Offshore jurisdictions will vary with regard to operating formalities. It is known that popular havens cater to a global customer base that takes advantage of the privacy and asset protection laws provided by offshore companies in these jurisdictions. It is also in the best interest of the offshore incorporating jurisdiction to make it convenient and simple to start and maintain your company. We offer a proven system that can incorporate your company and will manage all of the essential aspects for you, with minimal effort on your part, to breathe life into your new company.
By working so closely with offshore jurisdiction government offices, OffshoreCompany.com can assist with all of these formalities of operating offshore companies. When incorporating, the package costs will include a line item for each initial formality, from small government fees to notarizing and hand delivering documents. On an annual basis the owners or members of the company will meet, similar to a meeting of the shareholders. These meetings don’t have to have recorded minutes and resolutions and can be conducted via telephone or video conference. In general, offshore jurisdictions make it convenient to maintain a company.
Some offshore company incorporation formalities include electing at least one person as a company director when the entity is formed. This means that a single person can incorporate offshore in most jurisdictions. Having a registered agent, which is typically a licensed person or company with a physical address on public record in the jurisdiction where your company is registered, is necessary as well. OffshoreCompany.com provides registered agent services in the recommended jurisdictions and includes this service in the incorporation process.
Offshore companies are, generally, less formal than a US corporation or company. However, you may be legally required to report foreign earnings in your local jurisdiction. Income is tax exempt from earnings outside of the jurisdiction of incorporation. You are not required to file annual reports (in most jurisdictions). Some company types are not required to hold an annual meeting of the shareholders. Those that do generally allow the meetings to be held anywhere in the world. Moreover, most have convenient provisions for the company stakeholders that allow for telephone or Internet presence during a meeting.
An offshore company can conduct a multitude of business activities. They can attract international trade and activities that render them as credible as other well-respected business jurisdictions. It is important that formalities be adhered to if required in your company’s jurisdiction. It is generally quite simple and as your incorporation partner, OffshoreCommpany.com can assist you with your operating formalities.
Last Updated on November 30, 2017