Offshore Company + bank account (already established) + new UK LLP based in EU to avoid taxes - advice welcome

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Infoseeker1979

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May 25, 2020
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Hello,

I am new to this forum and I really appreciate all tips and tricks I have found - a huge source of information! so thank you all.
I need to route money coming from customers based in EU to the offshore company without paying taxes.
My idea is to open an LLP based in UK with EMI bank account, receive the payments and route it to the offshore company (via an intermediary company) based in Portugal.
Would this help me to avoid the fillings (paying taxes) in the UK?
Thanks
 
Hey,

UK applies controlled foreign corporation (CFC) rules and Permanent Establishment (PE) rules, these will not allow you to save taxes in such a simple way. If you prefer to set up a long-lasting and legally stable structure you would need to work with residency solutions and/or create a certain substance level in abroad companies. You can also take into account the common reporting standard (CRS), i.e. information about the beneficial owner is provided to your tax residency country either by EMI or by the bank (with certain exemptions).

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Gediminas said:
Gediminas said:
Hey,

UK applies controlled foreign corporation (CFC) rules and Permanent Establishment (PE) rules, these will not allow you to save taxes in such a simple way. If you prefer to set up a long-lasting and legally stable structure you would need to work with residency solutions and/or create a certain substance level in abroad companies. You can also take into account the common reporting standard (CRS), i.e. information about the beneficial owner is provided to your tax residency country either by EMI or by the bank (with certain exemptions).
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Hello
please note that the LLP will have nominees. and we would leverage an EMI (advices on the best one?) also, the management is not sitting in UK but in europe
 
Gediminas said:
Gediminas said:
Hey,

UK applies controlled foreign corporation (CFC) rules and Permanent Establishment (PE) rules, these will not allow you to save taxes in such a simple way. If you prefer to set up a long-lasting and legally stable structure you would need to work with residency solutions and/or create a certain substance level in abroad companies. You can also take into account the common reporting standard (CRS), i.e. information about the beneficial owner is provided to your tax residency country either by EMI or by the bank (with certain exemptions).
Click to expand...
Click to expand...
This is the only way unless you move the company to Mauritius then you would be better suited.
BIG question is where do you have residency ie where do you currently pay your tax.
 
CaptK said:
CaptK said:
This is the only way unless you move the company to Mauritius then you would be better suited.
BIG question is where do you have residency ie where do you currently pay your tax.
Click to expand...
Click to expand...
my residency is in CZ and i am not CZech myself. The LLP or (LTD?) wouldn't have its place of business in the UK
 
Its a very fine line but you could use a UK LTD or LLP.
You would be better to use a nominee structure.

Last edited by a moderator: May 28, 2020
 
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