HK Company Structure

[kt88]

Hello,

I am a digital marketing freelancer, and I am looking to start a HK company for a new venture.

I had a call with an offshore company provider (Turner Little), who proposed a HK company with a nominee director and a Belize Trust Shareholder. He said that because I am not technically in control of the company, I don't need to declare to HMRC that I own the company - only that I get paid from this HK company via a salary. Does anyone see any problems with this?

Having done a lot of research into the HK structure, I have seen that it is very difficult to open a bank account for a HK business - and there may also be issues with Transferwise. Is there a country for banking that would accept a HK company? It is essential I get a Payoneer account, aswell as a PayPal account for this company structure for it to work.

Thanks for the advice

 

[kt88]

If anyone can offer advice, I would be most appreciative

 

[OffshoreDurian]

What would be the disadvantage of reporting your company to the HMRC if you already report your salary? As long as you keep earnings in the company, you won’t need to pay personal income tax on it.

It’s already become increasingly difficult of opening a bank account as it is, hiding behind a trust will just make it much more difficult if not impossible without disclosing the UBO.