Can i create a offshore company as a UK resident

Discussion in 'Legal' started by Bendo, Oct 24, 2018.

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  1. Bendo

    Bendo UKBF Newcomer Free Member

    5 0
    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,
     
    Posted: Oct 24, 2018 By: Bendo Member since: Oct 2, 2018
    #1
  2. obscure

    obscure UKBF Ace Free Member

    3,026 729
    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.
     
    Posted: Oct 24, 2018 By: obscure Member since: Jan 18, 2008
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