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Which company can help me with setup Nevis Company with Bank account

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MrSoolmaan

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Mar 9, 2019
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#1
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Dear People,

I'm looking to set up an offshore company for internet business.

I'm an expat traveling and living around the globe, every few years I move to a different country.

So setting up a company in the current country I live now and having to close when I move again doesn't make any sense. This is one of the reasons for going offshore.

My first idea was BVI, but then I read up about Nevis. This to me seems the best way forward for me, not expensive and I really like the protection, plus not having to have accounting and audits.

I'm seeking a company that can help me with setting up the company and bank account. Off course doing at a low budget is nice, but would rather pay a bit extra so I'm dealing with people that know what they are doing.

So simply said, can anyone recommend me a company that can help me set up a Nevis company with Bank account?

What is the difference between Nevis IBC and Nevis LLC?

I don't require privacy on the bank account. My intention is not tax evasion.

Thanks for any suggestions!

Best regards,
MrSoolmaan
 
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#2
MrSoolmaan said:
My first idea was BVI, but then I read up about Nevis. This to me seems the best way forward for me, not expensive and I really like the protection, plus not having to have accounting and audits.
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That may indeed be the best solution for you. Alternative you setup a Seychelles with and EMI account like Mister Tango or similar which is even less expensive.

The problem will be that no bank is going to opean an account for a Nevis company for the same reason as for Belize, Seychelles and other offshore companies where accounting and filing of tax reports are not required.

You may look either into Mauritius or Cyprus which is more expensive but at least you will have the opportunity to setup a real bank account for your business activities.
 
#3
Thanks!

Are you saying it's impossible to get bank account with Nevis or BVI company?
As I do see services/companies on the internet that offer setup of BVI / Nevis company with bank account.
 
#4
MrSoolmaan said:
Are you saying it's impossible to get bank account with Nevis or BVI company?
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nothing is impossible but 99% of time it is so complicated that you want to forget about it. Offshore banks, so normaly banks are under huge presure to tighten all their policies and apply to lot's and lot's of International regulations that they don't even know themself what they can do or not.

If you stick with something that is transparent it will work for you, unfortunately Nevis does not comply to this. BVI can work but it's very complicated to get a BVI company today.
 
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#6
Admin is right jurisdictions such as Nevis, BVI etc are difficult to obtain banking for but not impossible. It takes longer and is more complex with generally more documentation needed to get established. Banking certainly exists for Nevis Company if this is your location of choice.
 
#8
Great, so let us know the outcome of this meeting, where is the company located that you will meet with?
 
#11
Hi Guys,

I had the meeting and this was the advise: (keep in mind, my goal is to run a legitimate company to do fair business and no intentions for tax invasion.

Setup company on the BVI is possible with bank account, but to get a bank account it's not so very easy and many banks will not even have BVI companies. BVI company would be good to setup if you just want it to hold the IP.

Nevis company was absolutely not recommended, bank account impossible and Nevis has a bad reputation, because of the protection many bad companies are there.

Recommendations are:

Gibraltar relatively cheap to setup, income to the company tax-free (if the business is from outside Gibraltar), 1 shareholder and 1 director who can be the same person, setup time about 5 days. A company bank account is no problem, many well-known bank will open an account.

Other option which was highly recommended, was to setup in the new international jurisdiction 'Abu Dhabi Global Market'. This works more or less the same as the BVI jurisdiction. The law is the British common law and all documents are in English. Just a bit more expensive than a BVI company but cheaper than a Gibraltar company. Also tax-free (guaranteed for 50 years), 1 shareholder and 1 director who can be the same person. Setup time about 12 days. Company bank accounts no problem, also many well known Abu Dhabi banks will open an account.

Both for Gibraltar and Abu Dhabi Global Market (ADGM) an office address is required. The company/agent I spoke to will supply the office address and handle the registration. I believe (not 100% sure) ADGM doesn't have a public register, so secrecy should be ok, if this is important for you. ADGM also has a good reputation.


For my current project a BVI company (without a bank account) would be fine to hold the IP. But as soons as the project hopefully starts generating some revenue I would need a bank account. So BVI would then not be good. Therefore I think I will be setting up an ADGM company.

Hope this information will be useful for you.
 
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#13
camelfighter said:
How complicated is it to setup a BVI company? I read it is very complicated document vise!??
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TONS, TONS & TONS of paperwork lots of stupid questions and lot's of certificates and notarizing! It's almost impossible.
 
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#15
James Turner said:
Admin is right jurisdictions such as Nevis, BVI etc are difficult to obtain banking for but not impossible. It takes longer and is more complex with generally more documentation needed to get established. Banking certainly exists for Nevis Company if this is your location of choice.
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Just found out some information that is making me consider this as an option again (privacy and protections).

When you say "not impossible", what do you mean? Something may be possible, but in such a tiny% of cases that it is all but impossible.
How much longer, how much more complicated and what additional documentation do you mean?
 
#16
Banking for Nevis companies is generally possible, but you have less country options and a smaller number of banks willing to consider the case than say a company formed in a highly respectable location. Do not be put off by that though, many Nevis Companies are incorporated every day with banking arranged successfully for them.
 
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#17
Any of those banks usable for an online software company? Selling one time fee programs at $100 each or for subscription based webapp?

From my understanding paypal not an option - would be nice but the protections that come with a nevis (or similar) company are worth the tradeoff.
Could a merchant account be had to charge debit / credit cards or would customer banks have issues with the bank and refuse payments (endless headaches for monthly subscription payments).
Again, from my understanding, payment processors should be ok, I've done some looking around and can find a few that at least show initial interest that would take the business on, but they tend to be unheard payment processors so not sure how great they would be going forward.
 
#18
James Turner said:
Banking for Nevis companies is generally possible, but you have less country options and a smaller number of banks willing to consider the case than say a company formed in a highly respectable location. Do not be put off by that though, many Nevis Companies are incorporated every day with banking arranged successfully for them.
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Where can you bank with a Nevis company? without huge minimum deposits
 
#20
user9823671 said:
what would be classed a "huge" min. deposit?
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Plenty of banks in reputable jurisdictions would open for Nevis\Curacao etc for 500k-1m if you're willing to close it as investment.
 
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