How to take out all the money?

[Yaneek]

Hey,

I want to close my offshore company as soon as possible. I want to take out the money legally and i dont care if i have to pay taxes at home (because taxes are low now).

I realized that opening the offshore company was a huge mistake.

1) I am wondering if its legal to make several consultation invoices between my onshore company and the offshore company? This way i can take out all the money and pay taxes with my onshore company?

There are many reason why i dont want to take out dividends instead.

Or is there a better way to do this?

2) is there any re-invoicing company i could use. This way i dont make a direct link between the two companies.

3) is it better to use some payment processor instead of direct bank wire? If yes, recommend me one.

All kinds of recommendations are welcome.

 

[JohnLocke]

Where is your offshore company registered? Where is the bank account opened, banks and country?

You can invoice the company as you like, but depending on which jurisdiction this company is registered, it may not be necessary to do, just take out the money and don't pay for the renewal, so you may be fine.

 

[clemens]

Take out the money and be happy Why would you want to generate invoices and all this?

 

[Yaneek]

Wow I didn't expect replies so fast (im new to this forum)

Where is your offshore company registered? Where is the bank account opened, banks and country?

You can invoice the company as you like, but depending on which jurisdiction this company is registered, it may not be necessary to do, just take out the money and don't pay for the renewal, so you may be fine.

My company is in Seychelles.
Well if I do it through my onshore company, I will have to create invoices to justify the money I get from the offshore.

So you say that invoicing between the two companies is completely fine? Even if they find out that the offshore company is also mine?
What service would look the most legit on the invoice? "Consultation services"?

Take out the money and be happy Why would you want to generate invoices and all this?

How? I have a debit card that is limited. Also I don't travel a lot to really use it. What other ways are there to take out a larger amount without trouble?

 

[JohnLocke]

My company is in Seychelles.
Well if I do it through my onshore company, I will have to create invoices to justify the money I get from the offshore.

So you say that invoicing between the two companies is completely fine? Even if they find out that the offshore company is also mine?
What service would look the most legit on the invoice? "Consultation services"?

Well, if they find out that the company is yours it change nothing because you invoice this company to take the money home and tax it! So unless we speak millions I don't think they make a big deal of it.

How old is this Seychelles company?

 

[crownblown]

How? I have a debit card that is limited. Also I don't travel a lot to really use it. What other ways are there to take out a larger amount without trouble?

transfer all money to LeuPay or AdvCash account withdraw it in your neighbor country and spend it on some nice stuff kill the Seychelles company or just forget about renewing it.

 

[clemens]

How? I have a debit card that is limited. Also I don't travel a lot to really use it. What other ways are there to take out a larger amount without trouble?

as @crownblown already said transfer the money to an EMI account and spend them in silency.

 

[Yaneek]

Well, if they find out that the company is yours it change nothing because you invoice this company to take the money home and tax it! So unless we speak millions I don't think they make a big deal of it.

How old is this Seychelles company?

The company is around 5 years old. I have a lot less than a million.

transfer all money to LeuPay or AdvCash account withdraw it in your neighbor country and spend it on some nice stuff kill the Seychelles company or just forget about renewing it.

Never heard about these before but I will definitely look into them. How do they compare to paypal and skrill?
Isn't it dangerous? I'm sure they will ask me for documents, and what do I do if they report me?

as @crownblown already said transfer the money to an EMI account and spend them in silency.

Can you tell me what EMI stands for? I will have to look into this.

BTW I found a legal way to pay around 1% tax in my home country. I have absolutely no problem paying the tax. I am just afraid that not to get into trouble for any of these offshore company related things. I am still not sure which route I should go.

Would you guys still choose an EMO account over a 1% tax at home?

 

[footlocker]

Never heard about these before but I will definitely look into them. How do they compare to paypal and skrill?
Isn't it dangerous? I'm sure they will ask me for documents, and what do I do if they report me?

You can open any EMI account for this purpose List of EMI and Digital Banks very easy to do also you can use fake docs but it is more complicated.

 

[Yaneek]

You can open any EMI account for this purpose List of EMI and Digital Banks very easy to do also you can use fake docs but it is more complicated.

How do they compare to banks and ewallets like paypal? Why are EMIs better than those?

 

[negon]

They are better because they provide you with their own IBAN account number, so basically it is like to have a real bank account! PayPal is a payment service provider.

 

[mnschwarz]

Why are you worried about getting in trouble for your offshore company? There's nothing illegal about owning or operating a company in Seychelles unless you've been hiding it, not paying tax, illegal operations etc over those past 5 years. Getting the money out legally, or quietly, will depend on a lot of factors. Where are you a resident and what is the jurisdiction of this other onshore company?

 

[Yaneek]

I am resident and onshore company is in Romania. I don't know if its important but we dont have CFC rules here. So what would be the best option for me?

 

[Yaneek]

I am also interested in the following. You guys recommended I take out the money or send it to an EMI.

1) Which EMI do you recommend most?
2) The EMI should be opened with business name or personal name? If it's personal name, then won't it be reported to my country like bank do?
3) Is it safer to send all money to an EMI than Paypal?
4) Is it safe to keep a 5 digit amount on an EMI?

 

[negon]

use AdvCash if possible and setup the account with fake docs.. more infor upgrade to Mentor Group, it's easy to get done.

 

[mnschwarz]

I am resident and onshore company is in Romania. I don't know if its important but we dont have CFC rules here. So what would be the best option for me?

Your best option is going to be to speak to a Romanian professional (accountant or tax lawyer). If Romania doesn't have CFC laws there may be absolutely no problem taking the money out directly. Don't overcomplicate things if you don't have to. If that professional indicates you may have problems, then you can look at the anonymous routes suggested above. No idea if its the same in Romania but often you can get a free consultation with one or several professionals to gather information and go from there.

 

[Rabbit0]

Yaneek if your offshore company has virtual terminal for processing banking cards then could I either get or buy (if ok price) your offshore company? Either before or after you take funds out as you said on your own? I wanted to message you but this forum has some problems with private messaging and also you forgot to add your contact detail (e.g. email address) on your user profile.

 

[belarus]

I am also interested in the following. You guys recommended I take out the money or send it to an EMI.

1) Which EMI do you recommend most?
2) The EMI should be opened with business name or personal name? If it's personal name, then won't it be reported to my country like bank do?
3) Is it safer to send all money to an EMI than Paypal?
4) Is it safe to keep a 5 digit amount on an EMI?

Well nothing is 100% safe in this world. But in your position I would have no doubts to take my money to some of the major EMI providers that has been in business for the longest! Get it done anonymous and no one will ever figure out what happen to this money!

 

[DeMajor]

Well nothing is 100% safe in this world. But in your position I would have no doubts to take my money to some of the major EMI providers that has been in business for the longest! Get it done anonymous and no one will ever figure out what happen to this money!

second that! get setup with anonymous EMI and forget about the rest!

 

[Yaneek]

Well nothing is 100% safe in this world. But in your position I would have no doubts to take my money to some of the major EMI providers that has been in business for the longest! Get it done anonymous and no one will ever figure out what happen to this money!

If I open an EMI with fake docs, would that cause even more trouble if somebody finds out?
Or maybe they will ask me for more docs in the future that I can't provide.

Also if I manage to get an EMI opened with fake details, will it be safe to use that card to withdraw money in my home country? Or how do I get to my money?

BTW I tried to talk to tax advisors, but there are either no professionals who know about offshore stuff or they are stupidly overpriced (like 1000 eur/opinion lol).

sorry for all the beginner questions.