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If your intentions are to put your money offshore and not declare it to the tax authorities, you are doing risky stuff and I would not recommend it! Being a UK residence you will have to declare the 500k£ in the UK, failing to do so could get you into big problems. To avoid tax, then move to...

Maybe the rumour is coming from the news that N26 bank is leaving the UK because it will lose it's license and all British accounts of N26 bank will be closed down. Digital bank N26 to close all accounts and pull out of UK because of Brexit

If you have a residency visa for the UAE and you are living there, then I also see no problem. You are then a tax resident in the UAE and that is the country where you pay your taxes, and so it happens their tax laws say that there is 0% tax on income. Not any different to living in a different...

Thanks for the reply! But something I don't understand, the company should only hold the IP so no bank account. What has tax got to do with the company then?

What do you mean with 'need to have presence based'?

Hi Everyone, What would a good and cheap option be to set up an offshore company that will hold intellectual property (website/trademark). The company does not need a bank account, just so that company will hold the IP. Thanks!

At least your agency seems to be honest. Many agencies will say that it's no problem to open a bank account for your offshore company, but when you try and it's not possible, they will often offer to introduce you to the bank for a fee, but they already know it's not going to work.

I agree with user9823671, it will be very difficult if not impossible to find a bank that will open an account for your Nevis company. Maybe a virtual bank account, but impossible to link paypal or creditcard payment gateway to it. It's no problem to run your business without a bank account...

Yes, will do. But from what I have understood, it should be absolutely no problem to open a bank account in the UAE for the RAKK IC company. Not sure if you want to open the account in a different country. I will first try in the country of my residence if this will not be possible, then I'll...

I'm setting up a RAK ICC company now, the fees for setup and first year are $3000 Second and subsequent years $2600 via a registered RAK ICC agent. Features ”¢ 100% Foreign Ownership RAKICC International Company Regulations require no “local” shareholding. ”¢ Choice of Law Although all UAE...

If you want to be a residence in Dubai, wouldn't you need to have a lease agreement for a property you are renting?

Hi Guys, I had the meeting and this was the advise: (keep in mind, my goal is to run a legitimate company to do fair business and no intentions for tax invasion. Setup company on the BVI is possible with bank account, but to get a bank account it's not so very easy and many banks will not even...

Do you mean you live in Nevis or you have a company based in Nevis?

In Bahrain, that's where I'm living at the moment.

Thanks James! I have a meeting with a company this week that is specialised in setting up offshore companies and trusts etc. I will also ask their opinion. Will post their recommendation here.

Thanks for your reply!

Thanks! Are you saying it's impossible to get bank account with Nevis or BVI company? As I do see services/companies on the internet that offer setup of BVI / Nevis company with bank account.

Dear People, I'm looking to set up an offshore company for internet business. I'm an expat traveling and living around the globe, every few years I move to a different country. So setting up a company in the current country I live now and having to close when I move again doesn't make any...