I have done some research myself but by no means come to a conclusion.

1) What is the best offshore company/account combo for a UK citizen working abroad?

2) What is the cheapest?

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Well, with the right setup a Cyprus Company would be a perfect instrument, you will be able to open a busines bank account for the company once it is registered. You don't need to visit Cyprus or be an resident of Cyprus to do so.

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In my opinion, there is no ‘best offshore bank’ nor even ‘best offshore banking country.’ There are a lot of circumstances that may occur and investors have many different motivations when looking for a new bank. Often these days, the level of service, privacy, and asset protection are more important than the tax implications of a secret offshore bank account.

If you are a UK citizen then the European Union Savings Tax Directive comes into play, and you might prefer to hold your offshore bank account in one of the tax-haven type banking countries that is not a signatory to this treaty.

sorry double post. please delete.