contractor to receive payments - a lot of questions on the companies and cards

[swamonovit]

Hi, I'm an external contractor that works with companies around the world, and I'm planing to open an offshore something in order to receive payments to in order to avoid taxation.


I've been browsing the forums and reading your website trying to compile the information but I'm still unclear on a lot of points. I have a lot of questions and I won't be insulted if you just decide to answer some of them or just to tell me to research more.


also, I'm not sure if I should open a sales ticket or do this on the forum, I figured this info might be helpful for others too so I went with the forum.


ideally, what I'd like is to be able to receive payments from employers, safely store my money for prolonged periods of time, have a card that I can use anywhere in the world, and check my balance/initiate switft over online banking.


general questions


1. do I even need a company? I might just receive transactions with swift directly to my bank account? (provided that my employers are ok with that scenario)


2. if I have a my bank account outside of my countries jurisdiction, I'm not sure if I need to also worry about the anonimity of the debit card I'd use in my country?


general company questions


1. cyprus vs belize vs seychelles company vs something else?


(seychelles is my first choice, it seems the cheapest without any negative sides to it, from what I require from it)


2. what are the laws on the information disclosure to third parties about seychelles companies? only if I break local laws/drug laws it seems? can you confirm?


bank account questions


I'd like to avoid massive minimum balances and initial deposits and have a few requests from my bank account.


1. cyprus vs seychelles bank account?


2. I've read that you don't have a required minimum balance for cyprus bank accounts? can you confirm?


3. I've read that switft is supported, can you confirm that I can initiate swift transactions from internet banking or do I need to make phone calls/emails?


4. are there any swift transaction limits on the amounts transfered?


5. again, what are the laws on the information disclosure on bank accounts to third parties? only if I break local laws/drug laws it seems? can you confirm?


I'd like a debit card with this account. you seem to support that, so:


debit card questions


1. what are the daily transaction/atm limits?


2. what are the transaction/atm charges?


3. if it is a corporate bank account, I find it strange that you require my personal information in order to open it. even if I have nomenee a director. I


expected the bank account to be unrelated to me in that case.


4. what kind of information does the debit card disclose on me when I use it? is this different if this is a private bank account or corporate one?


my personal info


I don't have an existing debit card or a residence to which I receive bills in my name, is there a way to get around this requirement? can I provide some other documents instead?


if this is an absolute requirement I can open a debit account and a phone account in the country I'm residing at the moment exclusively for purpose of getting those documents.


thank you for any clarification you can provide on any of those questions!

 

[JohnLocke]

general company questions
1. cyprus vs belize vs seychelles company vs something else?


(seychelles is my first choice, it seems the cheapest without any negative sides to it, from what I require from it)


2. what are the laws on the information disclosure to third parties about seychelles companies? only if I break local laws/drug laws it seems? can you confirm?

1. Well Seychelles if you have a low budget or if you simply need a good offshore company to protect your privacy and assets.


2. Only by court order can anything be released.. it is difficult to obtain such one. Pharmacy merchants are unfortunately not welcome to form a Seychelles IBC... that's the regulations there..

 

[swamonovit]

2. Only by court order can anything be released.. it is difficult to obtain such one. Pharmacy merchants are unfortunately not welcome to form a Seychelles IBC... that's the regulations there..

oh, I'm actually a software developer.

 

[JohnLocke]

If you are a software developer then there are no issues at all, I just read your post as if you are into some sort of Pharmacy business.

bank account questions
I'd like to avoid massive minimum balances and initial deposits and have a few requests from my bank account.


1. cyprus vs seychelles bank account?


2. I've read that you don't have a required minimum balance for cyprus bank accounts? can you confirm?


3. I've read that switft is supported, can you confirm that I can initiate swift transactions from internet banking or do I need to make phone calls/emails?


4. are there any swift transaction limits on the amounts transfered?


5. again, what are the laws on the information disclosure on bank accounts to third parties? only if I break local laws/drug laws it seems? can you confirm?

Well, at least for the Cyprus banks there are no minimum balance to be maintaiend nor do you need to make any huge deposit, you will need to pay in roughly EUR 100, that's it.


Answer to Q2: Yes that's correct, in the Seychelles it is US$ 50k and 100K depending on personal or business bank account.


Answer to Q3: You can initiate this directly from the Internet banking, no need to e-mail or call the bank. This is bank dependent.


Answer to Q4: Up to EUR 500.000 at once.


Answer to Q5: If you break international Money Laundering laws, or the Patriot Act in financing of Terrorism and such stuff. Tax evasion is not in all countries a criminal activity, at least not if done right. For all other it requires a local court order which is complicated and difficult to obtain.

 

[tiea-hunter]

I got my Debit card and don't have any limit on the card!

 

[JohnLocke]

debit card questions
1. what are the daily transaction/atm limits?


2. what are the transaction/atm charges?


3. if it is a corporate bank account, I find it strange that you require my personal information in order to open it. even if I have nomenee a director. I


expected the bank account to be unrelated to me in that case.


4. what kind of information does the debit card disclose on me when I use it? is this different if this is a private bank account or corporate one?

1. Typically between 400 - 1500 euro a day, this can be increased if you speak to the bank.


2. They differ, typically between 5 - 15 EUR


3. That would be against International KYC regulations and the global Patriot Act.


4. It is the company name, but again, depends on the bank.