What is an offshore company
An offshore company is a business entity that is incorporated in a location which is not in the business owner’s country of residence. The main purpose of registering a company offshore is to benefit from the jurisdictions tax planning opportunities as well as the increased privacy that most offshore locations offer.
EFSAG offers a wealth of experience in offshore company registration and formation in jurisdictions across the globe. To begin the process of establishing your offshore company, please Contact Us.
Registering an offshore company
Individuals and companies that wish to establish their business entity offshore are required to fulfill certain criterion outlined by the regulatory body of the jurisdiction. Each jurisdiction has specific requirements in regards to the following features of company formation;
- Number of directors
- Number of shareholders
- Minimum capital
- Registered office
- Registered agent
- Annual audit report
- Location of meetings
Along with considering the above mentioned features of company formation, investors are required to file relevant documentation to the regulatory body of the jurisdiction. These documents include the Memorandum and Articles of Association, along with business plans and information of the directors. The privacy and confidentiality laws are dependent on the jurisdiction, however most offshore locations keep the director and shareholder information off public records.
One the relevant documents have been administered, they must be filed to the jurisdictional regulatory body along with the official application form. Some of the most popular jurisdictions to incorporate an offshore company are the British Virgin Islands, Belize and Cayman Islands, due to the excellent tax planning opportunities and privacy laws that these jurisdictions offer.
Investors seeking to establish an offshore company are advised to seek the assistance of a professional consultancy firm to ensure that the process is completed in a professional and timely manner, as well as in compliance with the jurisdictional regulations.