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Any UK People here that can recommend offshore company and bank setup?

Discussion in 'Business & Tax Advice' started by laddytoads, Feb 14, 2012.

  1. laddytoads

    laddytoads Newbie

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    Hi, looking to set up a company offshore for tax reasons as most of my income is done online in dollars.

    Anyone in the UK that could recommend a good service that set this up with Barclays offshore as well in Seychelles.

    Thanks
     
  2. wannabie

    wannabie Elite Member

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    Ask redknapp?

    In the long run its cheaper to pay tax if you get caught
     
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  3. laddytoads

    laddytoads Newbie

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    Haha, this is a legal loophole!

    Nothing wrong with setting up offshore when you dont make money in the UK. Its the smart thing to do!
     
  4. oxonbeef

    oxonbeef BANNED BANNED

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    Not as exclusive as Rosie in Monaco but I can offer you Tyson on Canvey Island.
    http://newsthump.com/2012/02/08/redknapps-dog-gets-five-years/
     
  5. laddytoads

    laddytoads Newbie

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    Cheers for the great advice you two fools :D
     
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  6. gilbertbank

    gilbertbank Newbie

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    Look for info to set up a llc in the us, Delaware. Set that up and you are sorted with dollars and us tax as you are uk resident. Barclays and HSBC have branches and you have to be known to the bank to open account in us. Get advice about evasion and avoidance.
     
  7. Harley1

    Harley1 Newbie

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    Gibralter.
     
  8. oxonbeef

    oxonbeef BANNED BANNED

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    Here you go mate try these.
    Code:
    http://www.turnerlittle.com/
    I've spoken with them on the phone and they seem very professional
    and they've been around for a few years now.
     
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  9. savvypro

    savvypro Regular Member

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    Your income may be done online and in dollars, but as long as you live in the UK for more than 90 days a tax year. The tax man will want their cut.
     
  10. jerra

    jerra Regular Member

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    Try HSBC. They can help you, I know they offer this facility.
     
  11. BlueTurtle

    BlueTurtle BANNED BANNED

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    You only have to pay tax on personal income that you bring into the UK. There's nothing stopping you running other companies in places like the isle of man.

    Money that you keep in the business you only pay the company tax for the country the company is registered in.

    Most big companies pay very little tax, it's silly to do online marketing with a UK Ltd company. You only need a UK Ltd if the company is doing business in the UK, but even then you would just create other parts of your company offshore and limit the part of the business that operates in the UK.
     
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  12. wannabie

    wannabie Elite Member

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    Have you got a source of that info? If that's true and I can do that then I'll pay for jrvip for you

    Im not taking the piss either

    Have you done that yourself? Seems bit too easy
     
  13. BlueTurtle

    BlueTurtle BANNED BANNED

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    Sent you a pm.
     
  14. savvypro

    savvypro Regular Member

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  15. BlueTurtle

    BlueTurtle BANNED BANNED

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  16. BenRosa

    BenRosa BANNED BANNED

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    Gibralter.
     
  17. savvypro

    savvypro Regular Member

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    Very important point which I meant to bring up. Salary and "dividends" are two different things.


    Never said you were, I only brought up Google because the hypocrisy (I posted about this in a different thread in this forum), was so blatant it was a joke. But only people who understand the difference between tax evasion (going out of your way to pay no tax) and tax avoidance (legal tax reduction) would see the hypocrisy.


    Agreed, although when it come to this subject I take the view: belt + braces + hazmat suit. As you never know what will happen. Laws can be changed (takes time), or a new interpretation of the law is defined (less likely, but one should have a contingency plan - if it does happen. Duct tape in my metaphor). So I think it's best to plan ahead - but that's just me.

    Under the rules of the IRS, it's US profits. The series LLC that I just setup, will not be doing any trading, as it will be a holdings company. So I have my basis covered on that. When I trade there, I'll be setting up different LLC's, in favourable states, and they will outsource as well as onsource.

    You are right, but only when everything is done in the Seychelles. As in: you fly there and do everything in person. Where the UK HMRC can find out, is if you use an incorporation company in the UK - to do the leg work. Using a UK lawyer could give you some protection, but the physical act of doing it in person, should mean that you ensure the separation. But not everyone is that disciplined.

    Talking about the Seychelles, any recommendations on who to use. I was planning on setting up the holdings company there (because of the series option), but while looking to setup a LLC in New Mexico, I came across another option.

    "not any UK Ltd company" I assume you mean: not the UK Ltd

    It's that way at the moment, but one should plan for when it changes to the way it is in the USA - where you personally have to disclose everything.

    I can see an issue with what you said, but it's with how it is implemented.

    Namely, using shell or dummy companies which don't actually do anything. If this can be proven (lets assume they can), then you are in deep sh*t. But if the offshore companies are real (not just a mailing address and a phone number), and they actually do things, have employees or subcontractors etc., then that's a different issue.


    The only thing I can add is: I'm not a lawyer or accountant. So anyone reading this thread should do their homework and find competent professionals. Don?t just rely on what they say, check for yourself, because at the end of the day - it will be your arse on the line. Oh, and always have a backup plan.
     
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  18. BlueTurtle

    BlueTurtle BANNED BANNED

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  19. savvypro

    savvypro Regular Member

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  20. BlueTurtle

    BlueTurtle BANNED BANNED

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    Yep :)

    The easiest solution for tax avoidance if you're going to be making a *lot* of money is to just go offshore 6 months of the year. That's my plan once I'm making over $1mil/year.

    For st vincent & the grenadines bank account, yep. You'll just need copies of your identification documents for them for the records.
     
    Last edited: Feb 20, 2012