Offshore Company + bank account (already established) + new UK LLP based in EU to avoid taxes - advice welcome

[Infoseeker1979]

Hello,

I am new to this forum and I really appreciate all tips and tricks I have found - a huge source of information! so thank you all.
I need to route money coming from customers based in EU to the offshore company without paying taxes.
My idea is to open an LLP based in UK with EMI bank account, receive the payments and route it to the offshore company (via an intermediary company) based in Portugal.
Would this help me to avoid the fillings (paying taxes) in the UK?
Thanks

 

[Gediminas]

Hey,

UK applies controlled foreign corporation (CFC) rules and Permanent Establishment (PE) rules, these will not allow you to save taxes in such a simple way. If you prefer to set up a long-lasting and legally stable structure you would need to work with residency solutions and/or create a certain substance level in abroad companies. You can also take into account the common reporting standard (CRS), i.e. information about the beneficial owner is provided to your tax residency country either by EMI or by the bank (with certain exemptions).

 

[Infoseeker1979]

Hey,

UK applies controlled foreign corporation (CFC) rules and Permanent Establishment (PE) rules, these will not allow you to save taxes in such a simple way. If you prefer to set up a long-lasting and legally stable structure you would need to work with residency solutions and/or create a certain substance level in abroad companies. You can also take into account the common reporting standard (CRS), i.e. information about the beneficial owner is provided to your tax residency country either by EMI or by the bank (with certain exemptions).

Hello
please note that the LLP will have nominees. and we would leverage an EMI (advices on the best one?) also, the management is not sitting in UK but in europe

 

[Gediminas]

please note that the LLP will have nominees

It doesn't matter, you still have to disclose UBO information to the bank/EMI.

 

[CaptK]

Hey,

UK applies controlled foreign corporation (CFC) rules and Permanent Establishment (PE) rules, these will not allow you to save taxes in such a simple way. If you prefer to set up a long-lasting and legally stable structure you would need to work with residency solutions and/or create a certain substance level in abroad companies. You can also take into account the common reporting standard (CRS), i.e. information about the beneficial owner is provided to your tax residency country either by EMI or by the bank (with certain exemptions).

This is the only way unless you move the company to Mauritius then you would be better suited.
BIG question is where do you have residency ie where do you currently pay your tax.

 

[Infoseeker1979]

This is the only way unless you move the company to Mauritius then you would be better suited.
BIG question is where do you have residency ie where do you currently pay your tax.

my residency is in CZ and i am not CZech myself. The LLP or (LTD?) wouldn't have its place of business in the UK

 

[CaptK]

Its a very fine line but you could use a UK LTD or LLP.
You would be better to use a nominee structure.

 

[Infoseeker1979]

Its a very fine line but you could use a UK LTD or LLP.
You would be better to use a nominee structure.

yes to be honest i forecast high monthly cashflow - do you have any EMI to suggest?

 

[Gediminas]

Try Bankera

 

[Infoseeker1979]

Try Bankera

thank you very much super helpful

 

[Infoseeker1979]

Try Bankera

they have a limit of 300k per month.. what if i would need up to 1 M per month? hard with an EMI

 

[Infoseeker1979]

Try Bankera

plus i see they are agent of Pervesk - so maybe is best to go with them anyway?

 

[Gediminas]

plus i see they are agent of Pervesk - so maybe is best to go with them anyway?

Drop me an email, I will give you more details, if you wish.

 

[Infoseeker1979]

Drop me an email, I will give you more details, if you wish.

sure i have contacted you on your website.. i don't have your email