Signed up for mentor group and moving my questions to this part instead of the public forum.
I read and read and still feel confused. Starting this thread to add clearance to a foggy situation. Hopefully it could help out others as well.
Context:
1. I do consultancy work for a EU customer on site (my own country of residence). Customer knows who I am. Between myself and the end client I have a broker. The broker knows who I am. It is the broker, not the end client, that I will have to sign the contract with. I do not want to put my signature on this document. I am just a “normal employee”.
2. I want to pay as low tax as possible and want to invoice from foreign company. No one must know I am the owner of this company.
3. I don't necessarily need to take out any money for myself for many years (at least 5-10 years). It is fine to accumulate/invest all the money coming in.
Solution:
Setting up Cyprus resident company with 12.5% company tax, registered for VAT to make it “look” more professional. Non-resident company with 0% tax is not going to work for me.
Maybe set up a Seychelles holding company owning the shares of the Cyprus company.
- Now, where does the customer pay all the invoices? If I open a bank account in Cyprus (or anywhere else) I will show up as the beneficial owner. Not good. So I open a Worldcore account and let the client (the broker) pay by SWIFT/IBAN to a Worldcore account. But then Worldcore will know I am the beneficial owner? I could use the “special documents” from auric to open an account but does this mean that I would need to use the same documents to set up the Cyprus company (so the “beneficial owner” is the same in all documents)?
- So let us say the money comes in to the Worldcore account and I want to move big chunks of money from there to another account which is safer (safer with regards to if the account is closed down/scam/etc). Where is this account? A bank account somewhere else? Who owns it? If I start a Seychelles holding company to open this account my name will still show up as beneficial owner. Not good. Do I use the fake documents from auric to start this company in Seychelles? I'm afraid of a situation where the company has lots of money in a bank account and then the bank or the Seychelles government finds out that the company is registered with fake names and then blocks the account (with all the money). 🙁
- Instead of moving out the funds from the Worldcore account I buy bitcoins. Is this a good approach? Then I keep the money close to me all the time and don't risk any account shutdown. Have no experience with bitcoins but I assume I could just buy them and store them on a USB memory in a safe?
- Take all the money in the Worldcore account and invest in stocks (e.g. DOW, Nasdaq). Where do I open an investment account? Who opens the account? The Cyprus company? Its parent holding company? No matter what, I show up as the beneficial owner again. Not good. How do I proceed here?
- If I start company with fake documents. I will have to send all these documents to the registering offshore agent? So I will be anonymous towards them as well? If yes, how do I pay them to not leave any trace to me? Paypal is not going to work since the account is in my name. Bitcoin? For a rookie bitcoiner where do I create an account and buy my first bitcoins to be able to pay the agent?
- If opening a Cyprus bank account for the Cyprus company. Can I come in with fake documents for the beneficial owner but keep all the other documents real (showing me as the owner of the parent Seychelles company)? Do I need to tell the bank if the beneficial owner changes? I imagine a situation where I use fake documents for beneficial owner and at some point in time if they ask to contact the beneficial owner I could just say that the beneficial owner has changed because the parent company was sold or whatever.
- I open Secyhelles holding company. I open a Cyprus company owned by the Seychelles holding company. I open a bank account for the Cyprus company. Does the bank ask for company documents for the Seychelles holding company? That is how they determine who is the beneficial owner, right?
- Assume I could get a person in some non-EU country to be “owner” of the Seychelles holding company. Does this mean that I do not need to play around with fake documents at all since the banks will see this beneficial owner and if needed they will report him to his country of residence instead of reporting me to my country of residence? But then I would need a Power of Attorney to handle the bank account? And then the bank could report the guy (me) with the Power of Attorney as well? Not good.
I don't know if I'm thinking about a more complicated solution than what I need. I may or may not need any fake documents. I have too much money coming in every month for me to risk having accounts and companies closed down because of using fake documents.
If I use the setup of having Seychelles holding + Cyprus company then would I need two bank accounts (one for each company)? Most important is that the client (broker) can pay me via SWIFT/IBAN and that I somehow have the money in a relatively safe place (not risking having the account close down).
I don't ask for miracles, I don't ask for the cheapest solution. I ask for a solution that may work for me without attracting too much attention from my home country.
Can any helpful soul shed some light one this murky situation?
