I want to set up a new company and I want to legally avoid tax. I suspect I need to plan ahead the tax avoidance part before I go and create the company.
My Background: I live in UK (10 years). Originally Irish. I dont have many ties to the UK, so I can move abroad if needed.
Company Background: Company will offer digital marketing service. This can be offered from anywhere in the world thanks to Internet. Currently planning business and creating website and online portal. I'm doing everything myself and I dont have much capital - maybe a few grand at a push.
Objective: to create new company that doesn't pay capital gains or corporate tax and where I dont need to pay income legally either.
Based on all the stuff I read online, which is quite confusing, I need to do the following (please correct me is I am wrong!):
Register the company in the BVI
Create the bank account somewhere/anywhere? <---- This is where I am extra confused
Make sure the majority of revenue does not come from any one country - so need at least 3 countries paying roughly even amount?
Move to Malaysia where there is no tax on foreign income or hop around between countries traveling so I don't over stay Visas but either way don't return to UK for more than 16 days per year
If I hire staff, hire them as self employed
Will the above formula mean I am completely tax exempt?
Is there a simpler way to achieve my goal - Do I really need the BVI registered business or can I register it in UK or Ireland and get the same benefit? For example:
If I live in Malaysia (or hop around between countries) but my company is registered in the UK, if I take all taxable profits as dividends or income, then, does that equal the same tax free result as the first scenario?
What would you do?
Really really really appreciate your advice on this.
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