FAQ

About offshore company

Offshore companies. Offshore zones. Offshore jurisdictions. Ready-made offshore. How to register an offshore company.

From our experience we have found that many customers have a lot of questions that are quite common. Here we will try to answer the most typical questions about offshore companies and how to register an offshore company.

What is an offshore company?

Well here is the Answer…

It is a legal entity registered in an offshore jurisdiction. The essence of any offshore is minimisation of taxes, enhanced privacy and asset protection.

Who needs an offshore company?

Well here is another Answer…

Entrepreneurs who are seeking to optimise their taxes, move money to a foreign bank for capital accumulation and protection will be interested to register an offshore company. An offshore company owner can be an individual of any nationality and tax residency.

What is an offshore zone?

Well here is another Answer…

An offshore zone is a country that offers preferential tax treatment to non-residential companies. A classic offshore completely exempts offshore companies from taxation. The main condition for obtaining tax benefits is to conduct business activities outside of the offshore zone.

What countries can be use for offshore company registration?

Well here is another Answer…

There are many different jurisdictions for offshore companies registration, however to chose the right place it is better to have a professional advise. Contact us and our consultant can advise you the best solution for your needs.

How to open or register an offshore company?

Well here is another Answer…

In order to register an offshore company, you need to contact our consultants who will help you to choose the most suitable offshore jurisdiction for you and your business, as well as help to prepare the necessary documents for company registration.

Is it better to buy or register a new offshore company?

Well here is the Answer…

Both options are acceptable and can be beneficial for your business. The decision to buy an offshore company or to incorporate a company from scratch depends on the goals and objectives that you pursue in your business. It is much easier to buy from a list of ready-made offshore companies. Buying a ready-made offshore company gives you the opportunity to immediately get your hands on the documents of already registered offshore company and immediately start using it. To register an offshore company, you must complete the registration process, which may take some time.

What do I need for an offshore company formation?

Well here is another Answer…

In most of the offshore jurisdictions in order to buy an offshore company it is simply enough to present a passport and a proof of address.

Offshore company formation – how long does it take?

Well here is another Answer…

The time it takes for an offshore company formation depends on the rules and legislations of the jurisdiction where you are planning to register an offshore. In many jurisdictions offshore company formation procedure takes about 2-3 days. But the preparation of documents for registration (notarization, registration of documents, appointment of directors or nominee, power of attorney etc.) takes up to 4 weeks. If your time for an offshore company formation is limited, then the solution way is to buy a ready-made offshore.

Offshore company formation – is it legal?

Well here is another Answer…

Yes. The owner of the offshore company is as legally protected as a business owner in the country of tax residence. The only difference is low or zero tax when owned by an offshore company, as well as the absence of high start-up costs. There are no laws prohibiting possession of an offshore company.

What determines the price of an offshore company formation?

Well here is another Answer…

Price of an offshore company formation depends on the chosen jurisdiction. Each offshore zone is characterised by its own specifics and regulatory framework, so the prices of offshore company formation will be different. In addition to the registration fee, state fees and other fixed payments of offshore company, there is a cost of services of local registered agent, whose function is to perform as a lawyer with a license to register offshore companies in a given jurisdiction. Excessive “savings” on the services of the registered agent may lead to possible errors and omissions in the registration of the offshore company. Only credible experience and expertise of a licensed agent can be a guarantee of safe and timely registration of the company. Therefore, when choosing a company you should be alert when choosing too “cheap” services contractor.

Can we buy or register an offshore company without personal presence?

Well here is the Answer…

Yes it is possible. You can register or buy an offshore company without personal presence, while respecting confidentiality, which is in the modern conditions is quite simple. The registration of companies can be carried out via the Internet, and documents confirming registration will be sent to your address. In addition, it is possible to provide you with a nominee services immediately, so your name isn’t mentioned on the documents of registration. Therefore, it is not necessary to visit the country of registration, but there may be times when you choose to control the process of incorporation of the company and would like to be present.

What are the legal documents confirming the ownership of an offshore company?

Well here is another Answer…

The list of documents confirming the ownership of an offshore company in each jurisdiction may vary and, in addition to all, it depends on the type of the offshore company. The legal proof of ownership of the company certificate is issued after the registration. If you use a nominee service, the additional legal proof that you are the owner of the company will be required with the following documents: 1) Declaration of Trust, 2) Agreement on the nominee service, 3) the Act on the transfer of shares, 4) declaration of the beneficial owner .

How to prove the existence of offshore company and it’s real activity?

Well here is another Answer…

To verify the actual existence and operation of an offshore company, you must order certificate on its state – Certificate of Good Standing in the country of its registration.

How to extend the power of attorney?

Well here is another Answer…

Along with the extension of the company, i.e. with an annual payment of state fees, legal address of the company, registered agent services and services of nominee, directors carry out an extension of powers of attorney. The power of attorney is issued only after payment of the required annual payments.

An offshore company is no longer needed. What should I do?

Well here is another Answer…

Each jurisdiction addresses the issue in different ways. The easiest way is to carry out a formal procedure for liquidation of the company and pay the necessary fees. But many tax-free jurisdictions do not apply any restrictions against business owners who do not want to go through a formal registration procedure, wanting to “save” on the State Duty. In this case, when the owner of the company ceases to pay annual fees for the renewal of the company, after a while the company is simply removed from the register of companies. A slightly different situation is in high tax jurisdictions: it’s impossible to quit the company by not paying for extensions and without submitting the financial statements. In most European countries, such behaviour is punishable by administrative owner of the company and, in some cases, the company owner can be criminally punished. Therefore, in such jurisdictions, the procedure for the official liquidation of the company should be carried out without fail.

Can you sell an offshore company to another person?

Well here is another Answer…

As with any company, an offshore company can be sold, but it is necessary to consider some nuances. An offshore company has a specific structure, which is being developed for a specific owner and his business. Therefore, the company can only be sold to those entrepreneurs who have a complete picture of your company, its direction and financial capacity, in order to avoid financial debts and any other problems.

What information about the company can a third party get from the Register of Companies?

Well here is another Answer…

In the classic offshore a third party can only get information about the company’s name, the date of registration, legal address and the name of the registered agent.

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