Cook Islands vs Marshall Islands vs St Vincent

[Dave]

Hello!
Do you think you can comment which of these jurisdictions is the best:

1. Cook Islands
2. Marshall Islands
3. St Vincent and Grenadines

We are considering these factors:

• Privacy (closed public registrars, expected continuation of the privacy laws)
• Ease of doing business (no need to keep/submit accounting records, no need for audit)
• Ability of open bank accounts/ EMI accounts (Leupay, Paysera, Worldcore etc).

Dave

 

[suzy]

Cook Islands seems to be the right choice here for maximum privacy. Since you are going for EMI account it's possible to use a CI Company.

 

[Dave]

Thank you Suzy - I have just been told by a Cook Island agent that I need to submit annual return/appoint auditor after 90 days of incorporation - do you think other places might have the same requirements?

 

[suzy]

I don't know, but what's the problem with that, also try to find some other agent to help you that is more willing to do short cuts. I had an agent for some years ago, he is not around any longer but at this time there was nothing like that.

 

[Dave]

you had a Cook Islands company right? was it OK to open bank accounts?

 

[negon]

It's a nightmare to open bank accounts for a Cook Islands company because of some strange policy by the banks as far as I have been told.

 

[Dave]

thank you Auric -- what about Marshall Islands?

 

[Internationaloff]

Hello!
Do you think you can comment which of these jurisdictions is the best:

1. Cook Islands
2. Marshall Islands
3. St Vincent and Grenadines

We are considering these factors:

• Privacy (closed public registrars, expected continuation of the privacy laws)
• Ease of doing business (no need to keep/submit accounting records, no need for audit)
• Ability of open bank accounts/ EMI accounts (Leupay, Paysera, Worldcore etc).

Dave

In first position Marshall Islands.
In second position Saint Vincent and the Grenadines.
In third position Cook Islands.

PS: This is my ranking.

 

[Dave]

Thank you = I wonder why you chose Marshall Islands for the 1st place?)

 

[Internationaloff]

Thank you = I wonder why you chose Marshall Islands for the 1st place?)

As a result of your 3 factors and not because it is the best of all jurisdictions.

There is no perfect jurisdiction, but the best for your own needs.
This is my thought after 15 years of experience.

 

[Dave]

Thank you - just to confirm - Marshall Islands companies are more easily accepted by the banks from your experience?

 

[suzy]

compared to what? it is so much bulls**t when people say this is more accepted than that, it is the nature of the business the banks either like or not like including the people behind the offshore corp.

do you think other places might have the same requirements?

There are Places where this isn't required. Anyway as some mentioned.. one thing are the outlined rules and country laws another thing is if anyone is following up on them!

 

[Dave]

so the starting point is type of activity? lets say our activity needs licensing in eu but not in Marshall - will the banks still treat it as high risk?

 

[Dave]

I wonder which of these 3 jurisdictions is more reputable? Marshall Islands?

 

[Dave]

Which banks are more happy about Marshall Islands companies?