Company and bank account formation

[FarFarAway]

Hello dear friends.


First of all sorry on my bad English. Im need help.


I would like to set up offshore company and bakning account.


Im need to be anonymous as much is posible. What is the best option for me, maybe Seychelles? When I open offshore banking account how I associate them with my company? Is there any bank which give to me option of secoure e banking? And final questions: When open bank account can i put deposit on that account via Western Union payment method? Can I later send this money to my resident contry ( Europre ) via Western Union, and when sending money from company account is there option to isntead of name of person who send money be name of company? And final q: is there any chanse to someone ask me from where coming money on my bank account? Thank you friends, thank you a lot! :hello:

 

[Zqq]

There is no easy answer to the question regarding what jurisdiction is the best for you. The Seychelles, Belize, BVI, and other IBC jurisdictions are more or less the same in terms of anonymity. Your name does not appear on any public records.


I'm not sure I understand what you mean by "associate [the bank] with your company". To open an bank account for your company, you provide them all the company documentation and apply for a business/company/corporate account.


You cannot deposit by Western Union to any bank. The initial deposit is checked quite closely and should originate from a director's personal account or a related company's corporate bank account.


As for your last question, there is always a risk involved and it is up to you to not talk to anyone about your offshore bank account and company. Furthermore, it may be wise to form your company and open the bank account in jurisdictions with which your country does not have any TIEA (tax information exchange agreement). You can usually find a list of these on your government's website or by asking your tax authority.

 

[FarFarAway]

So when my company have bank account, I cant put 10 euros ( Example ) via Western Union, or send money from bank account to someone third? How I will send/receive money? And when I register company on Seychelles ( example ) do I need to have an office there?

Last edited by a moderator: Jan 13, 2013

 

[Zqq]

FarFarAway said:
So when my company have bank account, I cant put 10 euros ( Example ) via Western Union
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Correct. This will not work.

FarFarAway said:
or send money from bank account to someone third?
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This may work, but I wouldn't recommend it. In some cases, the offshore service provider (OSP) you use may allow you to pay the initial deposit to the bank via them. Other than that, using intermediaries is not recommended. The bank opened an account for you and your company, not third parties. (Exceptions are of course made for bankwires coming from PayPal and other payment service providers.)

FarFarAway said:
How I will send/receive money?
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Like a normal bank? I'm not sure I understand this question.

FarFarAway said:
And when I register company on Seychelles ( example ) do I need to have an office there?
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Yes, but this is provided by your OSP. It's called registered office.

 

[FarFarAway]

Example: I need to receive 10 euros from maybe 10 people from europe? How to do that?

 

[Zqq]

In that case, they send a regular bank transfer to your company account.


If you want your customers to use Western Union, you must collect the money yourself (or use a third-party, which isn't recommended), and then transfer the money to the offshore bank.

 

[FarFarAway]

This is called "wire" transfer and takes 2-3 days? Is it same sa IBAN transfer? And when I have money on company account how I sent this money to myself in europe? Why banks give e banking if I cant sent money or receive it? And when people sent money can instead of name of receptionist be written name of company? So theorecaly, when I have 50.000e on company account, what I can do with that money? Do I have to be physically present to bank to get this money in my pocket ? Thank you 😀


EDIT:


If i collect IE 50.000e on companys bank account, will bank ask me from where comming my money?


Can I transfer money regulary between few offshore companies in different countries or between my offshore company bank account and my personal offshore bank acount?


Does offshore merchant account support Western Union?

Last edited by a moderator: Jan 13, 2013

 

[Zqq]

FarFarAway said:
This is called "wire" transfer and takes 2-3 days? Is it same sa IBAN transfer?
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Yes and no. I don't know what language you speak, but if "IBAN transfer" is the same as international bank transfer or bankwire, sure. Note that IBAN is quite rare outside of Europe. You usually use the SWIFT BIC and account number.

FarFarAway said:
And when I have money on company account how I sent this money to myself in europe?
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You don't. Unless you plan to declare the funds to the tax authorities, bank transfer to your local bank account is extremely high risk. You need secure structure which separates the incoming money from any tax liability unto you. A common solution is to use no-name prepaid cards. This is effectively money laundering, though.

FarFarAway said:
And when people sent money can instead of name of receptionist be written name of company?
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The recipient is your company's name.

