HOW TO GET AN OFFSHORE COMPANY INCORPORATION | GRYFFIN CAPITALIST

 Offshore Company, a general introduction: The companies in tax havens that are not liable to corporate tax are known as offshore companies. Offshore companies are not allowed to do any business activity inside the country of incorporation so they can be tax exempted. They can operate in the rest of the world without any restriction from the authorities in the country of incorporation.

Tax Exemption: Offshore companies do not operate inside the country of incorporation, so they are exempt from corporate tax. This makes the offshore setup very lucrative and advantageous for entrepreneurs who have an international business.

OFFSHORE - COMPANY - INCORPORATION 

How to Incorporate an Offshore Company: The company can be incorporated by a registered agent who provides corporate services. The registered agents or service providers are also responsible for the annual renewal and maintenance of the company.

Advantages of Offshore Company: Some of the primary advantages of the offshore setup are tax exemption, privacy, anonymity and easy to operate structure because of minimal or no filing requirements.

Features of Offshore Company:

The offshore company has a faster incorporation process; the documentary requirements are minimal and it is very easy for the company to operate because of no or favorable regulations.

The company can opt for a nominee director and shareholder for added privacy. It has a registered address in the country of incorporation and can have an operational address outside the country of incorporation.

Conclusion: Offshore setup is a favorable choice of company structure if the company is not doing business in the country of incorporation because of the advantages mentioned herein this article.

We provide one stop solution regarding offshore company formation in 30+ jurisdictions and also assist with corporate bank account opening for the company as well as personal bank account opening for the members of the company.

Can BVI Offshore companies own property or Assets in other countries?

 BVI Offshore company is a legal business entity registered and protected by the corporate laws governed under the BVI legislation. However, BVI offshore companies cannot conduct business inside the country which also include purchasing any property or land assets in BVI. The BVI Offshore company is not mandated to have a BVI citizen or resident to be a company director or shareholder. It means any foreigner can own a BVI company or act as a director of BVI offshore company subject to approval by the relevant authorities. 

BVI Offshore companies are only allowed to generate revenues or own assets outside the BVI jurisdcition. Hence, the BVI offshore company can own property or assets in its name in other countries. In fact, there are a lot many advantages of owning a property or assets under the offshore vehicle as an investment.

Some of the advantages if owning the assets through offshore company include-

1) Ownership Flexibility - The assets (property or investments) are owned under the company's name instead of an individual. At the time of sale or transfer of assets, the buyers can avail advantages by choosing to transfer the shareholding of company.

2) Privacy - Offshore company provides advantages of privacy regarding the shareholders and beneficial owners as all the investments made and assets owned will be under the company's registered name and not the individual's name.    

3) Double Taxation treaties - Investors/ Owners can avail benefits of double taxation treaties wherein the tax paid on the purchase of the property by the offshore company may be partially reclaimed with the company registered jurisdiction as long as the both the countries have a double taxation treaty in place.   

4) Estate Planning  - Offshore company can be used as a medium to transfer assets to relatives wherein the assets can be retained under the company with just the transfer of the shareholder rights. 

BVI Offshore companies can certainly be used to own assets in the form of investments or properties. Please consult with experienced consultants like Gryffin Capitalist, who can assist you with the offshore company registration in BVI.

Can Seychelles offshore companies conduct business activities within the jurisdiction

Seychelles offshore companies can’t conduct business within the jurisdiction. However, they are allowed to engage in business activities as long as they are not conducted within the jurisdiction where they were incorporated. If you are planning to setup an offshore company in Seychelles, then setup only when you are planning to operate outside the jurisdiction.

Seychelles Offshore businesses have registered office addresses in the country of incorporation, which helps companies, as they can profit due to lower tax rates. International corporations are exempted from stamp duty and other local corporate tax laws as long they are not doing any business in the local market in Seychelles. Seychelles IBCs allow you to keep track or keep an account of business expenses. You can utilize it to keep your earnings and pay fewer taxes. 

One can open a multi-currency bank account. This helps in protecting and keeping the wealth intact and protecting the value loss due to large currency fluctuations. 

Hence, Seychelles offshore companies provide many benefits for businesses incorporating in Seychelles. This results in a good number of offshore incorporations in Seychelles, though you cannot conduct business activities within the Seychelles jurisdiction.