Offshore Corporations

About Offshore Corporations

Across the globe, offshore companies and tax havens offer businesses and individuals the opportunity to take advantage of favorable international corporate laws and capitalize on the abundance of opportunities that come along with building a multi-jurisdictional strategy. Setting up an offshore corporation is simply setting up a corporation in a different jurisdiction other than the home country or the country of the company’s main operations. Offshore jurisdictions typically offer better corporate and financial laws as opposed to onshore jurisdictions.

Delaware is historically, the most significamt tax haven in the world, and still remains one of the most successful with over 60% of Fortune 500 companies being set up there, including Facebook. The simple legal structure has inspired the favorable corporate laws of dozens of other offshore jurisdictions.

Tax havens, offshore corporations, and offshore financial centers have become synonymous and interchanged over the past years. While definitions can vary, they can be simplified to services provided in legal, financial, and corporate industries to non-residents in an offshore environment. If a U.S citizen incorporates in the UK or a Canadian citizen opens a bank in Hong Kong, these, by the very definition are considered offshore services, an offshore corporation, and offshore banking respectively.

While the media campaigns to discredit the offshore industry, emphasizing criminal activities (think money-laundering and tax evasion), the fact remains that the offshore industry offers viable solutions to address the ever-changing needs of global business and banking.

Offshore jurisdictions are typically low or no-tax countries. Governments have provided advantageous corporate laws with minimal regulatory interference. They have become powerful legal tools providing privacy, flexible corporate structures, limited liability, and asset protection.

Governments provided these special economic policies offering offshore corporations tax incentives amongst many other benefits to increase foreign investment. Businesses take advantage of this and move their business and income from a high-tax high- regulated model, to a low-tax jurisdiction with liberalized economies.

Businesses are moving offshore not for the classic stigma of hiding their money in a tax shelter, but to use a legal tool to benefit from asset protection laws, privacy, security, wealth management of course to lower their tax liabilities.

Offshore services can provide solutions for investors, small to large businesses, online businesses, start-ups, families, and nomads who are looking to:

  • Establish an insurance policy for their family with a Plan B
  • Eliminate dependency on a single government
  • Diversify assets and gain access to a wider range of investment options
  • Securing assets with privacy laws

Anyone, from all walks of life, is able to take advantage of the many benefits that came with setting up an offshore strategy.

There is no better time than the present. Many people can build an offshore lifestyle, and going offshore is no longer for big multi-national companies or high-net-worth elites.

Planting flags around the world is not only a smart choice but a necessity in today´s global economy. Creating an offshore strategy that includes corporations, trusts, banking, investments, real estate, and even citizenship and residency establishes an insurance policy for you and your family, aka a Plan B.

When you are looking to gain global and financial freedom, then it is time to create an offshore lifestyle strategy.

Many offshore jurisdictions can offer very similar benefits, however, many factors must be weighed and taken into consideration when choosing the right jurisdiction for your business including:

  • Financial feasibility
  • Political and economic stability of the jurisdiction
  • Tax implications including treaties and agreements
  • Local corporate and tax laws within the chosen jurisdiction
  • Language and communication
  • Related services such as banking needs

5 questions to discuss with your provider to determine the best jurisdiction for you:

  1. What is your place of citizenship, residence, and tax residence?
  2. What is your core business, main function, activities, and operations?
  3. How do you collect money and/or make payments?
  4. What tax treaties or agreements does your home country have with your chosen jurisdiction?
  5. What do you hope to achieve by going offshore?

Setting up an offshore corporation is a simple and straightforward process that can typically take 2 days to 2 weeks depending on the jurisdiction:

  1. Choose your jurisdiction
  2. Choose the corporate structure
  3. Choose your professional provider
  4. Fulfill due diligence processes and provide corporate paperwork
  5. Incorporation Process- done by the provider
  6. Request add-on services such as corporate bank account, virtual offices, etc.
  7. Maintain corporation with annual fees

Benefits

Offshore Circle offers offshore corporation set-ups in renowned offshore locations offering political and stable economies. Offshore corporations offer special economic policies and benefits:

Along with these benefits, most jurisdictions have minimal reporting requirements and no foreign exchange controls. Members including directors and shareholders do not need to be present or even residents to incorporate and meetings and books can be held abroad.


Process

1. While many offshore jurisdictions offer similar advantages and benefits, there is no one-jurisdiction-fits all. Our advisors will discuss your needs and goals and ask you the right questions to help determine which jurisdictions are right for your business.

2. Most common offshore structures are IBCs (International Business Corporation) and LLCs (Limited Liability Company). Each option can offer similar benefits however the corporate structure will vary, depending on the chosen jurisdiction.

3. Most offshore corporations require a resident agent. A resident agent is a third party nominated for your corporation who is responsible for the incorporation process as well as acting as liaison (or point of contact) to receive service of process. The resident agent assists clients in maintaining the corporation and adhering to local laws. As this is an ongoing relationship, it is advisable to set up an offshore corporation with a reputable and trusted firm.

4. Each jurisdiction will have its own incorporation process and set of due diligence processes. Requirements typically include fulfilling KYC (Know Your Client) by proving your identity along with proof of address. The clients will provide the company´s information in provided forms including the name, description of services, internal dynamics and structure, by-laws, share capital, and any financial obligations.

5. Once the required documentation is received, the provider can then start the incorporation process. Each jurisdiction can vary in the timeline, however, the typical timeframe can vary from 2 days to 2 weeks.

6. Clients may require additional services such as corporate bank account, virtual offices, secretarial services, etc.

7. Offshore corporations require annual maintenance fees as well as annual resident agent fees. While books and meetings can be held abroad, the resident agent must be updated on any significant changes to the corporation and clients must notify the agent of the location of where the books are held.

While many offshore jurisdictions offer similar advantages and benefits, there is no one-jurisdiction-fits all. Our advisors will discuss your needs and goals and ask you the right questions to help determine which jurisdictions are right for your business.

Most common offshore structures are IBCs (International Business Corporation) and LLCs (Limited Liability Company). Each option can offer similar benefits however the corporate structure will vary, depending on the chosen jurisdiction.

Most offshore corporations require a resident agent. A resident agent is a third party nominated for your corporation who is responsible for the incorporation process as well as acting as liaison (or point of contact) to receive service of process. The resident agent assists clients in maintaining the corporation and adhering to local laws. As this is an ongoing relationship, it is advisable to set up an offshore corporation with a reputable and trusted firm.

Each jurisdiction will have its own incorporation process and set of due diligence processes. Requirements typically include fulfilling KYC (Know Your Client) by proving your identity along with proof of address. The clients will provide the company´s information in provided forms including the name, description of services, internal dynamics and structure, by-laws, share capital, and any financial obligations.

Once the required documentation is received, the provider can then start the incorporation process. Each jurisdiction can vary in the timeline, however, the typical timeframe can vary from 2 days to 2 weeks.

Clients may require additional services such as corporate bank account, virtual offices, secretarial services, etc.

Offshore corporations require annual maintenance fees as well as annual resident agent fees. While books and meetings can be held abroad, the resident agent must be updated on any significant changes to the corporation and clients must notify the agent of the location of where the books are held.


Jurisdictions

America

Indian, South Pacific Ocean, Asia-Pacific & Middle East

Caribbean


Our Services

Incorporation
Set up

We assist with advising possible jurisdictions to suit your business needs and goals along with the incorporation process.

Continued
Support

We assist with any changes to the corporation as well as providing support to adhere to annual maintenance requirements.

Related
Services

We assist with related services to the incorporation set up including offshore banking, virtual office set up and secretarial services.


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