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"You can create a viable business being an Asian designer while still being domiciled in Asia".
Rich people can be resident in Britain without being domiciled, meaning that they only pay tax on income earned in Britain.
Normally that would mean qualification for the Asian Champions League, but the AFC have previously ruled the Phoenix are ineligible due to being domiciled in a different confederation.
But Lord Ashcroft has now disclosed that under a deal he brokered with the tax authorities he became a "long-term resident" of the UK, without being "domiciled" here.
The corporation's evidence to the Treasury's Tax Principles agenda stated: "Several insurance companies … have already changed their domicile and there is speculation that some major UK-based banks are assessing the benefits or otherwise of being domiciled in the UK.
I suppose... but travel has changed the world so much, the idea of being domiciled in one place belongs to an era of sailing boats.' Hmm... well, yes and no, Nick.
Similar(53)
Many Russian shell corporations are domiciled here for tax purposes.
Allergan is domiciled in Dublin and produces Botox.
He is domiciled abroad for tax purposes, his office said.
And it's domiciled here in the US.
Shire is domiciled in Ireland, which has lower corporation tax than the US.
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