Gazebo - Seychelles

[calib]

Hi

Just enquiring has anyone used a group called Gazebo for their contract invoicing?

Specifically the overseas structure where their UK company bills the full project value and pay say a 20% PAYE salary to the contractor. 80% of contract value then shifts via some currency hedging mechanism to a company in the Seychelles. You are then issued a no-name Visa Debit card (via Seychelles bank) to draw down from these retained earnings. Net fees for such a structure are around 12%.

Interested if anyone has experience with such a structure?

Cheers
Cal

[NotAllThere]

Why is it we so often get newbies asking about these schemes, seemingly incapable of searching to see whether it has been discussed before and finding out for themselves it's widely regarded as a singularly bad idea.

I'm beginning to get suspicious.

[northernladuk]

Why is it we so often get newbies asking about these schemes, seemingly incapable of searching to see whether it has been discussed before and finding out for themselves it's widely regarded as a singularly bad idea.

I'm beginning to get suspicious.

You feel my pain huh. Does that mean you will be giving out infractions to everyone that flames me for using the 'Go search the forums' advice??

[Support Monkey]

Must be one of those days, thats the second one this afternoon

[northernladuk]

Many thanks to the OP for giving us so much information even if we did think this might be a genuine request on and genuine scheme. Must be a prospective Darwin awared winner to call a company 'Gazebo' in the Seychelles. I can bet my bottom dollar those two words will bring back a couple of million hits and not their company. Almost as bad as calling it Sea based in the Seychelles. I think they can rule out and SEO.

[ChimpMaster]

Hi

Just enquiring has anyone used a group called Gazebo for their contract invoicing?

Specifically the overseas structure where their UK company bills the full project value and pay say a 20% PAYE salary to the contractor. 80% of contract value then shifts via some currency hedging mechanism to a company in the Seychelles. You are then issued a no-name Visa Debit card (via Seychelles bank) to draw down from these retained earnings. Net fees for such a structure are around 12%.

Interested if anyone has experience with such a structure?

Cheers
Cal

Jeez at least have a modicum of intellect to provide a better cover story than this

[calib]

Amusing, but utterly useless advice

You guys do provide amusing responses, but in the end there wasn't a constructive piece of advice amongst the lot of you.

Prior to posting I of course did a variety of searches, for both this firm in particular and the fx loan scenario, there was very little information returned. Found one other so-called 'firm' offering something similar.

My actual enquiry was if anyone had experience working with Gazebo - they sound very suspect to me, but others may have actual experience.

[geoff from contracta IOM]

You guys do provide amusing responses, but in the end there wasn't a constructive piece of advice amongst the lot of you.

Prior to posting I of course did a variety of searches, for both this firm in particular and the fx loan scenario, there was very little information returned. Found one other so-called 'firm' offering something similar.

My actual enquiry was if anyone had experience working with Gazebo - they sound very suspect to me, but others may have actual experience.

In short it isn't legal and won't work

HTH