FarFarAway said:
So theorecaly, when I have 50.000e on company account, what I can do with that money? Do I have to be physically present to bank to get this money in my pocket ? Thank you 😀
EDIT:


If i collect IE 50.000e on companys bank account, will bank ask me from where comming my money?
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You can invest the money back into your company and use to pay for the company's expenses. If you ever want to transfer money from offshore to onshore (where you live), you have three options:


1. Accept a high risk that the tax authorities will ask questions.


2. Use a zero-tax or low-tax structure that allows you to receive the money without too many questions. A common solution is a loan.


3. Withdraw money anonymously, using a prepaid card.


In short: This is either money laundering or something for which you need professional advice. Book a meeting with a qualified professional.

FarFarAway said:
Can I transfer money regulary between few offshore companies in different countries or between my offshore company bank account and my personal offshore bank acount?
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You can but it's not recommended. If the tax authorities see a lot of wire transfers between you and a bank in for example Cyprus or Belize, they will ask questions.

FarFarAway said:
Does offshore merchant account support Western Union?
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No. No one accepts Western Union on your behalf.

 

[FarFarAway]

Thank you on yor patience. Can my offshore company became partner in some business with my onshore company ( company in my resident country ) without any signature? I live in Serbia/Croatia. Can you point me on some literature with topic about i ask questions. Will offshore bank give to me noname card? How do you mean I can invest money back into my company?


If authorities in Croatia/Serbia suspect that Im runing some kind of criminal activity, will Seychelles provide all data about my business to them? This is just theoretical question...


Can you tell me is Swiss good option? Is data about company owner and other data availabe to public in Swiss? Does their offshore banks support WU and e banking? Will they provede to me noname card?

Last edited by a moderator: Jan 13, 2013

 

[Zqq]

FarFarAway said:
Can my offshore company became partner in some business with my onshore company ( company in my resident country ) without any signature? I live in Serbia/Croatia. Can you point me on some literature with topic about i ask questions.
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I cannot answer this as I am not familiar with Serbian or Croatian law. However, based on my experience with other countries - yes, it is sometimes and in some jurisdictions possible for an offshore company to own shares or otherwise do business in an "onshore" jurisdiction without revealing the name of the company owner.


You should check this with a lawyer.

FarFarAway said:
Will offshore bank give to me noname card?
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Some banks issue such cards, especially in Cyprus (FBME and Hellenic Bank in Cyprus, for example) and the Caribbean, including Panama and Belize.

FarFarAway said:
How do you mean I can invest money back into my company?
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Use the money you earn from your company to expand or grow the company.

FarFarAway said:
If authorities in Croatia/Serbia suspect that Im runing some kind of criminal activity, will Seychelles provide all data about my business to them? This is just theoretical question...
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As far as I can see, Serbia and Croatia do not have TIEA with the Seychelles. As long as your only crime is tax evasion, you should be fine. If, however, you are involved in narcotics, fraud, or other crimes, the Seychelles may be forced to disclose your identity.


It's a legal labyrinth. Again - consider talking to a lawyer.

FarFarAway said:
Can you tell me is Swiss good option? Is data about company owner and other data availabe to public in Swiss?
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Information about company owner is on public record in Switzerland.

FarFarAway said:
Does their offshore banks support WU and e banking?
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No bank in the entire world accepts Western Union. All Swiss banks have internet banking/e-banking.

 

[FarFarAway]

OK I have e banking just to see how much money I have on account? Can I send money via e banking to Croatia or Serbia on my banking accont? Can I be paid in Serbia/Croatia from my offshore company example for consulting in internet technologies? And how I will know how to pay tax ( if i need to pay ) or other company bills? Will I be notified via mail or how? Do i have to be present physically to open company or I can do that via mail? And what is with office, do i need to have registered one real office or i can use virtual? THANK YOU

Last edited by a moderator: Jan 13, 2013

 

[Zqq]

FarFarAway said:
OK I have e banking just to see how much money I have on account? Can I send money via e banking to Croatia or Serbia on my banking accont?
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Yes, you can send money to and from Croatia and Serbia.

FarFarAway said:
Can I be paid in Serbia/Croatia from my offshore company example for consulting in internet technologies?
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Yes, but you may have to explain to the Serbian or Croatian tax authorities where the money is coming from and pay tax in Serbia and/or Croatia.