Thanks.
I read and read and still feel confused. Starting this thread to add clearance to a foggy situation. Hopefully it could help out others as well.
Context:
1. I do consultancy work for a EU customer on site (my own country of residence). Customer knows who I am. Between myself and the end client I have a broker. The broker knows who I am. It is the broker, not the end client, that I will have to sign the contract with. I do not want to put my signature on this document. I am just a “normal employee”.
2. I want to pay as low tax as possible and want to invoice from foreign company. No one must know I am the owner of this company.
3. I don't necessarily need to take out any money for myself for many years (at least 5-10 years). It is fine to accumulate/invest all the money coming in.
Solution:
Setting up Cyprus resident company with 12.5% company tax, registered for VAT to make it “look” more professional. Non-resident company with 0% tax is not going to work for me.
Maybe set up a Seychelles holding company owning the shares of the Cyprus company.
- Now, where does the customer pay all the invoices? If I open a bank account in Cyprus (or anywhere else) I will show up as the beneficial owner. Not good. So I open a Worldcore account and let the client (the broker) pay by SWIFT/IBAN to a Worldcore account. But then Worldcore will know I am the beneficial owner? I could use the “special documents” from auric to open an account but does this mean that I would need to use the same documents to set up the Cyprus company (so the “beneficial owner” is the same in all documents)?
- So let us say the money comes in to the Worldcore account and I want to move big chunks of money from there to another account which is safer (safer with regards to if the account is closed down/scam/etc). Where is this account? A bank account somewhere else? Who owns it? If I start a Seychelles holding company to open this account my name will still show up as beneficial owner. Not good. Do I use the fake documents from auric to start this company in Seychelles? I'm afraid of a situation where the company has lots of money in a bank account and then the bank or the Seychelles government finds out that the company is registered with fake names and then blocks the account (with all the money). 🙁
- Instead of moving out the funds from the Worldcore account I buy bitcoins. Is this a good approach? Then I keep the money close to me all the time and don't risk any account shutdown. Have no experience with bitcoins but I assume I could just buy them and store them on a USB memory in a safe?
- Take all the money in the Worldcore account and invest in stocks (e.g. DOW, Nasdaq). Where do I open an investment account? Who opens the account? The Cyprus company? Its parent holding company? No matter what, I show up as the beneficial owner again. Not good. How do I proceed here?
- If I start company with fake documents. I will have to send all these documents to the registering offshore agent? So I will be anonymous towards them as well? If yes, how do I pay them to not leave any trace to me? Paypal is not going to work since the account is in my name. Bitcoin? For a rookie bitcoiner where do I create an account and buy my first bitcoins to be able to pay the agent?
- If opening a Cyprus bank account for the Cyprus company. Can I come in with fake documents for the beneficial owner but keep all the other documents real (showing me as the owner of the parent Seychelles company)? Do I need to tell the bank if the beneficial owner changes? I imagine a situation where I use fake documents for beneficial owner and at some point in time if they ask to contact the beneficial owner I could just say that the beneficial owner has changed because the parent company was sold or whatever.
- I open Secyhelles holding company. I open a Cyprus company owned by the Seychelles holding company. I open a bank account for the Cyprus company. Does the bank ask for company documents for the Seychelles holding company? That is how they determine who is the beneficial owner, right?
- Assume I could get a person in some non-EU country to be “owner” of the Seychelles holding company. Does this mean that I do not need to play around with fake documents at all since the banks will see this beneficial owner and if needed they will report him to his country of residence instead of reporting me to my country of residence? But then I would need a Power of Attorney to handle the bank account? And then the bank could report the guy (me) with the Power of Attorney as well? Not good.
I don't know if I'm thinking about a more complicated solution than what I need. I may or may not need any fake documents. I have too much money coming in every month for me to risk having accounts and companies closed down because of using fake documents.
If I use the setup of having Seychelles holding + Cyprus company then would I need two bank accounts (one for each company)? Most important is that the client (broker) can pay me via SWIFT/IBAN and that I somehow have the money in a relatively safe place (not risking having the account close down).
I don't ask for miracles, I don't ask for the cheapest solution. I ask for a solution that may work for me without attracting too much attention from my home country.
Can any helpful soul shed some light one this murky situation?
Thanks.
