Advice on seychelles company + euro pacific bank account

[sullyferdinand]

Let's be real here. There is nothing legal about earning money through a Seychelles company, hiding it in Euro Pacific Bank, not declaring, not paying tax, and living in Denmark.

What you are doing would be a direct violation of Danish law, both in terms of taxation and in terms of not doing proper book keeping. If the Danish authorities find out about it, you're looking at financial penalties and possibly jail time. Secrecy is not sustainable especially against a competent and aggressive tax authority like Denmark's.

If you don't want to pay Danish tax, leave Denmark. If you have an EU passport, Malta and Cyprus are popular destinations for people who make a living entirely online. Costs of living are lower too so your $5000/month will last you longer.

Facts


Simply relocate to tax friendly country. I still don't understand why anyone with ambition would just stay put and risk it all to setup something offshore.

I guess many of those people wouldn't have a clear idea that they are at risk. A lot of people will ignore the fact they need to get professional advice before structuring anything related to offshore.

100000% AGREE
Do your research, plan ahead

 

[JohnLocke]

There is a reason for why they (Governments) let banks in Puerto Rico live and allow the activity they are doing. On a short term I believe they let them do what they do because they are investigating and use these banks as honeypots.

On a long term, maybe it benefits the US or other governments to have most of these operations in one place, it's easier to turn the switch off if it's required.

 

[Martin Everson]

There is a reason for why they (Governments) let banks in Puerto Rico live and allow the activity they are doing. On a short term I believe they let them do what they do because they are investigating and use these banks as honeypots.

That's basically it. They are watching i.e the Venezuelan transactions flowing through some of these banks. The Feds can watch certain operations around organized crime for many years before making their move. There is zero chance the mass surveillance tools of the US government is not aware of what is happening in the Puerto Rico banking scene.

 

[Sols]

Puerto Rico is also broke and are happy to turn a blind eye to some or most of what goes on with their international banks, as long as they can rake in some license fees and what little tax revenue they earn.

 

[Piano]

Ah, now I see through the fence. And they are plenty EPB alternatives like, Sternbank, StandardInternational and so on.

What other banks would you recommend overthere ?

 

[blizz]

What other banks would you recommend overthere ?

I would not touch any of the mentioned, so many negative reviews are around the forum about them.

ABC Bank Mauritius and ADCB Hayyak Bank may be some good alternatives.

 

[dirtyharry]

I read in another thread that ABC bank may accept Seychelles IBC's if a introducer is used, but I have not found one yet.

 

[AMD]

Does it work, someone can confirm that we can setup a Seychelles company with Euro Pacific bank?

 

[Martin Everson]

Does it work, someone can confirm that we can setup a Seychelles company with Euro Pacific bank?

I think after EPB's recent scandal maybe not. Best to ask EPB directly unless there are people here who recently opened a SC company account with EPB - and I mean opened in last few weeks.

 

[silentreader]

I used Hellenic Bank with a Seychelles IBC but that was 5 years ago, things might have changed!

 

[cyprusbanker]

I used Hellenic Bank with a Seychelles IBC but that was 5 years ago, things might have changed!

why do you post it all over the forum, a. this thread is not about Hellenic bank, b. it's 5 years ago, who has an interest to know?

I think after EPB's recent scandal maybe not. Best to ask EPB directly unless there are people here who recently opened a SC company account with EPB - and I mean opened in last few weeks.

I agree, if someone has been able to open an account within the last 2 weeks they may let us know.

 

[silentreader]

why do you post it all over the forum, a. this thread is not about Hellenic bank, b. it's 5 years ago, who has an interest to know?


I agree, if someone has been able to open an account within the last 2 weeks they may let us know.

The user asked for a solution for his Seychelles IBC - What problem do you have? Afraid someone might not want to pay you a commission?

 

[Martin Everson]

The user asked for a solution for his Seychelles IBC - What problem do you have? Afraid someone might not want to pay you a commission?

I think the problem is your suggestion was for a solution from 5 years ago. In offshore banking years that like 150 years ago . The world is a different place now for banking.

 

[lavel]

As some pointed out already, we need fresh reviews on the situation.