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Any one formed offshore company for iOS Developer Company Account?

Discussion in 'BlackHat Lounge' started by ilovelife, Feb 13, 2015.

  1. ilovelife

    ilovelife Newbie

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    I am building a Startup (iOS + Android + Web), and I believe you guys might help in this issue.
    I can only enroll in iOS individual developer program, since company developers need a DUNS number, and in order to get a DUNS number I need to form a Company, S-Corp or partnership business.

    To enroll as iOS Developer (Company), I need to form a company. And forming a company in my country is expensive around $4K and needs around a month. (I am not US Citizen and I don't live in US)

    My application is a marketplace (Buy & Sell then meet offline). No money/payments will be used in the app. It is almost done, and the region is not US, so no I am not trying to build or compete with craigslist or eBay.

    Here is why I would like to enroll as company instead of individual:

    • Hide my real name as seller name.
    • Users might take the application more seriously if it was copyrighted by company instead of real name. It might be a drawback for downloads.
    • Sometimes, users might message me on Facebook, or anywhere. They might also add negative reviews.
    • The platform has reports, suspension and ban of users who are using the marketplace illegally. I don't want some one to be harsh if he got suspended/banned.

    Here are my questions:

    1. The project will have huge marketing and will be viewed by a lot of users including a lot of friends. Do you think it is a drawback to have my real name like AppName by Real Name?
    2. Do you think it might decrease downloads number?
    3. I am thinking of forming an offshore company in Seychelles. Any one formed an offshore company before? Like Seychelles, Gambia, Belize?
    4. If I had to form an offshore company, and app never had any revenue or purchases as a startup, should I also open a bank account?
     
  2. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    Why not simply form a UK company, that's ultra fast and very cheap! So you can get a DUNS number for it quickly.

    In regards to Seychelles, Belize, Gambia etc. I wouldn't do that in the beginning, start with the UK company and you can later on sell the shares to an offshore company if needed. Otherwise, you may want to establish a simple Seychelles IBC or Belize corp. to be holding company and have them to form the UK company, so the structure is in place.. will cost you a little more but's not that expansive.
     
    Last edited: Feb 13, 2015
  3. ilovelife

    ilovelife Newbie

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    As mentioned above, the app won't be making any revenue.
    So what about bank account, taxes, annual returns?
    Also, should I visit the country or it can be formed offshore? And what if I had to dissolve the company later on?
     
  4. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    hmm...question is if the DUNS number is absolute required.. it's going to be difficult I guess to obtain for an offshore company in Belize, Seychelles etc.!

    If it is all just a test and you just need a company that you can liquidate or dissolve quickly if things are going wrong. I would simply start with a Seychelles or Belize corp. you don'
    t need to visit anyone, things are done quickly remote and you atcually don't need to care if you don't need the company any longer.. That said, I would check with the many UK company providers what's required to get rid of the company if you don't make any profits within the 1 year, the benefit of having a UK / EU company it's more trustworthy and you don't risk any trouble with Google, Apple etc. once they pay you.

    For banking I would wait and see if you'r doing any money at all, if so, it's simple to open a bank account remote somwehere, also for a UK company.
     
  5. ilovelife

    ilovelife Newbie

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    I just made a search concerning dissolving a UK company, and it seems to be more/extremely difficult compared to Seychelles. Fees seem to be high and it has a lot of steps.

    Do you think I will be able to get DUNS number using Seychelles IBC? I believe DUNS number is available for almost all countries.
     
  6. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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  7. ilovelife

    ilovelife Newbie

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    Thanks RuthSam for being very helpful so far both here and Panama's post too.
    Just to make sure, did you form an IBC in Seychelles before? And how was your experience? And what about dissolving requirements?
    Last, as asked before, If app had no revenue, am I allowed so form the company without bank account?
     
  8. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    As I mentioned in the other thread, yes I have formed a Seychelles and Belize company before, took 2 days and was done quite good and easy. Never had a single issue neither before or 4 years after. It's not mandatory to open a bank account, not at all, you can do this late at the same costs. In regards to dissolve the company, you don't do anything, just stop pay the renewal fee once a year and it will vanish ;)

    Hope it helps you.
     
  9. ilovelife

    ilovelife Newbie

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    This is what I was expecting
    Last 3 questions:
    - If Seychelles is closer to me and visafree. Should I go for it over Belize?
    - When a company vanishes, can I form it in another country again?
    - Which company you used to form a Seychelles Company? Did you form IBC?
     
  10. RuthSam

    RuthSam Jr. VIP Jr. VIP Premium Member

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    If privacy is important a SC company is what you want, it's pretty cheap and you don't need to worry about much there. If the company is taken off and deleted from the registry you can just open a new one same place, no problem, I have a friend of mine who did this 3 times in a row. I was using this guys to form my IBC. Have used them for 4 years also recommend them to my friends. But feel free to find someone else there are hundreds that can do this.
     
  11. ClickeriOSDeveloper

    ClickeriOSDeveloper Newbie

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    Hi ilovelife,

    has everything worked out fine with the D-U-N-S numbers in SC and Apple & Google?
    Do they payout to your bank account in SC or bank of cyprus(eu)?

    I currently face the same challenges...

    Best regards
     
  12. damturbo

    damturbo Newbie

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    Hi @ClickeriOSDeveloper
    Any news about DUNS for seychelles IBC?
    Will they pay to Seychelles?
    Thanks
     
  13. HBTY

    HBTY Newbie

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    There's no point in incorporating if you aren't generating a decent amount of revenue. And if you do succeed, you can set up another inc. later on.
     
  14. damturbo

    damturbo Newbie

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    what kind of answer is that...
    is it possible to get DUNS for seychelles IBC? and will the pay to seychelles?