Characteristics of Offshore Company Formation |
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Offshore company formation can bring forth many advantages for the international entrepreneur. The following information provides details of the main characteristics of an offshore company: |
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1. |
Most offshore companies have limited liability, meaning:
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2. |
An offshore company can conduct business in any country, just like a local company. Like a local corporation, it is subject to the rules and regulations of the jurisdiction in which it conducts business;
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3. |
It can buy, sell, hold securities, certificates of deposit, open savings and other bank accounts, transact in currencies, stocks and bonds, mutual funds, various other banking instruments, real estate, and other properties or valuables, such as, precious metals;
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4. |
It can open a bank account and borrow or lend money;
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5. |
Offshore company formation can offer confidentiality. In some jurisdictions, there is neither a requirement to disclose ownership nor any nationality restrictions. The names of shareholders/directors are not recorded in the Public Registry. However, such jurisdictions can carry a negative tax haven image.
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6. |
Offshore company formation enables shareholders to become exempt from the payment of business license fees, income taxes, corporation taxes, capital gains taxes, estate or inheritance taxes, succession or profit taxes or stamp duties or land transfer taxes related to the transfer of property; |
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7. |
Following offshore company formation, meetings of directors and shareholders (if required) may be held by telephone or fax or other electronic means of communication; |
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8. |
Shares may be registered, bearer, with or without par value, unnumbered and may be issued in any currency. There are usually no exchange controls; |
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9. |
The offshore company may trade in its own shares and hold treasury shares. Offshore company formation places no restrictions on mergers, acquisitions or joint ventures; |
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10. |
Offshore company formation usually places no requirement on a company to file financial statements or annual returns. |
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11. |
An offshore company may transfer its assets to a trust or foundation. |
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Contact Us |
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For more information on offshore company formation, contact email@healyconsultants.com or telephone us at (+65) 6735 0120. |
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Back to Offshore Company Formation page.
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