6 steps to incorporating an offshore company
While the requirements and procedures for an offshore business setup can vary between different jurisdictions, the procedures to set up an offshore entity typically evolve as follows:
- Consultation: Before registration of our Client’s company, our Client i) signs and email-returns our engagement letter ii) makes payment for Healy Consultants fees and iii) provides all the required due diligence documents;
- Primary considerations: Our team and the Client agree on the following: i) proposed company name and structure ii) preferred offshore jurisdiction (in order of preference for the desired objectives) iii) corporate banking and cash flow;
- Other considerations: Healy Consultants and the Client discuss and agree on: i) nominee director or shareholder services ii) license requirements (if any) iii) business address registration and iv) locating an office premise.
- Company incorporation: Healy Consultants submits all the documents to the Business Registration Department of the chosen jurisdiction to initiate the company incorporation process; Upon successful incorporation, our team will receive the Certificate of Incorporation and immediately email a scan copy to our Client;
- Corporate bank account: Thereafter, we will assist our Client submit all the necessary documents to the preferred international banks. Depending on the banks and the jurisdiction, our Clients business activity and the corporate structure the lead time for approval and completion of bank account opening will vary. Usually this process can take up to 4 weeks;
- Upon approval of corporate bank account number and receiving the internet banking token, usernames and password, Healy Consultants couriers a full company kit to our Client, including i) original corporate documents ii) unopened bank correspondence and iii) a feedback survey to assess the quality of our service. The Client offshore engagement is now complete