Do I need to have a Trust - UAE/Cyprus - UK Tax payer

[benben12]

Hi I currently I UK LTD company, I want to reduce my Corp Tax bill. Thinking of setting up in UAE or Cyprus. My main issue is if I set up a company in my own name will the UK tax authorities just not allow this and still declare I pay the tax in the UK? Is it better appointing someone as director and having trust and hiding behind this?

Is anyone else set up like this and if so what has been your experience of this?

 

[Roamer]

There are many aspects to be careful about:

1. tax residency (central control and management)
2. transfer pricing (exempted or not)
3. controlled foreign company (especially as a sole shareholder of both LTDs)

Letting some others reply on what setup is suitable but you should probably provide figures on your some pretax profits.

See www.taxjournal.com/articles/uk-smes-expanding-overseas-through-a-local-subsidiary