Register an Offshore Company
Offshore company registration can be done in many countries around the world. To register an offshore company has many great advantages which are well suited for the present economic crisis which the world is facing.
To register an offshore company has benefits for persons who are keen on tax planning. An offshore company is incorporated in a tax haven and tax havens are those countries or territories which have very low tax schemes in place for offshore companies. Some offshore tax havens have zero taxes levied on the annual profits of offshore companies whilst others have low tax rates applied. Offshore tax haven to register and offshore company and take advantage of zero taxation includes Dominica, Anguilla, Belize, Panama, Nevis, St Kitts, British Virgin Island, the Bahamas, and many other offshore jurisdictions. This results in companies which pays no tax thus tax liabilities are reduced.
Another advantage of registering an offshore company is that they provide protection for asset listed in the company. Offshore company legislation is structured in such a way that they protect the assets placed in offshore companies from court rulings handed down foreign courts. Creditors are also kept at bay. Furthermore legislation in offshore jurisdiction provides privacy and security for offshore companies and other offshore entities registered.
Information in offshore companies and information about offshore companies’ shareholders cannot be given out without the proper consent. Failure to follow these regulations results in prison terms and or monetary fines on most offshore jurisdictions. Information regarding offshore company registration in most offshore jurisdictions is not made part of public records. Some jurisdictions go as far as allowing offshore companies to be registered using nominee shareholders and nominee company directors in order to provide privacy for the offshore company shareholders and directors.
To register and offshore company is not at all a complicated process. In fact in some offshore jurisdiction the work is left entirely up to a registered agent who will work as an intermediary between the registration authorities and the shareholders of the offshore corporation. There are jurisdictions which will not register offshore companies if the services of a registered agent are not used. The Registered agent is a person who has been granted the license necessary for providing offshore services in an offshore tax haven. This license is normally granted by a minister of government or the offshore financial regulations committee in a jurisdiction. To register an offshore company the registered agent prepares the documents necessary for offshore company registration which includes a Memorandum of Association and Articles of Association.
The information to be submitted for offshore company registration is outlined in The Memorandum of Association and is listed here.
- The name of the offshore company
- The name and address of the registered agent
- The authorized share capital of the company
- The currency in which the share capital will be issued
- The number of shares to be issued
- The types of shares to be issued
- The purpose for forming the offshore company
- The names and addresses of company shareholders
- The names and addresses of company directors
- The bylaws of the company
Offshore company registration can be done in one working day. The register of companies will issue a Certificate of Incorporation to the offshore company making it a legal entity. A registered offshore company can take its business operations global however there are many offshore jurisdictions which prohibit a registered offshore company from doing business with residents of the country of incorporation or carry out its business within the jurisdiction.