Any reason NOT to incorporate in Belize? (For 100% online business.)

[electric]

Hello,


I'm considering to create an IBC in Belize for my online internet business. I would get a corporate bank account and a merchant account associated with it.


What I am looking for is anonymity and secrecy from North American and European governments. I do not want to be linked or associated as a beneficial owner or director or shareholder of the company.


I will work for the offshore company as an operations manager and then the company will pay me a salary which I will declare and pay local personal income tax on.


- All my customers are in Europe and USA/Canada. They don't care where my company is located. As long as they can pay by credit card or Paypal, then they are happy.


- I have both France and Canada passport. At the moment I am living in Europe (not France), but I might move to Canada or the USA in a few years.


- The company does about $250k gross sales. So it's not a huge business. I just want to save a little on corporate taxes. 🙂


- The most important thing is to get a good merchant account that doesn't cost a fortune. The business currently has a 0.01% chargeback rate with my onshore processor.


What do you think? Is Belize ok for this?


EDIT: Just to clarify.. I am still trying to decide between Seychelles and Belize. They both seem to offer the same level of privacy, since neither country requires directors or shareholders to be publicly listed. Is there any particular reason to pick Seychelles instead of Belize? Let me know if more info is needed.

Last edited by a moderator: Apr 22, 2013

 

[JohnLocke]

Well, it seems at least that it is easier to open a merchant account for‌ a Belize company compared to a Seychelles corp. Exception is if you can make use‍ of 2co.com, they accept Seychelles corps. which I think offer a better level of privacy⁠ compared to Belize.

 

[electric]

Can you explain this a bit more? From what I can‍ see, neither country has a public registry of shareholders or directors. Why is Seychelles considered⁠ better privacy?
Thanks!

 

[Zqq]

Privacy goes beyond public registries. Belize has signed more TIEAs than Seychelles.

Exchange of Information‌ Portal

Exchange of Information Portal

However, SecrecyJurisdictions.com gives Belize a score of 90 and the‍ Seychelles a score of 88.

German state buys data on secret Swiss bank accounts of⁠ thousands of alleged tax cheats - The Washington Post

German state buys data on secret⁤ Swiss bank accounts of thousands of alleged tax cheats - The Washington Post

To get⁣ a complete understanding, you may want to consider reading the IBC laws, and any other⁢ relevant legislation, of both jurisdictions to see how they are different. Better yet would be︀ to find a legal expert familiar with both jurisdictions.

 

[electric]

Any suggestions? I'm willing to pay for consultation, of course. 🙂

 

[Zqq]

Not that I can mention here, I'm afraid, for a number of reasons. But you‌ can find a couple if you search for law firms specializing in tax planning and‍ tax advice.