BVI vs Seychelles

[yngmind]

Hey guys, my friend needs a company for the token sale.

I think BVI or Seychelles are suitable for that.

He wants to use nominees and preferably not disclose his identity.

In that case, would BVI or Seychelles be better?

Please recommend services to register a company there or where I can purchase a ready company. Thanks.

I need a local Seychelles service provider.

 

[CyprusLawyer101]

A marshal islands co could work better for your privacy concerns.

 

[JackAlabama]

A marshal islands co could work better for your privacy concerns.

dont they have esr and require tax registration somewhere in marshal islands?

 

[CyprusLawyer101]

dont they have esr and require tax registration somewhere in marshal islands?

Other than an ESR report you don't have any further annual filings. And the ESR report is not expected to comrpomise UBO details. Also the token issuance should not fall within relevant activity

 

[Martin Everson]

Hey guys, my friend needs a company for the token sale.

Ok

He wants to use nominees and preferably not disclose his identity.

 

[yngmind]

I've found some good Seychelles corporate providers.

I am still checking the Marshall Islands. I like that you don't need to submit any accounting reports there.

Seychelles is way easier to form than a BVI.

 

[JackAlabama]

Other than an ESR report you don't have any further annual filings. And the ESR report is not expected to comrpomise UBO details. Also the token issuance should not fall within relevant activity

that sounds good. Do you know by chance if crypto trading is a relevant activity?

 

[CyprusLawyer101]

that sounds good. Do you know by chance if crypto trading is a relevant activity?

It is not

 

[bibing]

Don't know why but as soon as I started reading this thread, the only two words that came to my mind are "rug pull"

 

[yngmind]

Don't know why but as soon as I started reading this thread, the only two words that came to my mind are "rug pull"

It's not about the rugpull, more likely avoiding problems with the SEC.

What will happen if on the website it will say that we don't allow US citizens to invest, and they still find a way to invest somehow, then complain to SEC?

ST Vincent seems like a good option, too, but I think they also need ESR.

 

[JackAlabama]

It's not about the rugpull, more likely avoiding problems with the SEC.

What will happen if on the website it will say that we don't allow US citizens to invest, and they still find a way to invest somehow, then complain to SEC?

ST Vincent seems like a good option, too, but I think they also need ESR.

you will still be on the hook. If they wanna get you they will find something.

 

[yngmind]

I know some crypto platforms where you can invest. They ask you for your ID before you invest, and that’s how they avoid problems with the SEC.

 

[KDX]

I know some crypto platforms where you can invest. They ask you for your ID before you invest, and that’s how they avoid problems with the SEC.

But US persons can still acquire tokens from other users, right?

A "crypto platform" isn't the same thing as a "token".

I'd say if you're big enough and cause US persons financial damage, the SEC could indeed come after you. No amount of "no usa people plz" will save you from that if you don't have a sure way of blocking them.

 

[Martin Everson]

Hiding who is behind a token sale is not a legit way to operate. The public could be putting money into a scam at best and funding i.e Hezbollah at worst. Your friend needs to be transparent with investors rather than trying to hide behind a Caribbean shell company.

 

[yngmind]

Hiding who is behind a token sale is not a legit way to operate. The public could be putting money into a scam at best and funding i.e Hezbollah at worst. Your friend needs to be transparent with investors rather than trying to hide behind a Caribbean shell company.

He will show his face, though. He told me he doesn't want any legal problems because of the random US investors.

 

[Martin Everson]

He will show his face, though. He told me he doesn't want any legal problems because of the random US investors.

Then he is lying to you. Find a new friend before he becomes your cell mate.

 

[wellington]

Hey guys, my friend needs a company for the token sale.

I think BVI or Seychelles are suitable for that.

He wants to use nominees and preferably not disclose his identity.

In that case, would BVI or Seychelles be better?

Please recommend services to register a company there or where I can purchase a ready company. Thanks.

I need a local Seychelles service provider.

Did extensive discussions with BVI in 2018 -> it's not regulated there so a illegal use of a corporate entity, Seychelles was ok... but may have changed since.

Key to avoiding the US is rather simple.

No US Stable-coins (either payments or balance)
No US Dollar Accounts or US Banking Providers (hint : EURO)
No US service providers (tech, legal, finance)
No US Persons involved in APEX or staff
No US Presence
No end-use US users

any indirect sales need to be on sites/apps that don't accept us users so their protections cover your company.

Literally any exposure to the US direct/indirect needs to be avoided.

Same for Canada, Israel, Korea (south), Netherlands, Germany.

There you go just saved you 50k in legal fees by simplifying it from our own internal research and discussions with legal(s) and agencies.

Oh and structure your company

Token side -> proper on-ground Director/staff
Dev side -> proper team
Labs (treasury) -> separate board / team

Oh and naturally if using FB block US Traffic (You can) twitter you can't and it can be used against you, youtube it can't.

Also don't allow promoters/influencers/finfluencers (especially US or Green-card people).

 

[yngmind]

Saint Vicent and the Marshall Islands seem like the best options.

I was wondering about the ESR. How scary is that? You fill in a simple form, and that's it, I guess.

 

[yngmind]

Any good registered agent for the Marshall Islands or Saint Vincent?