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Offshore banking has often been associated with the underground economy and organized crime, via tax evasion and money laundering; however, legally, offshore banking does not prevent assets from being subject to personal income tax on interest. Except for certain persons who meet fairly complex requirements , the personal income tax of most countries makes no distinction between interest earned in local banks and those earned abroad. Persons subject to US income tax, for example, are required to declare on penalty of perjury, any offshore bank accounts–which may or may not be numbered bank accounts–they may have. Although offshore banks may decide not to report income to other tax authorities, and have no legal obligation to do so as they are protected by bank secrecy, this does not make the non-declaration of the income by the tax-payer or the evasion of the tax on that income legal. Following September 11, 2001, there have been many calls for more regulation on international finance, in particular concerning offshore banks, tax havens and clearing houses such as Clearstream, based in Luxembourg, being accused of being a crossroads for major illegal money flows.

An offshore bank is a bank located outside the country of residence of the depositor, typically in a low tax jurisdiction (or tax haven) that provides financial and legal advantages. These advantages typically include some or all of:

* Strong privacy

* Less restrictive legal regulation

* Low or no taxation (i.e. tax havens)

* Easy access to deposits (at least in terms of regulation)

* Protection against local political or financial instability

While the term originates from the Channel Islands “offshore” from Britain, and most offshore banks are located in island nations to this day, the term is used figuratively to refer to such banks regardless of location (Switzerland, Luxembourg and Andorra in particular are landlocked).

What type of services are available from offshore banks? The same as the services from any high street bank, plus the extremely confidential Swiss style numbered accounts. Many of the offshore banks listed on this site are respected AA credit rated international banks, that everyone has heard of before. They have simply set up an offshore division or branch division within a tax haven to attract a share of the enormous international trade, and offer almost the same services as any domestic bank. Such as the following:

* Personal and corporate current/checking account

* Personal and corporate savings accounts

* Secure internet banking facilities

* Anonymous numbered accounts (extremely confidential)

* Debit and ATM cards, which are accepted globally

* Credit cards

* loans

* Mortgages

Going offshore in simple terms means placing your savings, investments, assets or business concerns outside of your home country, within one of the many tax havens. A tax haven is a country that has very favourable tax advantages, which means that your savings, investments, assets or business profits can grow free of almost any taxation. Although taxation is only one reason why many decide to go offshore.

Privacy

To protect the free flow of your personal information and dealings. An offshore entity has no obligation to release your personal or business information, affording you with a great deal of privacy & confidentiality. In general terms your personal information will not be divulged to any governing body or tax authority unless suitable evidence can be shown to prove that you have been involved in criminal activities, such as money laundering or drug trafficking.

Financial privacy is becoming a thing of the past. Almost every single transaction made at a bank or ATM, by law, must be recorded and filed. Consumer credit agencies maintain databases full of sensitive information that is used and shared by other organizations and agencies. Asset collectors routinely advertise their ability to locate bank accounts, brokerage accounts, and real estate and business holdings. Should asset collectors find substantial wealth, the individual or corporation becomes an easy target for a lawsuit.

Unless ethical and legal steps are taken to insure privacy, sensitive and confidential information could easily get into the wrong hands. Placing your assets, investments, savings bank and brokerage accounts offshore will keep them off the asset collector's radar screen. Consumer credit agencies and government departments do not have access to foreign account records or transactions. Domestic property may be held in the name of a foreign corporation (IBC) or trust. This insures that asset collectors and agencies cannot locate it. By taking advantage of these methods an individual or corporation becomes a smaller target and the likelihood of being sued is reduced. Utilizing offshore tools to protect privacy could mean the difference between keeping and losing what is rightfully yours.

Tax Efficiency

As stated above, your savings, investments, assets or business profits can grow almost free of any form of taxation. This does not mean tax avoidance, it simply means whilst your assets are held offshore they will benefit from very favourable tax advantages. There will for many however, be a potential tax liability when you look to repatriate your assets to your home country. This will depend on your nationality and your country of residence at the time of repatriation.

Asset Protection

There are many methods in which to protect your assets using an offshore structure, in the form of an investment product, an IBC (International Business Company) or a offshore trust, or even a simple offshore bank account. These will protect your assets from:

* Protection from invasive bureaucracy

* Protection against lawsuits

* Protect your assets from seizure

The simplest form of protection offshore is the nature of the offshore privacy rules. What isn't known can't be attacked. The basic form of offshore privacy combined with a IBC or Trust is a very secure method to legally protect your assets from prying eyes.