FarFarAway said:
And how I will know how to pay tax ( if i need to pay ) or other company bills? Will I be notified via mail or how? Do i have to be present physically to open company or I can do that via mail? And what is with office, do i need to have registered one real office or i can use virtual? THANK YOU
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In most cases, your offshore service provider will take care of all of that for you. They will send you an invoice which includes all of their fees and governmental yearly fee. Offshore companies in the Seychelles pay no tax, instead they pay a small annual fee of 100 USD.


You do not need to visit the country in person. Everything is done by post and e-mail.

 

[FarFarAway]

I need to have about 100 payments on offshore banking account for different reasons, what is the best option for me? Payment will bee no more than 15 euros each. Do I need to open real office or I can open virtual one ?

 

[Zqq]

It will not be worthwhile for you to accept 100 payments of 15 EUR each. Many offshore banks charge between 5 and 10 EUR (sometimes more) for incoming transfers. Look into using something like PayPal, 2CheckOut, or other payment gateway to consolidate your payments into one monthly/periodical settlement.

FarFarAway said:
Do I need to open real office or I can open virtual one ?
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The offshore service provider will provide you with a registered office and address. You can run your company from anywhere.

 

[FarFarAway]

Is it legal to send money by mail? This is virtual office or real office? Who will work in that office, what if I dont want one? If I open company on Seychelles I can also open offshore bank account on Cypruss in Hellenic bank ( example ) and get noname card and get money in my country via cash machine? How I will transfer money from Seychelles bank to Cyprus bank account? Via e banking or how?

Last edited by a moderator: Jan 14, 2013

 

[Zqq]

In most cases, yes. Some countries apply restrictions on export of its currency.

 

[FarFarAway]

Wait, I edited post. What do you mean under that? I cant without many questions do action in post before?

 

[Zqq]

As mentioned, some countries restrict the export of its currency. I'm not aware of Croatia and Serbia doing it. As long as you send EUR/USD/GBP/CHF or some other major currency it won't be a problem to send it by post. Keep in mind that cash sent my post tends to "disappear."

FarFarAway said:
This is virtual office or real office? Who will work in that office, what if I dont want one?
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It's a real office but you do not work there. It is a legal requirement to have one.

FarFarAway said:
If I open company on Seychelles I can also open offshore bank account on Cypruss in Hellenic bank ( example ) and get noname card and get money in my country via cash machine?
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Yes.

FarFarAway said:
How I will transfer money from Seychelles bank to Cyprus bank account? Via e banking or how?
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E-bank.

 

[FarFarAway]

Is there any official place to do all of that, I dont like agents? I wont have any problems with money transfers between Seychells and Cyprus, will I have questions on Cyprus from where my money comming? Is all money transfer in real time without lag ( example: 2-3 days ) If someone send me mail on office in Seychelles, will that mail be forwarded to my home, what is with letter that need to be signed when received? Will someone sign for that envelope and forward it to me? Thank you a lot <3


EDIT: Who will be in my "office", who will work there? Sorry on dumb questions, but I really need help.

Last edited by a moderator: Jan 14, 2013

 

[Zqq]

FarFarAway said:
Is there any official place to do all of that, I dont like agents?
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As far as the Seychelles are concerned, you can verify the offshore service provider on SIBA: Seychelles International Business Authority: List of International Corporate Service Providers Some companies are resellers, such as CC Logic. While CC Logic themselves do not appear on the SIBA list, their partner should.


Unless you have your own office in the Seychelles, your only option is use an agent.

FarFarAway said:
will I have questions on Cyprus from where my money comming?
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Very rarely. They might ask a couple of questions sometimes, but usually it's very smooth.

FarFarAway said:
Is all money transfer in real time without lag ( example: 2-3 days )
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That depends on the banks. Banking in the Seychelles is not recommended. The banks can be extremely slow and the customer service is bad.

FarFarAway said:
If someone send me mail on office in Seychelles, will that mail be forwarded to my home, what is with letter that need to be signed when received? Will someone sign for that envelope and forward it to me?
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Yes and no. It's a service you usually have to pay extra for, but most offshore service providers (OSPs) offer it.

FarFarAway said:
EDIT: Who will be in my "office", who will work there?
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The office is used by the offshore service provider. It's usually just between one and three people working there. All they do is maintain offshore companies.

Last edited by a moderator: Jan 14, 2013