Poor man's bank for Seychelles IBC

[Martin Everson]

A shell company is a non trading company that is used as a vehicle for financial maneuvers such as tax avoidance. If his business had a warehouse it isn't necessarily a shell company if he had actual trading activity on it. Having a warehouse in the Seychelles isn't necessary to avoid being a shell company. All that is necessary is some real trading activity, holding assets, etc.

And with such a snarky and condescending attitude you'd think that you'd actually offer some advice in here on what is a potentially good alternative structure.

The comment I just made to you in below thread rubbed you the wrong way..lol. So you went back through the forum to find an old post I made last Tuesday so you can reply and vent some frustration...wow

New bank for BVI

Look you were with Choice Bank because you don't have ANY common sense about danger just like people that banked with Loyal Bank and those that still bank with EPB. Something in your brain has to tell you they are crap banks and serve the bottom of the barrel customers who are clueless startup techies or criminals who cannot open accounts for offshore companies anywhere else on the planet. Look at good side their are people that still bank at EPB , you learnt the hardway and grown a brain and some common sense now from your comment in above thread i.e "I am looking for a bank that is more established than that." .

 

[Mark Rucken]

The comment I just made to you in below thread rubbed you the wrong way..lol. So you went back through the forum to find an old post I made last Tuesday so you can reply and vent some frustration...wow

New bank for BVI

Look you were with Choice Bank because you don't have ANY common sense about danger just like people that banked with Loyal Bank and those that still bank with EPB. Something in your brain has to tell you they are crap banks and serve the bottom of the barrel customers who are clueless startup techies or criminals who cannot open accounts for offshore companies anywhere else on the planet. Look at good side their are people that still bank at EPB , you learnt the hardway and grown a brain and some common sense now from your comment in above thread i.e "I am looking for a bank that is more established than that." .

You do realize that even if you have an amazing business, account opening ANYWHERE in the world in a good and reputable bank is almost impossible for companies coming from tax-haven islands? What you have left are EMI and crap banks in the Caribbean ... and a few hidden jewels in Europe.

 

[Martin Everson]

You do realize that even if you have an amazing business, account opening ANYWHERE in the world in a good and reputable bank is almost impossible for companies coming from tax-haven islands?

That's not true at all and also not a reason anyone should go to a sh*t bank if that is what you are trying to justify?

People who have private banking (specifically wealth management) or investment banking relationships have don't face the same level of problems opening accounts for offshore companies. However the majority of people on this board fall into retail banking activity which is not the same as private banking and investment banking so they are stuck. Retail banks are not interested in the deep offshore.

 

[Mark Rucken]

That's not true at all and also not a reason anyone should go to a sh*t bank if that is what you are trying to justify?

People who have private banking (specifically wealth management) or investment banking relationships have don't face the same level of problems opening accounts for offshore companies. However, the majority of people on this board fall into retail banking activity which is not the same as private banking and investment banking so they are stuck. Retail banks are not interested in the deep offshore.

Regular European banks do not want to deal with clean business if they are operating through Seychelles or Belize company. For example, web and software developer who has a clean business and healthy turnover would be rejected by most European banks just because they presented docs of Seychelles or Belize company. This is becoming a norm. Even Cypris banned these jurisdictions.

Most European Bank request tax ID issued by the relevant body from the country of incorporation. The best option to stay tax-free and still get a tax ID is Hong Kong, you get a BR (Business Number) by default and European banks are satisfied with it.

 

[Mark Rucken]

That's not true at all and also not a reason anyone should go to a sh*t bank if that is what you are trying to justify?

People who have private banking (specifically wealth management) or investment banking relationships have don't face the same level of problems opening accounts for offshore companies. However the majority of people on this board fall into retail banking activity which is not the same as private banking and investment banking so they are stuck. Retail banks are not interested in the deep offshore.

One more thing, I am not advising anyone to go with some crap banks, instead, I suggest them to incorporate in a more reliable jurisdiction and based on that open the door for better European banks. Cheers

 

[JohnLocke]

This is becoming a norm. Even Cypris banned these jurisdictions.

not true! You may read this post Quick update for Offshore company and Cyprus bank account opening Aug 2018

It all comes down to what business you are into and how trustworthy your business is!

One more thing, I am not advising anyone to go with some crap banks, instead, I suggest them to incorporate in a more reliable jurisdiction and based on that open the door for better European banks. Cheers

very very broad, so you may suggest what such crap bank is to avoid and what banks you mean are not crap banks?

 

[Mark Rucken]

not true! You may read this post Quick update for Offshore company and Cyprus bank account opening Aug 2018

It all comes down to what business you are into and how trustworthy your business is!

very very broad, so you may suggest what such crap bank is to avoid and what banks you mean are not crap banks?

If someone on this board managed to open the account in Cyprus for Seychelles or Belize company in the past 2-3 months, please share it here or at least if you heard that someone was successful. Maybe they would accept an existing client of the bank with multi-million turnovers and I say maybe.

