Best setup to protect my assets and privacy, what offshore company please?

[marcel]

I need the best possible way to protect my privacy and assets when starting my business which is in a low area or business practice.. My business sucess will depend on my privacy.


Where to register offshore company and where to bank offshore, please advise?

 

[JohnLocke]

It's not going to be that difficult. A Seychelles offshore company and Cyprus bank account will most properly be sufficient for what your looking for.

 

[marcel]

Is there any other solution similar to this one?

 

[JohnLocke]

Well, you may look into a Belize or Panamanian company but they won't offer you the same level of privacy and anonymity at all. Nor will such entities be able to protect your assets the same way!

 

[marcel]

What about Costa Rica, Mauritius, St. Kiits, Andora, Curacao? I need alternatives to look into please

 

[GrafDark]

I read that a Costa Rica company is anonymous as well but it is cheaper to buy a Seychelles IBC.

 

[marcel]

It seems from all reading and the lack of replies from people that should know better that a Seychelles company has much more to offer for less compared to a Costa Rica company, more value for money:tongue:

 

[brianK]

It seems from all reading and the lack of replies from people that should know better that a Seychelles company has much more to offer for less compared to a Costa Rica company, more value for money:tongue:

I agree with this statement. A Seychelles company was the best offer I got and now while I got it I must say I'm impressed good and solid offshore entity.

 

[dentel]

Any better solutions for asset and privacy protection please?

 

[stephenbestel]

Mauritius is the best Options for the following reasons:


1. Mauritius is GMT +3 and Government actively working for a 24/7 country. Unlike Seychelles, where business usually get over at 3 or 4 pm.


2. Privacy is one of the main concern of the Central Banks. They ensure that data or identity of client is protected as stipulated in the Data Protection Act. Initially, only two organisation would know that you are the owner of a company. (One of the FSC, the regulator with whom you get offshore licence and banks).


3. It offers more than one type of Companies. For instance you have GBL 1, GBL 2, Domestic, Trust, Protected Cell Companies, Foundations etc). The best one is GBL 2, you dont need to pax at all . If someone need more details on the other types of companies, do revert back.


The second best option is Seychelles, the problem with Seychelles is that laws keep changing too often.

 

[TVentures]

Every entity from any jurisdiction should be a "solid" entity if the Organizer filed correctly and the Lawyer did the transactional work (paperwork) correctly.


Solidarity comes from the entity being in the proper and sufficient jurisdiction applicable to the originating jurisidiction of the wire transfer to fund the entity and such funding to be at a banking location which: charges transfer rates and not percentages, financially stable and not at risk of going under.


Besides, all monies should never all be kept in one bank institution. A good rule of thumb is have at least 5 accounts dividing the monies. If a bank goes under, or a accuser finds one banking location, they do not find ALL of the monies.


Banking times is irrelevant unless you think you will be calling them up all the time... ???

Initially, only two organisation would know that you are the owner of a company.

WHOA! You should never be the "Owner" (legally wrong word anyways, try 'Member') of the company which has the bank accounts. You should at least always be the "majority shareholder" of a company that is the "Owner" of the Company with the bank account. You should only ever appear as a signatory that is an "Authorized Agent" for the Banking Customer that is the Company


Moving 'Offshore' and selecting a setup is not like shopping at the thrift store. "Special" and unique characteristics come AFTER first analyzing the right jurisdictions applicable to the originating jurisdiciton of the revenue. Characteristics like " i dont have to get up in the middle of the night to call them" should be the least of your concerns. This is a legal game.

 

[stephenbestel]

My answers consist of Offshore in Mauritius only (Applicable for other Jurisdictions also).


In Mauritius you have Owners sometimes referred to as Ultimate Beneficial Owners or Beneficial Owners. These are different from Members (Shareholders /Nominee Shareholders). A shareholder will hold shares in the Company and names will appear in all documents. An Ultimate Beneficial Owners will form a trust with the shareholders specifying each and very details of their authority in the Company.


Moreover, to open an offshore company in Mauritius, it is mandatory that you reveal your identity to the Financial Services Commission.


This applies for banks also, where you will be asked to provide all details of the shareholders and ultimate beneficial owners. Without it, they would categorically not accept you.


Unfortunately, I cannot post link here, otherwise I would post all the links from regulatory boby (Bank of Mauritius, Registrar of Companies, Financial Services Commission and Financial Intelligence Unit) there to support my answers.


However, I do agree that going offshore is not a game. You need to play with all the cards. That’s why I always strongly advise my client to choose an agent first.

 

[TVentures]

Yes that is correct. That is what they do. They always hammer down trying to find a man/woman's name. It is pure sillyness when their own laws mandate they only need the Customers Name, Signatory, and one Address at minimum.


Your answers are understood, no links needed.


The Man/Woman search is solved by having a nominee shareholder having a minority percentage share. Attorney's can do this for a fee. The key word is "beneficial" or "benefit" Unless otherwise specified, shareholders are the beneficial "owners" in contradistinction to stock holders.

 

[crownsortium]

WHOA! You should never be the "Owner" (legally wrong word anyways, try 'Member') of the company which has the bank accounts.

So if I own a company I'm not the owner of a company but a member?

 

[crownsortium]

The second best option is Seychelles, the problem with Seychelles is that laws keep changing too often.

One don't care when he holds the original docs in their hand a "company owner"

 

[TVentures]

So if I own a company I'm not the owner of a company but a member?

Ownership is a civil term. Google "color of law". If you want "offshore anonymity", which boils down to limited liability, you are entering of field of legal subject matter. It involves a lifesytle change and a dictionary change. If one seriouslly wants to use the term "ownership" then the only one who legally is allowed to is the state. Color of Law. This is legal vs equitable title. A corporation is a civil entity formed at the permission of the state. The state has equitable ownership over every entity. You as shareholder, aka "Member", are but a person holding legal title.


When persons enforce the word "ownership" in legal matters, they are none other than creating prima facia evidence of "alter-ego".


Now "alter-ego" is okay only when dealing with ID solutions. Which are onshore solutions (sometimes)

 

[stephenbestel]

Hi crownsortium,


Below may help:


Ultimate Beneficial Owner/ Beneficial Owner are the real owner of a company. But they may or may not (Depending on their choice) to be member. But as TVentures mentioned, if you are incorporating an offshore and you are the member/shareholder, it would not be worth it.

 

[marcel]

Thanks to all that replied to my thread very helpful people you are