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Wolfgang Schmidt is a High Net-Worth individual and lives in Monaco. He wants to source products from the Far East for sale to one of his business associates in Brazil and wants to do this in a tax efficient manner.

Suggested solution:


Mr Schmidt can establish a United Kingdom Limited Liability Partnership whereby he and his wife are the members. The LLP can then source the products from the Far East and sell them on to the Brazilian buyer.

Payment for the transaction would be received into a UK bank account because the UK LLP is treated for taxation as a Partnership. The profits derived from the trade (s) would be attributable to the Members and taxed accordingly in Monaco.



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