Offshore Company Incorporation

Offshore company incorporation can be done for different offshore companies in countries around the world which offers offshore companies. Offshore company incorporation must be supported by the appropriate offshore companies’ legislation in the respective countries before offshore company formation can be considered. Offshore company incorporation is done for these types of offshore companies: offshore limited liability companies, offshore partnerships and International Business Companies. The International Business Company is the offshore company which most popularly known and simply referred to as an offshore company and because of this there is a tendency to regard to all other types of offshore companies as International Business Companies.

The International Business Company whose name can differ in some jurisdictions is simple business company which can be used for business purpose in many countries in the world. The International Business Company can be incorporated in any of these very competent offshore jurisdictions; Dominica, Anguilla, Belize, Bahamas, Antigua, St Lucia, St Kitts and Nevis, Seychelles and Barbados. Offshore jurisdictions such as British Virgin Islands, Cayman Islands, Panama and Singapore allows for the formation of a similar offshore company (structure, powers and incorporation process) which has a different name. The British Virgin Islands Company for instance is simply called the British Virgin Islands offshore company.

The international Business Company or offshore company has a structure which is comparable to that of a regular business company. For offshore company formation of an International Business company directors and shareholders are needed. In order to incorporate such as company at least one shareholder and the same number of directors are needed except in those jurisdictions such as Panama where legislation requires that more than one (1) company director is needed for offshore company registration. This type of offshore company is structured in such a way that the same person can hold the position of shareholder and company director. Offshore legislation in many offshore jurisdictions dictates that the shareholders and company directors of offshore companies must not be residents of the country of incorporation.

The offshore Limited Liability Company can be incorporated in the offshore jurisdictions of Isle of Man, Nevis and Delaware. The offshore limited liability company is made up of members and for the formation of this offshore company one (1) or more members is needed. The management of offshore limited liability companies is the responsibility of the company members however the members of the offshore limited liability company can agree to hire a manager from outside of the offshore company. Offshore Limited Liability Company like an IBC can also be sued for business anywhere in the world.

The offshore partnership or limited liability partnership can be incorporated in the following offshore jurisdictions; Singapore and Bermuda. The offshore partnership is structured so that the corporation is made up of limited and general partners. In the offshore jurisdictions one or more general and one more limited partner are needed for the formation of an exempt or offshore partnership. The partners of an offshore partnership make contributions towards the company and are only liable for the offshore partnership debts based on the extent of their contributions.

Offshore companies are given preferential tax treatments in most jurisdictions. The offshore jurisdictions are considered to be tax haven where little or no tax systems are in place by offshore companies. In most offshore jurisdictions offshore companies will pay no taxes on income gained outside of the country of offshore incorporation. There are very few offshore jurisdictions which levy local taxes on offshore company and when this is done the percentage paid is minimal. Offshore company incorporation has its benefits by the tax savings gained through offshore company may well outshine any other offshore company benefits.