Offshore Company incorporation
What is an Offshore Company?
An offshore company is a company which does not carry out any substantial business activities in its country of formation and is framed in a law of no tax jurisdiction for the purposes of legally reducing any kind of tax payment and enhancing one's wealth management.
Mostly one would open an offshore company to secure confidentiality over their financial matters and increase wealth without interruption. Offshore companies can eliminate or cut down many types of tax payments such as: Capital gains, V.A.T, Death duty, profits on business earnings and property sales. An offshore company legitimately helps one in gaining confidentiality over one's financial affairs and growing one's wealth.
Taxation |
Business may be structured so that profits are realized in ways that minimize their overall tax liability. |
Anonymity |
The name of the underlying principal may be kept out of documentation by carrying out operations in the name of an offshore company. |
International trade |
Offshore Company would be a good approach for those who want to do international business along with other investments. |
Property transfer |
When the owner sells the property; a certain percentage of its value may charged by the authority. The transfer fee can be easily avoided by selling the Company itself. |
Multiple investors |
Few of the property developers around the world insists that the property owner should not be more than one. Number of shareholders can be 1-50 in an offshore company and company owns the property. |
Bank account |
Many of the International and local banks operating in UAE are offering offshore corporate bank accounts. |
Major offshore jurisdictions:
FEATURES OF THE BVI ( British Virgin Islands )
- One of the largest incorporators of offshore companies worldwide. BVI legislation is recognized around the world.
- Low formation and annual maintenance fees.
- Minimal ongoing compliance requirements.
- BVI Authorities do not impose tax on profits.
- Different classes of shares can be issued.
- Minimum requirement of one shareholder.
- Minimum requirement of one director.
- No obligation to appoint a company secretary.
- No information required by the BVI Authorities prior to incorporation.
- Shareholder and director details are not listed in any public register in the BVI and are not given to the BVI Authorities.
- No requirement to file annual accounts or tax returns in the BVI.
FEATURES OF CAYMAN
- Exempt companies, ordinary non-resident, ordinary resident, limited duration companies, limited liability companies, guarantee companies, no par value companies, segregated portfolio companies, partnerships, funds, and trusts.
- Leading offshore, financial, and banking centre.
- Modern company law.
- Companies can be incorporated in 1 - 2 days.
- Different classes of shares can be issued.
- Minimum requirement of one shareholder.
- Nominee shareholders can be provided.
- Minimum requirement of one director.
- Corporate directors are allowed.
- Accounts do not need to be filed.
- No requirement to appoint an Auditor.
FEATURES OF THE SEYCHELLES
- Low formation and annual maintenance fees.
- Minimal ongoing compliance requirements.
- Seychelles Authorities do not impose tax on profits.
- Different classes of shares can be issued.
- Minimum requirement of one shareholder.
- Minimum requirement of one director.
- No obligation to appoint a company secretary.
- Shareholder and director details are not listed in any public register in the Seychelles , and are not given to the Seychelles Authorities.
- No requirement to file annual accounts or tax returns in the Seychelles.
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