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The Organisation For Economic Co-Operation & Development OECD
Accountancy requirements for Seychelles and Belize Companies. Although we have sent emails to all our clients regarding rule changes to Seychelles and Belize IBC Companies, we feel it necessary to repeat the changes to keep our clients informed. It is now a requirement for clients to keep accounts for Seychelles and Belize IBC Companies.
It is my belief that the quoted jurisdictions introduced this requirement to placate the OECD, who is on a mission to make IBC jurisdictions compliant with OECD requirements. Tax unification Pressure from the OECD comes mostly from the USA and European Governments. What never ceases to amaze me is the need of the USA to control international tax affairs. One of the biggest suppliers of cheap IBC (offshore companies) are the Americans! ( Delaware Companies) Amazing! but not unusual for the USA.
So, what are the alternatives? The obvious one is to keep accounts. I have always recommended that clients keep accounts, but my concern is, will the OECD soon want clients to keep accounts? The second alternative is to consider changing the jurisdiction to a non OECD member country such as, UAE. Please contact us for details on UAE (RAK) Ras Al Khaimah Companies.