UK LLP shananigans

[bringa]

Hey guys,
Is the following brain exercise sstructure - legal?

1. Forming 2 of the cheapest offshore companies where I'll be owner / director.

2. Form UK LLP, where the 2 offshore companies are the partners in it. the actual business will operate under the UK LLP. Receiving payments from customers for an online service.

3. By living in a country where there's no income tax or low income tax and no PE issue, sign some work contract with the LLP as individual freelancer or individual entrepreneur and then invoice the LLP for some service like consultstation, management, operation or wherever and in this way the LLP will pay me all of its earnings as a company expanse?


4. I will personally only pay close to 0 or 0 tax where I reside for this income/ profit from the LLP.

5. a. All of the above is done with crypto but still if one day I'll exchange crypto to fiat and want to deposit it to my country bank account and they will ask questions, I can show that it came from the UK LLP - which looks better on paper than some Caribbean island company.

5. b. If needed the UK LLP can also open an EMI account or maybe even UK paypal to accept fiat payment from customers? (Its not a must but i assume its dosble?

and BTW, the reason for such structure is to get legit jurisdiction to operate the business with no local tax there + privacy and personal liability protection structure.

I guess the world today already fight all of this even if the business is completely legal But I would be happy to learn if I'm wrong and its actually possible and legal
and if not, what are the issues with this structure.

Thanks

 

[Jerry1911]

There's no privacy with UK LLPs, you need to disclose the UBO (PSC) and that information is public.

You will also get rejected by every single bank in existence.

 

[bringa]

There's no privacy with UK LLPs, you need to disclose the UBO (PSC) and that information is public.

You will also get rejected by every single bank in existence.

I meant privacy from customers, not using my own name but using company + liability protection. and like I wrote, will use crypto, the only time not using crypto is if exchanging it and depositing to local bank and show that it was received by UK LLP.

My question is if the setup is legal

 

[fshore]

You said you'll invoice the LLP, why would you invoice it if the LLPs income is taxfree in your country?

 

[wonderfulboy]

You will also get rejected by every single bank in existence.

why ?

 

[bringa]

You said you'll invoice the LLP, why would you invoice it if the LLPs income is taxfree in your country?

1. I have two scenarios
Low tax country and 0 tax country.

2. Any way at some point some of the funds would be converted to FIAT and deposited in personal a bank, and the bank will have questions and why to see the source of funds

 

[bringa]

so
No idea if it's legal or not?

 

[fshore]

so
No idea if it's legal or not?

What exactly? And in what country? How can anyone know if something this vague is legal in an unspecified country?

 

[bringa]

the question if this structure can be used legally. Lets 2 countries as an example:

1. Georgia
2. Thailand

 

[fshore]

the question if this structure can be used legally. Lets 2 countries as an example:

1. Georgia
2. Thailand

It's not illegal, but the problem with owning and running foreign companies is that they might be considered as a local tax resident, and have to pay local taxes and follow local regulations. It varies how this is enforced. Thailand doesn't seem to go after foreigners that own foreign companies that only trades with foreign companies.