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You don't have to report overseas bank accounts or assets, but you do have to report worldwide income. If you transfer money that has already been taxed out of NZ, you don't need to tell NZ where it is. If that money now earns interest, then you do have to report it. The AEOI will tell NZ that...

Is it a requirement or standard for banks to inform us when they send information? Or do you just have a polite bank?

I looked in to securing a loan for an offshore company a while back and pretty much gave up as most offshore banks wouldn't lend to non-resident companies. Was just wondering if there's any downside to incorporating a second onshore company with the sole purpose of securing a loan? The onshore...

Agreed but I'm not overly concerned about the AEOI anyway. Just looking for low cost USD accounts.

I understand introducing is your business but I always opt to do it myself when possible. It's not exactly difficult and one less person being involved in the process is always quicker and easier. I use introducers only when a bank insists on it.

I just had a look at Standard bank and they list a $6000 minimum balance?

What are trying to achieve? Are you just looking for a stable jurisdiction outside your resident country? Trying to hide money? Reduce taxes?

Didn't wanna start a new thread but does anyone have any experience with either Offshore Company Formations 24Ӣ7 | Incorporate Offshore Companies | Company Offshore Registration | Buy Companies Offshore or http://www.scfgroup.com/ ?

The only way I can potentially see you being able to avoid CFC laws is if Spain excludes EU jurisdictions. These kind of exclusions are somewhat unique to the EU and quite possible. In this case then yes everything would be legal and Cyprus is pretty much your only decent option to lower taxes...

I still suggest you talk to a Spanish tax professional regarding CFC laws. Each jurisdiction has their own version but usually you would pay the difference in tax in Spain. CFC laws were designed with the sole purposes of preventing people doing exactly what you're trying to do.

I won't comment on Cyprus being the best option because I don't have have first hand information on it. As for your other points, a nominee director can be used if privacy is you goal. It may be a wise idea as simply incorporating in Cyprus does not legally avoid taxes in Spain. Spain has CFC...

Go for it. We're always happy to hear about good or bad dealing with agents. It helps the rest of us out as much as we might be able to help you out with our experience.

Hey guys, I'm considering changing from my current agent and looking for recommendations. It would be for registered agent of a Seychelles IBC + Foundation, both with nominees. Nothing too fancy. I'm looking for low cost and a company who has a decent level of support. By that I mean I would...

Or find someone you trust with overseas banks to transfer the money for you and pay them the cash? Or realise you made a mistake and let the bank account go. Next time armed with this lesson learnt you could open the account only when you have customers ready to pay in to the account.

Have you tried several banks? My experience in S.E.A. is that each bank, branch and even the employee you speak to at the time will have different policies. I myself have transferred money out once when I was originally informed I could not. (I wooed the bank girl and she agreed hah). Failing...

If your goal is banking privacy then a non-AEOI jurisdiction like Serbia will achieve it. There is more to choosing a bank & jurisdiction than just reporting however. You need to work out what is important to you and then check individual banks to see if they meet your criteria.

The issue with banking in Latvia is the AEOI - Automatic exchange of information. Latvia is one of the jurisdictions that have signed on (and one of the first ones). This means that you when you open the bank account, they will ask who the beneficial owner is, which is you. They will then...

First just be aware that an offshore IBC alone does not legally seperate you or help you avoid taxes due to CFC laws. That being said, if anonymity and hiding is your goal, nominees will help but they are not a total solution. It is getting incredibly hard to hide assets offshore these days. One...

What difference does that make?

I believe you can only obtain residency in UAE with employer sponsorship or by purchasing real estate valued over 1million AED. And while you can have multiple residencies, you can only claim one as your residency for tax purposes (legally anyway).