Question Offshore Corporation + Wise corporate account?

[facelessvoid]

I am looking to register an offshore business account either most likely in BVI, after reading the forums, it looks like it involves jumping through a lot of hoops. I have used wise business account before. and it does seem that they offer business accounts for corporations in BVI. Has anyone tried this setup?

Get incorporation papers from BVI
Setup Wise business account with papers

manage money remotely

seems like its almost too easy..?

 

[FinTech Avenger]

I am looking to register an offshore business account either most likely in BVI, after reading the forums, it looks like it involves jumping through a lot of hoops. I have used wise business account before. and it does seem that they offer business accounts for corporations in BVI. Has anyone tried this setup?

Get incorporation papers from BVI
Setup Wise business account with papers

manage money remotely

seems like its almost too easy..?

What is your motivation behind setting up offshore company in BVI?
What's your business? Where to do you sell your products or services?

 

[facelessvoid]

My business are strictly online subscription membership + Saas products, no physical goods.
Some part of my business involves adult entertainment(nothing illegal), which part of the motivation where I would like to have a holding company in offshore location

the other motivation is to test water with offshore location to see if I can use it to deduct income from my other corporations and use it as a subcontractor, big maybe on that one

 

[Houdini]

And why do you want to setup the company in the BVI I believe you are asking for lot's of work to comply to the regulations there. Wise may be the only one to ask if they accept BVI companies, they are quick in response. By now you may already have figured it all out?

 

[CALAY]

seems like its almost too easy..?

Let’s go back to the basics:

-Banks are heavily regulated, need to "know their clients", and need to have no doubt that their clients are not doing anything illegal.
-For any bank to conduct all of the above with care and diligence, that will cost them upfront costs as well as ongoing costs for spending more time monitoring you.

So unless you’re likely to make the bank MUCH more than you’re going to cost then, you will either not have a serious offshore bank account or will not be able to keep it running if by miracle you managed to get one opened.

So does it mean you can’t do business offshore?
Off course not, otherwise this website would not exist, but you need to hire offshore practitioners who are going to build you solutions that are not publicly listed on the web.
A classic (and cheap) setup for you is to have an Agent in Europe handling your EU affairs and paying you the profit generated on an offshore prepaid card that THEY issue.
When your business starts making enough money to pay for a ‘serious’ setup, you can fund your own self-managed offshore operations…

Hope that makes sense