Offshore companies or IBCs

[JohnLocke]

aage said:
I read many places BVI is dead as an offshore jurisdiction, can that be true or nonsense?
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It's just been complicated to incorporate a BVI company because of all the requirements they have to the documents required.

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[JohnLocke]

alley said:
Would you say it's easier to just order a read-made company maybe?
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It's not going to be "easier" they will require the same documents and the same information. I guess they already knew about the #PanamaPapers long before it got public!

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[JohnSeed]

fireserve said:
BVI offshore company formation was among the first to request outrageous documents, so the Seychelles was following and I wonder who is next!
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Today one can forget about BVI as a jurisdiction to incorporate their business, it's complicated and provides almost no security any longer.

 

[mnschwarz]

If one already has a BVI IBC with bank accounts, assets etc, would you recommend incorporating elsewhere and shifting these assets? Or is it more a problem with new incorporations?

 

[dotbloup]

mnschwarz said:
If one already has a BVI IBC with bank accounts, assets etc, would you recommend incorporating elsewhere and shifting these assets? Or is it more a problem with new incorporations?
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If someone has an IBC anywhere in the world, if it is ready, i would suggest to keep it and to see what you can do with it.

This IBC can hold patents, trademarks, copyrights, domain names and sell license, right for use to any companies in any country in the world to a reasonable extent. (Not 50-100% of a company profit).

I also say a reasonable extent because it is required to repatriate the money.

 

[suzy]

Same thing just two different terms. An Offshore IBC is the same as an offshore company most often IBC just make it clear that it can't do domestic business.

 

[Houdini]

Offshore Company with the ending IBC can't do domestic business isn't that the difference?

 

[uplana]

yves said:
Isn't it all the same as long as the company does not do business locally you can call it a IBC even companies not registered in an offshore jurisdiction may be called IBC's
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Yeah same thing. Some offshore jurisdiction don't allow the wording IBC but rather call the LTD or similar!

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[uplana]

auric said:
I would not recommend to incorporate your business in the BVI any longer! too much trouble to little outcome.
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Why not? If we can collect all the documents required to get a BVI company wouldn't it be a better option compared to Cyprus, Malta or UK?

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[Old Spice]

Who knows what European offshore companies might have to comply with in the future since they are part of the EU gang. I suspect a BVI company has the advantage of its independence and the BVI government can structure any agreement to its own advantage. BVI already has some double taxation agreements in place and of course the TIEA's with some of most highly taxed nations in the world. This alone can make a BVI company a powerful entity where the EU, Asia and the US have flawed business models.

 

[JohnLocke]

Well, I don't see any benefits to BVI compared to Cyprus or Malta.

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[Old Spice]

From a legal perspective, my guess an EU registered company doing business inside the EU does carry some liability. i.e. A contractual obligation could be threatened by something as simple as an EU investigation with no merit.
In the case of the BVI corporation, it would be difficult to carry forward the investigation due to the jurisdiction.

I have this gut feeling the EU as a gang is trying to protect its interests and will gradually convince these low tax countries they will need to work the EU way and equalize interests.

BVI companies are not for everyone but they do have a niche when legal matters are of interests.

 

[Green]

Dear all,

I can't see the button to create new thread.

Here is my problem:

I own a Seychelles company, but I am unable to open a bank account.

This company is newly set up recently.

Therefore, I would like to close this company.

However, the dissolution fee is very high.

Can any of you give me a suggestion to lowest my fee to finish this company?

Heard

1) just don't pay renewal fee, but any risk? and how long will this Seychelles company last?
2) sell this company to others. Anything I need to notice?
3) do other investment. But what? since I don't have money