Can i create a offshore company as a UK resident

[Bendo]

Hey,

I have a e-commerce business and my suppliers are in China, can i create a offshore company outside the EU as a UK resident to support my ecom business?

Note that only 5% of my revenue are from UK customers and i want to create a bank account in the same country as the offshore company.

I will notice HMRC of this company and offshore bank account, will i pay taxes even if it's not located in UK? (in the case i keep the money offshore)

Thanks,

 

[obscure]

Setting up an offshore company is complex as is cross border taxation. If you don't understand all the issue then a discussion in a web forum will not be sufficient. You need to seek professional advise from an accountant with experience in these matters and you need to do it BEFORE you make a mistake.

1. You can set up a company in any country where the local laws allow it.

2. Don't tell HMRC anything about a company in a different country that is nothing to do with them. Get advise from a professional on what information (if any) you need to give them, then give them that information only.