Offshore Companies Registrations
Offshore companies registrations are done in may offshore jurisdictions around the world. Offshore companies registration does not require much work and can be done in hours in most offshore jurisdictions. Offshore companies registrations can be completed in Dominica, Belize, Anguilla, Bahamas, Seychelles, Dubai, Nevis, St Kitts, British Virgin Islands, Cayman Islands, Panama, Singapore, Hong Kong and Gibraltar among other jurisdictions. Offshore companies registrations can be done for International Business Companies (IBCs) more commonly known as offshore companies, Limited liability Companies, offshore partnerships and offshore entities such as offshore foundations and trusts.
The requirements for offshore company registration are not many. For starters, in many offshore jurisdictions the first requirement if finding a registered agent who will have the responsibility to file the company registration documents in the registering authority in the jurisdiction. The registered agent is a person or business office who has been granted an official license by the government or other authority in a jurisdiction to carry out offshore services to clients. In most offshore tax haven offshore company registration will not take effect if a registered agent is not used during the incorporation process. Registered agents in most offshore jurisdictions are normally lawyers, solicitors or offices specializing in providing offshore services. Jurisdictions which dictates that registered agents be used for offshore incorporations include Dominica, Anguilla, Belize, Nevis, and other offshore tax havens.
Offshore companies registration in most offshore jurisdictions needs a minimum of one shareholder on many offshore jurisdictions. The shareholders of offshore companies can be of any nationality above the age of eighteen. Some offshore jurisdictions require that offshore company shareholder should not be someone who has filed for bankruptcy. Some offshore jurisdictions require that the names and addresses of offshore companies’ shareholders be stated in the Memorandum of Association while others do not require that this be done. More than one shareholder can be used for an offshore company.
Offshore company directors can also be one person in most jurisdictions however there are some which makes exceptions. In the offshore tax haven of Panama the minimum number of directors needed for offshore company registration is three (3) and corporation can be used as company directors. Many offshore jurisdictions allows the use of corporations as company directors but others are adamant that only individuals can be used as company directors. As with case of listing company shareholders in some jurisdictions the names of offshore company directors are also requested to be placed in the Memorandum of Association. In most offshore jurisdiction the shareholders and director of an offshore company can be the same individual.
Offshore company registrations have a few regulations which must be followed at all times to ensure that company registration is successful. For instance the names of the offshore companies should not be a name which has already been used for registration by another business corporation. Each offshore company name must be unique. The registering body in the respective jurisdiction will not effect company registration for offshore companies with names which are considered to be offensive. The following words or phrases cannot be used in offshore company names: Chamber of Commerce, Imperial, Insurance, Assurance, Investment Fund, Building Society, Trust, Reinsurance and University. It’s advisable that the following words or abbreviations be used at the end of offshore companies’ name: incorporated, Corporation, Sociedad Anonima, Société Anonyme and Limited.
If all the requirements are met for offshore companies’ formation the registering authority will issue a Certificate of Incorporation to the offshore company making it a legal entity. Offshore companies like an ordinary company can conduct its operations anywhere in the world. There are jurisdictions which prohibits offshore company incorporated in the jurisdiction from carrying out business with resident of the jurisdiction or from within the country.