what Jurisdiction to incoporate IBC and have bank account

[dpastco]

I am running an internet business and like to incorporate in a second jurisdiction.


I am citizen of the EU, no ties to US.


three criterias


.) non EU


.) bank account and IBC must be in same country


.) reliable USD banking system


those jurisdictions are therefore excluded


.) seychelles (not possible to open corporate bank account)


.) belize (usd intermediary problems)


.) st.vincent (usd intermediary problems)


.) panama (banks need five references just to start with)


.) cyprus,latvia (european union)


that pretty much leaves


.) hongkong (bank account opening problems?)


.) singapore


.) uae? dubai?


anyone can give me a hint what is working lately?


i am willing to travel to finalize paperwork


thanks

 

[JohnLocke]

What about Mauritius and banking in Mauritus would that work for you? There is no need to travel there and I belive it should be working for most Internet businesses or what you think?

 

[dpastco]

yes, I am sorry. I forgot to include that one. In the process of another company I was thinking about a MU bank account, and I know that for at least one bank that they exclude USD business.


Im now talking to a provider from MU to follow up on this.

 

[JohnLocke]

Perfect, let us know the outcome of the same, would be great to hear alternatives to the all known. Have you been looking into Cook Islands & Anguilla for corp. and banking?

 

[buzzoffshore]

You wrote that you can travel to open the account so you can form a HK company and open an account in HK with HSBC! I did that for a year ago, there are annual high costs for filing tax and accounting however for me it's worth it.

 

[rotaro]

Why IBC and bank account in same country?

 

[rotaro]

I am running an internet business and like to incorporate in a second jurisdiction.
I am citizen of the EU, no ties to US.


three criterias


.) non EU


.) bank account and IBC must be in same country


.) reliable USD banking system


those jurisdictions are therefore excluded


.) seychelles (not possible to open corporate bank account)


.) belize (usd intermediary problems)


.) st.vincent (usd intermediary problems)


.) panama (banks need five references just to start with)


.) cyprus,latvia (european union)


that pretty much leaves


.) hongkong (bank account opening problems?)


.) singapore


.) uae? dubai?


anyone can give me a hint what is working lately?


i am willing to travel to finalize paperwork


thanks

That's a cool way to source your options. I read some people have had success to open an account in Hong Kong with HSBC, isn't that an option for you? To file a company there is easy I read.

 

[dpastco]

You wrote that you can travel to open the account so you can form a HK company and open an account in HK with HSBC! I did that for a year ago' date=' there are annual high costs for filing tax and accounting however for me it's worth it.[/quote']
thank you.

Why IBC and bank account in same country?

see 2checkout thread

 

[dany]

Do you found any good solution to solve your problem?

 

[dpastco]

not decided yet, most likely UAE

 

[JohnLocke]

UAE is a great alternative to most offshore jurisdictions you may just consider the very high costs and limitations before you go that route.. most often we see clients moving to Dubai and that's why they decide to file for a company there.

 

[dpastco]

What limitations do you mean? (RAK Offshore)


In regards to cost, it's not that bad. somewhere around 2k/year (+/- a few hundred depending on where you go).


No annual reports need to be filed, accounts and company needs to be audited but only for the shareholder (so those cost are 'low', let's see if the banks will ask for it).

 

[JohnLocke]

Well, I don't know the fees since we are not operating there at all. I have just seen offers some clients got and compared to other offshore jurisdiction. I would say if the RAK corp. including banking can do what you are looking for you should do that and not look any further it seems to be the most valid option so far.

 

[buzzoffshore]

What limitations do you mean? (RAK Offshore)
In regards to cost, it's not that bad. somewhere around 2k/year (+/- a few hundred depending on where you go).


No annual reports need to be filed, accounts and company needs to be audited but only for the shareholder (so those cost are 'low', let's see if the banks will ask for it).

Does it make sense to file for a company there.. does it solve the problems you face with the card issuer?

 

[JohnLocke]

Well, it does not solve the issue if you ask me.. haven't yet seen any card processing for Dubai.. if someone know, please post here.