Offshore Company Incorporation

Offshore company incorporation has been ongoing for many years and continues to provide persons with a measure which will provide asset protection and security. There are many different countries also known as offshore jurisdiction which have passed legislation which enables the offshore incorporation of these companies. Some of the offshore jurisdictions of the world which allows for offshore companies formation are Dominica, Belize, Panama, St Kitts and Nevis, the British Virgin Islands, Anguilla, Bermuda, Bahamas, Cayman Islands, Seychelles, Mauritius, and Vanuatu among many others.

Offshore company registrations in most offshore jurisdiction is carried out by a registered agent. Most offshore jurisdiction only recognizes offshore companies which have been incorporate with the use of a registered agent or a recognized offshore service provider. In the offshore jurisdictions of the Caribbean it is stipulated in legislation that offshore companies formation must be completed by a company registration agent.

The process of registering offshore companies is very easy and in most jurisdictions there is no need for the potential offshore company owner to travel to the offshore jurisdiction. A name must be chosen for the offshore company but must be a name which is unique to the jurisdiction. The offshore company name must not be affiliated with any government or educational institution.

For limited company registration in most jurisdictions just one shareholder is needed. Offshore jurisdictions allow for offshore company formation to take place with just one person who can be the director and shareholder of the company. There are many exceptions, for example in the offshore jurisdiction of Panama three (3) directors are needed when registering offshore companies. Some offshore jurisdiction allows for other corporations to act as shareholders and c company directors while others do no permit this. For offshore company registration some offshore jurisdictions make it mandatory that a company secretary be appointed by the offshore company.

Offshore company incorporation requires that a memorandum of Association and Articles of Association. Once completed this is submitted to the Registrar of Companies in the offshore jurisdiction of choice. The Memorandum of Association for every offshore company must have the following information in order to be registered; the name of an offshore company or UK company or limited liability partnership, the name and address of the registered agent, the types of shares to be issued, the registered address of the company, state if the offshore company is limited by shares, the names and addresses of the shareholders of the offshore company and the names and addresses of the company directors, the type of business which the offshore company will engage in. Some offshore jurisdictions require that the nationality of the person registering the offshore company be stated. The Articles of Associate are simply the laws under which the offshore company will operate once incorporated.

Offshore company incorporation in some jurisdictions means that the offshore company can only do business outside of the jurisdiction where it has been incorporated and cannot engage in business transactions with residents of the country. There are a few offshore jurisdictions which allow offshore companies to carry out business within the country itself.

The incorporation of an offshore company has many benefits. Offshore companies are incorporated in tax havens which mean that the offshore companies will pay no taxes on incomes which have been generated outside of the tax haven. Most offshore jurisdictions charge no local income tax, capital gains tax, inheritance tax, withholding tax among other taxes. The names of the owners of offshore companies in most offshore jurisdiction are not made public. This is only known by the registered agent which gives privacy to the company owner.

Offshore company registration is a process which can be realized in two (2) working days or less in the majority of the offshore jurisdictions.