Opening BVI company - harder than before 2016?

[Dave]

Hello!
I wonder if you think opening BVI companies has become harder?
Have them expanded the list of necessary documents?
Dave

 

[icecold]

Yes it has become harder to register a BVI company. I tried for about 5 month ago but gave up because of all the paperwork they was asking for. Seems it is similar to what is happening in the Seychelles.

This time I have registered 5 Seychelles companies where I put 4 on stock until I will read around that people struggle to get a Seychelles company, so they will be able to buy one of my companies quickly

For the BVI it is too late, it seems the entire tax structure in the BVI also made it not worth to register a company there!

 

[myhand]

BVI is a no go if you ask me. I gave up under the process. They asked med for a CV, business background and why I wanted to register a company there! WTF I just want to incorporate my business there I'm not asking them for money !!

 

[drillbill]

Where is a better alternative to BVI then?

 

[happyjohn]

I stopped all operation in the BVI for long time ago! If it wasn't for the privacy I would have stopped operating in the Seychelles too!

 

[Dave]

I stopped all operation in the BVI for long time ago! If it wasn't for the privacy I would have stopped operating in the Seychelles too!

I wonder why you stopped BVI companies?

 

[negon]

If you already had a registered BVI company I would have kept it for future use!

 

[Dave]

Thank you Auric - do you have one yourself? Which jurisdiction you prefer?

 

[Flycatcher]

What exactly is the benefit of specifically having a BVI company in contrast to other offshore jurisdictions?

 

[Dave]

What exactly is the benefit of specifically having a BVI company in contrast to other offshore jurisdictions?

I guess this was the less regulation of the financial service companies - but I guess this is already not true...

 

[Flycatcher]

@Dave I think the reason people consider BVI is because they have a friend or someone who had a BVI company and it worked back then. Nowadays I fail to see a reason why go to BVI.

For example, if a bank rejects some offshore countries but accept some, BVI is almost certainly in the rejection list. At least that is my experience. In addition, there really is a handful of offshore countries and many of those make incorporation easier than BVI.

 

[Dave]

Well yes - can you tell me which offshore countries with hidden registrars are MORE accepted by the banks/and have BETTER REPUTATION?

 

[JohnLocke]

@Dave I think the reason people consider BVI is because they have a friend or someone who had a BVI company and it worked back then. Nowadays I fail to see a reason why go to BVI.

For example, if a bank rejects some offshore countries but accept some, BVI is almost certainly in the rejection list. At least that is my experience. In addition, there really is a handful of offshore countries and many of those make incorporation easier than BVI.

Second that.. BVI had it's time..!

 

[JohnLocke]

Well yes - can you tell me which offshore countries with hidden registrars are MORE accepted by the banks/and have BETTER REPUTATION?

You don't want to focus on hidden registrars but more like if you can appoint nominees legally! It will also depend on where you want to open a bank account. If you want to open an account in a real offshore jurisdiction they most often don't care where the company is registered as long they can verify the documents. For instant in Europe it is different, there I would focus on Gibraltar, Cyprus, Malta and Ireland, the latter I don't know what is possible, still exploring my options.

 

[Dave]

Thank you for your reply...Well - we have developed and advanced analytical service - do you think that using nominees can be dangerous in terms of securing the copyright in the fiture?

 

[myhand]

Thank you for your reply...Well - we have developed and advanced analytical service - do you think that using nominees can be dangerous in terms of securing the copyright in the fiture?

You need an attorney to setup a contract with the company, issue a POA for your self ask your attorney to secure your signature and contract so you have nothing to worry about. Or what do you think @Admin ?

 

[Dave]

lets say the proximate value of the know-how is a few 100K USD - would you use nominees?

 

[negon]

lets say the proximate value of the know-how is a few 100K USD - would you use nominees?

If I trust the agent I would have no problems doing so. But still I would ask a lawyer to help me with an contract. Say the lawyer charge you €1500 for the entire signed contract then it is still cheaper than loosing your 200k USD ?!

 

[myhand]

lets say the proximate value of the know-how is a few 100K USD - would you use nominees?

still I would ask an attorney to help me drafting a contract!

 

[Dave]

If I trust the agent I would have no problems doing so. But still I would ask a lawyer to help me with an contract. Say the lawyer charge you €1500 for the entire signed contract then it is still cheaper than loosing your 200k USD ?!

How do you go about finding some agent that you can trust? Woudl trust be enough to minimize possible damage from using nominees?