FAQ

What are offshore form of organization?

There are mainly three type of an off shore

• Offshore Company
• Offshore trusts
• Private Foundations

Who can set up an offshore company?
Offshore company can be set up by corporate entity, firms with limited liability, proprietary companies.

What are the differences between an offshore company, offshore corporation and IBC?
There is no significant difference between them. They are all offshore legal entities, called by different names in various jurisdictions. Other terms used include non-resident company or corporation
What is an off shore company
Offshore company/ corporation are same as any other company. It is an entity recognized by the law as separate entity with limited liability. As such companies has option to sell shares, right to sue and to be sued with perpetual succession
 

What are the activities that are carried by offshore companies?

• Financing Companies
• Trading Companies
• Investment Companies
• Holding Companies
• Probate and Privacy
• Property Owning Companies
• Professional Services
• Shipping Companies
• Patent, Copyright and Royalty Companies
• Banking Companies
• Insurance Companies
• Captive Insurance
• Ship management and yacht planning
• Personnel and corporate tax planning
• Real estate
• Venture capital
• Other professional services

What is an IBC?
An IBC stands for ‘international Business Company’ it is most popular type of an offshore company mainly created for the purpose of

• Asset Protection
• Maintenance of Privacy

It is usually a tax exempt corporation that can do business all over the world except in country where it has been incorporated
 

How does an offshore company differs from a domestic company?

An offshore company ensures or offers the following:

• Low/ zero taxation
• Privacy
• Less beaurocratic interference
• No/lesser exchange control

The domestic company generally don’t ensure above except for reduced taxation subject to certain condition

What are shelf companies?
Shelf companies are readymade and never used corporations. These are established to meet clients immediate need
How long does it take to set up an offshore company?
It takes from minimum two working days t three weeks time depending upon the bank and off-shore jurisdiction.

What is the cost of setting up an offshore company ?
The cost includes

• Company formation fee
• Government Fee
• Annual Fee
• Management fee

What is an off shore trust?

An offshore trust is a fiduciary structure by transferring asset to a trustee. The trustee becomes the legal owner and is responsible for managing the assets and distributing them to beneficiaries in accordance with the trust deed. Such are registered under trust laws of applicable offshore jurisdiction.

What is a private foundation?
A private foundation is set into gear when somebody (founder) establish a distinct legal entity say the ABC foundation and makes initial and further contribution to its assets. Any other person/ organization (third party) may contribute to. As soon as the contributions are transferred they don’t belong to founder or third party anymore and become foundation asset . the prime goal of foundation is to deliver its assets to and distribute them in due time among the benefits and in accordance with founder wishes
 

What are the advantages of offshore trust?
An offshore trust mainly offers:

• Better Tax Planning
• Act as a vehicle for offshore investment
• Wealth management according to wishes irrespective of law

What are the uses of private foundation?
These are generally used for following

• To carry out educational, philanthropic, humanitarian, scientific, charitable activity
• To optimize tax planning
• Protect assets
• Manage pension and other scheme of employees
• To invest off shores

What is the difference between a registered shareholder and a nominee shareholder?
A registered shareholder is the beneficial (real) owner who records his name on the share certificate and in the Register of Shares as the owner of the allotted shares. If you choose not to have your name on the share certificate or in the share register as the beneficial owner, we can supply a third party to act as a nominee shareholder on your behalf. Then, although the nominee's name appears on the certificate and in the register, real ownership remains with you because the nominee signs a Declaration of Trust giving up voting rights or the right to sell or transfer the shares.
The nominee shareholder is used where the Companies Registry may be open to public scrutiny, or if the beneficial owner requires a greater degree of privacy. Our company offers this service free of charge
 

What is a nominee director?
A nominee director is a third party provided by us for registration as the director of the company. On his appointment at the first meeting of the subscribers to appoint the board, an undated letter of resignation is signed by the nominee director, which can be executed by the beneficial owner at any time. The nominee director also provides the beneficial owner with a General (Unlimited) Power of Attorney which gives total authority and control of the company to the beneficial owner.

Is setting up offshore illegal?
No, setting up offshore is not illegal. However, withholding information about your offshore investments is illegal in some countries. An offshore jurisdiction should be perceived as just another foreign country, but with certain advantages. These can take the form of banking secrecy laws, advantages in forming companies for international trade through tax treaties, no interest tax, no inheritance taxes, no capital gains tax, no individual tax, and many others.
Depending on your personal needs or preferences, there will normally be one or more offshore jurisdictions offering the services you are looking for.