Lawsuits are filed every week. Ex-spouses, ex-business partners, disgruntled employees or predatory lawyers may file a suit if they believe a potential defendant is an attractive target. Losing such a lawsuit could cause a lifetime's worth of savings, investments and real estate holdings to be lost. In light of this, placing assets offshore is a wise and effective means of protection from frivolous lawsuits.

Once your assets are held offshore they are unreachable by domestic courts. In the event of a lawsuit, a defendant may be forced to forfeit domestic assets, but offshore assets will remain untouched. Offshore courts do not recognize or carry out domestic judgments. This insures that assets sent offshore will remain confidential, secure, and permanently in the hands of their rightful owners. Moving assets offshore will create peace of mind that what's yours will always be yours.

Regulatory Advantages

The regulations in force within most high tax countries, are there to protect investors, and rightly so. However, due to the very strict nature of these regulations, fund managers feel as if they are wearing a financial straight Jacket. It is difficult for them to compete with the returns of their offshore-based partners who enjoy less restrictive regulation. Many offshore jurisdictions have very mature regulatory systems in place, often based on those present within the US or the UK, yet they allow fund managers great freedom to add value for their investors. This is why offshore funds nearly always outperform their onshore equivalents. Within the high regulation onshore countries, excessive rules and bureaucracy often plague domestic businesses and operations. Valuable resources are diverted away from the productive process in order to monitor compliance as a result of the restrictions imposed. Curing this problem is as simple as moving to friendlier shores. Offshore jurisdictions are intentionally business-friendly and have regulations that are straightforward, simple to understand and inexpensive to comply with. Moving a business offshore and enjoying a more pleasant business climate may require nothing more than forming an offshore corporation and transferring assets from the domestic corporation to the foreign one.

Is all of this legal?

Do you trust your current bank or investment provider? Chances are that they too have an offshore operation; most of the world's major banks and investment companies have an offshore present. Do you honestly believe that a triple A credited rated investment company or bank would operate in an illegal activity? Companies such as Merrill Lynch, HSBC, ING Barings, UBS, Barclays, Deustche bank, ABN Amro all have offshore operations. It is not the offshore industry itself that is illegal, it is only the devious activities of certain individuals who may give the offshore industry a poor reputation. It is also true that the due diligence, and money laundering checks performed by offshore companies is increasing, especially after the 911 terrorist attacks. Which will ensure that it becomes difficult for criminals to abuse the offshore industry.

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January 2011 – Offshore Company’s, Trusts and Foundations for Asset Protection, Money Laundering or Tax Savings – this is the picture drawn up by the government’s all around the world, offshore jurisdictions like Panama, Belize, Nevis, Cook Islands, Bahamas/Nassau and many others gave up on the pressure from the major EU countries and the USA – It is almost no longer possible to hide any money transaction if it is done electronically by Bank to Bank transfer or Credit / Debit card transfers, nor is it possible any longer to hide behind a Offshore corporation if the company has a bank account, also not if it is a so called offshore bank account, why not?  – The answer is pretty simple and straight forward, in the so called old days (about 2 – 3 years ago) and before the financial recession which hit the world economy the procedure to open a bank account in an offshore jurisdiction like Panama, Belize, Bahamas, Cyprus and beyond many other jurisdictions were simple, just provide some sort of corporate documents and have a nominee to sign on behalf of the company, the banks didn’t asked for a clear and transparent company structure which shows the beneficial owners (real owners of a company) not did they care much about if the passport, utility bill or any other document provided was real and up to date! – This was a kind of a loop hole for many also sadly enough for criminals who were able to finance there activities through offshore corporations and accounts worldwide.

Now what has changed?
Actually today it is very clear, if the purpose of an Offshore company and a connected offshore bank account is money laundering, tax hiding or financing of any sort of criminal activity one won’t be able to go any further with it, the entire process will be stopped at the latest by the bank’s around since today it is required to provide proper prove of company and account holder, this has to be able to be verified one way or another.

