Would you use a offshore company for Adult or better go with onshore?

[buka]

We are planning to launch a new business (Adult business) and thinking if a offshore company will be good for this type of business or better to go with a UK or US company?

 

[JohnLocke]

Well, the problem will not be the company formation either offshore or onshore, but rather‌ the banking. There are not many banks left who accept Adult business for banking.

 

[buka]

So that means that if I can find a bank who accept adult business then‌ we can use a Cyprus or BVI offshore company for this purpose?

 

[JohnLocke]

You can use you company as you like, it doesn't matter if it is a‌ BVI or Cyprus company, you just need to find a bank who accept adult business.‍

 

[plotoffshore]

I understand that it is not required to inform anyone about the company's activity. So‌ why do we need to give this information during the order process?

 

[JohnLocke]

Because of International KYC / DD laws, it's part of a huge worldwide ranging policy‌ in the fight of terrorism and money laundering.

 

[puntooffshore]

So everyone has to provide a passport copy and utility bill to order a offshore‌ company, perfect. Who will get access to these documents? I mean does it require some‍ court order or can every authority just request such information as they like?

 

[clemens]

All Agents involved will have access to the documents including the offshore banks. That's usual‌ KYC compliancy 🙂

 

[buka]

Thank you jpay... does that mean it is not anonymous‍ any longer? and will the hand over documents to government or tax office by request?⁠

 

[JohnLocke]

It will require several court orders to hand over any client information to any governement‌ or tax office.. so far not happen yet!

 

[buka]

It's not gonna to be easy I guess then for anyone to retrieve ownership data‌ for a Seychelles or Cyprus company? that's good.

 

[Spinat]

Depends on where you live.. if you are⁠ from Europe, go with a UK or Cyprus company and use CCBILL for payment processing.⁤ For banking there must be some banks in latvia that may be able to help⁣ you.

 

[protain]

That would require⁠ that CCBILL accept European companies, do you knwo if they do? A UK company isn't⁤ considered offshore or is it?