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OFFSHORE COMPANY FORMATION
Why establish offshore?
Going offshore through an IBC (International Business Corporation) allows the owners total control over their assets in complete privacy from an offshore financial jurisdiction. Their entire businesses and commercial activities, including investments and banking, may be conducted under an offshore corporate ownership, thus keeping the name of shareholders, directors and officers completely private. In the vast majority of cases, the banks are prohibited, based on local laws to disclose any information on their clients.
Why Asset Protection?
Asset Protection programs are set to protect clients' assets for estate planning, protection against creditors, including inland taxation authorities. The procedure of asset protection typically involves transferring assets into other entities, to positively shield them from potential foreign court awarded monetary judgments. This is done by employing an inventory of legal tools offshore, including: Asset Protection Trusts, Private Foundations, International Business Companies (sometimes referred to as IBCs) and many other customized devices. These tools can be configured to be either domestic or foreign entities.
Advantages of Offshore Companies in Tax haven:
- No restrictions on nationality
- No requirements to disclose ownership
- No restrictions on foreign owned corporations
- No restrictions concerning ownership of shares
- Shares could be suscribed to the Bearer or By Name
- No residence requirements for Directors/Officers
- No paid-in capital requirements
- No Income Tax is paid or reported if the corporation operate outside the jurisdiction
- No exchange controls
- No restrictions on Mergers, Acquisitions or Joint Ventures
- No requirements to file annual Financial Statements
- No requirement to hold annual General Meetings of Shareholders or Directors
- Secrecy and Anonymity
- Total tax exemption on all and any business activity or transaction carried on outside the jurisdiction
- Total business privacy
- Registration takes between 10-20 days depending on the jurisdiction and shelf companies are readily available
- Reasonable Annual Registration and Resident Agent Fees
- The accounting books for the corporation could be kept in any part of the world and in any language
- Amendments can be made to the incorporation documents upon the needs of the corporation
- Established base of bilingual accountants and lawyers specialized in banking, corporate and trust services
- Flexible corporate laws permitting foreign corporations to rotate their domicile or seat between Panama, BVI, Bahamas and other locations.
- While not providing any specific legal or tax counsel, nevertheless for some individuals or companies, offshore companies may offer specific tax advantages over other jurisdictions. Any potential client seeking legal or tax advise should consult with their individual legal or tax advisor
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Online personal loans are fast, easy and are accessible from your home or work computer.
Offshore businesses should consider asset protection for security and legal reasons. Business entities like GoldenTree Asset Management, LP and others can help lay out your asset management options.
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Asset Protection s.r.o. is not a law firm and does not provide legal advices or legal services. We recommended to consult licensed professionals with regards to local tax and legal matters.
