Most trustworthy provider for Seychelles Foundation? And where to have IBC?

[freelife]

A Seychelles Foundation looks like what I want for asset protection and anonimity (without doing anything illegal such as darks)

However, how can you make sure you trust the councilors? What if they refuse to pay out the money?

Does anyone have experience with a good service in Seychelles for making a Foundation?

And where would be the best country for the IBC that the Foundation owns? Is Seychelles the only IBC with true zero tax now?

Sorry for so many questions, thanks in advance for any help

 

[Martin Everson]

Have a word with TurnerLittle as they have been around for ever and offer Foundation services. The whole Foundation setup can get pricey and tricky and I am not sure you really need one in Seychelles as there are other locations that can be just as good tax and privacy wise.

P.S If you explain what you are trying to achieve, what the assets are i.e banked or unbanked assets perhaps I could explain a bit more.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[freelife]

Thanks for the really fast reply. I saw Turner Little they look good, but have really been around for as long as they claim?

I want the Foundation to hold shares in an IBC that will be a holding company that will itself then hold shares in at least 2 other companies that I am involved in (online companies).

The point of this is that I want to protect my shares in the companies and the dividends I receive from being vulnerable in my personal estate, as well as for privacy reasons.

As the foundation will hold so many assets (cash) and shares this is why I want to make sure I can really trust the people I use to set it up and administrate it.

If it is posssible I would also like the foundation to invest in real estate etc as well rather than doing it in my own name.

I heard OCRA have the best reputation but are really expensive is that true?

Grateful for any further advice you can give

Last edited: Oct 31, 2020

 

[Martin Everson]

freelife said:
Thanks for the really fast reply. I saw Turner Little they look good, but have really been around for as long as they claim?
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Yes they have been around since 1998. I have used them way back in the day.

freelife said:
The point of this is that I want to protect my shares in the companies and the dividends I receive from being vulnerable in my personal estate, as well as for privacy reasons.
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Issue today is once you go out of EU or the west with a setup it becomes unbankable and high risk to banks and EMI's. This limits the onshore banks your onshore companies can continue to work with once the banks examine the ownership structure and see the parent company is a Foundation in Seychelles. You may want to really consider setting up Dutch STAK instead.

freelife said:
As the foundation will hold so many assets (cash) and shares this is why I want to make sure I can really trust the people I use to set it up and administrate it.
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I see.

freelife said:
I heard OCRA have the best reputation but are really expensive is that true?
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Yes OCRA is one of the biggest and 100% trust worthy also. I actually used to work for them at one point.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[freelife]

Thanks for all the information and about the STAK too I was not aware of that. I have a few more questions I hope it's OK

With a STAK it looks like the registry of UBOs is coming soon though, so it won't offer privacy is that right? Or perhaps the UBOs will be directors etc and not me?

Also does the STAK offer protection from creditors?

One of the companies will be onshore, but the foundation will only hold 20% of the shares in that, not enough to be UBO, I don't think the banks for that company will mind? Or will they?

The other company the foundation will be 80-90% owner of will be an offshore IBC anyway.

I am concerned though later on when wanting to use the money in the west, will banks accept funds that come from a Seychelles Foundation? If not then I will have to look at something like a STAK, if you have any other ideas for asset protection Foundations in the west please let me know, thanks a lot Martin.


I am really new here, but if it's possible somehow to tip you on this forum!

Last edited: Nov 2, 2020

 

[Martin Everson]

freelife said:
With a STAK it looks like the registry of UBOs is coming soon though, so it won't offer privacy is that right? Or perhaps the UBOs will be directors etc and not me?
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You will always be UBO and show up in an register.

freelife said:
Also does the STAK offer protection from creditors?
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That's one of the point of such a setup is to avoid challenges by thirdparties.

freelife said:
One of the companies will be onshore, but the foundation will only hold 20% of the shares in that, not enough to be UBO, I don't think the banks for that company will mind? Or will they?
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They will.

freelife said:
I am concerned though later on when wanting to use the money in the west, will banks accept funds that come from a Seychelles Foundation?
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Most will not for sure.

freelife said:
if you have any other ideas for asset protection Foundations in the west please let me know
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Today most people go with a provider that has its own in-house bank and hence can setup, administer and bank such structures easily. If you want someone trusted and have the money go to Amicorp. They will literally do everything in-house and have their own bank etc.

https://www.amicorp.com

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[boomy]

Martin Everson said:
Yes OCRA is one of the biggest and 100% trust worthy also. I actually used to work for them at one point.
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how should we understand that, did you work in their office or just a reseller?

 

[Martin Everson]

boomy said:
how should we understand that, did you work in their office or just a reseller?
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Sorry let me clarify. I was an agent reseller or whatever they call it now. When I had my company I used to send most of the business through them. I was never directly employed by them so let me mae that clear in case I mislead anyone. They were very good 10 years ago when I worked with them but world is a different place today and I have not done business with them since as I sold company. However from what I have been told they now turn down a lot of business due to AML issues. They know certain structures they cannot bank any longer. Hence its best to go with an alternative like AMICorp that can do the structure and banking inhouse.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[lostguy]

freelife said:
Thanks for the really fast reply. I saw Turner Little they look good, but have really been around for as long as they claim?
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they have, no fluff there. I would recommend you to get a hold on one of them by Phone, they are horrible slow by email!

Martin Everson said:
Hence its best to go with an alternative like AMICorp that can do the structure and banking inhouse.
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two years gone,,, do you think still the same about
https://www.amicorp.com/

 

[Martin Everson]

lostguy said:
two years gone,,, do you think still the same about
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Yes

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[lostguy]

Great, will have to look into the provider of these services. They may be of help for me.