Any offshore experts in here?

Hi

So recently my friend has formed a company in the Seychelles ( they are from the UK ). Before anyone makes any judgments they own two UK business and pay the taxes. For this company they are soley dealing with a US customer and have no dealings with the Uk.
They would like to know the best way to go around banking, looked at various options but seems very strict with monitoring every outgoing transaction.

- Is there such a thing as annoymous pre paid debit card which can be used to purchase online and shops, which isnt tied to an individual? If so where can you buy?
- Any recommendations for banking options for a company based in the Seychelles?

If you cannot finder answers here, probably it's a good bet to try on https://www.offshorecorptalk.com

LeioneSEO said:

Hi

So recently my friend has formed a company in the Seychelles ( they are from the UK ). Before anyone makes any judgments they own two UK business and pay the taxes. For this company they are soley dealing with a US customer and have no dealings with the Uk.
They would like to know the best way to go around banking, looked at various options but seems very strict with monitoring every outgoing transaction.

- Is there such a thing as annoymous pre paid debit card which can be used to purchase online and shops, which isnt tied to an individual? If so where can you buy?
- Any recommendations for banking options for a company based in the Seychelles?

Click to expand...

Not sure if @islandman1010 might be able to suggest for you.

Worried about taxes ? Tell clients to pay in crypto directly into a decentralized wallet. Oh, worried about crypto volatility ? Keep all crypto in USDT, etc.
I know the above may not be practically possible for all, but many people are doing it that way. If one understands crypto and blockchain properly, then setting up offshore is a thing of the past. Anyways, no arguements on that, as you perhaps have a lot of money to waste on setting up companies offshore thinking that you would avoid taxes or pay lesser taxes ? My dear, you seem stuck in the 80's and 90's. But, yeah, no arguements ... I am wrong and you are right.

They opened a company in the Seychelles with no planning as to how they are actually going to utilize it. Interesting.

Banks that will open an account for a company in the Seychelles (off the top of my head, do your due diligence):
DBS & OCBC in Singapore
Caye in Belize.

It all depends on how much cash they have. If you can put 10M a year through an account, any banker will open it. My recommendation would be a Swiss bank but they expect big numbers. Otherwise, I'd go for SG.

Raj Kesu said:

Worried about taxes ? Tell clients to pay in crypto directly into a decentralized wallet. Oh, worried about crypto volatility ? Keep all crypto in USDT, etc.
I know the above may not be practically possible for all, but many people are doing it that way. If one understands crypto and blockchain properly, then setting up offshore is a thing of the past. Anyways, no arguements on that, as you perhaps have a lot of money to waste on setting up companies offshore thinking that you would avoid taxes or pay lesser taxes ? My dear, you seem stuck in the 80's and 90's. But, yeah, no arguements ... I am wrong and you are right.

Click to expand...

What are you on about lol.

No they can't request a multimillion dollar organisation to pay in crypto for their services.

If you'll yolo this by yourself, you'll get burned 100%. Hire professionals, ideally more than 1 so you can compare opinion. For start you can try these guys: digitasfinance.com (not affiliated, never used their services).

I can save you some headache right away and tell you that the only foolproof way to legally nuke your taxes is to move your tax residency to a 0% or low income tax country, where you'll "have to" spend at least 6 months per year (common requirement, could be more). If you are American, you'll also want to get rid of your citizenship, because uncle Sam taxes all your worldwide income, even if you are not US tax resident (not sure how they call it). If you only want to get rid of corporate taxes, then you have many options, but you can't work for your company remotely from a high tax country, because your taxman will interpret it as an extension of you, only created for tax optimization, and tax it as if it is your own local income. Most of the time, when people have "a system in place", it only works because they have not been audited yet or are too small of a fish.

In my opinion, best solutions are those that offer very low, almost zero, if not actually zero taxation for a specific type of business, but are not considered your typical well known offshore tax heaven countries. I would never incorporate in Seychelles for example, this just calls for audit and harassment (not against the corporation, but you, the owner).

Anonymous credit cards are a thing of the past.
If that's possible, I would suggest to start a company in Dubai, there will be many more banking options.