- I'm an IT contractor in the UK and operate through a limited company that I own.
- The business is getting £700 (139,029 JPY) per day. I've had this contract since 2021 and expect it to last a couple more years.
- The business has around £100k (19,861,229 JPY) of available cash in case of emergencies (like losing a client).
- I pay myself about £46,000 (~9,138,667 JPY) per year from the business (a mix of salary + dividends)
My personal income is therefore just shy of the 10 million JPY Digital Nomad Visa income requirement. I have a couple options available to me and I was wondering if anyone here could advise:
- Do nothing—if they take into account the money going into the business (~33.3m JPY per year) that I own, then I meet the requirements. This would be the easiest option for me. I could provide them with signed contracts, etc.
- Pay myself more dividends from the business. I'd rather not do this if I don't have to, but I could do this if they don't take into account my business money.
I'm loosely aiming to fly out in May next year so I have some time to make adjustments.
I was unable to find posts by others in a similar position to me, so would be keen to hear about the experiences of other contractors.
by Ok_Engineering1213