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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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Because of the strong anonymity an offshore company can provide, if it is setup correctly, it is often misused for money laundering and other activities, which violate the tax regulations in most countries.

Almost everyone knows than an offshore company can be used to protect your assets and can also be used as a vehicle to avoid or minimize tax. In many cases an offshore company (eg. A company incorporated in Cyprus but operating in another jurisdiction) is legally formed to give the owner several benefits that are unobtainable through a local company. One such benefit is the right to obtain a loan in the name of your company. Many European countries forbid LLCs and LTDs to borrow money, as it is in violation with the tax authorities. However, it is of great benefit for a start up entrepreneur if he can get the protection of a regular LTD and still be able to finance the company’s activities, including his own salary.

How is it possible to get more money out of an IBC / Offshore Company, for instance in Cyprus?

It is actually easier than you might think. Normally you need to have approximately EURO 17.000 to form a LTD in a European country. There are exceptions to this rule but 80% of the time this will be the case. Once you have establish the company with 100% of the shares equaling a value of EUR 17.000 then you are unable to draw any of the money out from the company for yourself.

A Limited Liable Company needs to have the ability to be liquid and must assure its trading partners that you have at least have the EUR 17.000 in assets or cash in the company. If the owner of that company by law were able to just take out the money exactly before the company, for any reason, declares bankruptcy then it would favor himself.

With a Cyprus Offshore Company or any other offshore company you are allowed as a resident of a European country to take out loans against the company. Let’s say your company starts to generate a profit, you can then take money out of the company in two ways. One is as regular salary, which will cost you to up to 50% of your salary, as you will be forced to pay the tax authorities. This is undesirable and presents many business owners with a problem, they need to take money out of their business but they don’t want to pay the high tax rates associated with a salary. So what can you do in this situation?

The second way to take money out is as a loan against the company. This loan can be made over a period of 10, 20, 30 or even 50 years. Once the money reaches your account you need to report it to your local tax authorities as a loan. Because it is a loan, and not a profit or income it cannot be taxed.

I hope you fond this article informative. More tips and tricks for how to make the most from your offshore company setups are coming in the near future.
For Cyprus Offshore Company formation and Cyprus offshore bank accounts please contact cclogic.com

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This is one of the most common business questions of the modern time. The incorporation of offshore companies has continued to increase in popularity and it has never been as beneficial to incorporate an offshore company as it is in 2010. Thousands of online businesses have discovered the advantages of incorporating companies offshore and they are already experiencing major benefits such as tax exemption, tax reduction, asset protection and complete anonymity.

One of the biggest questions currently being asked, with all of the offshore jurisdictions available, is “which jurisdiction should I register my offshore company in?”
Different jurisdictions offer different benefits and it is important that you choose the jurisdiction that will offer the most benefits for your company. Below we will discuss 4 of the major offshore jurisdictions and the advantages they could offer you and your company.

Before we begin outlining the jurisdictions and their advantages it is important that you understand some of the terminology we will be using:
IBC = International Business Company, a term for offshore companies in almost any offshore and even onshore jurisdiction.

Offshore jurisdiction = Tax Haven / low tax jurisdiction. Mostly offshore jurisdictions are located on islands or in countries that have no corporate tax, or provide a low taxation rate while also offering privacy and anonymity protection.

TIEA = Tax Information Exchange Agreement. Model agreement on exchange of information on tax matters, developed by the OECD Global Forum Working Group on Effective Exchange of Information

The 4 offshore jurisdictions below were chosen, as they are 4 of the most popular jurisdictions for the incorporation of offshore companies and they offer a wide range of benefits to a miriad of different companies.

Belize:
Belize is located on the border of Mexico and can be the perfect place for those registering an offshore company who desire complete anonymity. Belize has a wealth of services that makes creating and managing an offshore company easy.
However, during the last few years Belize has started signing TIEAs with several important countries around the world. These countries include, but are not limited to, Australia, Belgium and the United Kingdom. This makes Belize less attractive for companies operating in any of the countries that have a TIEA with Belize.