Crap banks: Loyal (in liquidation), Euro Pacific, Private Pacific, Caye, Choice, Vivier ... and company

Good banks: Pretty much all banks in Europe (minus some terrible banks in Montenegro that are now on the market, charging 600 EUR for the account opening and with 10k deposits LOL), banks in HK, USA, most UAE banks etc.

 

[JohnLocke]

Maybe they would accept an existing client of the bank with multi-million turnovers and I say maybe.

You answered with a hypothetical question - if the business model is clean it would not be a problem. Anyway, this is another discussion and is going off topic.

Good banks: Pretty much all banks in Europe (minus some terrible banks in Montenegro that are now on the market, charging 600 EUR for the account opening and with 10k deposits LOL), banks in HK, USA, most UAE banks etc.

again very broad, sorry to say so but you wrote the below:

I suggest them to incorporate in a more reliable jurisdiction and based on that open the door for better European banks.

how would someone know what you mean?

 

[Mark Rucken]

You answered with a hypothetical question - if the business model is clean it would not be a problem. Anyway, this is another discussion and is going off topic.


again very broad, sorry to say so but you wrote the below:

how would someone know what you mean?

You know what I mean. They accept people who have yachts, mansions and millions, while I am finding a solution for REAL PEOPLE.

Yeah, I have to be "broad" because I am making a living out of this and I am not really keen to share everything on a public board like this, but I am being totally honest and when I say that people should avoid Seychelles, Belize and co. because finding healthy banking solutions for these jurisdictions is difficult.

 

[Martin Everson]

Good banks: Pretty much all banks in Europe (minus some terrible banks in Montenegro that are now on the market, charging 600 EUR for the account opening and with 10k deposits LOL), banks in HK, USA, most UAE banks etc.

I would personally tier European banks. Western Europe banks and Eastern Europe banks are different. Most Eastern European banks are cr*p banks. You cannot compare a Latvian or Bratislava bank to a UK bank for example...lol.

 

[Mark Rucken]

I would personally tier European banks. Western Europe banks and Eastern Europe banks are different. Most Eastern European banks are cr*p banks. You cannot compare a Latvian or Bratislava bank to a UK bank for example...lol.

Still, I would go with a Bratislava bank over Euro Pacific Bank. At least if something happens with the bank in Bratislava, you can reach out to some institution in Slovakia and seek help, while with EPB for example .... oh well, you are done

 

[Martin Everson]

Still, I would go with a Bratislava bank over Euro Pacific Bank.

I would go to hell in a mink coat before I would go back to EPB.

 

[MrTony]

What about Armenian or Kazakhstan banks like Ameria, Armswiss or Halyk?

 

[Martin Everson]

What about Armenian or Kazakhstan banks like Ameria, Armswiss or Halyk?

I don't know why Sacha Baron Cohen in The Dictator comes to mind whenever Kazakhstan is mentioned.

I need to do my homework first but Ameria actually looks decent. They offer distance opening (Armenia website) and for me mobile banking app in apple store. . Have you used them?

 

[MrTony]

I don't know why Sacha Baron Cohen in The Dictator comes to mind whenever Kazakhstan is mentioned.

It's all stereotypes. This is a very big, rich country with a lot of natural resources. Maybe some totalitarianism in the government, but they try to go to the next level and personally for me, they are more preferable than the Carribean or Pacific countries in this sense. Just google their capital and you understand what about I'm talking.

I need to do my homework first but Ameria actually looks decent. They offer distance opening (Armenia website) and for me mobile banking app in apple store. . Have you used them?

Not, yet, but in the nearest plans. But I thought that personal presence required...

 

[Martin Everson]

But I thought that personal presence required...

Nope

Distant Account Opening

 

[MrTony]

Nope

Distant Account Opening

But only for individuals.


What your opinion about one more offshore bak - Hermes?

 

[Martin Everson]

But only for individuals.

Might be good for some who just need a modern personal account. Looks cheap and cheerful.

What your opinion about one more offshore bak - Hermes?

Hermes I remember being discussed on another forum. I don't know enough about the bank to give a comment.

 

[MrTony]

And offshore banks from Curaçao - SAI-Bank and UIBT. I heard that Curaçao had one of the best banking systems in the Carribean region, but no have to experience with opening accounts there. Maybe someone can share?

 

[Martin Everson]

And offshore banks from Curaçao - SAI-Bank and UIBT. I heard that Curaçao had one of the best banking systems in the Carribean region, but no have to experience with opening accounts there. Maybe someone can share?

Forget UIBT group....they are a bunch of time wasters. I would go with amicorp group as they do exactly the same thing and they are who uibt aspire to be. They are both high end multinational offshore providers with offshore banking licenses. Amicorp is more connected in Curacao though . I have never used SAI. I would say that curacao is not easy place so if you are going to turn up to open an account there then I would go with CIBC FirstCaribbean in Willemstad.