Bullet proof setup? Offshore company, bank account, private interest foundation

[fjilez]

Great forum, pleased I have come across this! I am hoping some of you savy offshore people maybe able to provide their opinions on what might be my best setup.


What are my Requirements?


Company requirements: Anonymous, minimal maintenance required ie no filling of accounts, minimal amount of shareholders/directors required. Least hassle the better. 0 Tax


Corporate Bank acc. As secret as possible with unlikeliness to cooperate with exchanges of information now and in the distant future.


Easy to withdraw funds from Debit card globally with low as possible ATM fees (I travel ALLOT), able to receive wire transfers with an IBAN number, multy currency with main currency in GBP. Quality customer service, internet and phone banking. A trading / Brokerage platform for stocks and shares. 0 tax.


Purpose:

• To receive payment for my consulting work from UK agencies
  
• To be able to trade AIM listed stocks and shares on the LSE
  
• Possibly to run a property rental business in the distant future (I am trying to diversify my investment portfolio)
  
• To have protection of assets for future benefit of my children
  
• To protect assets from legal action from UK for example if ever a situation like that would arise (not that it should as I plan on doing everything legally)
  

The setup i have though might meet these requirements:


Offshore limited liability company: Panama ( secrecy and low maintenance unlikely to co-operate with foreign authorities?)


Panama Private Interest Foundation: (Foundation to own 100% shares of the company) and thinking should I diversify my investment portfolio I would like to own properties, would this be a suitable vehicle for owning properties aswel? However would this not then provide a direct link to me? If I rent property out in the uk but hold it in the foundation then there is not really any secrecy or am I missing something?


Corporate Bank account: St Vincent Europacific. Seems like a reliable service with trading platform options. Multicurrency and affordable fees and.. secrecy?


(how do you stay anonymous if you have to provide ID though?)


Perhaps all that I’m asking for is too much and I should be looking at starting several entities? Maybe one for my consulting work, one for properties and one for trading stocks and shares? I would love to think I can achieve all of this under one company but would like to hear what those with more experience have to say about this? With regards to reputation of jurisdiction where the company is formed it is not important, the agencies I work through will pay me in any GBP account.


Finally as the company bank account grows eventually I would like to have a legal way of getting this money into my own personal acc, i read something about taking a loan out against the company? Can someone please elaborate on this and how it is achievable?


Thanks you for reading my post and hope to hear from those which have managed similar setups.

 

[krm]

Check Private inbox

 

[JohnLocke]

Check Private inbox

If you have something to share you should do so, or at least elaborate a little!! Otherwise PM will be disabled again.

 

[krm]

If you have something to share you should do so, or at least elaborate a little!! Otherwise PM will be disabled again.

I asked for his private email.

 

[biskoffshore]

I asked for his private email.

How does this help the community if I may ask? should be banned!!

 

[biskoffshore]

Great forum, pleased I have come across this! I am hoping some of you savy offshore people maybe able to provide their opinions on what might be my best setup.
What are my Requirements?


Company requirements: Anonymous, minimal maintenance required ie no filling of accounts, minimal amount of shareholders/directors required. Least hassle the better. 0 Tax


Corporate Bank acc. As secret as possible with unlikeliness to cooperate with exchanges of information now and in the distant future.


Easy to withdraw funds from Debit card globally with low as possible ATM fees (I travel ALLOT), able to receive wire transfers with an IBAN number, multy currency with main currency in GBP. Quality customer service, internet and phone banking. A trading / Brokerage platform for stocks and shares. 0 tax.


Purpose:

• To receive payment for my consulting work from UK agencies
  
• To be able to trade AIM listed stocks and shares on the LSE
  
• Possibly to run a property rental business in the distant future (I am trying to diversify my investment portfolio)
  
• To have protection of assets for future benefit of my children
  
• To protect assets from legal action from UK for example if ever a situation like that would arise (not that it should as I plan on doing everything legally)
  

The setup i have though might meet these requirements:


Offshore limited liability company: Panama ( secrecy and low maintenance unlikely to co-operate with foreign authorities?)


Panama Private Interest Foundation: (Foundation to own 100% shares of the company) and thinking should I diversify my investment portfolio I would like to own properties, would this be a suitable vehicle for owning properties aswel? However would this not then provide a direct link to me? If I rent property out in the uk but hold it in the foundation then there is not really any secrecy or am I missing something?


Corporate Bank account: St Vincent Europacific. Seems like a reliable service with trading platform options. Multicurrency and affordable fees and.. secrecy?


(how do you stay anonymous if you have to provide ID though?)


Perhaps all that Im asking for is too much and I should be looking at starting several entities? Maybe one for my consulting work, one for properties and one for trading stocks and shares? I would love to think I can achieve all of this under one company but would like to hear what those with more experience have to say about this? With regards to reputation of jurisdiction where the company is formed it is not important, the agencies I work through will pay me in any GBP account.


