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Arbing/sportsbetting TAX Free Countries

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BudSpencer
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Re: Arbing/sportsbetting TAX Free Countries

Sat Jan 20, 2018 11:32 am

Alfa1234 wrote: For those looking to turn some arbing profits into "legitimate" income to be able to get a bank loan, you could start a company in a low-tax EU country and draw an official salary from it.  Your main occupation in that case will be working for that company, so any "additional" income from arbing, can be attributed to simple (untaxed) gambling.
how easy is that to organise?

It is a nice idea, even if it´s not for loan, you got a "income" to show.
But is that not complicated? I mean, if you go abroad you have to do so many things, so many changes....
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Re: Arbing/sportsbetting TAX Free Countries

Sat Jan 20, 2018 1:08 pm

Do a google search and check for companies that open off shore companies for you...there are dozens.  Ask them to recommend you the best location and explain to them what you want to do.  I suggest EU if you live in an EU country, but it can be anywhere really.  Keep in mind banks will like income from working for an EU company better than working for say a Seychelles company. Be prepared for a setup cost of several k and keep in mind you will pay tax on every € you give yourself as a salary. 

Most companies will recommend a local accountant that can speak English.  It's a bit of work to get it setup but hey...so is arbing.  It all depends on how much you make and how badly you want "official" income.
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Re: Arbing/sportsbetting TAX Free Countries

Sat Jan 20, 2018 4:27 pm

Thanks for your input vinciguerra.
vinciguerra wrote: As a general rule you pay tax in the country you physically live in for most of the year [...] there may be unwanted side effects (eligibility for state pension when you're old etc).
That's exactly the problem I am having and also concerning the health care system (which is more efficient in my country), it's why I prefer to keep my main resident status outside the UK.

What about if I spend more time in my original country than the UK, do you think the tax department of my original country might ask me to pay taxes for the money I earned in the UK? I don't think that would be possible. What do you think??
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Re: Arbing/sportsbetting TAX Free Countries

Sat Jan 20, 2018 7:40 pm

That depends on the country.  Most likely your country has a tax treaty with the UK to avoid double taxation.

You can check it here:
https://www.gov.uk/government/collections/tax-treaties
Asher
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Re: Arbing/sportsbetting TAX Free Countries

Sun Jan 21, 2018 1:57 pm

Thanks Alfa1234. I suppose I should contact the tax department of my official residence country to know more about it.

Previously you said you
keep a detailed record and accounting of all your bets
I agree with you. Do you use a specific service for that like this one or do you simply use excel sheets?
Last edited by Asher on Sun Jan 21, 2018 2:01 pm, edited 1 time in total.
Alfa1234
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Re: Arbing/sportsbetting TAX Free Countries

Mon Jan 22, 2018 1:46 pm

I just use exel...
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Re: Arbing/sportsbetting TAX Free Countries

Mon Jan 22, 2018 6:26 pm

Hi Alfa and Asher. Have you tried Smart Bet Tracker? We have many Excel fans among our users who ended up switching to our service  ;)

Any question just tell me.
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Re: Arbing/sportsbetting TAX Free Countries

Tue Jan 23, 2018 7:48 am

I m coming back to the original question of the op. The starting point is the selection of tax residency and if he is ready to take any step for it.

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