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BVI blacklist

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sebminblow

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Jul 7, 2022
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Hi ,
i heard that BVI in now under the blacklist in EU from today ,

i have a question :

in case a company in BVI has a sole ubo and director which is a resident in EU and tax payer in EU
the BVI company bank account is in Liechtenstein

will the owner will be able to withdrawals dividends from the BVI company normally to his EU bank account ?

thank you for your help in advance
 
Correct it is now on EU blacklist.

https://taxation-customs.ec.europa.eu/common-eu-list-third-country-jurisdictions-tax-purposes_en

Yes as long as EU bank does⁣ not get cold feet. However most EU banks will just choose to limit business or⁢ even terminate business as the extra checks they have to do may not be worth︀ the effort or their internal policy may just bar blacklisted countries. See below for what︁ the EU black listing means.

P.S EU blacklisting is not that powerful or respected outside︂ EU. Its pretty much there to stop EU money going through those countries and its︃ institutions.

---- quote start

What sanctions apply to the blacklisted countries?

The EU list has︄ a real impact, as a result of both EU and national measures applied to blacklisted︅ countries. First, the EU list is linked to EU funding under specific provisions in the︆ Financial Regulation and in the European Fund for Sustainable Development (EFSD), the European Fund for︇ Strategic Investment (EFSI) and the External Lending Mandate (ELM). Funds from these instruments cannot be︈ channelled through entities in listed countries. Direct investment in these countries (i.e. funding for projects︉ on the ground) is still allowed, to preserve development and sustainability objectives.

Second, there is︊ a direct link to the EU list in other relevant EU legislation. For example, under︋ the EU transparency requirements for intermediaries, a tax scheme routed through an EU listed country︌ is automatically reportable to tax authorities. Countries on the EU list of non-cooperative tax jurisdictions︍ are also prioritised for screening in the process for drawing up the EU's anti-money laundering︎ list. The public Country-by-Country reporting proposal also includes stricter reporting requirements for multinationals with activities️ in listed jurisdictions. The Commission is examining legislation in other policy areas, to see where‌ further consequences for listed countries can be introduced.

In addition to the EU provisions, Member‍ States have agreed on sanctions to apply at national level against the listed jurisdictions. These⁠ include measures such as increased monitoring and audits, withholding taxes, special documentation requirements and anti-abuse⁤ provisions.

--- quote end
 
Interesting, how now EU banks will consider transactions of BVI companies? For example, a BVI‌ company from its Cyprus bank account wants to pay to an EU company, or wants‍ to pay to an UAE company.
 
BVI Company with Cyprus⁠ Bank Accounts in 2023?

I don't believe in this story - sorry.

More likely all⁤ the high risk laundromat EMI's in the UK and Lithuania rate you now as high⁣ risk and charge you 500 EUR per month instead of 250 EUR.
 
I got the same opinion. But EMI's are anything⁤ than good laundromats they are laundromats for their owners but not for their clients. Due⁣ they close down any accounts at anytime mostly even faster than Paypal.

You seems to stand⁢ on the wrong side of the fence.

But there are two ladders I use and︀ some of my associates for more than a decade now:
  1. The cyrpto exchangers: When somebody︁ wants to send you a wire/swift/iban transaction buy cryptos of the same value on an︂ exchange and give him the wire/swift/iban-transaction details of the crypto-seller. All crypto exchangers have escrow,︃ so no risk to get scammed. Be sure that the money goes directly to the︄ private crypto-sellers bank account and NOT to a bank-account of the exchange (due these could︅ fail at anytime like FTX). When your clients have sent the money you receive the︆ equal amount in cryptos as payment. Suitable for small and larger volumes.
  2. The online casinos:︇ When somebody wants to send you a wire/swift/iban transaction buy virtual online casino chips and︈ give him the wire/swift/iban-transaction details of the casino. Play a little bit with the money︉ and initiate a payout via crypto. Suitable for smaller volumes below 1000$.
 
Don't take everything too seriously 🙂 I just wanted to support @Fred's joke about‍ calling the UK/Baltic EMIs laundromats 🙂 It is obvious that those EMIs are laundromats just for⁠ the owners and their close circle.
 
It doesn't change that much, BVI‍ is and always will remain a red flag in Europe. Only being black listed, banks⁠ will be be even more stringent to any transfers from and to BVI and government⁤ tax filings in some countries shall include all transfers from and to this BVI, which⁣ is a guaranteed visit from tax authorities
 
A good reason why you want to orm it with fully⁣ anonymous nominee services and not in your personal name, check mentor group gold for more⁢ info if you are uncertain about how to go about it.

it was a joke!
 
Most of the︇ binance P2P sellers and casinos check that the transfer comes from the same name as︈ the account holder.

How did this worked for you?
 
Hello, well this approach worked about 5 years ago. Since then I never tried it‌ again.
It is possible that more and more exchanges check the owner of the Sender-Accounts‍ right now.
 
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