Hi,
Several times i was asked by registered agents to provide very precise information about my business & myself. Each time, they say it is "due diligence" and it is known as
your customer KYC rules. I was asked to provide a CV, organization chart, business plan & a website url.
At the beginning, i thought "ok it is legitimate" but after thinking about it, i think that out of Utility bill and passport it is not legit.
I have sent an email to the Seychelles Government which replied that every registered agent could have a different Due diligence. They explained to me that Due diligence didn't come from the Seychelles gov.
After that i looked into the Seychelles & also Belize law and i have found nothing about due diligence.
i asked registered agents why they asked for so many due diligence papers and they told me it was for their reputation. I thought this answer was borderline.
So, coming back to the registered agent, when there is no shareholder/directory nominee, no holding, no special agreement between companies, i don't see where the danger is.
A registered agent is not a representative of the company. It is just a secretary with a license provided by the local government. The registered agent is not responsible for anything.
If something goes wrong with a company, the director of the company is solely responsible for it.
Business secrets:
I think that we should not share our business secrets to a registered agent. The agent is not from the government. This person will not be involved in the daily life of the company. It is just an interface with the local government. It is even not a real secretary. I say it so, because some business setups explains why a business can be successful on a special market. Then, a registered agent can steal the business secrets and replicate it locally if you provide him the business plan, organization chart, website...
What if we don't do what we have said?
In this context, what if i want to change my mind just after providing business plan and sell other services that have nothing to do with the first services? Can a registered agent do something harmful against my company?
The idea is the following, when you have a start-up, you want to test several things and drop what is not profitable. In the matter of one year everything will change several times.
Do you think that registered agents can harm the offshore company after it was created?
Several times i was asked by registered agents to provide very precise information about my business & myself. Each time, they say it is "due diligence" and it is known as
your customer KYC rules. I was asked to provide a CV, organization chart, business plan & a website url.
At the beginning, i thought "ok it is legitimate" but after thinking about it, i think that out of Utility bill and passport it is not legit.
I have sent an email to the Seychelles Government which replied that every registered agent could have a different Due diligence. They explained to me that Due diligence didn't come from the Seychelles gov.
After that i looked into the Seychelles & also Belize law and i have found nothing about due diligence.
i asked registered agents why they asked for so many due diligence papers and they told me it was for their reputation. I thought this answer was borderline.
So, coming back to the registered agent, when there is no shareholder/directory nominee, no holding, no special agreement between companies, i don't see where the danger is.
A registered agent is not a representative of the company. It is just a secretary with a license provided by the local government. The registered agent is not responsible for anything.
If something goes wrong with a company, the director of the company is solely responsible for it.
Business secrets:
I think that we should not share our business secrets to a registered agent. The agent is not from the government. This person will not be involved in the daily life of the company. It is just an interface with the local government. It is even not a real secretary. I say it so, because some business setups explains why a business can be successful on a special market. Then, a registered agent can steal the business secrets and replicate it locally if you provide him the business plan, organization chart, website...
What if we don't do what we have said?
In this context, what if i want to change my mind just after providing business plan and sell other services that have nothing to do with the first services? Can a registered agent do something harmful against my company?
The idea is the following, when you have a start-up, you want to test several things and drop what is not profitable. In the matter of one year everything will change several times.
Do you think that registered agents can harm the offshore company after it was created?
