Opening corporation and bank account questions

Goran said:

Or I can simple put just me and privacy is still fully protected that way?

This is most often sufficient. I would say that as long as you don't have to sign contracts on behalf of the company you won't need any nominee. A nominee director will most often just make things more expensive and complicated.

Goran said:

- If I have Seychelles corporation + Cyprus bank account, do I need to keep books? If yes, can you explain how that part works, is there anybody who can do that for me?

No need for that. You will receive a form you need to sign, "where books are kept" but no one in this globe will ever ask you to provide such.

Goran said:

- I readed that I can't do any business with Seychelles companies, does that means that if other company is in Seychelles and they have bank account in some other country, they can't send me wire payment from their bank account (which isn't in Seychelles)?

No that's not true. You can receive wires from any country in the world to your bank account! You just can't to physical business in the Seychelles with a Seychelles company. This is most often not a problem at all.

I agree with @auric so far.

Goran said:

- I have readed somewhere that Cypros bank account requires Bank statements (Reference letter). What is this exactly?

Not required if you use a right agent. Otherwise @auric can get you one easily.

Goran said:

Does anybody know if it's possible to open it if company is in Seychelles or Belize?

Belize should work, but I would ask Payoneer directly to get a true answer.

Goran said:

- Company name should be on english, but does it needs to have any meaning on english or its meant on english characters?

It can be whatever you want, they just required a short description of the company name, describe why or what it means.

Goran said:

- If I open company in my country of residence, is it smart to make sometimes transfers between my offshore bank account and bank account of company in my country (of course I would pay tax for amount transferred). I would avoid doing this but interested if there is any difference between doing it or not.

If you do so, you reveal your offshore company to the public and it will be easy to connect your name with the offshore company. Most will want to avoid this!

Goran said:

- If one day I change place of residency, or country of residency what I will have to do?

Nothing, you just need to inform the bank about it. If you don't do it doesn't matter actually they will not note it anyway!

Goran said:

- If I start company/bank formation with offshorecorpgroup.com would they help me with getting anything else I might need after few months or years (not for free probably but still good). Just want to know that I am not left in black after few months

Well if you need help why would they not work with you? Or any other agent?

Goran said:

@Admin so if I don't make any connection at all beside company in my country and offshore company nobody from my country would never know I have offshore?

That's actually true so far. Of course it requires that you don't go and sign any contracts or anything on behalf of the company, otherwise you will need to appoint a nominee director to avoid your name appear in such an contract!

Goran said:

somehow to get payoneer account with your service @auric ?

It is no problem to openan payoneer account with the documents I can provide! I have done that a few times and a few of my customers are using the docs for the same.

Payoneer works just fine with the docs! Didn't had a problem in August when I opened a Payoneer corporate account!

You can hit me up any time ;)

Goran said:

- Is it possible to make more debit cards with some bank? It would be handy for me that I can open/close as many as I need debit cards for business purposes (advertising), is there a bank which would make some deal for those things?

You mean a service like Entropay? you can do what ever you want to do with your offshore company there is no one that set any limitations.

Goran said:

- Is Cyprus bank account totally safe, I mean is it possible that somebody from my country ever found that I have company and company bank account?

Well, in the world we live in there is nothing that is 100% safe for ever! Tomorrow the rules of the game can change and we will have a new situation. However, so far the banks in Cyprus will not report any foreign accounts hold by a Seychelles company. I would say this will stay so at least the next 2 or 3 years. But don't take my word as a guarantee!

Goran said:

- Also, is it possible to open more bank account with same corporation, and then to do wire transfers between those bank accounts?

Yes sure it is not a problem at all. As already mentioned you can open as many bank accounts as you like. As soon as you have the incorporation documents no one else then you will control and manage the company!

No it does not report accounts.

There are a few threads already about it, however, below is the information:

Banks have to report in compliance with CRS.

CRS recognizes 2 types of companies:

1. Active Companies
2. Passive Companies

An Active Company is the company that meets any one of the following criteria:
(a) Less than 50 percent of the company's gross income for the preceding calendar year or other appropriate reporting period is passive income and less than 50 percent of the assets held by the company during the preceding calendar year or other appropriate reporting period are assets that produce or are held for the production of passive income;

(b) The stock of the NFFE is regularly traded on an established securities market or

(c) Substantially all of the activities of the Company consist of holding (in whole or in part) the outstanding stock of, or providing financing and services to, one or more subsidiaries that engage in trades or businesses other than the business of a Financial Institution

A Passive Company is a company that is not active. Basically it includes companies that have income from investment activities like dividends, interest, rent and royalties.
The beneficial owners of an Active company will not be reported by the bank

The beneficial owners of a Passive company will be reported by the bank.
So, if the company is an active, then no reporting will be made by the banks.

Hope it helps.

Have you tried entropay.com ? I know they have been used for this at many places.

So there are these guys simplevcc.com I have also been working with them for a short period.

Well, you pay €5 for an IBAN transfer up to €30 for a SWIFT transfer and aprox €50 every 3 months for account maintainance. That's the price for an offshore account. There are banks in other jurisdictions that charge twice these amounts.

Alternative banks would be EuroPacific Bank, ABC bank mauritius (requires min. 10k USD deposit) and some of the Belize banks. Sadly the Baltikums bank went out to be a scam..