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where to incorporate and how?

harrisgr

New member
My country(second largest population) has tax agreement with seychelles, mauritius and almost all other countries.

The biggest problem with my country is if you own 100 percent shares in a country it is considered resident and liable to file return and pay tax. If I form a company in Belize and that belize company forms a company in Hongkong and has bank account in cyprus will it be safe?
The bank in cyprus has to report HK under normal circumstance but if the bank thinks the effective management is from the home country then this wont protect.
Somone with good experience help me.
 

John2784

New member
This is very interesting and your question has raised another question which could also benefit you: is it possible to create darks and with darks create an IBC from Belize?
Im assuming this could prove more anonymous with more stealth.
If anyone could give us some feedback bout this, could be great.

@harrisgr is it possible you can say what country you are talking about?
 

diablo

BANNED MEMBER
If I form a company in Belize and that belize company forms a company in Hongkong and has bank account in cyprus will it be safe?
The owner will be you so it makes no different as far as I see it.. but hey I'm not a tax Expert!
The bank in cyprus has to report HK under normal circumstance but if the bank thinks the effective management is from the home country then this wont protect.
This could be true but better would be to ask a lawyer about this particular question. Or if possible, a bank!
 

Emily Rimlins

Active Member
In order to avoid tax you need to remove ownership until the 3rd vertical

UBO --> Offshore Company --> Offshore Company --> Bank Account

The owner of the bank account is where the "reporting" is done. As the owner of the company that owns the company that owns the bank account there is no reporting as the company which owns the bank account is offshore, and the owner of that company is offshore...

Hope this helps!

Em
 

superman

Active Member
@Emily Rimlins
Something is wrong.
The Bank ask for the final UBO which must be a person and who is this in your case? Means you can put 10 Offshore companys there it will change nothing.
 

Emily Rimlins

Active Member
@Emily Rimlins
Something is wrong.
The Bank ask for the final UBO which must be a person and who is this in your case? Means you can put 10 Offshore companys there it will change nothing.
If I understood the OP correctly they wanted to avoid taxation. The tax will only be applicable under the owner of the company which owns the bank account. No further. Therefore, you can put 1 or 10 offshore companies, and you are 100% correct, Superman, nothing will change regarding the UBO. But, the bank reports on the account owner, not the 3rd vertical. This means they will report on the Offshore company which owns the Offshore Company which owns the bank account, and as the owner of the company which owns the bank account is an offshore entity there is no tax. This is how we do it and it works 100%. It's also how trusts and nominee services work.

Hope this helps!

Em
 
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