Take a loan in offshore company is that ok to avoid tax?
- Thread starter JohnSeed
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As long as the money is in Hong Kong, its yoru company's money, and you're the owner of the company. The company is a different entity, and as long as the money is in your name, no one is going to come after that money, cos the money belongs to the company. You make that money for the company so you draw a minimum wage and pay taxes for it, and get the company to give you perks such as rents and flight tickets. Your money gets added up in Hong Kong in your company's account and since you're the sole owner of the company its all your money, in the company's name. your govt can come after money thats in your name, but not in the name of a comapny that you own that is actually making the money and paying you a salary.
If you want to exit, which you wouldn't have to imo, just open a company at some off shore location, and make your hong kong copmapny pay for 'services' to your new company, and your money in Hong Kong is out and into your new company's account. Invest that money in all those weird Cayman Islands mutual funds if you don't know what to do with it
If you want to exit, which you wouldn't have to imo, just open a company at some off shore location, and make your hong kong copmapny pay for 'services' to your new company, and your money in Hong Kong is out and into your new company's account. Invest that money in all those weird Cayman Islands mutual funds if you don't know what to do with it
The loan agreement between you and your offshore company will only work if you have inserted real nominee director and shareholder, the company is required to have accounting and file tax reports each year. So you will need a good tax lawyer locally to help you once the taxman is knocking on your door fin4774"
This can only work if you make use of a good tax lawyer and accountant that closely work together to setup this loan agreement so it looks natural and not something fake.
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