Guernsey company formation provider

[ilke]

Makes sense. US‍ LLC for operational also makes sense, but you can't create substance because you'd make it⁠ a US tax resident. It is a pass-through entity, so it would be less likely⁤ to trigger Monagesque PE as a company.
What do you need︁ DTAs for in this scenario?
Yes, exactly. I have gotten LU︆ corp accounts (with both Intesa and Banking Circle) for Carribean companies. Other countries are doable︇ as well, but LU is more "financially-influenced" I would say.

There are some relatively decent︈ local banks in the region too. FCIB is usable if they open an account. Make︉ sure to go through wire instructions first, a lot of them use EMIs as correspondents.︊ For example, Hamilton Reserve in Nevis have Banco Santander as a correspondent for EUR SWIFT,︋ but since they want to offer EUR SEPA too, they provide an IBAN in the︌ bank's name at Satchel in LT. Deltec Bank in the Bahamas (for some currencies) is︍ even worse - because the transaction does not go to the bank but to one︎ of their partners (I guess - Privat 3 Money Ltd. - don't know its association,️ this was listed in their Apr 23 wire instructions) which is an EMI, but with‌ an account at another EMI. So, you're receiving money with an EMI as the beneficiary,‍ which might not be ideal.

EU EMIs are also not that difficult to get for⁠ full offshore companies, especially if you're willing to pay 1-2K for an opening and a⁤ few hundred monthly.

 

[daniels27]

Thank you very much for your message. I was not aware of my tone⁣ being aggressive. I will try to watch my tone. Sorry about this and thanks for⁢ letting me know. I intended to help people here.

Correction: I once was aggressive, which︀ was in regards to this guy from Morocco asking for visa option without any real︁ info.

 

[baltic7]

The substance will be in Guernsey for example, US LLC just as︋ subsidiary of Guernsey company, because there are better Payment Gateways for USA than for offshore︌ countries. 🙂

DTAs for if in future i move to an agressive tax country (example Spain),︍ the money go through DTAs. So, less headaches.

I will check the option for LU︎ banks. Looks like a reputable jurisdiction to maintain investments. Thank you so much for information,️ it's very valuable.

Oh, i can't use EMI for business. Turnover is mid-range 7 figures.‌ Expecting go to 8 figures soon (maybe next year).

 

[ilke]

That would work. How about a US MSB that is not connected⁠ to the offshore company? MSB licenses are easy to obtain (with $5-20K to spend, depending⁤ on registration type, your involvement and effort and the state) and you'd only need 1⁣ state served since you would only onboard yourself as the client, i.e. the US MSB⁢ would be a regulated (which doesn't actually mean it does much) payment processor for the︀ offshore company. You would avoid any consequences of US substance and taxation while reaping the︁ benefits of US banking and payment processors and the 0% tax rates. There are no︂ rules against MSBs providing remittance services via payment processing solutions or to offshore companies! To︃ the US, you are still, at least for now, a non-resident alien with a FinCEN-registered︄ company.

This approach might seem a bit far-fetched, but you gain quite a lot from︅ it. Your offshore company will no longer have any requirement for transactional banking. All it︆ needs is to at some point be remitted the funds according to its payment processing︇ contract. You have little to no legal implications, yet you offer a regulated service (to︈ yourself). 😎 The only thing you will then need is for the offshore entity to send︉ you and whatever employee payments and potentially invest its money (it doesn't really matter, but︊ it makes the banks happy). Banks would rather onboard the "holding" of a Monagesque citizen︋ that will only receive payments once in a while (and from the US) and sends︌ a couple payments to individuals while making the money some nice fees on basic investments︍ (why not?). The largest potential issue would be the fact that the US company would︎ be holding the funds for some time, which a remittance provider is not supposed to️ do. But, if you find a bank for the offshore business that would not be‌ so monkey-like as to just want to collect fees on investments, you would not necessarily‍ experience an issue with releasing the funds.

Based on the general laws regarding MSBs in⁠ the US, this should be an applicable setup. In practice, I would say it is⁤ an achievable task, but definitely requires consultation with some lawyers.
Makes sense, but I would never do that.︀ Never lived in one, hopefully never will live in one (and I'd sacrifice my EUSSR︁ citizenship if it meant paying taxes regardless of my residence, something like in the US).︂
Yes, they do a good job for corporate banking. I presume you can keep your︅ individual wealth in Monaco, I have not worked with the banks there. I have experience︆ with LI, LU, CH - MC is on a different level for me maybe -︇ I'm not a fan of spending much money on generic living costs.
There are still definitely EMIs that can︉ handle such a scale, but far from an abundance. Good EMIs are scarce, but that︊ does not mean they can't serve large-scale businesses.

EDIT: Also, I forgot to mention, whether︋ you consider Guernsey or the BVI, Vistra will still probably be the best for this.︌ I was checking some of my past communications there, where I also found that they︍ assist with creating full substance in both of these countries after corporate registration. In that︎ case, maybe you would not struggle as much with finding suitable employment options there. In️ addition, they also offer directorship services with people involved in a specific space - it‌ can be of additional benefit.

 

[John M]

Guenrsey will trigger the tax authorities in the countryes where the payments are made from,‌ as it is perceived as “offshore/ fiscal paradise” jurisdiction.
Why not use an UK company?‍

 

[baltic7]

In UK are high taxes.

 

[alley]

Why you want to prefer BVI‍ over Guernsey?

 

[daniels27]

I think the advantage of BVI is that the registration is comparatively easier for active‌ companies, while in Guernsey only a handful of CSPs are willing to work with such‍ companies. Accounting in BVI is also easier as there are no audit and certified account⁠ requirements.

On the other hand, the reputation is levels lower and access to EMIs also⁤ suffers a lot.

In terms of employees, I think in both places you can only⁣ rely on your own dispatched staff.

What do you think?

 

[saponaire]

@baltic7 what was your resolution?