The British Virgin Islands:
The British Virgin Islands (BVI) has long been one of the most famous offshore jurisdictions and thousands of companies have been incorporated in BVI over the last few centuries. Unfortunately, major changes during the past 2 years have made it unattractive for companies to incorporate in BVI. This is mainly due to the TIEAs they have signed with countries such as the USA, UK, Australia, The Nordic Council (Denmark, Norway, Sweden, The Faroes, Finland, Greenland and Iceland), New Zealand, Netherlands, Aruba, China, Ireland and France. You may notice that the mentioned countries have high tax burdens and it was from these countries that most of the companies came to incorporate in BVI.

In the past BVI was the home for many Financial Companies (for the purpose of managing investments), Forex Trading, Mutual Funds etc. It was quite simple to establish these types of companies in the BVI and avoid paying any taxes. Today this has changed considerably and many companies are choosing to stay away from the BVI.

Cyprus:
For most Europeans Cyprus is the No. 1 place to incorporate as Cyprus has the lowest tax rate in Europe. It does have various TIEAs and Double Tax Agreements in place, but despite this it can offer (with the right tax planning) many small, medium and large corporations huge financial benefits.
Cyprus is so attractive to companies and individuals as it is a part of the European Union, it is possible to use Nominee Shareholders and Directors (for anonymity) and it is also possible to avoid corporate tax (0% corporate tax) if the Cyprus Company is nonresident.

The Seychelles:
The Seychelles are well known in the corporate world, but not quite as famous as the previously mentioned offshore jurisdictions. To incorporate in the Seychelles takes less than 1 hour, and they haven’t signed any TIEAs with other nations at this point in time. They will eventually be forced to sign some TIEAs but it is likely this will only be with small, non-important countries.

The Seychelles have very simple regulations in regards to the operation of Financial Investment Companies like Forex Trading, Banking Services and E-Currencies, as well as Mutual Funds, International Trusts and much more. One of the most attractive features of the Seychelles is the low incorporation fee, which is less than EUR 500 for a fully incorporated Seychelles IBC.

You do not need to visit any of the above jurisdictions to register a company within them. It is also possible to open offshore bank accounts in all of these jurisdictions without visiting the country or the bank. Everything can be handled online so that you never have to leave your country but can still achieve the great benefits of having an offshore company.

We hope that the above has given you some useful information in regards to achieving the incorporation of your Offshore Company in the near future. As every company is different and seeks different benefits we recommend you get in touch with one of our professionals who can find a personalized solution for your company and who can guide you, step by step, through the entire process.

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How you can achieve a good and stable asset and equity protection by forming a Offshore Company in the
Seychelles, Belize, BVI or Cyprus.

What is important to know is to have the right company structure to protect your assets and equity in the
case something goes wrong and you will need to relay on the shield you build.

Asset Protection Offshore, the light waight Guide.

We will not enter into a deep explanation about how to achieve a 100% asset protection with an offshore
company, since it is a “hot topic” in the times of an recession, however, basically you just need to register a
company, rather a holding company in a offshore jurisdiction which didn’t signed any Tax Treaties by now,
since those countries a providing the best layer of privacy protection and confidentiality.

Some of those countries are the Seychelles and Belize, there are others, now, it is important that the Offshore Holding
Company is registered with nominees (nominee director and shareholder) in that way the beneficial owner
is protected from any leaking of information to any authority, further it is easier to prove that the company
not belongs to you! Forget all the fluff which many local lawyers and auditors scream about in regards to
who holds the rights and who can act on behalf of the company, the well established offshore company
formation services will never act on behalf of the company without written permission from the client.

Now for the perfect asset protection you will register another company this can be for instant also in the
Seychelles or if you do business in Europe we recommend it to be in Cyprus, this company will be used only
for trading, all assets and equity which this Cyprus company will have or get in the future will be moved to
the Seychelles Offshore company this with legal documents from a lawyer and notary service.

You can download the entire brochure about Asset Protection Offshore

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When you want to Register Offshore Company in Cyprus, it is important to know about offshore company trusts. The trusts are used by a majority of businesses in the country to ensure that the company’s privacy is maintained, protect its assets and make it possible to make investments in the offshore companies that the trust owns.

