Jurisdictions for overseas business/bank (and a few questions)

[Iem]

Hi guys,

I've been reading and learning a lot here recently (thanks) and felt that it's time to pose a question regarding some situational specifics. I'm looking at setting up a new (and more efficient) business registration with bank account.

I'm trying to identify the best jurisdiction(s) to open a business and associated bank account which meet the following criteria:

- No business tax
- No requirement for recurring filing of accounts (i.e. minimal remote maintenance effort)
- Privacy, as much as is possible while not using illegitimate documents (enough cash will be flowing through the account that I don't want to lose the ability to access it if the bank suspects ID fraud or requests checks down-the-line).
- Ideal (but not essential) is access to a business banking card with high withdrawal limits
- Ideal (but not essential) is minimal CRS reporting to France or UK. Understood if this simply can't be avoided.

Do you have any recommendations on the best country (or countries) for such a business and bank account? Reasoning would also be interesting.

Also, are nominee directors worthwhile (or a waste of time given the bank's beneficiary owner requirement)? And is it advantageous to have a virtual office address within the bank's country, as the primary correspondance address, thereby reducing the chances of them treating the account holder as overseas (for CRS)?

I hope you don't mind the questions.

Many thanks!

 

[diablo]

You may setup a Company in the Seychelles, St.Kitts or Belize with banking in Cyprus or use an EMI provided banking Facility!

 

[Iem]

Thanks, those territories seem popular on the forum, any particular reasoning?

Any thoughts on the value of nominee directors and/or office within the bank's territory would also be interesting.

 

[Dubsize]

Thanks, those territories seem popular on the forum, any particular reasoning?

Any thoughts on the value of nominee directors and/or office within the bank's territory would also be interesting.

Regarding nominee, it’s a waste of money as those countries do not provide a public registry. No one can know the UBO of the company, therefore, no need for nominee’s.

 

[Iem]

Interesting, that makes sense. I'd appreciate a PM if anybody has a recommended agent for company formation in the above (leaning toward Seychelles) with a Cyprus account.

 

[Dubsize]

Interesting, that makes sense. I'd appreciate a PM if anybody has a recommended agent for company formation in the above (leaning toward Seychelles) with a Cyprus account.

what's your company activity?

 

[Iem]

Work-for-hire software development

 

[Okanda Fernando]

when you consider about the tax rates, Belize seychelle is the better option for you

 

[Iem]

when you consider about the tax rates, Belize seychelle is the better option for you

I couldn't see a benefit of Belize co and Seychelles bank over Seychelles co and Cyprus bank (Cyprus bank also seems it may have the benefit of some remnants of privacy, judging by the Cyprus banking forum), any further info?

Cyprus Bank Account - Read to learn how they can protect your privacy!

 

[Iem]

Interesting, that makes sense. I'd appreciate a PM if anybody has a recommended agent for company formation in the above (leaning toward Seychelles) with a Cyprus account.

Actually, given that Seychelles' registry is going public in December 2018 (link below), St Kitts w/ Cyprus bank may be taking the lead:

What offshore jurisdiction has no public register to lookup my name?

Sharing the above for future reference of anybody following the thread. Would still appreciate a PM if anybody knows of a reliable and cost-effective agent for St Kitts co w/ Cyprus bank?