F1 in Panama

[EnglishTony]

Not for a GP but for, er, business purposes.

So far mentioned :-

Nice Rosberg whose French lawyer says it's perfectly legal and who is almost certainly correct. I wonder why somebody who lives in a tax paradise needs to use Panama and according to German news sources the Channel Islands too.

Jarno Trulli who told reporters he had several companies in various countries.

Luca Di Montezemelo, currently in charge of Alitalia who claimed he had never heard of the Panamanian legal firm in question.

[belleair302]

If you live in Italy paying taxes has always been an option.....

[EnglishTony]

^^^ As long as you cough up your insurance regularly.

[Dunit]

lol, So we have a driver with a Father from Finland and German Mother ,Who is domiciled in Monte Carlo , Driving for a German company whose contract is registered with a company in the British Virgin isles!

[Eric Mc]

I bet he isn't "domiciled" in Monaco. Your domicile is where you were born.

He's more than likely "tax resident" in Monaco.

[The Moose]

Eric Mc said:

Your domicile is where you were born.

That's not true. One can change where you're domiciled.

One can also become 'non-dom'.

Edited by The Moose on Wednesday 6th April 17:07

[EnglishTony]

His father's father was German. Moved to Finland in the 30s.

German press asking why a public company, Daimler, can pay a company registered in the British Virgin Islands for the services of a driver based in Monaco, with companies in The Channel Islands and who uses Panamanian lawyers.

Also, how do they pay Lewis?

[anonymous-user]

I thought domiciled is where you put down roots and would choose to be buried rather than where you were born?

[Eric Mc]

The Moose said:

Eric Mc said:

Your domicile is where you were born.

That's not true. One can change where you're domiciled.

One can also become 'non-dom'.

Edited by The Moose on Wednesday 6th April 17:07

You CAN change your domicile - but it is actually quite hard to do so.

In most cases, where you are tax resident is the important aspect of deciding where you pay your taxes.

The vast bulk of "non-doms" living in the UK are non-dom because they were born elsewhere i.e. their domicile of origin was outside the UK. Even taking out British citizenship MAY not change your domicile - unless you combine that step with some other strong indicators that you are definitely severing ties with the country that have you your "domicile of origin".

Edited by Eric Mc on Wednesday 6th April 17:31

[Eric Mc]

garyhun said:

I thought domiciled is where you put down roots and would choose to be buried rather than where you were born?

It CAN be. For most of us, it is where we are born i.e. our domicile of origin - or where our father came from, if born (say) at sea or on an aeroplane.

You can change your domicile by showing that you have cut off all ties with your "domicile of origin" - which is actually quite a difficult thing to do.

[anonymous-user]

Eric Mc said:

garyhun said:

I thought domiciled is where you put down roots and would choose to be buried rather than where you were born?

It CAN be. For most of us, it is where we are born i.e. our domicile of origin - or where our father came from, if born (say) at sea or on an aeroplane.

You can change your domicile by showing that you have cut off all ties with your "domicile of origin" - which is actually quite a difficult thing to do.

Cheers Eric. Had a long conversation about the last point some years ago and know the issues!

[m444ttb]

In the case of Rosberg was he not born in Germany with his parents already living in Monaco, then grew up there and still resides there? On a Sky F1 guide to Monaco the other year he talked of it being his route to school.

[anonymous-user]

m444ttb said:

In the case of Rosberg was he not born in Germany with his parents already living in Monaco, then grew up there and still resides there? On a Sky F1 guide to Monaco the other year he talked of it being his route to school.

He was definitely schooled in Monaco

[Eric Mc]

His tax residency will be Monaco,

His "Domicile of Origin" is Germany.

He may have exercised a "Domicile of Choice" by opting for a Monaco Domicile but not every country recognises this option to change domicile.

[StevieBee]

EnglishTony said:

Also, how do they pay Lewis?

Bags of bling.

[EnglishTony]

StevieBee said:

EnglishTony said:

Also, how do they pay Lewis?

Bags of bling.

in plain brown paper bags Fed Ex'd to the BVI?

[angrymoby]

EnglishTony said:

StevieBee said:

EnglishTony said:

Also, how do they pay Lewis?

Bags of bling.

in plain brown paper bags Fed Ex'd to the BVI?

Doesn't need to Fed-Ex ...can take it himself whilst enroute visiting the grandparents

[CraigyMc]

Eric Mc said:

Your domicile is where you were born.

Beg to differ. http://www.lawgazette.co.uk/law/defining-domicile/...

[Eric Mc]

It's messy.