I make things happen
I'm interested on creating a crypto company with not need of bank accounts, no annual report filling or sharing any directors information. Samoa looks interesting, any experience here ?
There are creative ways to use this to protect the company's assets from seizure, creditors, and other undesired scenarios.228B.Asset protection –
(1) This sectionapplies to an international company where the articles of that international company state that the section shall so apply.
(2) In this section:
"expropriation" means any act of confiscation, compulsory acquisition, nationalisation or any similar act;
"membership interes" means:
(a) any interest in a share of an international company; or
(b) any other interest of a person where that interest arises from or in connection with the fact that the person is a member of an international company;
"specified person" means the person or persons nominated in the articles of an international company for the purposes of this section;
"specified event" means any event stated in the articles of an international company to be a specified event in respect of one or more of the members of that international company.
(3) The articles of an international company may provide that on the happening of any specified event (including without limitation where any foreign government expropriates any membership interest of a member of an international company) then the provisions of this section apply.
(4) Upon the occurrence of any specified event:
(a) the membership interest of any member of an international company affected by that event shall automatically vest in the specified person and if more than one specified persons, to those specified persons in the proportions and in the manner stated in the articles of the international company; and
(b) no other person (including the original owner) shall have any rights in or to the membership interest.
(5) The holder of a membership interest in an international company is entitled to nominate one or more specified persons and if more than one specified person is nominated by a holder of a membership interest, the proportions and manner in which the membership interest shall vest, in each of those specified persons, shall be stated.
(6) A holder of a membership interest in an international company shall be entitled at any time, and from time to time, to nominate or remove a specified person by notice in writing to the international company.
Million dollar question is where would you get a reputable bank account with offshore companies like Samoa, Nevis, Belize, Seychelles etc ? As far as I know reputable banks started having problems with these jurisdictions from 2014 onwards. It's even difficult to open up accounts with reputable offshore jurisdictions these days.On a high level, Samoa is the same as any other IBC jurisdiction. What sets it apart is the laws around "specified event", which supposedly is a fairly unique piece of asset protection legislation.
There are creative ways to use this to protect the company's assets from seizure, creditors, and other undesired scenarios.
IIRC, some basic accounting is expected, much like in other IBC jurisdictions. Enforcement is lax.
Looks like the OP isnt concerned about having access to a bank account though. Assuming he will deal entirely in crypto since its a crypto related business.Million dollar question is where would you get a reputable bank account with offshore companies like Samoa, Nevis, Belize, Seychelles etc ? As far as I know reputable banks started having problems with these jurisdictions from 2014 onwards. It's even difficult to open up accounts with reputable offshore jurisdictions these days.