Jul 292014
 

“Hi, I’m here for my appointment to set up a corporate bank account.”

“Ah, mr. Reinink, yes, yes, of course, have a seat, so glad to have you, welcome.” (The guy wasn’t wringing his hands together. Yet…) “Your passport, good, good. And your deed of incorporation, great! And… Oh… You ehm… Brough a lease as your proof of residence…?”

Jep, that's me. Except for the flames perhaps...

Jep, that’s me. Except for the flames perhaps…

It all started a while back. I got a phone call from one of the intermediaries I was in contact with once and awhile. “We’ve got the perfect job for you, how would you feel about building a model in London?”

Before he had stopped speaking I was doing laps and high-fiving random people, though coolly I answered: “Well, maybe. Let me think about it…”

I had a chat with the manager who seemed to like me and the job seemed interesting; we both said yes.

That’s when the hoops started.

The client was British, so they didn’t know what to do with a Dutch sole trader. “Set up an English limited or you’re not getting the job!” Was their solution. Not a big problem, but very inefficient tax-wise.

“Can’t my intermediary hire me?” – “No!”
“Can’t someone else set up the company and you hire me through that company?” – “No!”
“Can I set up a shell company in the Caymans that then sets up a different company in the UK which buys up your bank but only siphons off just enough money to pay me for the work I do?” – “No!”
“Can you pay me more to at least make up for part of the tax benefits I’m missing?” – “N… Oh, all right then, but stop whining!”

Besides having to jump through some hoops I actually am very happy to be here in London. I guess it’s good to have some frustration so you can enjoy the good parts even more. If I keep telling myself that, maybe I’ll actually start believing it?
So I had to set up a UK company. Which was a bit of a hassle: Getting incorporated, buying insurance. Nothing too serious though.

Until I tried setting up a bank account.

“Mr. Reinink, we really do need proof of residence. And this lease, the one paper that actually allows you to stay in the place you’re living, well, it obviously isn’t good enough! Don’t you have a UK driving license, don’t you pay London taxes, don’t you have a utility bill?”

Seriously?!?

And guess what? No bank account, no place to send my money and thus no payments…

Go to London they said. It’ll be fun they said…

Grmbl!!!


Bastiaan ReininkI’m Bastiaan. I write this blog to give you some insight into the things I run into and perhaps to inspire you to go in search of your own life extraordinaire.

I love to connect, so if you have thoughts, ideas or questions based on this (or another) post, please leave me a comment!

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