But there are still Offshore company Agents who offer 100% bullet proof corporations and bank accounts, so it is not true what you say?
This is 100% nonsense and nothing “bullet proof” today as already mentioned above no Offshore Trust, no Offshore company, No Foundation, No Fund will ever provide anything that is “bullet proof” as known from the past, actually, providers / companies that claim they have such an solution simply lie and want to pick up the money from your pockets and nothing else, or they are not used to keep know how the world looks today and tomorrow they still offer solutions which were possible for 4 or even 10 years ago, this to the great negative personal impact it can have to the people who buy from such companies / offshore providers.

Of course there will always be options out there to hide money, there will also always be options around who may be tools to finance any criminal activities but today’s governments and their Intelligence services will catch people sooner or later, don’t be naive!

So why do you still sell Offshore corporations?
Actually there are many reasons for why one will incorporate a offshore company, one of them is privacy and anonymity another is reducing tax and then we have finally creditor protection in special circumstances.  What do we mean with “Special Circumstances” – this is one of the most overlooked items a offshore corporation can be used for, for a brief explanation read on, while it is very easy for any creditor to get a court order to access the assets of a resident/local company if they are unable to pay their bills because they are close to file bankruptcy then it is very expansive and in most cases impossible to access assets of an offshore company!  This can be a key factor if the entrepreneur behind a new company maybe just had to little knowledge about the companies activity but want to start again just without the mistakes that forced the first company to file bankruptcy.  Or companies that have been in business for ages but hit by the financial recession or other circumstances that force the company to file bankruptcy, there are many reasons and incidents  that can describe ” Special Circumstances” for an entrepreneurs starting a new venture it is crucial to protect the personal future and not spoil it because an idea which simply not will work. While some only look in the direction of Offshore companies and offshore bank accounts because they want to hide from the tax authorities or because they have any sort of criminal activities going, then we are glad to tell the reader that we have many who are incorporating an Offshore company for the above mentioned reasons and as well not mentioned reasons.

What are the best offshore jurisdictions to incorporate?
There is no “best” offshore jurisdiction, for the time (2011) we recommend the incorporation of Seychelles companies because they are still very protected and almost untraceable in regards to owner ship, also for asset protection they are the perfect tool, most often we recommend a Seychelles company in combination with a Cyprus company if the business activity will take place as well in Europe or if the purpose is a Holding Structure.

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Now the summer season has arrived and most people around are on summer holidays, this is a perfect time for any business to start their incorporation of an offshore company and to open a offshore bank account.

Since the pressure on the authorities in the different offshore jurisdictions and the banks are not that much in the summer season, then it is a good time to start your offshore company formation and to open an offshore bank account, the turnaround time is less what it normally is, which means, you business case can be completed much faster.

Why should I go for an offshore company formation?
The reason to form a company offshore are many, investments, business or assets and privacy protections are only a few of the many benefits you gain from an offshore company. Many existing and new business have a Holding Company offshore while they have their day to day business onshore. The benefits to have such an offshore company structure are the major tax benefits, for instant, you don’t have to pay tax on dividends, you don’t pay any tax on net profits and your assets are protected by strict offshore corporate laws.

With an Offshore company formation your business will simply become more profitable and you can react faster on expansions, investments and new business opportunities. For new entrepreneurs an offshore company formation can have a major impact on their future the same for online businesses, since the offshore company is more agile in the way of operation and the flexibility to “borrow” money from the offshore company if needed let you pay less taxes.

When you enter into an Offshore Company Formation you will need to ensure that your agency also can open an offshore business bank account for your newly registered offshore company. Those bank accounts are often opened in the Seychelles, Panama, Cyprus and such offshore jurisdictions. The best offshore bank accounts you will get with Cyprus. The banks in Cyprus offer a state of the art Internet Banking platform in English where you are able to send International Wire Transfers, have the options to trade foreign currencies, and to open investments accounts. Beside this, you have access to your bank account 24/7/365 to check your account balance and incoming transfers. Finally most of the banks in Cyprus offer the client a Visa or MasterCard Debit- or Credit Card.

CCLOGIC LLC has specialized in the formation of Offshore Companies in several of the major offshore jurisdictions like, Belize, BVI, Cyprus and the Seychelles. We can open business and personal bank accounts for clients Worldwide; there is no need to visit any of the jurisdictions in order to register an offshore company or to open an offshore bank account.

