Questions regarding offshore company and bank account setup

[ozzke]

I’m looking for a bit of specialized feedback concerning opening an offshore company + bank account.


I’m an EU citizen and I own a business which is specialized in online/affiliate marketing. Up until a month ago I was working with companies in the same and surrounding countries.


However I’m expanding now and will start receiving payments from US affiliate companies in july/august. These companies will pay by check (or Paypal but from what I’ve heard that’s always a bad idea).


Now I was thinking of putting the earnings of the US affiliate companies under a new offshore company to limit/avoid taxes, I will of course also keep my current company.


That’s step 1 of the plan. Step 2 involves investing that money in Forex and later use it to buy property in the EU (but not my own country) with the company


Question 1: Which country would suit me best for the company and/or bank account. Cyprus is of course out because I’m an EU citizen.


Question 2: Which setup company would you suggest to use? I need some sort of banking service since the other companies will pay by check which needs to be deposited (and I can’t do that). I was thinking about SFM Offshore or Maritime International Limited.


Question 3: Can there be a problem when I use the company for different kind of investments (Forex + property)


Question 4: Can I change setup company once my company is registered (or after 1 or 2 years) or will it always be managed by the same firm?


Any feedback is very welcome!

 

[JohnLocke]

Question 1: Which country would suit me best for the company and/or bank account. Cyprus is of course out because I’m an EU citizen.

There are many, one of the is the Seychelles where you with ease can safe taxes and as well build the structure you are looking at.

Question 2: Which setup company would you suggest to use? I need some sort of banking service since the other companies will pay by check which

It's possible to open a bank account in Cyprus for the above company. You will then maintain the banking secrecy since it isn't an EU entity holding the account. There is no minimum balance to be maintained. Internet Banking in English and Debit card is standard.

Question 3: Can there be a problem when I use the company for different kind of investments (Forex + property)

No problems I see.

Question 4: Can I change setup company once my company is registered (or after 1 or 2 years) or will it always be managed by the same firm?

You can change it whenever you want. Most will simply require a Certificate of Good standing in order to move it from one CSP to another.

 

[clemens]

Please contact your affiliate programs to ask if they accept Seychelles or Offshore companies in general. Sadly I have seen an increase the affiliate / webmaster programs that don't accept offshore companies any longer! I didn't recognize any issues with my Cyprus company for the same purpose.

 

[ozzke]

admin thanks for your reply it's very useful information. I'm trying to figure out now a good price/quality for the services.


jpay: thanks a lot, I will check. Since I'm an EU citizen I guess it's not possible to own a Cyprus company without my government knowing about it.

 

[JohnLocke]

admin thanks for your reply it's very useful information. I'm trying to figure out now a good price/quality for the services.

Your welcome, please just get back if there are any additional questions or if I can do something to help you to incorporate your Offshore company.

 

[clemens]

jpay: thanks a lot, I will check. Since I'm an EU citizen I guess it's not possible to own a Cyprus company without my government knowing about it.

Im not aware of your budget, but a Seychelles Holding owning a Cyprus company will make it safe to own a Cyprus company. I have a similar setup where the Seychelles company is Beneficial Owner, Director and shareholder in the Cyprus company, it works like a sharm :0)

 

[cosmo]

Im not aware of your budget, but a Seychelles Holding owning a Cyprus company will make it safe to own a Cyprus company. I have a similar setup where the Seychelles company is Beneficial Owner, Director and shareholder in the Cyprus company, it works like a sharm :0)

Because the Seychelles Holding company is super privacy and no one can llokup the owner or why? I have the same situation as OP so looking for solution for my offshore company structure as well, same for offshore banking.

 

[JohnLocke]

Because the Seychelles Holding company is super privacy and no one can llokup the owner or why?

That could be one of the reasons, yes.

 

[taxraider]

I’m looking for a bit of specialized feedback concerning opening an offshore company + bank account.
I’m an EU citizen and I own a business which is specialized in online/affiliate marketing. Up until a month ago I was working with companies in the same and surrounding countries.


However I’m expanding now and will start receiving payments from US affiliate companies in july/august. These companies will pay by check (or Paypal but from what I’ve heard that’s always a bad idea).


Now I was thinking of putting the earnings of the US affiliate companies under a new offshore company to limit/avoid taxes, I will of course also keep my current company.


That’s step 1 of the plan. Step 2 involves investing that money in Forex and later use it to buy property in the EU (but not my own country) with the company


Question 1: Which country would suit me best for the company and/or bank account. Cyprus is of course out because I’m an EU citizen.


Question 2: Which setup company would you suggest to use? I need some sort of banking service since the other companies will pay by check which needs to be deposited (and I can’t do that). I was thinking about SFM Offshore or Maritime International Limited.


Question 3: Can there be a problem when I use the company for different kind of investments (Forex + property)


Question 4: Can I change setup company once my company is registered (or after 1 or 2 years) or will it always be managed by the same firm?


Any feedback is very welcome!

Did you find a solution for your situation?

 

[benjamin]

What you try to accomplish is easy with either a Hong Kong, Seychelles or any other offshore company! It's actually not a problem.

 

[ozzke]

Yes my solution was a IBC in the Seychelles with a bankaccount in Cyprus

 

[powerbeme]

I'm considering the same slution, seems that it is what many have done. I'm just not sure if it is better with a Belize company rather than a Seychelles company :S -confused:

 

[JohnLocke]

Maybe this article may help you in your decision, also approach your partners with who you are going to do business to see if they have any issues with either a Belize or Seychelles company

 

[fasteroffshore]

You can change the entire company structure later on just have in mind it costs money!