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Opening an offshore company is easy. The difficult part is getting a recognised and respectable bank to open an account with an offshore (tax-haven based) company, especially if the company has a nominee director. Also, no bank will be keen to offer a Merchant facility to any such company...

If the nominee director is a signatory to the bank account (which EVERY bank will insist on), then he has access to all of your funds in the account. If your nominee director has given a general Power of Attorney to you, then he can also take that PoA off you at ANY time and then has access to...

Check your Private Messages. Hmmm seems like I can't send you a Private Message. You can contact me on johnreece1975 at gmail dot com I have been where you are now and have found the solution PS I am NOT a vendor Last edited by a moderator: May 1, 2012

Can anyone advise me on this advantage of using the trust.

Hi kefth, Thank you for your intelligent and rational response. I can now see how you are approaching the problem. You are using the offshore banking account (which is attached to the Cyprus holding company) as a "transit" account, which you then transfer to a personal account. I have been...

Hi kefth, How have you protected yourself from having the Board of Directors revoking the instructions assigning you as the sole signatory (and potentially installing themselves as the new signatories)? If you are using a nominee Directors, it must (at some time) become very tempting for the...

Thank you for your response. How have you protected yourself from having the Board of Directors revoking the instructions assigning you as the sole signatory (and potentially installing themselves as the new signatories)?

I am curious about this. Are you a Director of the company? (If so, then you can easily be found by the tax authorities) If you are not a Director, how did you open the bank account ? And how can you be a sole signatory if you are not a Director?

That's disappointing because that is the whole crux of the matter... The signatory to the Bank account is the issue. The key issue is that opening an offshore company is useless if it is necessary to use the Nominee Director to be the signatory to the Offshore Bank account (And banks demand...

The duties of your"Protector" looks very similar to the duties and responsibilities of a Nominee Director of a Company. So who did you use as your Protector? Was he the signatory to your Bank account at the opening of the account? Is he still a signatory to your account? A local lawyer...

Can you please elaborate on this? What is the structure of "a professionally structured trust" Isn't that basically the same issue as having a Nominee Director. Is the Trustee the signatory to the bank accounts?? Last edited by a moderator: Mar 5, 2012

I agree 100% with you on that Can you please elaborate on this? I am not seeing the advantage of a trust at the present time. Surely a gift/transfer to a trust owned by an individual would set off the same tax issues as sending it to the individual personally. It is the transfer of the...

I am in the process of setting up an offshore company through a well-respected company (been in operation since 1987 which has been verified) in London using a Nominee Director. They are opening an offshore banking account BUT the nominee director of the offshore company (supplied by Company...

Thank you dwilson for your response. However, I am coming to the conclusion that there is no satisfactory solution to my problem. As I have said above, it seems that if you want to establish an Offshore Company and an Offshore Bank account, then you have only two choices: Either 1). one...

One of the issues that I am sure of, is that the Company that I am using to establish the Offshore Company and the Offshore Bank accounts is one of the best and most respected in the market. They have been around since 1987, they have physical offices in most relevant jurisdictions and are...

I am also aware that the relevant Company Provider would probably prefer to remain a more discreet presence so I again ask the Moderators/ Admin to delete this thread.

I would like to emphasise that I am not laundering any funds or attempting to avoid tax.. I am simply looking to move my assets (and future income flows) to a more tax efficient location I would seriously doubt that the relevant company (which is setting up the offshore company) would be a...

How is the real ownerof an Offshore Bank a/c protected from the Nominee Director I am in the process of setting up an offshore company through a well-respected company (been in operation since 1987 which has been verified) in London using a Nominee Director. They are opening an offshore...

As a businessman, I agree with what you say. But when it comes to protecting the bulk of my assets, then the Offshore Company and Offshore Banking route seems too risky and dangerous.

Thank you dwilson for your response. However, I am coming to the conclusion that there is no satisfactory solution to my problem. As I have said above, it seems that if you want to establish an Offshore Company and an Offshore Bank account, then you have only two choices: Either 1). one...