
Most banks charge in the region of EUR25 per quarter to administer
a business account, and separating a business account from
a personal account is an important distinction and the tax
authorities generally expect small businesses to operate accounts
in the name of their business. Banks will offer financial
packages to aid new businesses and are governed by a code
of practice.
I am facing a dilemma and would like to invite any reader to advise me.
I am a Brit who has lived outside UK since 1993- initially in Belgium (5 years) & subsequently in 4 African countries. After a year outside UK, the UK Inland Revenue confirmed my status as ‘non-resident’ for tax purposes and as I have had no income in UK, I have not completed a UK tax return for many years. I visit UK very rarely, normally for one or two weeks per year.
In May 2011, I was made redundent by my employers, who were downsizing. This coincided with a move to retire in the Netherlands, where I now have official residency (my wife is Dutch). I thought that, at 63 years of age, I would be unlikely to find suitable employment; in fact, I have not tried hard and had resigned myself to permanent (but slightly premature) retirement.
However, to my surprise, I have recently been approached (through a mutual acquaintance) by a company that wishes to use my skills on a project in the Isle of Man. The role, if & when confirmed, would see me working for about 10 days a month in Isle of Man, with about 5-7 additional days per month, working from home. Contract will be for about two years. The firm has asked me to confirm if I would prefer to be paid (and therefore be taxed) in Netherlands or Isle of Man, the idea being that I create a self-employment entity for this employment. I have no data on which to base a response. Given Isle of Man's traditional ‘low tax ‘environment, are there any benefits to declaring an income in IOM? Are there any Isle of Man residency implications? Netherlands takes a tax cut on total world wide income, and, as I have never had any contact with the Dutch authorities, I am reluctant to start such a relationship now. Do I have to declare income in both countries, with a breakdown prorata to the time spent in each jurisdiction? Should I declare income to UK Inland revenue?
If anyone has pertinent advice on these points, I’d be grateful to hear them.
Hi, I live in South Africa, and along with 2 business partners (one in South Africa and one in Ireland - all South African citizens though) are setting up a company that designs Smart phone applications. As they will be sold on the various platforms (none of which operate out of South Africa)we have to list our company as operating out of Ireland anyway. As such, we have decided to set up our company in the best tax country and are wanting info on whether Jersey or Malta is best? If anyone has some inside info we would really appreciate it!! Thanks!Mary
Just wondering if anyone 'on the ground', as it were, might be reading and able to help me...I was considering relocating my hairdressing business from the UK to Ireland before the economy started to go properly belly-up...now, not so much.
Are things as bad as they seem over there, or is it being over-hyped by the media? And is the government still keen to support small business people? Cos if not, I'll look elsewhere...
I am moving full time to France in Jan 2012 where I will be working as a freelance contract engineer to a number of Australian based companies. It is my choice to move to France not a work requirement. I will be renting my house out in Austrlalia and renting a house while I am in France. I hold both EU & Austrlain citizenshiip. I am married with 2 young children. Approx total family income $100k AUD. Do I pay tax in France or Australia or both ? Any help or guidance would be much appreciated.France move
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