Our valued sponsor

Sword and Shield
SWISSMONEY Iban Accounts with Sepa

Is a nominee director enough to show management jurisdiction?

Tyler Durden

Tyler Durden

New member
Oct 27, 2016
10
19
3
39
#1
Does anybody know if having a nominee director is enough to show that the company is managed from the jurisdiction it is registered in?

For example, if I register a Seychelles IBC with nominee director, will the company only be liable for taxes in Seychelles or do I also need a nominee shareholder or a trust?

The reason I ask is: I don't want my local revenue service to think that I am managing the company from wherever I reside and thus company taxes are due there instead of Seychelles.
 
  • Like
Reactions: myhand, icecold, drillbill and 2 others
#2
You will need to have a local nominee director + local nominee shareholder. Once you have setup the company and you appointed the nominees you need to have a damn good tax lawyer in your country to help you once the tax office knock on your doors!

Honestly, you only want to do that if we speak real money not for small amounts i.e. 5k - 10k per anum!
 
  • Like
Reactions: dotbloup, negon and Tyler Durden
#3
Admin said:
You will need to have a local nominee director + local nominee shareholder. Once you have setup the company and you appointed the nominees you need to have a damn good tax lawyer in your country to help you once the tax office knock on your doors!

Honestly, you only want to do that if we speak real money not for small amounts i.e. 5k - 10k per anum!
Click to expand...

Hi Admin. Are you saying that nominee directors and nominee shareholders are not necessary for small annual profit amounts?

Surely, my local tax office would not even know that I control the offshore company? Or would they find out from my bank account connected to the company?

Has anybody on this forum experienced anything like this?
 
  • Like
Reactions: icecold
#4
Tyler Durden said:
Hi Admin. Are you saying that nominee directors and nominee shareholders are not necessary for small annual profit amounts?
Click to expand...
Well, I have a personal experience with the local tax office that they ignored the fact that we had nominees appointed and the ignored any evidence we provided that the company was controlled abroad the same goes for the management.

The difference is that we were honest and told them about the company and the companies bank account and even provided bank statements to the tax office, that may have been the biggest mistake.

So I would appoint nominees but I would still not tell anyone about it. As long as the company is active no reporting happens as long as we speak Cyprus.
 
  • Like
Reactions: icecold and Tyler Durden
#5
Admin said:
Well, I have a personal experience with the local tax office that they ignored the fact that we had nominees appointed and the ignored any evidence we provided that the company was controlled abroad the same goes for the management.

The difference is that we were honest and told them about the company and the companies bank account and even provided bank statements to the tax office, that may have been the biggest mistake.

So I would appoint nominees but I would still not tell anyone about it. As long as the company is active no reporting happens as long as we speak Cyprus.
Click to expand...

So what would have been the correct course of action? Not tell them about the company bank account and not provide bank accounts?

I am asking for an active company, not investment holding or asset protection.
 
#6
Tyler Durden said:
So what would have been the correct course of action? Not tell them about the company bank account and not provide bank accounts?
Click to expand...
Yes at the end of the day and when I discuss this now with my lawyer, we should not have told them about it. The money flowing through the entities was very small compared to some of the cases we have heard about in the papers. They wouldn't have been able to find out anyway.
 
#7
I didn't faced any complication with the tax office yet. I have a SC with full nominee service and banking different places as well as Cyprus. When I access my banking I always use VPN so I have not told anyone about it. This has been working for me for a long time.
 
#8
ImKing said:
I didn't faced any complication with the tax office yet. I have a SC with full nominee service and banking different places as well as Cyprus. When I access my banking I always use VPN so I have not told anyone about it. This has been working for me for a long time.
Click to expand...
Do you ever pay yourself a salary from your bank accounts?
 
  • Like
Reactions: negon
You must log in or register to reply here.
SWISSMONEY Iban Accounts with Sepa

Forum Announcement

Latest Threads

The Kingdom Bank
Offshore Bank Accounts
SWISSMONEY Iban Accounts with Sepa
Top Bottom
Back