Seeking banking solution for (globally distributed) Consultancy Co.

[theta]

Hello everyone!

I am a UK native.

About 15 months back I started working for US start-up as a remote consultant in the role of lead software engineer. I progressed fast to effectively becoming technical coordinator and head of technical staffing.

Since then I've travelled through several countries, living several months at a time in each.

Together with a friend (a delegation I now regret; I should have done this all myself) I used OneOffshoreCompany (oneoffshorecompany.com) -- I'll call them 1OSC -- to create a consultancy company based in Seychelles.

The startup that initially engaged me now engages the services of this company, and it is my hope that I can help future start-ups learn to fly in the same manner, building a network of engineers as I go.

It appears I can even travel to the USA on a Business Visa, sponsored by my company, which in turn is sponsored by the client.

So far so good.

The problem is the bank account. 1OSC recommended I use Euro Pacific Bank (Offshore Banking in the Caribbean | Security and Stability ), and I finally have a functioning bank account with them. Functioning as in: I can login, and I have been able to pay them $360 (one years' fees upfront, which 1OSC didn't warn me about).

Today I have been reading through threads on this site, and you guys have been tearing them limb from limb.

My confidence level is currently bouncing on zero. I can't see even one reputable old-timer here giving them a good word.

What can I do?

Could I open a Corporate Account with, say, NatWest, back in the UK? Is there any reason not to?

While I have no qualms with illegal activity (so long as it does not cause harm -- it is my view that many laws are themselves corrupt and in direct violation of Nature -- you cannot ingest a certain medicinal plant, etc.), it appears to me that software engineering is one of the relatively few occupations that actually allows Tax Avoidance without falling the wrong side of the various legal systems of the world.

Can anyone correct me if I'm missing something? Can anyone spot any red flags? I don't wish to get put in a cage.

Can anyone recommend another bank? I suppose I would reluctantly fly over to wherever (Hong Kong??) to present myself in person to open an account.

What's my best play here?

 

[Tax Cow]

As far as hide and seek strategies go, the crucial mistake you made is that you did not obtain new residency or citizenship outside the UK. The offshore company itself should have been established with an ID document from another country, not with an ID of UK government. This failure alone is a reason to throw away your offshore company and establish a new one that appears to have no UK ties. What do you think will happen if the UK government demands data of all UK residents and nationals from that incorporation mill? Would they protect your identity?

A flight to Hong Kong will likely be a waste of time. Banks in IoM are more likely to service offshore corps that have genuine UK business ties. In any case, there is no point in opening an account there before you can present yourself with a foreign ID. The same holds true no matter where in the world you end up banking.

As far as other banking options - consider places where you have business ties (clients, employees, contractors). That will boost your odds significantly.