Covid-19 Bounce Back loans for property businesses16:06 PM, 5th May 2020
About 3 weeks ago 46
As I understand it, both the corporation tax rate and the income tax rate in Bulgaria is fixed at 10%, the lowest in Europe.
In addition to looking into becoming non-resident, by moving to Bulgaria, I have also been exploring incorporation relief. I cannot see anything in the HMRC manuals that says I can’t incorporate into a Bulgarian company and still claim it. Am I missing something?
If anybody else has looked into this, or better still actually done it, then I would very much like to hear from you.
Just in case you are wondering why Bulgaria, aside from the possible tax advantages, I already own a holiday home and a couple of investment properties there. When it was fashionable to buy abroad and the market was at it’s peak, that’s when I jumped in. If only I had known then what I know now! The property prices have since crashed and if I were to sell them I would lose a fortune. That said, I thought I had done my due diligence when I purchased the properties and I did go over to Bulgaria several times, and have been doing so ever since. It is a stunningly beautiful Country and I could see myself living there if there were other advantages for doing so.
Please forgive me for remaining anonymous, I am not even a member and do not intend to be because I cannot envisage that I will ever post comments. However, I do regularly visit the website to read the News and forums and I am genuinely interested in any feedback on the questions I have raised here, regardless of whether it is positive or negative. Hopefully my questions will still be published despite the fact I’m not a member, because I cannot possibly be the only UK landlord to have invested into Bulgaria and considered living there.
Thanks in advance
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