Good day
Looking for some advice on setting appropriate structure please - subscribed to Mentor to maximise advice I'd be getting :)
I am looking at setting up a holding company that will belong to 2 individuals (1 French, 1 South-African), both residing in South-Africa.
Ownership is 67%-33%.
The purpose of such holding company (company A) will be ownership of assets (buying properties), trading companies and, if possible, some internet shops trading.
Bank account need to be setup for company A, and although no salary will be paid out of there, but dividends may from time to time.
Online banking with forex is a must.
Trading company(ies) (X, Y, Z) may be created separately if trading directly under A is not possible - and they will therefore need their own bank accounts.
Privacy is not the main issue, but taxation is. Unless privacy may be an issue down the line for whatever reason, including taxation, we do not care about privacy per se.
We initially set our sight on Seychelles (its cheaper than other options and seems to tick all boxes), but the burden for opening a bank account delivering on our requirements seems heavy.
Mauritius may be another option, although we'd go from no tax to speak of to some level of taxation.
Any suggestions to get company A and its bank account going?
What about companies X, Y, Z?
You could consider to go the path of setting of a Belize company which will be resident in Cyprus so the Cyprus bank will consider to open an account for such entity. It's not a guarantee but it's possible.
Beside that you are looking into a Seychelles company because it's cheap and check all boxes, this lead me to ask you, are you on a low budget for all of this?
Not particularly low budget, but certainly don't want to pay more than necessary.
Besides I know nothing about setting up Belize corporation or Cyprus's bank account - off to more reading I guess.
Seychelles and Mauritius were attractive cause close to us geographically, and we know the banks in Mauritius are reputable.
The main challenge, after the bit of reading I did on the forum, is the opening of a bank account.
Is there no company that will reliably facilitate such? Again anonymity is not a challenge.
Moomoo said:Is there no company that will reliably facilitate such? Again anonymity is not a challenge.
You can't get any guarantees as you already may have read a hundred times on the forum. What you can do is to travel to Mauritius find a law firm and let them take you by hand to setup the company and bank account IF they agree to do that for you.
Alternatives are to travel to Dubai and setup a company with banking there or finally Georgia - both are mentioned a lot of times here on the forum. If you are searching for guarantees then you have to travel and make use of a law firm a certified accountant. It may be not the cheapest solution but it's the most secure solution to get what you seek.
I dont mind travelling to Mauritius, i'll do some research on firms that provide those services on the ground.
You want to check with AfrAsia Bank Mauritius ”“ Personal, Private, Corporate and International Banking if they are able to open an account for you, it seems with the right introducer it is well possible.
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