Does it matter where agents are based?

[spacenomad]

When managing an offshore entity, i.e. Seychelles or Belize, does the location of the agent matter? What's the difference in terms of how your confidential data (UBO) is handled between the following:

• only offshore based agent
• eu based agent
• uk based agent

Case in hand, uniwide biz is an offshore mangement firm that has offices in Latvia, EU. What does this mean, can they give out your company details to EU officials? Similarly, CFSFormations is based in UK, so does that mean that HMRC or other UK authorities have unrestricted access to all your files, should they wish so? Whereas for a pure offshore agent, would authorities need to go through inter-governmental legal process?

When asked, these agents claim that they work directly with offshore agent, so they're just assisting in management, but they are not clear on what compliance or regulation they have to abide by by having offices in eu/uk that may decrease the strength of privacy for the client.

 

[Martin Everson]

All your data will be available whether agents are in EU or non-EU. If data can't be gained officially by IGA's to combat tax evasion it will be leaked by agent or bought like what Germany did in Dubai.

Remember agents are not willing to go to prison to save your a*s so its irrelevant where agent is based. The days of non-cooperative jurisdictions and agents is nearly over.

P.S If agent is based in EU then they will have to comply with DAC6 disclosure or face heavy fine.

https://www.offshorecorptalk.com/th...eporting-comes-into-effect-1-july-2020.29711/