In what cases a company in Belize is worth it?

[blackeric]

I've heard someone, who's been running businees for a over decade, say that he won't normally open a company in Belize and other tax heavens with low reputation. But for some special purposes a Belize company can be a good fit.

What can be those special purposes?

 

[James Turner]

General privacy, asset holding, as a vehicle to protect wealth/assets, trading where the client o supplier are unconcerned about company location. Belize Companies can be used for many purposes.

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[blackeric]

James Turner said:
General privacy, asset holding, as a vehicle to protect wealth/assets, trading where the client o supplier are unconcerned about company location. Belize Companies can be used for many purposes.
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Is a bank account of a company also assumed to be in Belize?

 

[James Turner]

No, banking for Belize Companies is often arranged in other locations. It does not have to be in Belize.

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[blackeric]

I've also heard that it's pretty difficult to open a bank account for a Belize company. What locations, for instance, will accept it?

 

[James Turner]

Banking can be arranged in for Belize Companies in Belize, Mauritius, Seychelles, Cayman, Puerto Rico, Nevis to name just a few.

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[JohnSeed]

James Turner said:
Banking can be arranged in for Belize Companies in Belize, Mauritius, Seychelles, Cayman, Puerto Rico, Nevis to name just a few.
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It's not going to be that easy, personal visit is required and you have to provide endless numbers of documents.

Belize and EMI's like Transferwise, Paysera and services similar is what your option in real live is.

 

[James Turner]

Personal visit is in almost all cases not necessary to open a bank account. There is a reasonably standard set of documents needed in terms of personal ID, corporate documents etc which is not so hard to provide if the company was created properly in the first place. If the company has been badly created then documents are not always produced, but even in this case they can be created at a later date and supplied to a bank. EMI's are not so good in my opinion and I would always prefer a proper banking arrangement.

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[blackeric]

moneynetwork said:
Belize and EMI's like Transferwise, Paysera and services similar is what your option in real live is.
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Paysera or pantera rather?

 

[user9823671]

James Turner said:
Banking can be arranged in for Belize Companies in Belize, Mauritius, Seychelles, Cayman, Puerto Rico, Nevis to name just a few.
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Would you have a preference (as punter) of those banks?
Are some better than others?
Are some better for some businesses than others?

 

[blackeric]

Are Belize and Seychelles companies good fit for a VPN SaaS?

 

[user9823671]

blackeric said:
Are Belize and Seychelles companies good fit for a VPN SaaS?
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I've seen a VPN company from BVI going through a 3rd party payment processor. I contacted them and they won't speak to you unless you are doing 100k a month sales. So assuming you are not at that level, your issue is going to be banking and processing payments monthly.

Getting paypal will be next to impossible from my research, so you need to go through a 3rd party who will take the paypal through their account.

If you find a solution, would be very interested to hear it

 

[blackeric]

for processing payments, solution would be my own crypto processor

 

[user9823671]

If you don't need a payment processor then it will make things much easier. Would you need a bank? If not, then again makes it much easier. Either seychelles / belize should be fine in that case