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cyyber

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Nov 6, 2017
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#1
Hello,
I am looking to start an offshore company in Belize or Seychelles. I am preferring to have an offshore bank account in Cyprus. My company work is basically to provide IT services or software development services. But my clients pay me in terms of cryptocurrency. So I will be selling them in localbitcoins.com to get it into my offshorebank account.

I would like to know should I go for Belize or Seychelles. I see Belize is not blacklisted. I am not aware of Seychelles. Let me know the pros and cons of having an offshore in these two. Moreover I would like to know, how easy or difficult it is to get an offshore banking account in Bank of Cyprus.

Thanks
 
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#2
If privacy matters you want to go for a Belize company, if you don't care Seychelles is perfectly fine. Regardsless how you are doing it and where you are going to incorporate your business you will have no problems to get a bank account in Cyprus and with BoC! However, it depends on the business activity of course as well as your entire business model.

Belize and Seychelles are both easy to incorporate.
 
#3
How do I find good agencies for it? I mean, the one who are experienced and also cost effective. I see some agencies are charging much higher. How much does it cost, for the formation of offshore company in Belize with nominee director and share holder, power of attorney and offshore bank account in Cyprus.
 
#4
cyyber said:
How do I find good agencies for it? I mean, the one who are experienced and also cost effective. I see some agencies are charging much higher. How much does it cost, for the formation of offshore company in Belize with nominee director and share holder, power of attorney and offshore bank account in Cyprus.
Click to expand...

there are a lot of good providers for such services
you may find somebody on the forum

you may use Belize without nominees to reduce costs
register is completely closed in Belize, so your name would not be available on public records anyway
 
#5
The reason I needed nominee is the POEM ( Place of effective management). If the place of effective management is outside India, then that company is not liable to pay taxes in India. So having a nominee director + share holder, will give my company legally not bounded with Indian Income Tax .
 
#6
That's true. The issue can be that they claim you are behind the entire setup and refuse to recognize the nominees to control and manage the company. in 80% of all cases it works well with nominees alone, but in the rest of cases much more is required i.e. real office and some office supply bills.
 
#8
Admin said:
If privacy matters you want to go for a Belize company, if you don't care Seychelles is perfectly fine. Regardsless how you are doing it and where you are going to incorporate your business you will have no problems to get a bank account in Cyprus and with BoC! However, it depends on the business activity of course as well as your entire business model.

Belize and Seychelles are both easy to incorporate.
Click to expand...

Ok just so I understand the principles here, although their is no issue in setting up a bank account in Cyprus am i right in believing that with the new CRS legislation the UBO details will be past on to the relevant tax authorities ? ...and dark docs wont get through bank screening ?
 
#10
Buccaneer said:
Ok just so I understand the principles here, although their is no issue in setting up a bank account in Cyprus am i right in believing that with the new CRS legislation the UBO details will be past on to the relevant tax authorities ? ...and dark docs wont get through bank screening ?
Click to expand...
That's correct.
 
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