An offshore company trust in the country gives you 100 percent anonymity, a very high degree of privacy and protection for your all your assets and equity. Other benefits you get from the trust for your offshore company include the fact that it is not taxable and any profits and income gains you make are not subject to capital gains tax, income tax, special contributions and other types of taxes in the country.

The companies that are available in the country to help you form offshore company trusts will charge you a fee for the formation of the trust and the certificate that is given when you register for it. The two documents that you will be required to fill in to get a trust for your offshore company include the Trust Creation Instructions and Specimen Letter of Wishes.

The person who decides to hold particular assets in the offshore company is referred to as a trustee while the assets that the person holds are called a trust fund. The trustee holds the assets in his name for the benefit of another person that is referred to as a beneficiary. The trust fund is legally held by the trustee under a duty that is enforceable in the Cyprus courts. A settler is also required when you Register Offshore Company trust. The settler is the individual who creates the company trust. In Cyprus, this individual can also be the company beneficiary or the trustee. A protector is also an important element in the formation because this is an individual who can control the powers that are exercised by the trustee. This is significant since certain decisions in the company have to be made with the knowledge of suitable people.

The trust can be international and this means happens if the settler does not have a permanent residence in Cyprus, the trust property does not comprise of property that is not movable in the country and one of the company’s trustees is a resident.

An international trust can be discretionary meaning that a trustee can practice a lot of discretion when it comes to distributing assets and income and can also choose potential beneficiaries from a large pool. The voting by beneficiaries in this kind of trust can vary from year to year.

Some of the benefits of an international trust in Cyprus include:
? The exemption of profits, income and gains from capital gains tax, special contributions, income tax and other kinds of taxes. 
? No inheritance tax or estate duty
? There are no exchange control rules
An offshore company trust is important when you Register Offshore Company in the country since it has many advantages.

Offshore Company Formation
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The new legislation that has been put in place has made it easier to Register Offshore Company in Cyprus because taxation rates will now be determined by where the company is controlled and managed from as opposed to where it is registered. If your company is registered in the country but is controlled and managed from abroad, you will only pay tax for the income you make in Cyprus.

 Any foreign dividends, income and interest that an offshore company registered in Cyprus makes will be exempt from taxation. The exemption includes offsets of losses and any foreign tax credits. Generally, such companies will also not get any benefits from the double taxation treaties that exist. To enjoy these benefits, an offshore company can have a large number of its directors based in Cyprus and have all the board meetings held there. The exchange of information rules will also not apply to the offshore companies registered in the country.

Before you Register Offshore Company, the name you select for your company has to be approved. The name has to be in Greek or another language that uses the Latin alphabet. There are certain words that are not acceptable in the company names such as funds, reserves, trust, savings, lending, lender, pension, stock, trustees, capital, credit, custody, financial, deposit, portfolio, broker,  assurance, security, derivative, brokerage, fiduciary, option, insurance, banking, bank, currency, dealer, exchange, dealing, asset manager and asset management.

An offshore company in Cyprus has to have at least one director who is not necessarily a resident of the country. The director can be a corporate body or a natural person. The company should have one shareholder before it can be registered. In addition the offshore company should also have an office in the country before it can be recognized.

Each offshore company has to have a company secretary who can be a corporate body or a natural person. The company’s share capital has to be expressed in terms of Cyrus pounds and the minimum amount of issued, paid up and authorized share capital of any offshore company in the country is one thousand Cyrus pounds. If you want your company to be physically present in Cyprus, you have to pay a minimum of ten thousand Cyprus pounds to Register Offshore Company.

A tax number is required for every offshore company in the country. The tax number has to appear on the offshore company’s invoice after it has been registered. When registering your offshore company in Cyprus, you will be notified about the submission of audited statements. These statements have to be presented to the country’s taxation authority and the central bank every year.
To register your offshore company, you can visit the Department of Registrar of Companies and Official Receiver. Their website provides all the details that you need to know about the registration process and the fees that you will be required to pay. The laws put in place have made it easier for foreign companies to operate in Cyprus.