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Fig.1 - Offshore Company Formation with nominee shareholder and director

The benefits from an Offshore Company Formation and the opening of an offshore bank account are many, and if done right it can give the maximum tax savings, privacy and assets protection and anonymity.

Many European countries have strict regulations on how you can manage your LTD or other limited company form; many entrepreneurs are struckeling in the effort to managing and survive of their company.

With an Offshore Company in countries like Belize, BVI (British Virgin Islands), Cyprus or the Seychelles you will have much broader possibilities to archive your goals to compete towards the competition in your business fields.

The mother company of an offshore company can for instant register a company in a European country, if their daughter company is obtaining a loan of a certain amount of money and the EU Company can now set off the interest in the annual report, saves taxes. This method is widely known by business professionals and used by many located in tax heavy countries. It might look unethical to some, but not less it is legal.

Taxation of instant income in a company can also be almost eliminated if the company is located in an offshore jurisdiction and the activities are taking place abroad in an offshore company.

An example of this is:

Our point of departure is five people which work as teachers on a local school, but which in their spare time have visited courses as masseurs and which are now educated to perform this as a work and by that make some extra income. The way they work is by visiting different companies around offering their services which are massage to the employees, once finished they leave and go to the next company. The business activity they place in an offshore company which also the one is invoicing the different companies they visit. In this way they don’t have a static address or office from where the work is performed which makes the entire business model not to be considered as a local business, now this is a foreign business and is not subject to any tax in the local country. Important to note here is that if they take a portion of the net profit from the Offshore company for them self it is subject to personal income tax.

In the above example, the money is going straight into the Offshore Company without any tax paid!

The important part is that the Offshore Company formation takes place correctly and you will need to have a professional offshore company formation agency to help.  For the tax issue in the above mentioned example and in any other case it is important to mention that you will need a Nominee Shareholder and Nominee Director which can be locals or foreigners, but the nominee service is the key here. See also the Fig.1 on this page for an illustration of the correct incorporation.

CCLOGIC LLC is providing offshore company formation in, Belize, BVI, Cyprus and the Seychelles and can beside the offshore company formation also help with the formation of Trusts and the opening of offshore bank accounts, we have been serving clients worldwide to archive their goals and this for many years.

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Well while much has been told and many already know that a Offshore Company Formation for investments is the best business constellation you can have when investments of any nature are the purpose, then many don’t know what a Offshore Company is and how to setup a offshore company at all.

First you will need to figure out which offshore jurisdiction you want to incorporate, Belize, BVI, Cyprus and the Seychelles are the most common places for a Offshore Company Formation. To setup a offshore company in one of the mentioned regions are not difficult many of the professional Offshore Company Formation Service Agencies can help with it, however, it is important that you get a offshore company setup which is customized to your situation, which is different from client to client.

You will need to ensure which laws apply for you citizenship in the country of your residence, some countries have some very complicated tax and legal regulations where others almost not bother, the last applies only for a handful. Regardless of which of the mentioned countries you choose you will need to make sure that you are able to open a business bank account for the offshore company, failing to do so, will make it worthless to enter into a offshore company Formation.

Cyprus has one of the best banking infrastructures in the offshore jurisdictions you can find, furthermore they have a high level of banking secrecy, they are a member of the EU but retained the regulations in regards to banking secrecy, company formation regulations and much more.

You have several options available, however a Cyprus bank account can be opened by any company Worldwide as long as the company is duly incorporated and the beneficial owner can be identified.

When we suggest our clients to go for an offshore company formation, we often want it to be less complicated and therefore suggest Cyprus for the company formation and also the opening of the business bank account. Cyprus has two efficient ways to incorporate a company, first it can be registered as regular company which is subject to a corporate 15% Tax (which is the lowest tax in Europe) and then the most common registration as an IBC (International Business Company) both are very easy to form, only condition is that we know it first of, a IBC requires foreigners as shareholders and Director, this can be through nominee shareholders and directors, which give a 100% anonymity or it can be the beneficial owner itself, we recommend the nominee services.

The British Virgin Islands, Belize and Seychelles offer a 100% corporate tax free setup of the offshore company and can also be appointed with Nominee Shareholders and Directors, further, those companies can open business bank accounts in Cyprus as easy as an Cyprus Company can.

