I would suggest you get professional advice. You will almost certainly want an offshore account in Isle of man or Channel Islands. I have used used Lloyds, Standard Chartered and HSBC in the past, and you can download the application forms from their web sites. The advantages of an offshore account include that they do not report to ANY tax authority, and they do not deduct withholding tax. These organisations will also put you right in terms of the other regs affecting your "non-resident for tax purposes" status.
Its not difficult and its not "dodgey."