Closing IBC Structure
- Thread starter dxbkk
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In Seychelles and Belize, you can simply not pay the fees and the companies will be struck off due to non-payment.
In Cyprus, you can file the documents to close the company yourself.
17k is just.....let me put it this way - some service providers really don't seem to know how pricing works.
In Cyprus, you can file the documents to close the company yourself.
17k is just.....let me put it this way - some service providers really don't seem to know how pricing works.
So far I have not seen anyone getting trouble with just avoiding to renew a company and let it go. I have personally done that many times and never heard a single word from any authority.
If I was you I would let it go and just ignore the service provider. Most of these providers are pretty much in troubles because the industry is not︀ what it was used to be for just a year ago. Now they try to︁ get the last pennies out of all the clients that give up their companies.
You can Google Search the forum for more information, we already had this topic here a︂ few times before.
If I was you I would let it go and just ignore the service provider. Most of these providers are pretty much in troubles because the industry is not︀ what it was used to be for just a year ago. Now they try to︁ get the last pennies out of all the clients that give up their companies.
You can Google Search the forum for more information, we already had this topic here a︂ few times before.
Seychelles and Belize - just stop paying a renewal fees.
Cyprus? This is something else. Cyprus will not strike off your company just for not paying a fees. There are some legal obligations which you have to fulfill. It is not just about filling one paper ase Admin wrote, here. Cyprus is very strict about all formalities. If you will just stop paying and stop answering, the best case is just to be blacklisted in Cyprus and maybe in all EU for the business for a next 10 years. The worst scenario is, that not fulfilling a formal obligations is a criminal offence. And cyprus︀ authorities can issue arrest warant after some time. But to be honest, I never seen︁ such case. They usualy just blacklist you. And all EU countries has a common blacklist.︂ If you will want to incorporate a company in any EU country in a next︃ 10 years, it will be not possible. And you will be not able to travel︄ to the Cyprus for next 10 years.
Usual costs of closing a structure: Belize and︅ Seychelles - less than 1000 USD each.
Cyprus - 5000-8000 Eur. Depends on many factors.︆
It can not cost more than 10K in total.
Cyprus? This is something else. Cyprus will not strike off your company just for not paying a fees. There are some legal obligations which you have to fulfill. It is not just about filling one paper ase Admin wrote, here. Cyprus is very strict about all formalities. If you will just stop paying and stop answering, the best case is just to be blacklisted in Cyprus and maybe in all EU for the business for a next 10 years. The worst scenario is, that not fulfilling a formal obligations is a criminal offence. And cyprus︀ authorities can issue arrest warant after some time. But to be honest, I never seen︁ such case. They usualy just blacklist you. And all EU countries has a common blacklist.︂ If you will want to incorporate a company in any EU country in a next︃ 10 years, it will be not possible. And you will be not able to travel︄ to the Cyprus for next 10 years.
Usual costs of closing a structure: Belize and︅ Seychelles - less than 1000 USD each.
Cyprus - 5000-8000 Eur. Depends on many factors.︆
It can not cost more than 10K in total.
Cyprus law required registered agent to know details of UBOs and have certified copies of their IDs. It is very easy for cypriotic authorities to know how is behind. Cyprus is just a small island. It takes them less than hour to visit office of any registered agent and have a complete copy of a file.
European blacklist check is done automaticaly︀ by all european authorities. In the most countries, this authorities are courts. They will just︁ not tell you. But if you read business law of the european countries carefully, you︂ will find a lot of details about it.
European blacklist check is done automaticaly︀ by all european authorities. In the most countries, this authorities are courts. They will just︁ not tell you. But if you read business law of the european countries carefully, you︂ will find a lot of details about it.
Are there any changes in Belize & Seychelles IBC? The agents are getting crazy with $5k fees to close the company. Is it safe to just abandon and wait for strike off?
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