Please click on the following Frequently Asked Questions below for more information regarding Offshore Company Formation.
Is setting up offshore illegal?No, setting up offshore is not illegal. However, withholding information about your offshore investments is illegal in some countries. An offshore jurisdiction should be perceived as just another foreign country, but with certain advantages. These can take the form of banking secrecy laws, advantages in forming companies for international trade through tax treaties, no interest tax, no inheritance taxes, no capital gains tax, no individual tax, and many others.
Depending on your personal needs or preferences, there will normally be one or more offshore jurisdictions offering the services you are looking for.
Is offshore only for the rich?This might have been so a long time ago. However, in this modern age with the high quality of services offered, offshore is now a relatively simple and affordable procedure for almost anyone. Once having moved all or part of your business offshore, the savings made by the low-tax or tax-free status opens up a whole new world of investment and business opportunities.
Can I move my existing business offshore?Some companies move parts of their business offshore almost immediately as separate subsidiaries and profit centres. However, you will need to look at your business with a view to re-structure your activities and maybe look for new business opportunities on a cross-border basis into other countries. The possibilities are quite extensive, our partners are able to assist you when it comes to applying offshore advantages to your existing company operations.
Where do I start?Start with a Business Plan and a budget, as maintaining an offshore company requires paying an annual registration fee. Do you want to set up a small trading company, or an international empire? Do you want to sell your product on the internet? Decide on your target market and the types of currencies you want to accept. You may first wish to set up a Virtual Office to test the market with your product. The flexibility in moving offshore will automatically open up new possibilities for you and your business.
How do I find the right jurisdiction?This depends on what the corporation is going to be used for and your own personal or business circumstances. If you don’t have a personal preference or a recommendation from a friend, please contact us for suitable suggestions. Our partners will be able to help you make the right decision to match your budget and personal requirements. Alternatively, please feel free to use our Jurisdictions section for further information.
Some important factors to consider when choosing a suitable jurisdiction: Incorporation & annual maintenance costs, the tax regime, legal system, confidentiality, exchange controls, banking facilities and the political and economic stability.
The 5 Golden RulesWhen purchasing a company it is important to remember these 5 Golden rules:
1. Choose a respectable corporate services provider which has a physical office you can visit to discuss your requirements in confidence.
2. Choose a recognised bank in a stable country and ensure that they will accept instructions by fax or offer internet banking services
3. Beware of general costs such as "Disbursements" and "Other Expenses"
4. Deal with a company whose office is located away from your country of residence - as your personal records will be kept there.
5. For maximum confidentiality, try to ensure that the company and the company's bank account are located in 2 different jurisdictions.
Yes, there are many advantages including: Anonymity, asset protection, foreign property holding through a company in a third country, limiting of liability in business transactions, unrestricted flow of capital, transfer of assets etc. etc.
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