Offshore companies or IBCs

[JohnLocke]

It's just been complicated to incorporate a BVI‍ company because of all the requirements they have to the documents required.

 

[JohnLocke]

It's not going to be "easier" they will require the same documents and‌ the same information. I guess they already knew about the #PanamaPapers long before it got‍ public!

 

[JohnSeed]

Today one‍ can forget about BVI as a jurisdiction to incorporate their business, it's complicated and provides⁠ almost no security any longer.

 

[mnschwarz]

If one already has a BVI IBC with bank accounts, assets etc, would you recommend‌ incorporating elsewhere and shifting these assets? Or is it more a problem with new incorporations?‍

 

[dotbloup]

If someone has an IBC anywhere in the world, if⁠ it is ready, i would suggest to keep it and to see what you can⁤ do with it.

This IBC can hold patents, trademarks, copyrights, domain names and sell license,⁣ right for use to any companies in any country in the world to a reasonable⁢ extent. (Not 50-100% of a company profit).

I also say a reasonable extent because it︀ is required to repatriate the money.

 

[suzy]

Same thing just two different terms. An Offshore IBC is the same as an offshore‌ company most often IBC just make it clear that it can't do domestic business.

 

[Houdini]

Offshore Company with the ending IBC can't do domestic business isn't that the difference?

 

[uplana]

Yeah same thing. Some offshore jurisdiction don't⁠ allow the wording IBC but rather call the LTD or similar!

 

[uplana]

Why not? If we can collect‍ all the documents required to get a BVI company wouldn't it be a better option⁠ compared to Cyprus, Malta or UK?

 

[Old Spice]

Who knows what European offshore companies might have to comply with in the future since‌ they are part of the EU gang. I suspect a BVI company has the advantage‍ of its independence and the BVI government can structure any agreement to its own advantage.⁠ BVI already has some double taxation agreements in place and of course the TIEA's with⁤ some of most highly taxed nations in the world. This alone can make a BVI⁣ company a powerful entity where the EU, Asia and the US have flawed business models.⁢

 

[JohnLocke]

Well, I don't see any benefits to BVI compared to Cyprus or Malta.

 

[Old Spice]

From a legal perspective, my guess an EU registered company doing business inside the EU‌ does carry some liability. i.e. A contractual obligation could be threatened by something as simple‍ as an EU investigation with no merit.
In the case of the BVI corporation, it⁠ would be difficult to carry forward the investigation due to the jurisdiction.

I have this⁤ gut feeling the EU as a gang is trying to protect its interests and will⁣ gradually convince these low tax countries they will need to work the EU way and⁢ equalize interests.

BVI companies are not for everyone but they do have a niche when︀ legal matters are of interests.

 

[Green]

Dear all,

I can't see the button to create new thread.

Here is my problem:‌

I own a Seychelles company, but I am unable to open a bank account.

This company is newly set up recently.

Therefore, I would like to close this company.

However, the dissolution fee is very high.

Can any of you give me a suggestion to‍ lowest my fee to finish this company?

Heard

1) just don't pay renewal fee, but⁠ any risk? and how long will this Seychelles company last?
2) sell this company to⁤ others. Anything I need to notice?
3) do other investment. But what? since I don't⁣ have money