I have a Cyprus bank account and Seychelles offshore company set up now. Question

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Hello,


I have a Cyprus bank account and Seychelles offshore company set up now. And I have some questions:


1. I am doing nothing illegal as long as I keep the money I make outside of my country of residence, in the bank account of my company right? Could you tell me if I am allowed to/if it is advisable for my offshore company to buy real estate in my country of residence? Or would it be easier to spend it in another country (other then my country of residence).


2. I read somewhere that I can issue myself interest free loans and buy everything in the name of the company. Can you tell me how that works? Do I have to pay back that money?


3. I know that I can withdraw the money via debit card, but my problem is that I want to make some bigger investments in my country of residence in the future and I don't know how to do it. The other thing is that I earn more money then I can withdraw, so this way I will never be able to withdraw all the money. I am looking for a solution.


Any other kind of advice would be appreciated.

 

[JohnLocke]

1. I am doing nothing illegal as long as I keep the money I make outside of my country of residence, in the bank account of my company right?
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That will depend of the applicable laws in your country, in some there are no issues while in other countries you have to be taxed.

Could you tell me if I am allowed to/if it is advisable for my offshore company to buy real estate in my country of residence? Or would it be easier to spend it in another country (other then my country of residence)
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Depends on what exactly you would like to achieve! That said, you can at any time buy an real estate or other property through the offshore company.

2. I read somewhere that I can issue myself interest free loans and buy everything in the name of the company. Can you tell me how that works? Do I have to pay back that money?
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Yes that is true, actually we have a template for this instrument which you can buy for EUR 100 otherwise you can find it yourself. IT is totally up to you how you structure the loan, but of course a loan has to be paid back at some time... but no one can stop you from obtaining a loan that has to be paid back in maybe 80 years or 100.

3. I know that I can withdraw the money via debit card, but my problem is that I want to make some bigger investments in my country of residence in the future and I don't know how to do it. The other thing is that I earn more money then I can withdraw, so this way I will never be able to withdraw all the money. I am looking for a solution.
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If you need to withdraw a large sum of money it is advisable to use the instrument of a loan to take out the money, or, you could let the company make such investment.


It should not be a problem to withdraw the money you earn one way or another, it is just a question of how you doing it.

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If you need to withdraw a large sum of money it is advisable to use the instrument of a loan to take out the money, or, you could let the company make such investment.
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Do you have a template or sample that I may use?

 

[JohnLocke]

If you need a sample of a loan agreement simply PM me and I will send it to you. I think we also have one at our forum for public use, you may use the search field.

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