Offshore Company Formation
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It is well understood that having an offshore company brings complete freedom and if used properly it can safely siphon profit from your business. Offshore company formation can place your business firmly beyond the taxman’s reach in a tax haven.Futhermore it can shield you from a great deal of regulation and tiresome bureaucracy.

An offshore company provides a very high level of privacy and confidentiality as well as an attractive tax optimization opportunity. Nevertheless, types of companies offered in different offshore jurisdiction are significantly unlike. For this reason, not any jurisdiction and any offshore company might be appropriate for any planned activity.

Therefore it is very imperative to comprehend the exact jurisdiction that will be particularly strong for organizing certain activities. Although the procedures for offshore company formation in Belize, Seychelles and BVI do not significantly differ from one another, their use is not all the same. This is why it is important to get the right consultancy on which jurisdiction and the precise offshore company appropriate in each particular case.

There are many reasons why people opt for offshore companies these includes; tax saving, assets protection, flexible business law ,privacy and lawsuit protection. In offshore company formation, there are certain steps that must be taken into consideration.

First you will have to plan- perfect tax planning, preferably with great help of corporate consulting company is very imperative in the formation of an offshore company. For this matter you have to involve the key issues during successful tax planning such as legal, financial and tax aspects of the company and business.

When you are planning for an offshore company formation you have to;

-Identify an ideal corporate bank account that can facilitate international trade in a tax efficient way.
-You must verify whether the registration of director and shareholders are made public. You will have to consider jurisdiction with minimal reporting requirements.
-Make sure you have checked minimum capital requirements and also, if the company is required to be registered for taxes like VAT.
-Investigate if the company is in apposition to receive foreign sourced fund without being subjected to local tax.
-understand the various taxes and exemptions that are allowed.
-Before proceeding to any step check the frequency and rate of renewal fee.
-Ensure you are well conversant with the accurate number of minimum and maximum number of directors as well as shareholders that are allowed in the jurisdiction.

After planning everything the second step is the process of formation. It is advisable to hire an offshore company formation agent to do the necessary paperwork with the office of the register. The new company’s name, authorized capital, nature of business and details of registered office should be put into written.
Subsequent to that, a certificate of incorporation will be issued by the Register on successful completion of the registration. This is a very significant document for it confirms the legal commencement of the company from a particular date.

You will then sign the “resolution” appointing the first directors of the company. The appointed board of directors will then hold their first meeting to adopt the company’s seal, by-laws as well as appointing the banker of the company.

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The duration for the registration of a regular company may take as long as 10 days. The board must have a certain level of patience if they have to accomplish anything in their official and registered capacity. For an offshore company, one is well advised to take up an off-shore bank account for their financing needs. This will mean that the board will have to plan for a maximum of 10 days for the company’s registration. The company may then go about their normal business of consolidating their resources and facilitating a business strategy that will help them gain success in the market place.

Professional Offshore Company Formation packages for clients worldwide – Learn where to start.

With the offshore world experiencing an explosive level of growth right now, a lot of facilities have been committed to the growth of enterprising ideas aimed at utilizing the opportunities in this sector. The set-up will at most take two business weeks but one must always plan in advance for the other requirements including the technological needs thus addressing the need for time optimization. The regular requirements for registration still apply to register offshore company. This will include all the different documents and the physical location where the company will be ideally headquartered. An able individual needs to be appointed to the post of company secretary thus handling all of the company’s needs in the form of legal counsel and this with experience on international affairs concerning legal matters.

Upon settling on the objectives of the company, the board may then proceed to detail the company’s memorandum of understanding as well as its articles of association. Thus the creation of the company’s structure will be set allowing for the directors to register offshore company. This will help them in safeguarding the wealth of the stakeholders from political revolutions and other negative effects that may affect the business operations.

