Client asking for a DUNS number for my seychelles IBC pros and cons?

[fortunespeculator]

What would be the pros and cons for getting a DUNS number for my seychelles IBC.There is a government client in Kenya which is asking for a DUNS number.I have a seychelles IBC what should i do.Would this take away all the benefits of my seychelles IBC?

Should i drop applying for this project?

 

[Garret Gates]

Mmm I don't think DUNS number can be applicable for any IBC, ad before getting this number, their KYC check real office location, company staff and etc.

 

[fortunespeculator]

Since no flights are going how are they going to check now? I cant apply for the project wothout this DUNS number

 

[fortunespeculator]

fortunespeculator said:
Since no flights are going how are they going to check now? I cant apply for the project wothout this DUNS number
Click to expand...

I also just checked now many seychelles ibcs are registered

 

[Patrickcos]

It is a simple process , you ask for your DUNS on the D&B website. It says you get it within 2 weeks but it is usually less.
It will not change the pros of your structure

 

[fortunespeculator]

Patrickcos said:
It is a simple process , you ask for your DUNS on the D&B website. It says you get it within 2 weeks but it is usually less.
It will not change the pros of your structure
Click to expand...

They are asking for a phone number in Seychelles in the appliction form

 

[Patrickcos]

fortunespeculator said:
They are asking for a phone number in Seychelles in the appliction form
Click to expand...

Give the phone number of the agent who incorporated the company for you. I never received any calls. If you prefer to do it by the book, take a virtual number, you will find a lot of providers offering this service on google.

 

[CaptK]

DUNS are free but once your on it you can never be removed.
So your personal circumstances will affect the efficiency of having one. Your nationality, residency and actual office location will be available online. I assume that the IBC was set up to mitigate your liabilities. In that case you would be opening the doors for anyone who wants to find out information on yourself and company.
If you intend on declaring to all relevant authorities then its a big step in showing credibility.
I know that African governments use this as a way to do DD. Lets be honest you can tell D&B what you want and they will post it on their site. By the time they despute it you have already won the contract and had the first instalment would have already been paid.

 

[fortunespeculator]

CaptK said:
DUNS are free but once your on it you can never be removed.
So your personal circumstances will affect the efficiency of having one. Your nationality, residency and actual office location will be available online. I assume that the IBC was set up to mitigate your liabilities. In that case you would be opening the doors for anyone who wants to find out information on yourself and company.
If you intend on declaring to all relevant authorities then its a big step in showing credibility.
I know that African governments use this as a way to do DD. Lets be honest you can tell D&B what you want and they will post it on their site. By the time they despute it you have already won the contract and had the first instalment would have already been paid.
Click to expand...

Idea was to build an active business in the It and Management Consulting domain and keep the profits tax free.And probably invest those profits in stocks and real estate.Keeping it out of the reach of my home country.

 

[JohnLocke]

Correct me if I'm wrong but don't all companies have a DUNS number in their database? For some years back I was surprised to find one of my companies to already be in their database.

The short story was this, I asked if I could get a DUN's number, after some time I got a reply that I already had one for this company.

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[CaptK]

fortunespeculator said:
Idea was to build an active business in the It and Management Consulting domain and keep the profits tax free.And probably invest those profits in stocks and real estate.Keeping it out of the reach of my home country.
Click to expand...

So some level of anonymity is required.

Then you are better off to register a local Kenyan company which basically acts as a the contracting company. Seychelles is the mother company which receives the payments and then disburses a "marketing" budget to the Kenyan company.

Both companies must have the same name.

 

[djaheim]

CaptK said:
So some level of anonymity is required.

Then you are better off to register a local Kenyan company which basically acts as a the contracting company. Seychelles is the mother company which receives the payments and then disburses a "marketing" budget to the Kenyan company.

Both companies must have the same name.
Click to expand...

This is more viable.

 

[djaheim]

There are any ways to skin this cat including a local company setup that you can use to bypass this. Do the job get paid and then invoice the local company/ contact to wire the funds to your seychelles IBC and what you do from there its up to you.

 

[manwithtoupe]

CaptK said:
DUNS are free but once your on it you can never be removed.
So your personal circumstances will affect the efficiency of having one. Your nationality, residency and actual office location will be available online. I assume that the IBC was set up to mitigate your liabilities. In that case you would be opening the doors for anyone who wants to find out information on yourself and company.
If you intend on declaring to all relevant authorities then its a big step in showing credibility.
I know that African governments use this as a way to do DD. Lets be honest you can tell D&B what you want and they will post it on their site. By the time they despute it you have already won the contract and had the first instalment would have already been paid.
Click to expand...

Where do you find nationality and residency of shareholders?

When looking up DUNS number through various online portals (including the official one), I only see the following info:

1. Company name
2. Registered address
3. Registered country
4. Phone number

I don't find any of that worrying from a privacy standpoint.

Company name, registered address and registered country should be listed in the Terms of Conditions anyway.

Phone number can be a virtual number.

Try yourself here:

UPIK®-Plattform - Bisnode.de

https://www.dnb.com/duns-number/lookup.html

SAM Webform : Search

 

[CaptK]

Governments pay for the indepth analysis and credit worthiness report. That wil have the pertaining info he is trying to hide.
He is better to register a Kenyan company as a marketing and administration entity. Therefore he bypasses all the bureaucracy. Easier to open a local bank account also.

Same name as the Seychelles company and a solid agreement to cover him between the 2. Then payments are made to the Seychelles company and also when he finishes the project any liabilities of the local company die with it.

manwithtoupe said:
Where do you find nationality and residency of shareholders?

When looking up DUNS number through various online portals (including the official one), I only see the following info:

1. Company name
2. Registered address
3. Registered country
4. Phone number

I don't find any of that worrying from a privacy standpoint.

Company name, registered address and registered country should be listed in the Terms of Conditions anyway.

Phone number can be a virtual number.

Try yourself here:

UPIK®-Plattform - Bisnode.de

https://www.dnb.com/duns-number/lookup.html

SAM Webform : Search
Click to expand...

He will need a local company eventually anyway.

This is one of my specialities in Africa. As investors want ease of doing business and ease of getting funds out.

He can PM me, we can discuss all options.

 

[fortunespeculator]

Have got the duns number finally.Well lets see how it goes?

 

[patrickj]

fortunespeculator said:
Have got the duns number finally.Well lets see how it goes?
Click to expand...

I'm in a similar situation, with a Seychelles registered company and a potential customer is requesting that I have a DUNS number. How/where did you apply for one?

 

[myhand]

You need to ask you agent that helped you with the setup of your Seychelles company, if he is unable, find a other one!

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