As you describe it above yes you will have to pay tax, but the way I did it, then I don’t have to pay tax.
Since I used a nominee director and shareholder which both are foreigners and that makes my company to have the status of an IBC ( International business company)
It depends on the country where you live in if it is of any benefit that you enter into the company as a Director, since for instant (you are from the UK) if you live in the UK the authorities will quickly get
informed that you are a Director of this company, so you should not do that.
Hope it helps for clarification else reply.