Critique My Lean US - Mauritius Structure (2.1% Effective Tax Rate)

[Marzio]

ideally within the same bank.

I'm not aware of any Georgian bank or Kyrgy bank in any tier-1 jurisdiction. Is there any?

 

[alpakiwi]

Not Georgian bank or Kyrgy bank, UK banks or Swiss banks who will open accounts for Georgian entity (and the other entities)

 

[Houdini]

Do share please

there are lot's around here on OCT - @CyprusLaw @CyprusLawyer101 @CyprusBusiness @James Turner

 

[Marzio]

UK banks or Swiss banks who will open accounts for Georgian entity

These days it's hard to open a UK bank account for a UK LTD, i imagine how easy would be to open for a Georgian LLC unless you show up with a lot of £££££££

 

[alpakiwi]

These days it's hard to open a UK bank account for a UK LTD, i imagine how easy would be to open for a Georgian LLC unless you show up with a lot of £££££££

I respectfully disagree. If you need specific help, depending on your intended usage / how much you will keep on average, I can make some intros. It's more about who you know at those banks and whether you are willing to pay slightly more expensive fees than what you would pay for Revolut, than showing up with a lot of money.

 

[CyprusLawyer101]

there are lot's around here on OCT - @CyprusLaw @CyprusLawyer101 @CyprusBusiness @James Turner

Thanks Houdini, I am around if @Leo Vanguard would like to review his stuff

 

[lacomaco]

Yes, in practice, it’s crucial to have strong banking relationships in tier-1 jurisdictions that can facilitate account openings for your entire setup—ideally within the same bank. I’ve successfully done this multiple times, covering Georgia, Cyprus, Malta... and more "grey" ones like Nevis, Bahamas... If someone were to take a ‘cheap’ approach—which I wouldn’t recommend given his $1-3M annual income—they could open a Georgia company account with Wise or use Revolut in Malta, for example. With their income, they must already have contacts with private banks.

For a normally working setup Wise and Revolut I think are bad choices. They can suspend (and will!!) suspend the account if their computer says so, and I simply do not think that the structures and activities will no be immediate red flags

 

[daniels27]

For a normally working setup Wise and Revolut I think are bad choices. They can suspend (and will!!) suspend the account if their computer says so, and I simply do not think that the structures and activities will no be immediate red flags

Do you think Georgian banks are safer?

Thread 'Terabank Georgia'

Oct 12, 2021

I have accounts with the usual suspects in Georgia (TBC, BoG, VTB) and whilst they don't hold a king's ransom, I'd still like to diversify deposits further.

What are people's experience with Terabank? They're quite heavy on advertising in Tbilisi yet after a deeper dive into them, I was surprised to see they're absolutely tiny and scrape a B+ rating from Fitch. The constant name changes over a short period of time are also noted...

Some of their correspondent banks (even for USD) are also somewhat suspect, I count 4 Russian outfits. Does this mean Terabank are smart in not relying on one...

• permabear
• Replies: 31
• Forum: Offshore Bank & EMI Accounts

• 

 

[lacomaco]

Do you think Georgian banks are safer?

Thread 'Terabank Georgia'

Oct 12, 2021

I have accounts with the usual suspects in Georgia (TBC, BoG, VTB) and whilst they don't hold a king's ransom, I'd still like to diversify deposits further.

What are people's experience with Terabank? They're quite heavy on advertising in Tbilisi yet after a deeper dive into them, I was surprised to see they're absolutely tiny and scrape a B+ rating from Fitch. The constant name changes over a short period of time are also noted...

Some of their correspondent banks (even for USD) are also somewhat suspect, I count 4 Russian outfits. Does this mean Terabank are smart in not relying on one...

• permabear
• Replies: 31
• Forum: Offshore Bank & EMI Accounts

• 

Of course not