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Offshore Company Registration
Offshore company registration may take place in many tax havens, we analyzed best of them. Offshore company registration is a very easy process which needs as little as one working day in many offshore jurisdictions. The improvements made in telecommunications over the years make it very easy to register an offshore company online or via telephone. Offshore company formation takes place in the following countries or offshore jurisdictions; Cayman Islands, Bahamas, Bermuda, Seychelles, Vanuatu, Dominica, Belize, Anguilla, Mauritius, Barbados, St Lucia, St Vincent, British Virgin Islands, St Kitts and Nevis and Hong Kong among others.
Offshore Company Incorporation Process
The process of offshore company registrations in offshore jurisdictions more or less follows the same procedure. For company registration a Memorandum of Association and Articles of Association must be prepared on behalf of the offshore company and this must be submitted to the Registrar of Companies or the authority responsible for offshore company registrations in the jurisdiction of choice. If approved a Certificate of Incorporation will be issued to the offshore company. Please take note that the name of these documents may differ in some countries. The information which is submitted to for offshore company is:
- The name of the offshore company or limited company
- Registered address
- The name and address of the registered agent or company formation agents
- The purpose for forming the offshore company
- The number of shares which will be issued
- The types of shares which will be issue
- The names and addresses of shareholders
- The names and addresses of the directors of the offshore company
- The rights and privileges attached to each type of share
- The par value of each share
- Some jurisdiction dictate that the date by which the company will be dissolved be added
- The by -laws of the offshore company
Offshore Company Formation Requirements
Many offshore jurisdictions insist that the registration of offshore companies be done by registered agent. This is stipulated in offshore legislation of many countries especially those in the Caribbean. A registered agent is a person or organization who has been licensed by the relevant authority in an offshore jurisdiction to offer offshore services to clients. The registered agent has the responsibility of preparing the documents for offshore company registration and filing them with the Registrar of Companies. Using a registered agent makes offshore company registration much easier as this reduces the needs to travel to the offshore jurisdiction to file documents.
There are different offshore companies (incl. UK companies) which can be registered but the most frequently registered offshore company is the International Business Company which is most commonly referred to as an offshore company. Offshore limited liability companies, offshore partnerships and offshore limited liability partnerships can also be registered as offshore companies. In some jurisdictions offshore companies are referred to as exempt companies.
Offshore Company Registration Benefits
Offshore company registration has several benefits essential of these are the tax benefits. Most companies registered as offshore companies are not allowed to carry out business operations within the jurisdictions. Offshore jurisdictions such as Panama permit offshore companies to carry out business in and out of the jurisdiction. All offshore companies which do not have business operations in most offshore jurisdiction are not taxed on funds which are gained outside which means that all capitals which are made are kept by the company. Offshore company can also be used for asset protection
The price of offshore company registration varies from one jurisdiction to the next. When going through with offshore company registration clients must choose the jurisdiction with the best services and legislation in place which will protect their offshore companies as well as the client’s investments.