St. Vincent IBC; any owners?

[MackDaddyT]

Does anyone have any experience with a St. Vincent formation? Many years ago, I had a bank account with Loyal Bank. What a joke!

Now I'm considering an IBC have am looking at both St. Vincent and Belize. I've read that St. Vincent is very corrupt. Just want to hear the experience of others.

 

[negon]

It doesn't matter if St. Kitts is corrup since you only want your company there! You want to look into what your goals are and what it is you want to use the company for before you decide which jurisdiction to go for!

 

[MackDaddyT]

auric said:
It doesn't matter if St. Kitts is corrup since you only want your company there! You want to look into what your goals are and what it is you want to use the company for before you decide which jurisdiction to go for!
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I have two goals. First (and most importantly), I want my money beyond the reach of prying eyes and greedy lawyers. I live in the USA, and I realize privacy is out of the question, but at least my account can't be frozen by the government if it's offshore.
Second, I want some intellectual property protection. I'm a software engineer and author.

 

[JohnLocke]

Depending on your budget a Belize, Cyprus or even Malta corp. would protect your assets. You want to open an account for this company either in Cyprus or with an EMI provider where the latter (that's what I think) will be even more difficult for anyone to freeze your money.

Otherwise a large structure with a Foundation and IBC will help you to protect your money and privacy but it's costly.

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Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​

 

[Spinat]

You need a legit setup to avoid anything frozen and to be recognized by the local tax office! What is your budget for such a setup?

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[MackDaddyT]

Admin said:
Depending on your budget a Belize, Cyprus or even Malta corp. would protect your assets. You want to open an account for this company either in Cyprus or with an EMI provider where the latter (that's what I think) will be even more difficult for anyone to freeze your money.

Otherwise a large structure with a Foundation and IBC will help you to protect your money and privacy but it's costly.
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Thank you for the recommendations.

I'm considering Belize with either a Revolut, LeuPay or Mistertango account.

 

[MackDaddyT]

blueweb said:
You need a legit setup to avoid anything frozen and to be recognized by the local tax office! What is your budget for such a setup?
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$1000-$1500US

 

[Spinat]

Go for a Belize corp with MT account. Works pretty good for me so far.

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[MackDaddyT]

blueweb said:
Go for a Belize corp with MT account. Works pretty good for me so far.
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I thought MT does not take US clients?

 

[Spinat]

They claim they take worldwide. I can't find where it say no US citizens so I suggest to contact their very responsive support and ask them how to get started.

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[diablo]

You could setup your company in St. Vincent or Belize and banking with one of the EMI's you can find around here on the forum!

 

[MackDaddyT]

blueweb said:
They claim they take worldwide. I can't find where it say no US citizens so I suggest to contact their very responsive support and ask them how to get started.
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In the support section of the website it lists all unsupported countries, which includes the USA.

 

[Spinat]

okay, so they are out of question... have you looked into Revolut, or any of the many other EMI's List of EMI and Digital Banks

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[lostguy]

looks like most banks and EMI's avoid US citizens or they have this FATCA application you have to complete!