TARGET MARKET:
Self employed consultants working outside their home country
BRIEF DESCRIPTION:
The consultant negotiates with the user of his/her services to enter into a contractual relationship with his/her Isle of Man consultancy company so that gross fees can be invoiced from and paid into the Isle of Man.
The consultant then draws a salary from his/her consultancy company to meet day to day living costs in the country where performing services.
BENEFITS:
Subject to tax rules in country where services are provided, the profit made in the Isle of Man consultancy company is accumulated free of taxation.
OTHER ISSUES:
VAT needs to be considered as well as host country’s direct tax rules.