Taking up financial banking from a technologically sound banking institution will help you in executing a good business approach towards the market as you go on to register offshore company. The bank should give you a large range of products from which you can be able to launch a good branding campaign as well as stabilize your business operations. The company’s ownership by regulation will be required to have been held in the form of shares by a specified number of individuals. The members of the board should also submit an undated letter of resignation thus defining the finite duration with which one can hold office as part of the company’s driving force.

Once you have been through all the details on how to register offshore company, you can now proceed to carry out the operations for which the company was formed in the fast place. This may include a whole range of purposes including wealth protection and international trade. A couple of reference letters may be needed to let you establish a company in the offshore area. This, together with the offshore deposit account act as your guarantor therefore should be checked into as you affirm the registration.

(C) 2009 – CCLOGIC.COM – Professional Offshore Company Formation and Offshore Bank Accounts

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When planning for a company’s registration, one may either be catering for a pre-formed or a brand new company. Choosing one of these may mean that you will have to execute a different plan in their registration as well as operational details. One may also form an offshore financial company without necessarily locating its premises in an off-shore financial center. The company must, however, meet requirements for its incorporation details including meeting the tax obligations of the jurisdiction from which its business is being carried out. On the event that most of the company’s founders have a need for anonymity then they can appoint an agent who will fill in the company’s board with nominee directors as well as a nominee secretary.

To register offshore company one has to have a bit of the information about either of these company variations beforehand. This helps in instituting a business strategy that optimizes as much time as possible thus maximizing profits after undertaking the details to register offshore company. With professional help from one can get through the issue of registration quite easily, this lets you concentrate on the important details of the business as your chosen agent goes about the task of using their established network to get your company registered. 

When choosing a name for your offshore company it will be necessary for you to have a number of alternative brand names since there is the probability of the name being in use already. A letter of consent directed to the Registrar of another country will be required if at all the name you intend to use is already in use in that country.

With your company name in place you may need to outline the functions which are supposed to be instituted as the company’s objectives. With these there should also be the accompaniment of articles of association and the memorandum of understanding, thus drawing the structure of the company’s operations and relationship between its shareholders. The firm’s ownership should be documented in the certificate of shareholding and should have at least one director; this however, should be implemented such that the company does not have to undergo any unnecessary risks since this may cost it in the form of profits.

Normally the only pitfalls that may get in your way when detailing how to register offshore company are the statutory regulations. Hiring professional help to assist in working around this obstacle promptly helps in putting your company’s business operations on the road and set to go. The company secretary should be apt and able to help you in the fast processing of the registration details in order for a smooth transition into its business activities.

Since offshore companies enjoy a number of tax holidays, it will still be necessary for the firm’s secretary to implement a strategy that helps them take advantage of these benefits. The directors should also vote to keep the company’s activities in line with all the concerned jurisdictions such that the company operations may run smoothly.

(C) 2009 CCLOGIC.COM – Offshore Company Formation by Professionals

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An offshore company is one that is established on basics where no corporate or personal income taxes are countable. A wide range of factors that cause impact in the establishment of any other kind of company such as capital gains, reporting requirements or placement of restrictions on the employment policies of the company are usually excluded. It may not be easy to get all the necessary information required to register an offshore company due to differences in laws and restrictions of different countries. On the other hand an offshore shelf company is the one which was initially incorporated in to the online business transactions before the purchase.

Some companies are established to specialize only in the formation of companies overseas which makes it less stressful in fulfilling all required trading operations. With their aid an offshore company formation becomes a simple process since they can easily access all service providers and the formation process is effectively accomplished. In order to form an offshore company for your online business it’s very important you research on all essential aspects for the online business such as offshore credit cards, bank accounts and key benefits that are basic requirements during formation.

An offshore bank account is another essential requirement that is needed during the registration of the company to ease its operations without any complications. The service providers of all online off shores companies also require reference letters from the offshore company ordinary members current banking operating system and recommendations from any professional body.

During the formation of the offshore company in a different country it’s also advisable to obtain a certain type of license. Offshore company formation nowadays requires the IBC type of license which regards offshore companies to be formed as individual business organizations. By obtaining this type of license it becomes s very easy to identify the most common and cost effective ways to register the offshore company.