Looking for professional Seychelles IBC Service Provider

[piratechain]

I have an existing Seychelles IBC for already a year.

Not satisfied with my current service provider to manage the Seychelles IBC, get me updated documents and so on.

Looking for an professional alternative with a good reputation where not all responsibility and work relies on 1 person in the end.

 

[JohnLocke]

You May try Seychellesoffhsore.com they are good and easy to work with. At least it was like this a few years ago.

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Disclaimer: Nothing I say should be taken as tax, legal or financial advice. Anything I say is for general informational purposes only. Always seek independent professional advice.​

 

[boomy]

+1 for Seychellesoffshore - have made a few companies with them.

 

[Sols]

Check Fiduciary

Vistra, Appleby, OCRA, Trident, Icaza, Quijano, and Fidelity are some reputable/popular providers licensed in Seychelles.

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This is the probably the answer to your question.

 

[piratechain]

Very helpful. Thanks

 

[piratechain]

Follow-up Question:

1. A nominee Director does not need to live in the Seychelles, right?

I can appoint someone that i can trust?

2. I have a tax residency in Cyprus and get dividens from my Seychelles company. (Thats the sole purpose)

What is the updated criteria that i should meet to have a set-up that is longlasting and follows the rules that i should meet regarding Seychelles law and Cyprus law for getting the dividends?

I have:
-Reg. Agent & Reg. Office
-Nominee Director (Which Salary should the person get on a monthly basis and should it happen from the Seychelles bak account?)
-Do i need a real office adress or is a virtual office sufficient?

Did i forgot something?

I know thart building real substance is something that i wont probably get around at some point and i am willing to do, if possible from next year.

For now i want to review my Seychelles Set-up do everything according to the current templates.

 

[Sols]

piratechain said:
1. A nominee Director does not need to live in the Seychelles, right?
Click to expand...

Correct.

piratechain said:
I can appoint someone that i can trust?
Click to expand...

Yes.

piratechain said:
2. I have a tax residency in Cyprus and get dividens from my Seychelles company. (Thats the sole purpose)

What is the updated criteria that i should meet to have a set-up that is longlasting and follows the rules that i should meet regarding Seychelles law and Cyprus law for getting the dividends?
Click to expand...

Long-lasting is hard to say. Cyprus currently doesn't do much to enforce tax residence of foreign companies owned/controlled by residents. So you can probably get dividends from your Seychelles company without anyone bothering you. If Cyprus' attitude changes (which seems very unlikely), it could be argued your Seychelles company should be paying Cypriot corporate income tax and that your director is just a sham director. Those kind of rulings are quite common elsewhere but AFAIK practically never happens in Cyprus.

piratechain said:
-Nominee Director (Which Salary should the person get on a monthly basis and should it happen from the Seychelles bak account?)
Click to expand...

I wouldn't worry too much about this. If it gets to the point where the remuneration of the director is put into question, your adversary is probably also asking you to prove that the director is a bonafide director (taking decisions, controlling bank account, signing agreements, and day to day steering the company).

Nominee directors usually cost one or a few thousand USD/EUR per year. If you want to pay more, that's up to you.

piratechain said:
-Do i need a real office adress or is a virtual office sufficient?
Click to expand...

Same as above. If a tax authority is questioning you about substance, there are probably bigger things to worry about. That said, a real office carries more weight than a virtual office.

piratechain said:
For now i want to review my Seychelles Set-up do everything according to the current templates.
Click to expand...

Speak with a Cypriot lawyer for more precise guidance. Someone like @CyprusLaw or @CyprusLawyer101 for example.

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This is the probably the answer to your question.

 

[piratechain]

Thanks a lot @Sols for the detailed answer!

Buying Mentor Group Gold was already worth is for this thread only😀

 

[piratechain]

@CyprusLaw @CyprusLawyer101

Whats your opinion?

 

[CyprusLawyer101]

Your actual operation is a major factor to determine the level and type of substance which you pursue.

 

[piratechain]

Thanks for your reply.

Business is generated over a US LLC which is Single Manager Managed from a Person which is a perpetual traveller and does not have a Cyprus Tax residency.

All costs are paid over the US LLC. The Seychelles company invoices the US LLC for a service and the Seychelles Company distributes dividends to 2 Cyprus Tax residents who are the only Shareholders of a Cyprus Company. 1 of them is also the Director.

When the Cyprus Company needs Money for its operation it would invoice the Seychelles Company or get a shareholder contribution from its Shareholders (whatever is better?)

Any more clarity needed?

 

[CyprusLawyer101]

What type of service does the Seychelles company provide and who is actually providing that service ?

 

[piratechain]

Seychelles sole purpose is the distribution of dividends to the 2 Cyprus Shareholders. There is no actual Buisness activity besides that.

 

[piratechain]

I found out today by looking again through the documents that i received through forming the company that my ICSP is A.C. Management Limited.

The German guy who was forming the company and who is not replying to me since January was my only contact until now.

Does anyone has good experience with A.C. Management Limited, as i would now try to communicate with them directly.

 

[CyprusLawyer101]

piratechain said:
I found out today by looking again through the documents that i received through forming the company that my ICSP is A.C. Management Limited.

The German guy who was forming the company and who is not replying to me since January was my only contact until now.

Does anyone has good experience with A.C. Management Limited, as i would now try to communicate with them directly.
Click to expand...

You may encounter problems contacting the agent directly as they may only accept instructions from your service provider.

 

[piratechain]

Ok i see thank you.

And if i would have problems i better change the agent?

Will that be easily possible?

 

[CyprusLawyer101]

piratechain said:
Ok i see thank you.

And if i would have problems i better change the agent?

Will that be easily possible?
Click to expand...

First you should establish a corrext basis for communication. Only then can you do transfer outs to a new agent etc.

 

[piratechain]

FYI Appleby replied to my request:
"We only service our institutional clients in Seychelles and our fees are USD10,000 per annum. We don't provide bank account services." 😀

 

[Sols]

piratechain said:
FYI Appleby replied to my request:
"We only service our institutional clients in Seychelles and our fees are USD10,000 per annum. We don't provide bank account services." 😀
Click to expand...

That's a lot more than I remembered. Appleby is great if you need complex solutions and services (multinational company). They used to be quite a bit cheaper than that, though.

Plenty of good options left, fortunately.

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This is the probably the answer to your question.

 

[piratechain]

Renewal 2023: 1200$

Government fees

Administrative fees

Registered agent and office

Late penalty fees and taxes

Is that fair?

+ 500$ for the change of director?

How would you go about that?

I did not receive a reply from my "professional intermidiary" since January to my questions and neither to where and how to pay the renewal fee at all. Now i work directly with the registered Agent but they charge me a late penalty fee.

As i found out up to 90 days its just 10%, so probably somewhere between 10-100$ is the late penalty fee, small amount overall but how would you go about that?