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Choosing agency to open offshore company

S

smbdoff

Offshore Agent
May 19, 2016
25
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#1
Assuming everything goes well and I get my company setup and the documents mailed to me, what are the risks of dealing with a no-name agency? For instance, if they start demanding high fees to renew or some other nonsense, can I easily transfer the company to another agency for renewal?

I will be opening an IBC in Belize without nominee and I will deal with banks accounts myself. It looks like in this specific setup a larger agency is of no benefit because there is virtually no risk.

I'm asking because I see $800-$900 for basic IBC setup+apostilled docs with agencies that accept credit card payments (I can do a chargeback if they don't send the documents). And there are agencies that also accept PayPal (supposedly more legit), but they charge about $1,200 for the same set of documents. Of course, there are even more expensive agencies...

Anyway, I would like to hear real life experiences with bad agencies and what to look out for.
 
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#2
Assuming everything goes well and I get my company setup and the documents mailed to me, what are the risks of dealing with a no-name agency? For instance, if they start demanding high fees to renew or some other nonsense, can I easily transfer the company to another agency for renewal?
Click to expand...

Yes sure you can do that, you don't even need to inform them about it, just ask the new agent to request the transfer of your company.
I'm asking because I see $800-$900 for basic IBC setup+apostilled docs with agencies that accept credit card payments (I can do a chargeback if they don't send the documents). And there are agencies that also accept PayPal (supposedly more legit), but they charge about $1,200 for the same set of documents. Of course, there are even more expensive agencies...
Click to expand...
You really need to check what it is you actually get for your money when you compare the fees. I have seen something that you wonøt believe. If you ask them if everything is there so you can apply for a bank account they say yes, if the bank comes back to you and tell you the documents need (just an example) to be apostilled they say OH REALLY, you will have to pay for this.. and so starts the party.

You can end up to pay much more with the cheap agent compared to the more expensive just because they have "hidden fees" and you can't blaim them for it, because they don't lie if they say everything is there.
 
#3
Yeah, I noticed apostiled documents are generally not a part of the package along with FedEx and sometimes a seal. And I know for a fact that most banks require it. So I'm checking for that. But I can see how some agencies ignore certain aspects on purpose.

To be honest, though, the first really cheap agency that I contacted were the ones who told me about apostile and that I don't need their services to open a bank account. They actually told me I could do it myself because we have representative offices here :)
 
#4
Most don't have a representative office near by so I assume it's better to pay the money to let the agent do the work right away rather then spending time find some firm to apostil and notarize the docs. Most often it's not something costly to get this last part done.
 
#6
smbdoff said:
Assuming everything goes well and I get my company setup and the documents mailed to me, what are the risks of dealing with a no-name agency? For instance, if they start demanding high fees to renew or some other nonsense, can I easily transfer the company to another agency for renewal?

I will be opening an IBC in Belize without nominee and I will deal with banks accounts myself. It looks like in this specific setup a larger agency is of no benefit because there is virtually no risk.

I'm asking because I see $800-$900 for basic IBC setup+apostilled docs with agencies that accept credit card payments (I can do a chargeback if they don't send the documents). And there are agencies that also accept PayPal (supposedly more legit), but they charge about $1,200 for the same set of documents. Of course, there are even more expensive agencies...

Anyway, I would like to hear real life experiences with bad agencies and what to look out for.
Click to expand...
There is not much you can look for other than Google them for reviews and check what you find there. It seems this industry is sooo full of bull s**t from all parties and the competition is so hard that everyone is using every method to get their competition Down regardless how they are doing it.

I have been around for many years after all and seens this and that... so I'm sitting just back behind my screen and laugh about what's going on but for the people involved I think it's an nightmare.
 
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#8
Don't you think it depends much on what you expect your agent to do for you and what he is capable to do actually when it comes to final result making? I believe that if you have clear visions about what it is you need and wish to archive you can streamline this with the agents you approach to setup your offshore company and banking.
 
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#10
You always get what you pay for. The problem is that most of these so called professional offshore company formation specialists are faking their fees on the website to look stronger towards their competition. Once you are an client of theirs the fees go up the roof and you will see that what you thought was the cheapest may very well be the most expensive agent around.

Make sure you get all details, what is included in your offshore company formation package, are there incorporation documents with apostille and notarized or without, is courier costs included, virtual office service included or not.. will they send the original documents or only scans.

There are lot's of questions you need to ask when you place your order.
 
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#11
@internationalman I agree with you, this has been seen so many times already. You need to be aware of what you are actually order and what you get for your money!
 
#15
Knowledge and ongoing information from the agent is important to me. First agent I used was fine for a basic setup. But whenever I asked questions beyond the initial incorporation, they didn't know. They were simply incorporating, opening bank accounts etc without any real knowledge or interest in my needs.
 
#16
I've found that with the agents I used (recommended on here). Answers were very basic and typically only one question answered if you ask two or three in the email. Same day answers sometimes and others took a week with reminders sent in between. Altogether process took a month longer due to inefficient process / lack of interest. It was a pain and unnecessary.
 
#17
I wasn't really checking the forum. So I successfully opened the company in 2016 with literally the cheapest offer I could get and I still use the same agency. No issues with renewals, the price remained the same. So I guess it depends. Expensive doesn't equal better in this case, or maybe it does if you need more sophisticated services.
 
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