If yours is the likes of a gaming or pharmaceuticals business frowned upon in the UK or in certain reputable offshore jurisdictions you may find it hard to operate your company. Fortunately Belize is the one offshore centre where legitimate yet difficult to place businesses can incorporate and bank.

In the past those who have quite legitimately attempted to run the likes of gaming or pharmaceuticals companies have found it incredibly hard to get company formation and bank account solutions.  The prejudices such companies face regularly makes it difficult for them to effectively run the financial side of their business, and as a result some look offshore for help.

However, favourable and respected jurisdictions such as the Seychelles can also err on the side of over-caution when it comes to such types of so-called ‘difficult to place’ businesses, and as a result companies can be crippled and restricted. 

The good news is that a respected provider of offshore solutions has recently managed to negotiate the creation of a perfectly suitable structure for these types of businesses.  So, for those who are legitimately involved in the legal side of the adult, gaming or pharmaceuticals industry, read on to learn how your business could finally operate with confidentiality offshore.

By the very nature of the activities that these ‘difficult to place’ businesses promote or are engaged in, there is often a need for the companies’ owners to have confidentiality and personal privacy.  As a result, when looking onshore for solutions they are not only faced with critical operating restrictions sometimes, they can be faced with the fact that their activities will be too well documented for comfort.

Please note – we are not talking about businesses which undertake illegal activities here, we are talking about businesses which are often frowned upon by the general public such as betting or gambling websites for example…

By their very nature, the people who operate such companies often prefer to keep quiet about their activities, and this can naturally lead to them looking offshore to gain an extra layer of privacy for their business.  However, as stated, many of the best, most legitimate and respected offshore jurisdictions also frown upon these types of companies.

Fortunately however, one of our preferred solutions providers which already offers company formation and offshore bank accounts in Dubai, as well as offshore solutions in the Seychelles and guaranteed offshore bank accounts in Cyprus has managed to negotiate a secure structure that can work to provide potential tax efficiency, confidentiality and significant flexibility for difficult to place businesses.

The solution they have created consists of a Belize IBC with an offshore business bank account, featuring nominee directors and shareholders.  The benefits and potential suitability of this solution may depend on an individual’s requirements and position for example – but generally speaking they include the fact that you can gain absolute confidentiality as the beneficial owner of a Belize IBC because your name does not go on any public record.

Furthermore Belizean IBCs are tax-free, (although an individual’s personal tax-status always dictates one’s requirements for financial reporting), there is no requirement to file annual accounts locally, there is no extra cost to form the company to an individual’s choice of name, Visa debit cards are available with the business bank account, and as a member of the British Commonwealth Belize is considered a reputable offshore centre.

If yours is a business not accommodated by other onshore or offshore jurisdictions this could be the perfect solution for you to explore.  To find out more please contact us to be put in direct touch with a third part adviser who will assist and advice you in confidence. 

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