CCLOGIC LLC has specialized in the offshore company formation in, Belize, BVI, Cyprus and Seychelles, we have a many years of experience also with the formation of Offshore Trusts in Cyprus and Panama. Our large number of offshore banking for which we in many cases are official introducers for helps clients worldwide to archive the ultimate offshore company and banking setup.

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 CCLOGIC LLC has specialized in the formation of offshore companies, offshore trusts and the opening of offshore bank accounts for investments or savings. We have been in the industry for many years, during this time we have helped hundreds of clients worldwide to archive their goals. Visit our website for more information or contact details.

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When considering entering into any type of Investment you should consider having an Offshore Company for instant in Belize, BVI, Cyprus or Seychelles to execute the investment. In the mentioned offshore jurisdictions a company don’t have to pay tax if the company is registered as Offshore International Business Company (IBC), many private investors all around the world have already explored the great advantages a Offshore Company which purpose is to make medium to large investments can give.

An Offshore Company Formation isn’t any difficult and can take place within a few weeks; the most important is to have a good and solid offshore bank available where the offshore company can open a business bank account for the purpose of Investment, Forex Trading and other banking activities.

Beside the tax advantages also the privacy and security is a factor which let many investors and business people in general enter into an offshore company formation. An Offshore Company which is duly incorporated in some of the above mentioned countries gives the beneficial owner a 100% anonymity and protections against liabilities and creditors.  Even if the investment is considered high risk then a offshore company has its advantages.

For active Investors or business which are growing fast it is crucial to be agile and to extend the activities of the operation as it grows, with an Offshore Company in the top it is easy to register new companies in other places of the World without to consider any tax or trading regulations which could stop or make it even difficult to expand.

Further to the Online Investment opportunities you also find investments in property abroad from where you are resident. Often huge TAX implications are the result of such investments which can be avoid if the offshore company formation has taken place before the investment is executed. For property investments we recommend to have a Offshore Trust in Cyprus to execute the deal or at least to have the Trust in Cyprus to have to register a Offshore company throughout the investment is made.

Typically Europeans get in troubles if they even through some regular European Company have made any property investment abroad, the taxation of the beneficial owner is guaranteed and often this are at a taxation rate in the range of 10 to 20% of the total investment, this is annually. If the property investment is made through an Offshore Company for instant in Belize, BVI, Cyprus or the Seychelles those tax’s can be avoid!

CCLOGIC LLC has specialized in the Offshore Company Formation and Offshore Trust Formation in the major offshore jurisdictions all around the world, we operate through secured locations and never keep any records. By many years we have served our clients in the opening of Offshore Bank Accounts for almost any purpose and in the registration and duly incorporation of Offshore Companies in Belize, BVI, Cyprus and the Seychelles.

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When you consider registering an offshore company in any offshore jurisdictions and you main income comes from your online business, you will quickly find it difficult to open a offshore bank account and to find any payment services provider which will accept your business for credit card processing.

An Offshore company is often considered as High Risk just because of its location in an Offshore jurisdiction, therefore it is important when you start your incorporation of an offshore company to make sure the offshore company formation agency is able to help you to open both a offshore bank account and a merchant account (to accept credit card payments) for the company.

You will need to register your offshore company in an offshore jurisdiction which gives you the privacy and asset protection your are looking for but you will also need to have the offshore company formation to take place in an offshore jurisdiction which enables you to open the bank account and merchant, or you will need to have the offshore company to register a new company within a jurisdiction where you are not limited by any bank. Offshore jurisdictions like Panama, Belize, Seychelles and British Virgin Islands are not good jurisdictions when it comes to a merchant account, you will need to have your offshore company in for instant Cyprus. With a Cyprus Offshore Company you will have access to a large number of banking services and offshore / onshore banks. With a Cyprus offshore company it is possible to keep the privacy and asset protection you seek but still have all the possibilities to trade online.

As mentioned there are two ways you can establish your offshore company structure if the main purpose is to trade online. One is to have a offshore holding company structure where the Holding company is located in an offshore jurisdiction which gives you maximum asset protection and privacy, then have the offshore holding company to register another offshore company in for instant Cyprus (or any other European Country) by choosing Cyprus you will have a 100% protected offshore company setup. A good alternative could be to have your Onshore company (any company located in an non offshore jurisdiction) to register a offshore company in Cyprus, that would still protect your privacy and assets and at the same time not limit your possibilities.

