Offshore Company Formation

Offshore company formation is a financial service that is provided by a registered and licensed agent. Company formation offshore has become a popular trend in international because and has even caused countries to be identified as ‘offshore havens’ because of this service.

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Offshore company formation follows very strict legal procedures that are established in legislation for registering, administering and maintaining offshore companies. Financial Services Commissions or Authorities are usually set up to monitor offshore company formation service providers to ensure that due diligence and other security measures are enforced.

Company formation offshore may include the creation of the International Business Company or IBC, the Limited Liability Company (LLC), Protected Cell Company (PCC) or Trust Company, accordingly. Company incorporation procedures for these offshore entities differ according to the legal requirements established. As the purpose and use of these entities also differ, documentation and the way in which these entities must be administered vary as well. In the case of the LLC and IBC, for example, an LLC simply has Articles of Organisation which is a very straightforward document of few pages, whereas International Business Companies which are required to have board of directors have Memorandum and Articles of Association which are lengthier in content. Offshore LLC’s do not have board of directors.

Offshore clients are required to solicit the services of a licensed agent to incorporate offshore companies. It is the general rule that this route is followed to incorporate, as agents are regulated and are the ones authorized to collaborate with the registry and relevant authorities for offshore company formation services. Agents also have the necessary resources and are generally equipped to provide supplementary services such as registered office and registered agent which by law every offshore company is required to have upon formation.

Agents or representatives for offshore company incorporation provide clients with information and guidelines about how to set up a company offshore in the jurisdiction, the identification documents that need to be

Many countries are involved in offshore financial services, be it offshore banking, international asset management and estate planning, trusts and foundations, even if they do not necessarily operate as fully fledged tax free offshore jurisdictions. One of the main reasons for resorting to offshore company formation is that of being able to use a tax free entity to pursue international financial goals and to facilitate investment and other personal or business ventures.

Inevitably, offshore company formation is closely linked with offshore banking because of these benefits in addition to the expertise that can be found at major offshore banking institutions.

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