Offshore company + UK LLP agent

[hat]

Hi everyone,

First of, thanks for all the useful content I spent some hours browsing and reading, most informative!

I'm currently looking at options to create my own structure to offer services to luxury hotels worldwide.
My priorities are:
- Ease of use (ideally no or few financial reports, accounting etc...)
- No or low tax on the company (I will be taxed on my own income depending on where I am resident, according to local laws.)
- Strong and stable banking on the offshore company.

I don't care so much for the privacy side of it.

From all the research I've done, it seems to me that having a UK LLP acting as an agent for an offshore company is the best solution. (I won't have any activity in the UK)
I would have a reputable front to issue invoices from, do all the communication from etc...
And it would only act as a pass through, no tax on the UK side, no tax on the offshore company side either.

My questions are the following:
- First, am I missing something on the global picture here regarding the overall strategy?
- Second, which country would you recommend for the offshore company, and why? Until recently I was leaning towards Belize, but after reading about all their regulations changes, I think BVI might be better.
- Third, do I need to create 2 offshore companies to be the partners in the LLP or can I do it differently?
- Fourth, obviously: which agent can/would you recommend? I want to do everything through the same person/company, without getting scammed in the process. I'm not looking for the cheapest solution, but the most reliable.

I hope I am posting in the right section, if not, please move the thread accordingly and accept my apologies.

Kind regards,
Hat-

 

[mehgbr]

Speaking from a tax efficient perspective and from what Ive been reading around here LLP advantages are no longer great. Its better to go with a limited company and then have another offshore company take dividings with a contract

 

[onemansomewhere]

- First, am I missing something on the global picture here regarding the overall strategy?
YES. You are missing a lot..

- Second, which country would you recommend for the offshore company, and why? Until recently I was leaning towards Belize, but after reading about all their regulations changes, I think BVI might be better.
None oyu mentioned. Problem is banking + fees for transactions in banks..

- Third, do I need to create 2 offshore companies to be the partners in the LLP or can I do it differently?
NO, you need one and one partner can be you. But it is highly recommended to have a two different companies as partners

- Fourth, obviously: which agent can/would you recommend? I want to do everything through the same person/company, without getting scammed in the process. I'm not looking for the cheapest solution, but the most reliable.
There are many...

Problem which you have:

If you have UK LLP with offshore companies as partners, none bank will open a bank account for you. At least none in UK and EU.

Let imagine s**t situation:

LLP will have to have a bank account in some other offshore jurisdiction. Incoming payments fees 1 %, outgoing 2 % and more. You need to transfer also money from LLP account to bank account of your offshore company. It is additional 1 % + 2 %. You need to transfer money from offshore company to you.. additional 2 %. and I am not counting a currency exchange losses..Making a necessary bank transfers will cost you 8 % + fees for foreign currency exchange rates if not all transactions are in the same currency..
Does it make any sense for you?
Zou can have a company in Hungary with 9 % corporate tax and have dividends paid free, whereas Hungary has no withholding tax. And hungarian company can have bank account almost anywhere..