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EU bank for Nevis company

#21
Hello Gediminas,


Thank you for the offer ! I would love to say yes but I am only preparing to start up (from scratch) and have no income yet, so I fear I won't be able to match the requirements at this moment (am trying to sell my house to cut tax ties and then be free to go and live where I please with enough funding to set up the structure that benefits me best) (advisor fee + I don't have a bank balance I can deposit + at this moment can not pay eg 100 USD / month bank fee - so I suppose I would not be a good client for you) ; I have to admit, sometimes it scares me to read how bank accounts of some forum members get closed in a blink and how OECD and EU pressure is so big it actually puts entire jurisdictions "out of business". I'm actually wondering if starting up businesses making little to no money yet, have to register a company if they are travelling (which is my intention) and are not a tax resident in 1 country anyway. All my ties will be cut, legally, with a deregistration document from the tax office, as soon as my house gets sold. So I wonder, why register if you don't have to pay taxes anyway and work freelance and could just use your personal bank account ? I liked the nevis LLC foundation as it is simple, no hassle, no accounting, affordable ... but this option then seems to block you operationally. what actually happens if you choose online / freelance work but you are without a tax residence ?
 
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#22
I would like to know what EU bank would open an account for a Nevis company, if this thread only is about to contact a person specific then I will close this thread or even consider to delete it.
 
#23
Admin said:
I would like to know what EU bank would open an account for a Nevis company, if this thread only is about to contact a person specific then I will close this thread or even consider to delete it.
Click to expand...

For example, Pacific Private Bank. They are in Vanuatu Islands, but offers SEPA payments too.
 
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#26
Gediminas said:
Out of curiosity, what can be fishy about the bank who operates over 20 years?
Click to expand...
SEPA + Vanuatu.

Top 50 safest bank in the world - Bank FAB from UAE doesn't have SEPA in Switzerland, despite having a presence there. Pacific Private Bank doesn't even seem to have any presence in Europe, so the way they are facilitating SEPA transfers must be fishy.
 
#27
BlueMist said:
SEPA + Vanuatu.

Top 50 safest bank in the world - Bank FAB from UAE doesn't have SEPA in Switzerland, despite having a presence there. Pacific Private Bank doesn't even seem to have any presence in Europe, so the way they are facilitating SEPA transfers must be fishy.
Click to expand...

They have correspondent accounts at European financial institutions. A lot of remittance companies these days are built on top of local payment partners in different markets, so it is exactly the same, they just have partners in SEPA region.
 
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#28
unicorn said:
Hello Gediminas,


Thank you for the offer ! I would love to say yes but I am only preparing to start up (from scratch) and have no income yet, so I fear I won't be able to match the requirements at this moment (am trying to sell my house to cut tax ties and then be free to go and live where I please with enough funding to set up the structure that benefits me best) (advisor fee + I don't have a bank balance I can deposit + at this moment can not pay eg 100 USD / month bank fee - so I suppose I would not be a good client for you) ; I have to admit, sometimes it scares me to read how bank accounts of some forum members get closed in a blink and how OECD and EU pressure is so big it actually puts entire jurisdictions "out of business". I'm actually wondering if starting up businesses making little to no money yet, have to register a company if they are travelling (which is my intention) and are not a tax resident in 1 country anyway. All my ties will be cut, legally, with a deregistration document from the tax office, as soon as my house gets sold. So I wonder, why register if you don't have to pay taxes anyway and work freelance and could just use your personal bank account ? I liked the nevis LLC foundation as it is simple, no hassle, no accounting, affordable ... but this option then seems to block you operationally. what actually happens if you choose online / freelance work but you are without a tax residence ?
Click to expand...

If none of the countries try to consider you as a tax resident (for example, you deregister your self from your home country and not register in any other, also you always traveling and do not have ties with any country) theoretically you might not pay taxes based on your freelancing business since nobody is asking to do this.

If you have some fixed place of business in one country it might force you to pay, but it depends on the lifestyle, how long you stay in one place. However, in this case, you would have an issue with the bank, which as a general rule asks for address and utility bill. So, in that case, it would be advisable to have some residence in the tax-friendly country which is not expensive to maintain. Since no country challenges this, you don’t need to spend time in that country, etc.
 
#29
Gediminas said:
If none of the countries try to consider you as a tax resident (for example, you deregister your self from your home country and not register in any other, also you always traveling and do not have ties with any country) theoretically you might not pay taxes based on your freelancing business since nobody is asking to do this.

