Offshore Sole Proprietorship

DCART

Is it possible to form an offshore sole proprietorship business entity like onshore?

CTA_2

DCART wrote: »

Is it possible to form an offshore sole proprietorship business entity like onshore?

If you are referring to acting as a "sole trader", then this isn't an entity as you refer to it.

A sole trader is not a separate legal entity in English Law like a limited company is. There is no distinction between the individual and the business that the individual operates.

Therefore, it is not possible to form an onshore sole trader entity as no such entity exists.

If you wish to trade as a sole trader, but be "offshore" you would need to be non-uk resident AND not trading in the UK. To be honest, you need to give more information as to what you like answered.

Cook_County

DCART wrote: »

Is it possible to form an offshore sole proprietorship business entity like onshore?

The words "sole proprietorship" are far more often used in American English than in British English. It is likely that the OP is in fact American, so this question has no relevance in the UK.

Under long established UK case law a UK resident is almost certainly taxable on non-UK self-employment income.

DCART

Thank you for the replies.

I may not have got the description right but the context I meant was a business owned by one person who trades under his/her own name and who has no limit to their liability through their business?

CTA_2

DCART wrote: »

Thank you for the replies.

I may not have got the description right but the context I meant was a business owned by one person who trades under his/her own name and who has no limit to their liability through their business?

Then my response stands.

DCART

What about forming an offshore sole trader as a business entity, so it is formed offshore and not onshore, or is it only possible to form offshore companies?