I'm looking for some general guidance on a legal company structure that I am planning on setting up abroad.
I will not be managing or running the company at all, it would be a family investment company.
The company will be setup in a 0 tax jurisdiction I would be the shareholder and I would appoint a family member who is domiciled, and resident abroad.
When I look online at companies who do the formation the forms you have to fill out are confusing.
As they ask for ultimate beneficial owner. And I am wondering if that effects things for tax purposes? As far as I understand it as long as investment decisions are made by the family member abroad then the company is not tax resident in the UK.
Would I be classed as the UBO as the sole shareholder or would it be the director? I would only gain if a dividend is payed out - and this dividend would be taxed as my UK income.
I have phoned around a few local accountants and I am still looking for one that knows about offshore rules but it seems they are few and far between.
I may also setup a second company that I would be director of, and shareholder that I would register with HMRC and this will be a trading company based in the UK and I could use the non resident company to buy stock which can shift a small amount of profits abroad legally.
Could anyone here tell me if they see any problems with this setup?
Thanks
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