If you have some fixed place of business in one country it might force you to pay, but it depends on the lifestyle, how long you stay in one place. However, in this case, you would have an issue with the bank, which as a general rule asks for address and utility bill. So, in that case, it would be advisable to have some residence in the tax-friendly country which is not expensive to maintain. Since no country challenges this, you don’t need to spend time in that country, etc.
Click to expand...


thank you Gediminas. There is a lot of work to be done ... it's a whole puzzle to figure out. Why can't they just leave people alone, tax only the company and be done with it. If people don't ask for "social security" (which does not exist) they should not pay for it. I prefer saving and paying out of my pocket if I need to see a doctor. After my accident, 90 % of the treatments were not reimbursed, so what good was my "social security" ? I owned 2 companies so was entitled to close to nothing, there is a different system for employees but even those are left with crumbles. Personal income tax should be abolished and then you would see the economy pick up big time ... who cares if you have to pay 20 USD to go swimming if you can keep all your income ? Who cares you have to pay 100 USD to see a doctor if you don't have to spend 50 % of your income on tax and social security ? who cares if you have to pay toll to drive on a road ? who cares if VAT is 20 % ? It would force people to take responsibility for their lives. And companies : let them pay a flat tax of 10 % on gross income all over the world and be done with it so people could actually do business where they enjoy doing business. No accountant, no bookkeeping, no audits, no .CRS, no CFC ... Why do people even accept to pay all these taxes anyway ? Especially as you see how countries are run and put in debt more and more each year by the government.
 
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#30
unicorn said:
thank you Gediminas. There is a lot of work to be done ... it's a whole puzzle to figure out. Why can't they just leave people alone, tax only the company and be done with it. If people don't ask for "social security" (which does not exist) they should not pay for it. I prefer saving and paying out of my pocket if I need to see a doctor. After my accident, 90 % of the treatments were not reimbursed, so what good was my "social security" ? I owned 2 companies so was entitled to close to nothing, there is a different system for employees but even those are left with crumbles. Personal income tax should be abolished and then you would see the economy pick up big time ... who cares if you have to pay 20 USD to go swimming if you can keep all your income ? Who cares you have to pay 100 USD to see a doctor if you don't have to spend 50 % of your income on tax and social security ? who cares if you have to pay toll to drive on a road ? who cares if VAT is 20 % ? It would force people to take responsibility for their lives. And companies : let them pay a flat tax of 10 % on gross income all over the world and be done with it so people could actually do business where they enjoy doing business. No accountant, no bookkeeping, no audits, no .CRS, no CFC ... Why do people even accept to pay all these taxes anyway ? Especially as you see how countries are run and put in debt more and more each year by the government.
Click to expand...

You mean, you don't want to pay taxes but still use the whole social infrastructure?
 
#31
Gediminas said:
You mean, you don't want to pay taxes but still use the whole social infrastructure?
Click to expand...
no, I mean the opposite. I don't mind paying some taxes and I don't want to use the "social infrastructure". This is my entire point. I had to go to private clinics and practitioners (and pay out of my pocket and had to sell one of my houses to pay for medical care and household help) and could not make any use of the "social infrastructure" although I paid about 35.000 euro per year on social security contributions alone before my accident ... social security is a ponzi scheme and you only discover it when something happens to you.

If I run a company and that company pays taxes, I don't see why I should pay taxes AGAIN on my own work as an individual.
 
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#33
mange38 said:
The fact that social security and taxes are a big f*****g scam is one of the most important lessons in life you can ever learn

Taxes should be abolished and we should let the free market do its thing
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it s a protection racket guided in a disguise of legitimacy through various "ceremonies" of the judicial and police systems, to hide the simple fact that is just brute force under threat , extracting money from the individual ...
 
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#35
Gediminas said:
If none of the countries try to consider you as a tax resident (for example, you deregister your self from your home country and not register in any other, also you always traveling and do not have ties with any country) theoretically you might not pay taxes based on your freelancing business since nobody is asking to do this.

If you have some fixed place of business in one country it might force you to pay, but it depends on the lifestyle, how long you stay in one place. However, in this case, you would have an issue with the bank, which as a general rule asks for address and utility bill. So, in that case, it would be advisable to have some residence in the tax-friendly country which is not expensive to maintain. Since no country challenges this, you don’t need to spend time in that country, etc.
Click to expand...
Maybe you should think of finding a location that you could file for residency.. so you can claim it as your tax residence.. like costa rica or panama ... even though you are a Digital nomad.
 
#36
unicorn said:
a nevis llc must pay tax now. a nevis llc multiform foundation pays 0 tax. you can transform an LLC into a multiform foundation and still operate as a company and make profit - as long as you respect the purpose of the foundation. if that foundation is for you, you make a broad purpose that encompasses all purposes related to you.

i asked info for a foundation. if they accept a foundation, they will surely accept a LLC as no one wants to accept foundations. you just can not make it a non for profit foundation, those will not get an account anywhere.
Click to expand...

Technically you pay taxes of income generated within the country. I have Company in St. Kitts and Nevis and once the revenue is generated outside of the country, i receive my funds tax free. its not something they will publicize.
 
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#38
baysurfer123456 said:
Technically it was a payment service provider not a bank, but I could send and receive SEPA payments with them.
I can pm you the name of the institution, but they are not accepting new clients...
Click to expand...
In this case, the question should not have been, "which payment service provider accepts a Nevis company?"
I think that you can find an EMI that will accept a Nevis company but then, you will get stuck because the payment service provider will ask for your corporate papers. payment service providers like Skrill does not accept nevis company I believe.
BUT if a Nevis company is accepted by a payment service provider, I would be happy to know about it :)
 
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