Seychelles Company with Bank?

[ahuman]

Hello Guys,

I am going to open a seychelles company and I have one big question which keeps me from establishing.

I am a EU Citizen, so everything is safe with the company with the nominees but when I create the bank Account which has to run over my name at Transferwise, is it safe that my Country does not get the information about the bank account and my holdings there? any suggestions where to create a account instead of Transferwise if im a EU Citizen to be safe from double taxation or even tax fraud.


Would be nice if someone could explain that to me .

Thank you

 

[user9823671]

If you planning to protect yourself by hoping the bank / EMI doesn't report you to your home country, this is not a good plan when you can face serious consequences.

 

[Plavivoz]

First invoicing your EU company from seychelles wont work.
Second Transferwise will report you one day in the future so you are not save from tax fraud.
What you are looking for is a UBO nominee.
The risk of a UBO nominee is that he owns the company and the bank account and could run away every second.
So it is a matter of how you handle your "partnership" with him.

 

[ahuman]

First invoicing your EU company from seychelles wont work.
Second Transferwise will report you one day in the future so you are not save from tax fraud.
What you are looking for is a UBO nominee.
The risk of a UBO nominee is that he owns the company and the bank account and could run away every second.
So it is a matter of how you handle your "partnership" with him.

Thank you for the advices!

Can you tell me what is the best way then for my case. We have a legit business we want to setup but want to prevent tax but with this situation atm we also cannot travel to open up a company somewhere. And also the bank account should be safe without leaking our names

 

[Seychelles Service]

First invoicing your EU company from seychelles wont work.
Second Transferwise will report you one day in the future so you are not save from tax fraud.
What you are looking for is a UBO nominee.
The risk of a UBO nominee is that he owns the company and the bank account and could run away every second.
So it is a matter of how you handle your "partnership" with him.

Im sorry, but that is the worst advice i read before and wrong also...

first:
black listed are not a problem, its a benefit, because it says that we are not accept all regulations from the EU and what kind of sanction the EU can give?
in all the years seychelles go in and out auf the black list of EU nothing happen bad, nothing happen good
more important are that OECD has seychelles not blacklisted
invoicing works very well in all the years

second:
transferwise wrote, "TransferWise Limited is a UK company authorised by the Financial Conduct Authority as an Electronic Money Institution. We are still evaluating the impact of the Common Reporting Standards, including FATCA, to our business and how we will adopt the new requirements. At this time we are not reporting this information to HMRC or any other tax authority."

third:
dont use nominee sharheolder when you do a legit business. that makes everything very complicated and isnt common. but if you really need, dont use a service use a family member, but not even a friend.

 

[Plavivoz]

Im sorry, but that is the worst advice i read before and wrong also...

first:
black listed are not a problem, its a benefit, because it says that we are not accept all regulations from the EU and what kind of sanction the EU can give?
in all the years seychelles go in and out auf the black list of EU nothing happen bad, nothing happen good
more important are that OECD has seychelles not blacklisted
invoicing works very well in all the years

second:
transferwise wrote, "TransferWise Limited is a UK company authorised by the Financial Conduct Authority as an Electronic Money Institution. We are still evaluating the impact of the Common Reporting Standards, including FATCA, to our business and how we will adopt the new requirements. At this time we are not reporting this information to HMRC or any other tax authority."

third:
dont use nominee sharheolder when you do a legit business. that makes everything very complicated and isnt common. but if you really need, dont use a service use a family member, but not even a friend

You are a company service provider selling seychelles companies. Seems biased to me. Guess this is the reason why it is "the worst advice you read"

First:
The local taxmen will just not accept the invoice and he has to pay tax on the original profit.
Good luck during the next audit.

Second:
"At this time" means this is not a stable situation. This is like traveling by ship which is going to sink but you dont know when.

Third:
This is not legit business. This is tax fraud.

 

[Seychelles Service]

First:
The local taxmen will just not accept the invoice and he has to pay tax on the original profit.
Good luck during the next audit.

1. in 13 years i heard about that story, but it isnt true... the true story are, that some people has done some NOT legit bills to bring out money or reducing tax with too much high bills and they are rejected, but a normal bill who is comprehensible will not be rejected by the tax gov.

Second:
"At this time" means this is not a stable situation. This is like traveling by ship which is going to sink but you dont know when.

2. nobody knows anything what happen in the next years with everything, or you have a glassbowl?
we all can just decide with what happen at the moment

Third:
This is not legit business. This is tax fraud.

3. IDK if its legit, the thread-owner wrote it legit, i just repeat

 

[Seychelles Service]

You are a company service provider selling seychelles companies. Seems biased to me. Guess this is the reason why it is "the worst advice you read"

no, its just experience speaking and i dont like if someone gave wrong advices

 

[saduna]

What you do depends on your country of citizenship. For any EU country I have seen, they treat Seychelles company as a potential tax evasion scheme.
Firstly in almost any EU country you are required to report your foreign income. If you own/control a foreign company you have to pay taxes on company profits whether you got paid by the company or not. If you think not reporting to your government or some secrecy will get you off, don't. At this day and age you are very likely to get caught and pay taxes and penalties.

You can do this properly but you need know the tax code of your country and also you need to partner with someone so that you at least pay taxes on the money you receive. This will cost you a lot, at least in a place like Seychelles. Setting up just a company is cheap, ask for a total price including legal support, financials, accounting, cost of a Director, banking costs, address, etc. After you see the total cost you can decide how to move forward.