Panlegis offshore company formation SCAM and FRAUD BEWARE

Panlegis is known for commiting company scams and fraud against its clients and its investors. Panlegis has a website on Incorporation services and company formations with Panlegis and is probably one of the biggest fraud company in Malta. Panlegis has been operating without financial licenses and has been taking client funds without being regulated by the MFSA.

Panalegis is calling people mainly in Sweden and Norway trying to sell them companies that they never incorporate for the clients after they receive the funds.

Panlegis has a call center where they are calling people all over Scandinavia in order to close sales quickly and receive funds from people without ever delivering a product.

If you EVER get a phonecall from Panlegis in Malta make sure that you do NOT give them your credit card information as they will empty the credit card for any fund available and deliver nothing that was promissed. Beware of fraud and scam from Panlegis.

Well, that isn’t sound true at all. I have used PANLEGIS services many times and I found it quite effective as well as reliable. There is no doubt of their efficient services as the company has incorporated more than 10,000 companies and branches across the world.

Until yet I have not found any kind of problem with PANLEGIS at all…the services are safe and secure, as I have been actually using the services for years.

I would not consider Julians reply of any value. First of all you need to know that the new office of Panlegis is located in St. Julians, Malta. Secondly you just look at this post of Julians in another thread and you know that this is written by Panlegis:
http://www.rolclub.com/conventional-...-services.html

But putting the initial Fraud scam a bit into perspective. First of all you do not need to be licensed by the MFSA - Malta Financial Services Authority for providing a company incorpoartion service. You are not handling client funds doing so. You are just taking money for the service you provide or in some cases dont provide.

In General it is correct that Panlegis is very aggressive in calling people trying to sell a product. as with any such calls, its up to the individual to accept a proposal, seek further advice or decline. It is generally not advisable to hand out your credit card details to anyone you dont know for a product that you dont know anything about. If you do, you have to live with the consequences.

If you are selling 1000's of these companies you have a ntaural filaure rate. Simply because sometimes the name is rejected (something that should be checked befo*****d), trouble with the electronic filing etc etc. . The problem here is simply that Panlegis has only a hand full of people that actually work in support. To do an efficient and caring service you need abou 10 times the amount of staff! Hence a lot is overlooked, not take care off or simply forgotten. Its not exactly fraud, but in the end is the same result. No product and money taken.

There is nothing wron in general to open a NUF or SUF its a good solution, but you need to know if this solution fits you. If you ask a Panlegis sales person specific questions, they would only be able to answer with the standard sales talk. Most of them are not professionals with business experience. Or what do you really think a 20-25 year old sales guy hanging around in Malta for a quick buck knows about SUF or NUF and the implications about your business? I think there is no need to answer that question.

So here are the simple steps to avoid problems:
a) Check out the company that is offering the service online first. Be sure that you understand what the offer is. Never hand out your card over the phone, unless you are the one initiating the call.
b) Only order online and pay if possible by paypal. They have the best scheme for refund of not provided goods.
c) Ensure with your accountant that having a NUF / SUF makes commercial sense. In most cases it does.
d) Ensure that the price offered includes all the documents required to register your foreign branch in your home country.
e) Never ever believe any salesman that calls you. They have no clue, if they would they would not be hanging on the phone to you.

If you dont get what you order request a chargeback from you local bank. If you have requested a chargeback after a company was sold to you, you have to make sure that the company is struck of the register.