Offshore Incorporation Service Providers

[soma]

Hi, i came across this thread while trying to do due diligence on a service provider and am in awe that theres a forum for this...

I am looking to create a fund (non crypto, no cash, legit) for the purposes of capital market investment.
I was looking at tax free jurisdictions and so far the candidates are mauritius or DIFC.
I am sourcing for trustworthy service providers who can deliver results.

As for the privacy aspect, as long as the public cant access this information it is fine with me, i do not need dummy directors or to hide from the governments.
Would anyone be able to provide any reccomendations on such service providers?
I am open to other jurisdictions as well as long as bank accounts are not a problem and the country is not grey listed or black listed or dodgy
(it seems cayman is grey listed in EU's list)

 

[daniels27]

Which markets are you investing in? Many funds are in Ireland, Luxemburg and Singapore as there are able to benefit from lower withholding taxes on distributed dividends. Likewise, if you invest in Montenegro, you may want to have the fund in Montenegro too.

Apart from that Caymans are the most common choice.

 

[soma]

mainly asia markets. Funds in singapore are almost 1 year of waiting time to get approvals to operate so thats difficult.. it was my first choice initially... Ireland has capital gains tax and corporate tax which i am not too keen on.
Luxumberg could be interesting i will look into that jurisdiction, any service provider you could reccomend there?
Cayman is in the EU FATF grey list whilst the fund is not going into EU markets yet so thats a warning flag there for situation to spread further or face possible issues in bank account

 

[EliasIT]

It would be a good idea to search the forum, as there are already many threads that include service providers who can help you establish your fund. If you can't find anything using the search function, try the following:

Enter in Google
site:offshorecorptalk.com fund
site:offshorecorptalk.com establish fund

In addition to the ones mentioned, Liechtenstein is also very popular, and I know that Norway (at least up until two years ago) had some good options for setting up a fund.

And finally you have the resource database inside mentor group gold if you do an account upgrade.
https://www.offshorecorptalk.com/resources/categories/trust-wealth-management.17/

 

[SCHLOSSFINANZ]

try to have a look at Liechtenstein

https://www.bendurafunds.li/en/

 

[soma]

thanks ill look into Liechtenstein as welll.... Question, would you pay these vendors before they even confirm what is the exact structure desired? What kind of payment schedule should be followed to ensure they dont just take the money then not deliver on some excuses or worse end up creating something which was not even wanted in the first place

 

[daniels27]

thanks ill look into Liechtenstein as welll.... Question, would you pay these vendors before they even confirm what is the exact structure desired? What kind of payment schedule should be followed to ensure they dont just take the money then not deliver on some excuses or worse end up creating something which was not even wanted in the first place

You pay the government fees directly and you pay them once, they have their job done.

 

[SCHLOSSFINANZ]

Bendura is reliable from my own experience, normally you pay a down payment and the rest once the structure is set up and
approved

 

[dirtyharry]

thanks ill look into Liechtenstein as welll.... Question, would you pay these vendors before they even confirm what is the exact structure desired?

I would ask them to draft some sort of plan for you so you can have a guarantee that they are able to help you like you expect it. If they refuse, go to the next or find a reputable one from the very beginning which you trust and know and do what you want, him you pay from the first minute. It is worth it.

 

[drphantom]

I would ask them to draft some sort of plan for you so you can have a guarantee that they are able to help you like you expect it. If they refuse, go to the next or find a reputable one from the very beginning which you trust and know and do what you want, him you pay from the first minute. It is worth it.

Ver good suggestion. Use OCT for research but pay for pro consultancy.

 

[soma]

Bendura is reliable from my own experience, normally you pay a down payment and the rest once the structure is set up and
approved

is this the right bendura? BENDURA BANK AG - Persönliche Beratung in Ihrer Sprache Die BENDURA BANK AG bietet vermögenden Privatkunden und mittelständischen Unternehmen massgeschneiderte Finanzdienstleistungen.

You pay the government fees directly and you pay them once, they have their job done.

Can you suggest any such providers? I do not have a problem paying this way.
The current providers are asking for full payment without even a proper proposal or even asking questions about what i want and amazing delivery timeline of mere days (which i do not think are truly possible as the product that i want will be a regulated fund). Obviously I will not be engaging them, one even checked all the boxes to look legit, old website, overall decent reviews, but their pushyness on payment and high promises casts doubt on their delivery... the few negative reviews i found showed they would respond with personal details of their customers which makes it more uncomfortable as it seems the response was to attack the client rather then resolve the matter.

 

[SCHLOSSFINANZ]

yes thats the right Bendura

 

[EliasIT]

try to have a look at Liechtenstein

https://www.bendurafunds.li/en/

This looks quite interesting. Do you have any personal experience with them, or is this something you found through a Google search? Either way, it’s still good information!

 

[SCHLOSSFINANZ]

personal, good people but fee wise on the upper end

 

[soma]

personal, good people but fee wise on the upper end

I have reached out to them, thank you for that!

 

[jkl197]

if budget is not a problem and you want an elegant solution then you could consider Luxembourg, where you will wait more than 1 year to get the license, but while waiting you can start with an SCSP, a sort of LLP that can operate like a fund without a license, legally, as long as the AUM is less than 100m (google search will give you a lot of information).

Another option is to buy a sub-fund or Sicav either in Luxembourg or Malta or Bahamas, to go to market relatively quickly

 

[SCHLOSSFINANZ]

From my own experience turnaround time for approval in Liechtenstein was 3 months, excellent compared to Luxembourg

 

[dirtyharry]

From my own experience turnaround time for approval in Liechtenstein was 3 months, excellent compared to Luxembourg

That's a very long time, you need to be in good time if you plan going that route.

 

[soma]

hi just to update everyone, for me speed is important
After talking to quite afew consultants and the absurdly slow speed of responses I am now narrowing down on mauritius...

I tried exploring BVI funds but could not get a proposal so far, Luxumberg consultants & Bendura no response so far.
Mauritus managed to get 2 proposals.
DIFC got 1 proposal.

Apparently though mauritius has approx 3% taxes, since i will be paying far more taxes in the country of investment before the income goes back to the mauritius fund its zero taxes somehow... all along i was focusing on 0 taxes and had written mauritius off soon after posting my first post here...

The timelines seem to be faster, approx 1.5-2 months for a regulated fund structure and about a month for the bank account opening.
i will be interviewing afew more service providers soon for this to see if they have better proposals.

oh and a word of warning to others... if anyone tells you they can form a fund in 2 weeks or less dont fall for it!

 

[jkl197]

mauritius regulator is rather slow, if they told you only 2 months i guess it is a sub-fund of an existing structure?