Lithuania is situated in northeast Europe and is one of the
so-called Baltic States. It has borders with Estonia, Belarus,
Poland and Russia and a coastline on the Baltic Sea. The population
is around 3.5m and the capital city Vilnius is one of the
oldest towns in Europe. Other major cities include Kaunas
and Klaipeda. Lithuania enjoys a maritime climate with pleasant
but sometimes wet summers and cold winters.
The Lithuanian telecommunications infrastructure is undergoing
modernisation, with excellent mobile phone coverage from three
main providers. There are also many Internet cafes in the
main cities. There are almost 800,000 landlines in use and
over 5m mobile phones. There are 1.8m Internet users in the
country.
The Lithuanian road network has taken a long time to be brought
up to modern standards, and recent estimates revealed that
there were just 309km of motorways in the country. There are
however some important routes that traverse Lithuania, notably
the Via Baltica from Helsinki to Warsaw and Budapest and routes
with destinations including Berlin, Gdansk and Bucharest.
The infrastructure of Lithuanian railways is still below the
accepted European standard, but modernized rail routes linking
Vilnius with Warsaw, Kaunas and Riga are planned for completion
between 2010 and 2016.
There are three international airports in Lithuania (Vilnius,
Kaunas and Palanga). Vilnius airport has good air links with
the rest of Europe and an expansion and modernization of the
airport is planned.
The central bank is the Bank of Lithuania, which issues currency
and controls monetary policy. Opening a bank account in Lithuania
is fairly straightforward; citizens of the European Union
will generally just need a passport and ID card to open an
account. Non-EU/EEA citizens will have to supply evidence
of a residence permit in addition to the standard forms of
identification.
Accounts can be operated in Litas or other currencies, and
all the usual facilities are available including ATMs, internet
banking and debit and credit cards.
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
Cyprus
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