I agree, if SFM offshore is only a reseller it would be stupid to go through them to get a company setup. Most offshore jurisdictions have a public register of certified service providers i.e. Seychelles, Belize, Cyprus etc. that means agents allowed to setup IBC's with the regitrar directly.
There have been horrible stories about SFM and others so I try avoid them all.
I did not say they are ''only a reseller'', I am just saying that in jurisdictions where a law firm is not an agent, it will be definitely more expensive than the registered agent. And this is how the industry work. Not only this SFM but all other similar firms
I would be surprised if a firm offering company formation service is a registered agent in 20 or 30 countries
example: Company A, based in St Vincent, that is also a registered agent in St VIncent and Seychelles, but can assist with formation in 30 countries and Company B, based in Nevis, also a registered agent in Nevis and can assist with 20 countries....
If you ask Company A to register an LLC in St Vincent probably their price will be super cheap and for the other countries except Seychelles, they will resell.
Why would you hire company B to help you with a St Vincent registration?
Why would you hire company A to help you with a Nevis regsitration?
If you want to prepare your dinner, it will be cheaper to buy bread in bakery, meat in butcher shop, vegetables in fruit market and alcohol in liquor store instead of buying all together in a grocery with a mark up price. But maybe its easier to buy all together in one place