Finally as the company bank account grows eventually I would like to have a legal way of getting this money into my own personal acc, i read something about taking a loan out against the company? Can someone please elaborate on this and how it is achievable?


Thanks you for reading my post and hope to hear from those which have managed similar setups.

You will need some Trustee or Protector to handle the paramount entity for you which should be a Trust or Foundation as you already said. Panama, Seychelles and Mauritius are some great places to establish a Foundation and/or a trust for asset and privacy protection. It's easy to maintain as well cheap to establish.

 

[krm]

How does this help the community if I may ask? should be banned!!

Its not supposed to help the community, that's why it was sent via private message. - its none of your business.


If every single message posted here must be for the benefit of all to see, why offer private message functionality.


Your logic is flawed.


Mind your business and not mine.

 

[lavel]

OP, How did you sorted it out?

 

[fjilez]

I was hoping to of had some more feedback on my poa5 and questions raised to be honest. Currently I have still not set anything up. I have been advised more towards starting a company in a low tax juristition rather then 0tax so that if necessary I can show that at least some tax has been paid HongKomg was one of these juristitions. Interested to get some feedback on that because intact HK has most of what I was not looking for in juristiction if you read my original requirements.. but perhaps this is the safer option??

 

[fjilez]

Please excuse typo errors the above was written on my phone....

 

[krm]

fjilezas are in UK?, if so drop me a email if you can <>

 

[JohnLocke]

I was hoping to of had some more feedback on my poa5 and questions raised to be honest. Currently I have still not set anything up. I have been advised more towards starting a company in a low tax juristition rather then 0tax so that if necessary I can show that at least some tax has been paid HongKomg was one of these juristitions. Interested to get some feedback on that because intact HK has most of what I was not looking for in juristiction if you read my original requirements.. but perhaps this is the safer option??

Most in your situation setup a company in a low tax country like Cyprus, Malta or UK, so they make use of the double tax treaty and pay less tax as they had to do if they did business domestic company. And your correct, that way you can show that your company pays tax just at a lower rate but in accordance to applicable tax laws. For this to work you will have to check if your country has a double tax treaty with one of the above mentioned low tax jurisdictions.

 

[cyprusbanker]

You may received the payments from your consultancy work in your Cyprus, UK or whatever company just by invoicing the firm who hired you! The key is that your company must be owned offshore, means, you have to setup a company in a 0 Tax juridiction that 100% owns the Cyprus, UK etc. company. Now, in most cases, you can freely transfer money between the two entities without to pay tax anywhere. Or, you can invoice each entity and by that reduce the tax / eliminate the tax!


Hope it makes sense to you.

 

[tax-haven]

You may want to look into some of the banks in Jamaica, Anguilla or in the Caribbean.

 

[suzy]

Setup a Trust and Foundation paramount ask your Agent to help you with this, make a business plane and draw down the structure you whish to setup, that makes it much easier for everyone to help you get it all setup quickly. Also be very clear with all terms you want incorporated in the corporate documents, going forthe and back with long discussion on how this and that will delay the process dramatically.

 

[thorsten]

You may received the payments from your consultancy work in your Cyprus, UK or whatever company just by invoicing the firm who hired you! The key is that your company must be owned offshore, means, you have to setup a company in a 0 Tax juridiction that 100% owns the Cyprus, UK etc. company. Now, in most cases, you can freely transfer money between the two entities without to pay tax anywhere. Or, you can invoice each entity and by that reduce the tax / eliminate the tax!
Hope it makes sense to you.

Will the bank ask for invoices or other documents to show them in order to release your Money?

 

[JohnLocke]

Will the bank ask for invoices or other documents to show them in order to release your Money?

No, most often if you don't have any shady business going there will be no questions asked. If you try to fool anyone or you are doing something that isn't legit you can expect such requests from the banks.

 

[JohnLocke]

Setup a Trust and Foundation paramount ask your Agent to help you with this' date=' make a business plane and draw down the structure you whish to setup, that makes it much easier for everyone to help you get it all setup quickly. Also be very clear with all terms you want incorporated in the corporate documents, going forthe and back with long discussion on how this and that will delay the process dramatically.[/quote']
That's actually a good advise for people who are setting up a offshore company structure for long term and want a fully protected setup. Most don't even consider any liabilities or privacy breaches once they have setup the company, they just think they are set to go. For offshore banking I would receommend anyone to setup seperated bank accounts for each entity in different banks, that banks it much stronger of an setup.

 

[pontiacG8]

It's not that difficult to get you setup with some strong corporate entity that will shield you from creditors, lenders and other business people. You just need to have sufficient money to get started.