I'm excited to have found this forum with such knowledgeable people. Today I submitted an application to register a Seychelles company. I now need to find a suitable bank for the company. I am a British citizen, but am not resident in England or any other country. (I have been traveling for almost 10 years now). Can anyone recommend a bank that I could apply to without having to do so in person. I am currently in Malta. I assume that a bank account outside of the EU would be preferable for tax purposes. If it matters, my business is purely online and im looking for an account that I can operate online and withdraw cash from ATM's.
It seems obvious that I should consider a Seychelles bank. I was under the impression it was considered best practice to bank in a different jurisdiction to where the company is incorporated. I don't understand why it would be. Does anyone know why this is or isn't a good idea?
If you need a personal bank account, the best countries are Seychelles or Cayman Islands. Panama is also a good place!
If you need a corporate bank account...mhh you could consider Seychelles IBC (or Belize company) + cyprus bank account, ora if outside EU, and offshore bnk account (seychelles for example)
I'm excited to have found this forum with such knowledgeable people. Today I submitted an application to register a Seychelles company. I now need to find a suitable bank for the company. I am a British citizen, but am not resident in England or any other country. (I have been traveling for almost 10 years now). Can anyone recommend a bank that I could apply to without having to do so in person. I am currently in Malta. I assume that a bank account outside of the EU would be preferable for tax purposes. If it matters, my business is purely online and im looking for an account that I can operate online and withdraw cash from ATM's.
Thanks for your time.
Regards,
Shima
If you are non resident then why are you opening a IBC? Surely it's cheaper to just accept money into your offshore account. I could understand if you want a business name to display to your clients.
Also regarding banking, keep your money in the EU. If you're non resident then you will not be taxed on any income.
I'm excited to have found this forum with such knowledgeable people. Today I submitted an application to register a Seychelles company. I now need to find a suitable bank for the company. I am a British citizen, but am not resident in England or any other country. (I have been traveling for almost 10 years now). Can anyone recommend a bank that I could apply to without having to do so in person. I am currently in Malta. I assume that a bank account outside of the EU would be preferable for tax purposes. If it matters, my business is purely online and im looking for an account that I can operate online and withdraw cash from ATM's.
Thanks for your time.
Regards,
Shima
It is best to use another jurisdiction for enhanced privacy, yes. And I guess I am not surprised that the registrar for the Seychelles company is not providing a corporate bank account as most offshore firms today prefer to sell corporations and not provide offshore financial solutions that include banking. Frankly it makes no sense to me as without the banking 99% of the time a corporation is of zero value. We are contacted by 3-5 people a week that just bought a corporation and have no idea how to get a bank account for it.
One of the problem you will find is the difficulty opening an offshore corporation when it is not opened/introduced by the same group that creates it. Another example it is very difficult to use a Seychelles bearer share corporation to open an offshore bank account in many jurisdictions without the bank requiring you send them the original share(s) to hold to prevent the anonymous transfer of the company.
You can check out Loyal Bank in St. Vincents if you are not too concerned with privacy as they do not adhere to banking secrecy by their own admission -- however they are pretty easy to open with. Rietumu in Latvia is another option that does not require an introduction -- just takes along time to open, but so does Lloyds or Barclays. I would forget about Panama as you must have a Panama corp or Cyprus as that requires a introduction.
Fine, any one can apply for a Panama bank account but the reality is less than half can open there anymore. I don't sell introductions that cannot be opened.
We have attorneys in Panama who do this for a living and even they state it is very difficult to open a Panama bank account now days. The only accounts we are 100% that will get opened in Panama are the ones opened by our lawyers if they like the clients business and are willing to take the risk...and you more than likely have to go through a correspondent bank which can add days one the time it takes to send/receive.
The days of Panama banking being the king of offshore banks are done and over -- even Panama Legal says it is very hard to open a bank account in Panama and that is why they like banking in Guatemala or Ecuador.
Offshore bank account recommendation
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