Offshore Company Tied To UK Company.. What Is The Best Way?

[eComGuy33]

Hi,

I currently have a UK company from which I am trading, however, I would like to look at setting up an offshore company in order to link to the UK company in the most efficient way possible. Currently, I'm a Non-Resident of the UK

I'm looking to reduce my UK tax liabilities to begin with, and then wind up the company once the offshore company is able to take over the business.

I have some questions:

- What is the best way to do this?
- What offshore location is the best? (I'm thinking of doing this in Hong Kong)
- Are there any regulations / laws stopping me from doing this legally?
- Would the UK be able to find out I control this foreign company.. If so, what are the implications?

Any help or guidance on this would be greatly appreciated.

Thanks,
eCom Guy

 

[bountymounty]

- What is the best way to do this?

UK companies are allowed to appoint offshore companies as director and beneficial owner, you may consult a CPA for transferring shares and do proper tax planning.

- What offshore location is the best? (I'm thinking of doing this in Hong Kong)

HK is good but expensive, very expensive! I would setup something in BVI or Cyprus!

- Are there any regulations / laws stopping me from doing this legally?

never ask for such questions on a public forum, consult a lawyer that is able to help you.

- Would the UK be able to find out I control this foreign company.. If so, what are the implications?

as I read it from other forum threads. If a person from the UK earns money from a offshore company it is not taxed! Or it is if a non resident do that.. not sure how it was.