CCLOGIC LLC is an offshore company formation agency service which provides clients worldwide with incorporation services of offshore companies in several offshore jurisdictions like the Seychelles, Belize, BVI and Cyprus, furthermore we have specialized our self through many years of experience in this field in the opening of offshore bank accounts and merchant accounts, our company is a official introducer for the major banks in Cyprus.

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Considering registering an offshore company in the Seychelles can be a good thing if the purpose of the offshore company formation is to securing your funds and assets, for online business it might be only less attractive since it is very limited in regards of online payment processing.

To register a offshore company in the Seychelles isn’t difficult and only takes a few days, the entire process is handled online, and you do not need to visit the Seychelles even if it is worth to travel to the island. The Seychelles has been used by many for years now and is a common vehicle for Holding structures and when the main purpose is asset protection, securing privacy and liabilities.

When you start the process to register a offshore company in the Seychelles you will need to complete a application which simply just need to be sign and send electronically to the offshore company formation agency of your choice, together with your application you will need to send a utility bill in English and not older than 3 month and a copy of your passport.

Important to know is, the beneficial owner of a Seychelles company won’t be revealed to any authority and will be kept in a safe place with a lawyer abroad. A Seychelles company formation can take place with nominee shareholders and directors and are often provided by the offshore company formation agency for a small fee.

When you consider to register a company in the Seychelles you will need to ensure that your offshore company formation agency is able to open a offshore business bank account for your just registered Seychelles company, if they can’t do this, forget about it, a offshore company setup without any offshore banking is worthless and it is very difficult to find some offshore bank at your own or a agency which will help you with the opening of the offshore bank for your Seychelles company.

A Seychelles company is registered 100% anonymously and the beneficial owner of the Seychelles Company isn’t listed on any public register (if the registration of the offshore company is handled correctly) further to the registration process you can have the company registered with bearer shares which isn’t advisable since it will make it complicated to open any offshore bank account. Bearer shares can be used if you already have a reference in an offshore bank and they are willing to take on a new company they know is owned by you.

CCLOGIC LLC is providing fast and reliable offshore company formation services and offshore banking facilities to clients worldwide, we have specialized our self in the offshore company formation in offshore jurisdictions like : Belize, BVI, Cyprus, Seychelles and other places around the world where it is possible to obtain anonymity and security for the company.

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In today’s Internet world the borders have moved closer and conducting business from an offshore haven isn’t any difficult any longer. But many do not even know what a tax haven is or they have just hear the word somewhere discussed.

A tax haven is in its consents just an offshore jurisdiction / offshore country where no Tax or only a small percentage of tax has to be paid by a company on net profits.

Typically for an tax haven in an offshore jurisdiction is that it allow 100% anonymous incorporation of a company and that the possibilities to protect assets and equity are many and secure. A company in an tax haven is also called a offshore company and most common places to incorporate a offshore company are the Seychelles, BVI (British Virgin Islands), Belize, Panama, Curacao, Uruguay and not to be overlooked Cyprus.

With an offshore company duly incorporated in an tax haven you can conduct business in an tax and assets protected convenient way and you don’t need to worry about any creditors or liabilities your company might have. Offshore Companies are very often used by Online businesses and gives the owner of the company an easy and less expansive tool to kick start the business risk free and less expensive and complicated as know in non tax havens.

The business in tax havens and offshore company formation is in an ever changing development therefore it is important that you choice a reliable and trusted offshore company formation agency which both can help you in the registration of the offshore company in an tax haven / offshore jurisdiction like the Seychelles or Cyprus but also has a large network of financial institutions on those places which enables your offshore company to open a bank account and most needed for online businesses a merchant account to accept credit card payments, beside the first mentioned many offshore companies are also good vehicles for foreign Forex exchange trading and stock exchanges.

CCLOGIC LLC has many years of experience in the Offshore company formation in Tax havens and has also a large network with numbers of banks for the opening of bank accounts and several other Acquiring banks and processing partners in regards to accept credit card payments on a website.

Please contact us if you would like to know more about the offshore company formation, the opening of a offshore bank account or if you need a merchant account for your online business, we are always happy to answer any questions.