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Hello from USA - Sharing a fishy experience

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Pepperheadx

New member
Hi All,

have been finding this forum in the searches for a few months and finally decided to join.

I would love to understand how to find a reputable company that provides offshore company formation and other structure set-ups with nominee services, i.e. PIF, bank account, etc.

Do I need to join the Gold Group to gain access to better companies, services as I am not seeing much in the way of actionable information in the general forums?

One of the companies I had been in communication with for several months via email and video call when I called them out about an additional 0.3% annual fee they wanted to collect on assets the foundation holds in excess of USD$50K, they abruptly do not work with Americans anymore. The company is OCI, Offshore Companies International and the main point of contact is Patt Flynn.

No mention on their website or in any communication or conference call indicating this sudden change of direction, even though I made it clear that I would be moving forward in the new year after the end of this tax year. It seems that because I am pushing back on their fee, they have buried in the foundation set-up terms and conditions, they now no longer provide services to Americans. odd given many of the terms all reference USD, not other currencies. As a company, if you do not work with Americans, then I would think that prices, contract terms, and such would not be primarily referenced in USD, but rather, EUR, GBP, etc. would be more applicable.

Just thought I would let others know if they search on the name and the Admin may want to add this to a scammer list as the timing is too coincidental. Seems that if you don't want to pay their "tax" then they will suddenly discontinue working with an entire country even though they do not state this anywhere on the website, still readily allow USA IP addresses to access and inquire about their services and do not make a note in any documentation.
Coincidental or Fishy, I guess you can decide, but I wanted to share my experience.
 

Fred

Dubai Expat
Mentor Group Gold
Commercial Service
Hi All,

have been finding this forum in the searches for a few months and finally decided to join.

I would love to understand how to find a reputable company that provides offshore company formation and other structure set-ups with nominee services, i.e. PIF, bank account, etc.

Do I need to join the Gold Group to gain access to better companies, services as I am not seeing much in the way of actionable information in the general forums?

One of the companies I had been in communication with for several months via email and video call when I called them out about an additional 0.3% annual fee they wanted to collect on assets the foundation holds in excess of USD$50K, they abruptly do not work with Americans anymore. The company is OCI, Offshore Companies International and the main point of contact is Patt Flynn.

No mention on their website or in any communication or conference call indicating this sudden change of direction, even though I made it clear that I would be moving forward in the new year after the end of this tax year. It seems that because I am pushing back on their fee, they have buried in the foundation set-up terms and conditions, they now no longer provide services to Americans. odd given many of the terms all reference USD, not other currencies. As a company, if you do not work with Americans, then I would think that prices, contract terms, and such would not be primarily referenced in USD, but rather, EUR, GBP, etc. would be more applicable.

Just thought I would let others know if they search on the name and the Admin may want to add this to a scammer list as the timing is too coincidental. Seems that if you don't want to pay their "tax" then they will suddenly discontinue working with an entire country even though they do not state this anywhere on the website, still readily allow USA IP addresses to access and inquire about their services and do not make a note in any documentation.
Coincidental or Fishy, I guess you can decide, but I wanted to share my experience.
As a american resident and citizen forget about everything regarding offshore. You have only two possibilities

1. reduce your taxes within the US with some professional help from local tax advisers with maybe a rep office in famous offshore jursidiction for americans - Cayman Islands

2. renounce your Citizenship and go for a citizenship by Investment programm. After you have received a new citizenship the offshore space is available for you.
 

Pepperheadx

New member
As a american resident and citizen forget about everything regarding offshore. You have only two possibilities

1. reduce your taxes within the US with some professional help from local tax advisers with maybe a rep office in famous offshore jursidiction for americans - Cayman Islands

2. renounce your Citizenship and go for a citizenship by Investment programm. After you have received a new citizenship the offshore space is available for you.
It's less about reducing taxes, as I know the IRS has turned every banker into an IRS agent, but about being able to open a brokerage account for trading FOREX at a brokerage that has decent margin and low spreads. UBO which are seen as being US citizens have very few options of brokerage accounts and the ones we do have are very low leverage and high spreads. I also would like to have protection for assets, as you can get in a private interest foundation. It is not as simple as opening an IBC then opening an IBC corporate account, most of the brokerages I am interested in working with, i.e. Pepperstone, etc., the UBO cannot be seen as being the US citizen which is where the nominee services and PIF come into play. Looking for confirmation that the Gold member area has potentially a list of trustworthy companies that provide these types of services.
 

Fred

Dubai Expat
Mentor Group Gold
Commercial Service
It's less about reducing taxes, as I know the IRS has turned every banker into an IRS agent, but about being able to open a brokerage account for trading FOREX at a brokerage that has decent margin and low spreads. UBO which are seen as being US citizens have very few options of brokerage accounts and the ones we do have are very low leverage and high spreads. I also would like to have protection for assets, as you can get in a private interest foundation. It is not as simple as opening an IBC then opening an IBC corporate account, most of the brokerages I am interested in working with, i.e. Pepperstone, etc., the UBO cannot be seen as being the US citizen which is where the nominee services and PIF come into play. Looking for confirmation that the Gold member area has potentially a list of trustworthy companies that provide these types of services.
Have a look at the Cayman Islands or the Bahamas - both are very well known to work with Americans.

Butterfield Bank for example have a good brokerage.
 

Davis123

Entrepreneur
It's less about reducing taxes, as I know the IRS has turned every banker into an IRS agent, but about being able to open a brokerage account for trading FOREX at a brokerage that has decent margin and low spreads. UBO which are seen as being US citizens have very few options of brokerage accounts and the ones we do have are very low leverage and high spreads. I also would like to have protection for assets, as you can get in a private interest foundation. It is not as simple as opening an IBC then opening an IBC corporate account, most of the brokerages I am interested in working with, i.e. Pepperstone, etc., the UBO cannot be seen as being the US citizen which is where the nominee services and PIF come into play. Looking for confirmation that the Gold member area has potentially a list of trustworthy companies that provide these types of services.
Well your first priority should be moving out of USA as you will get brokerage accounts outside USA like in pepperstone for example easily as a non us resident. Dubai is the ultimate choice for forex traders for location as all three major markets can be traded easily. I trade forex with pepperstone and I am a US citizen ;)
 
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