Companies in other jurisdictions
Registration of an offshore company in other jurisdictions may be required if a company plans to lead international commercial activity. Today in the world act few dozens of classic offshore zones with complete dismissal from taxes; as well there is a number of countries which may be conditionally called offshores. These are the states in which beneficial conditions for commercial activity were created and the tax rate is low to the possible limit. They include Switzerland, Cyprus, Hungary, Liechtenstein. You can get the list of other jurisdictions and the peculiarities of each by contacting our company Goldblum and Partners.
The offshore company registration in different jurisdictions is the key for successful international trade and other activities. Despite big amount of offshore jurisdictions, the conditions of registration and business leading in them are very similar to each other. Frequently the choice of specific zone is influenced by its geographical location, ease and convenience of registration, economic stability in the state and even personal preferences of the entrepreneur.
General advantages of offshore jurisdictions
The majority of offshores offer the following advantages to the foreign companies:
- Complete dismissal from taxes
- Dismissal from necessity of providing accounting records;
- High level of information confidentiality;
- Low requirements to the size of charter capital;
- Lack of limitations of controlling foreign exchange operations.
The legislation of the offshore jurisdictions is normally very friendly towards foreign companies. The authorities of these states try to attract as much capital as possible and create comfortable conditions for leading international business activity. Before choosing a jurisdiction in which an entrepreneur is about to register an offshore company, it is important to carefully consider all pros and cons of having business in the given offshore zone.
Peculiarities of offshore companies in other jurisdictions
Overall, offshore company is a very convenient tool for leading international commercial activity. Normally offshore zones do not require the companies in the type of their activity except banking and insurance which require special license. A compulsory condition for dismissal from taxes is business leading strictly outside the country; any activity in the country is prohibited.
The offshore companies have to pay annual tax payment, there is a fee for registration as well. The sizes of these fees vary for each state, but in general they are not very high. The offshore jurisdictions have different requirements for the residence of shareholders and directors. As well, only an individual can be a director at times. In a number of offshore states a secretary is compulsory for the company and he or she has to be a resident of the country. His responsibilities include preparation and submission of all necessary records to the corresponding bodies if necessary.
Almost all offshore states allow the shareholders’ meeting in any part of the world, personal presence during registration is not compulsory either. Many offshores allow issuing bearer shares, this increases the level of information confidentiality. The offshore company registration procedures in different jurisdictions are similar. After registration and submission of all necessary documents the registration fees are paid and the company is included in the general company register, the owner gets the documents via post. Our company Goldblum and Partners offers you complete and qualified assistance in all registration questions of an offshore company in different jurisdictions.