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But banks in Seychelles aren't that great . I liked it when they had Barclay's bank but after 2015 it left Seychelles unfortunately. Do you recommend any specific bank?
ABSA Bank has Barclays' SWIFT codes in Seychelles, as they took over operations (BARSC is how it starts). All in all, if they grant you access, it is a reasonable enough bank (one of the largest in the south of Africa), so you should be covered with them.

NVO
 
I'd like to add a point regarding UAE foundations, because the CIT some say it is imposed on them is not completely accurate. But instead of me ranting about it, I'll leave you a link of a good firm that works there and who are going to give you good legacy planning advice in the UAE: https://knightsbridge.ae/changes-to-the-tax-treatment-of-foundations-in-the-uae/

In my case, for example, I've got a transparent entity, because I do not carry any commercial/business transactions with it, and that has been confirmed after last year's regulatory changes. So unless you want your foundation to incur in business activities (why would you want that instead of a free zone entity?), you'll be tax transparent, the distributions and proceeds passed onto the beneficiaries becoming a taxable event, but then again, there's no income tax (yet) at the personal level in the UAE so...

Hope this helps.

NVO
 
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But banks in Seychelles aren't that great . I liked it when they had Barclay's bank but after 2015 it left Seychelles unfortunately. Do you recommend any specific bank?

What has Seychelles banks got to do with where you bank the assets of Seychelles Foundation?

Do you think there are many Seychelles, BVI or Cayman trust or even offshore company that bank locally....lol? The majority bank outside the jurisdiction and same principle applies for Foundations.
 
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What has Seychelles banks got to do with where you bank the assets of Seychelles Foundation?

Do you think there are many Seychelles, BVI or Cayman trust or even offshore company that bank locally....lol? The majority bank outside the jurisdiction and same principle applies for Foundations.
But banks offshore aren't happy to accept anything to do with Seychelles jurisdiction due to past issues. Do you recommend banks who are ready to work with Seychelles as I have found no banks as of yet.
 
But banks offshore aren't happy to accept anything to do with Seychelles jurisdiction due to past issues. Do you recommend banks who are ready to work with Seychelles as I have found no banks as of yet.

Locally I have talked about Al Salaam Bank in Seychelles over the years.


Your best bet is to speak to a one stop shop with their own in-house bank and ask them about a Seychelles Foundation if thats what your after.

https://www.amicorpbank.com/services/trusteeservices
https://www.uibt.com
 
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If you want a bank account UAE may be the better choice otherwise Seychelles or Vanuatu as they won't throw you in jail or issue an INTERPOL red notice over a misunderstanding.
If you want a bank account UAE may be the better choice otherwise Seychelles or Vanuatu as they won't throw you in jail or issue an INTERPOL red notice over a misunderstanding.
Interpol goes only after people who have criminal record.
 
Ok guys can we stick to topic...thx

P.S Off topic posts will be deleted again.
 
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ABSA Bank has Barclays' SWIFT codes in Seychelles, as they took over operations (BARSC is how it starts). All in all, if they grant you access, it is a reasonable enough bank (one of the largest in the south of Africa), so you should be covered with them.

NVO
I was advised by an advisor Absa has stopped accepting offshore accounts. If anyone has some valuable info on this situation please reply back. Thanks
 
In the UAE, there are three foundations:
  • ADGM foundation (Abu Dhabi)
  • DIFC foundation (Dubai)
  • RAK ICC foundation (Ras Al Khaimer)

These foundations are based on English common law.

Foundations are perpetual, and thus are valuable for succession planning. They can also be useful for asset protection, similar to a trust.

The foundation can hold property, investments, businesses, crypto, etc.

I am interested to know if anyone has any experience with UAE foundations. They seem to be quite attractive, and far cheaper than alternatives (i.e., a Cook Island trust). Pros? Cons?

Note: properties/investments held by a foundation do not seem to be eligible for the golden visa, as far as I know.
I’ve worked with all three, ADGM, DIFC, and RAK ICC depending on the client’s goals, and I can confirm that UAE foundations can be a solid option for asset protection, succession, and even holding crypto.

A few thoughts based on experience:
  • ADGM and DIFC are great if you want something more internationally recognized with a strong legal framework (both use English common law). They're more formal and have higher ongoing costs, but they're well respected, especially for more complex or cross-border setups.
  • RAK ICC is simpler and cheaper to run. It's less well known globally but still perfectly valid, and for holding assets like real estate, IP, or crypto, it does the job well.
One thing that’s often misunderstood is that foundations can’t do commercial trading, but they can own shares in companies that do. So it's great for holding structures. Also property or investments held via a foundation don’t count toward the golden visa eligibility, at least not currently. If that's important, you'd have to hold those personally or through other approved structures.
All in all, they’re a nice middle ground between a trust and a holding company, especially in the UAE where the legal environment supports it.

Curious to hear if anyone’s used one for multi-jurisdiction planning or crypto custody?