Offshore company for e-com site

[Block]

Hi guys,

long time readers, first time poster.

I have a question, I have searched but not found anything to answer my specific questions, hope someone can help.

We have a e-com website, its going well, we are based in the UK, but we need to "relocate" due to incoming legislation which our competitors who are registered offshore will not have to deal with.

We are not trying to actively reduce our tax bill, however it would be a bonus.

Can we simply open a company in say RAK, or HK or jersery and open a new bank account for this offshore company in the UK and continue trading?

 

[Billy the gambler]

Hello folks,
Similar question for me (btw this is my first post I'm going to open an ecommerce (fashion)store using shopify platform and would like to set up in such a way that we can legally avoid taxes and have a easy access bank account to pay suppliers, apps, receive and so on.

What would be the good way to get going?

Looking forward to some input. Now I'm looking at Euro pacific Bank as it is advertised her on site. Does this work for me?

PS Block I'm not trying to hijack your question, but it seems to me that any answer would work in our mutual favor.

PPS I've looked into HK Ltd, but issues are opening a bank account.

 

[Milky Moon]

Looking forward to some input. Now I'm looking at Euro pacific Bank as it is advertised her on site. Does this work for me?

Don't use EPB. If that is your only option, review your structures again.

PPS I've looked into HK Ltd, but issues are opening a bank account.

Neat Business seems promissing. (their personal accounts work)

 

[Billy the gambler]

Don't use EPB. If that is your only option, review your structures again.



Neat Business seems promissing. (their personal accounts work)

Thanks!

Wondering if anybody has used neat business combined with an HK Ltd. ?
That would be a great solution for many... I think!

 

[Billy the gambler]

additionally here you can read more about Neat Business Banking. I found it interesting even though they are somewhat still in a Beta fase.
A Solution for the Hong Kong Banking Nightmare? Introducing Neat - Online HK Business Banking & Connect Your Paypal/Stripe - Global From Asia

 

[JohnLocke]

Don't use EPB. If that is your only option, review your structures again.



Neat Business seems promissing. (their personal accounts work)

did you tested the personal account yourself? are they real accounts and is this a bank?

 

[Billy the gambler]

Thanks Admin. I'm also hoping to get some in dept feedback about Neat business Banking. If they can really do what is displayed this will be very promising, but maybe it sounds to good to be true?
PS According to their info a real bank and real bank account is opened/attached to their system. I've read some of their info and have not found the licence (number?) etc. where one can check if they have one.

 

[Juoffshore]

Hi guys,

long time readers, first time poster.

I have a question, I have searched but not found anything to answer my specific questions, hope someone can help.

We have a e-com website, its going well, we are based in the UK, but we need to "relocate" due to incoming legislation which our competitors who are registered offshore will not have to deal with.

We are not trying to actively reduce our tax bill, however it would be a bonus.

Can we simply open a company in say RAK, or HK or jersery and open a new bank account for this offshore company in the UK and continue trading?

If you manage your new offshore company from the UK, and if all the decision are taken in the UK your offshore company will be tax as a UK company. A very important thing is to decide from where your offshore company will be managed. Create an offshore company is not enough to avoid to pay tax in the country where you reside.

 

[Billy the gambler]

If you manage your new offshore company from the UK, and if all the decision are taken in the UK your offshore company will be tax as a UK company. A very important thing is to decide from where your offshore company will be managed. Create an offshore company is not enough to avoid to pay tax in the country where you reside.

unless you are not registered (or anywhere else)

 

[Milky Moon]

did you tested the personal account yourself? are they real accounts and is this a bank?

Yes I tested their personal account.

* Not a individual bank account (yet)
* Stored Value Facility (sub)licencse in Hong Kong (EMI like)(via ePaylinks Ltd).
* You get a debit master card in HKD (which worked as expected, you can pay for a HK simcard using the card)

 

[fshore]

due to incoming legislation

What is the new legislation about?

 

[undercover]

What is the new legislation about?

would like to know that too?

 

[diablo]

Can we simply open a company in say RAK, or HK or jersery and open a new bank account for this offshore company in the UK and continue trading?

that should be possible, question is if the UK tax auth. will ask you to pay tax from the income offshore?!

 

[Edge]

Now I'm looking at Euro pacific Bank as it is advertised her on site. Does this work for me?

Run away, run away!

 

[negon]

They suck big times.. use Mr. T , Cyprus bank or other similar service.

 

[Spinat]

OP what's the outcome so far, mind to share?