FAQ

Offshore or non-resident companies are described as companies that conduct an insubstantial or zero volume of business within their jurisdiction of incorporation.

More specifically, offshore companies have three characteristics: Firstly, they should be registered as an entity within the jurisdiction of incorporation. Secondly, the 'incorporators' should be domiciled outside of the jurisdiction of incorporation. Finally, the company should transact the majority of business outside of the jurisdiction of incorporation. However, most associate the term 'offshore company' as a means of increasing tax efficiency.

The shareholder is the person who owns the company through a share certificate. A company can be owned by one or several shareholders. The shareholder can be an individual or a company.

The director is the person responsible for the management of the company. He will sign any business contracts, account opening forms etc. Directors are usually elected by the shareholders, but sometimes are appointed by resolution. A company can have one or several directors. The director can be an individual or a company.

Yes. It is common that the same person acts as shareholder and director of the company.

You would need to provide us with a copy of your passport and utility bill showing residential address or a bank reference letter also stating the residential address. Both of these documents need to be notarised. It would also help to provide some form of authentication for the notary (copy of his business card or contact details). Other documents may be required if opening a bank account but will advise this at the time of incorporation. All your personal information will be kept in strict confidence in the jurisdiction of incorporation with the registered agent.

No. Seychelles offshore companies [IBC] do not impose taxes on profits made or interest earned by the company.

An offshore company may be of interest to a great number of people and it may be used for various activities:

Businessmen: Creating an offshore company allows you to begin an activity without having to deal with the set-up of a complicated infrastructure. An offshore company allows you to quickly create a stable structure with a simple administration and enjoy all the benefits of the offshore jurisdiction.

E-Commerce:Internet traders can use an offshore company to maintain a domain name and to manage internet sites. An offshore company might be ideal for people whose business is on the internet. You might choose to incorporate the registered office of your company in an offshore jurisdiction to take advantage of the various benefits offered by these jurisdictions.

Consultants: You can also carry on your consultancy or counselling business through an offshore company. You will find it easier to manage your company, while being registered in a stable jurisdiction and benefiting from all the strengths of this jurisdiction.

International business: International commerce can be carried out through an offshore company. It will handle purchases and sales operations. Holding intellectual property rights : Any kind of intellectual property right (a patent or trade mark) may be registered in the name of an offshore company. The company may also buy or sell this type of rights. It may also grant rights of use to third parties against payments.

For the custody of movable and immovable property: Offshore companies are used to hold both movable property (such as yachts) and immovable property (e.g. houses and buildings). In addition to confidentiality, the benefits and advantages they offer include exemption from certain types of taxes (e.g. inheritance tax). It should be noted, however, that some countries do not allow the acquisition of movable/immovable property through offshore structures and therefore those wishing to form an offshore structure are advised to check with a competent authority before proceeding.

For inheritance purposes: An offshore firm that always stays afloat (provided all costs associated with running it are paid) may, in some countries, be used as a means of avoiding inheritance tax laws. With a view to optimizing inheritance tax liability, the offshore structure may also be combined with a trust or a foundation.

Stockbroker/forex: Offshore companies are very often used for share or foreign exchange transactions. The main reasons being the anonymous nature of the transaction (the account can be opened under a company name).

The nominee director service is used to ensure the highest degree of privacy and confidentiality, as the name of the director will appear in the corporate documents, in any business contract and eventually in the jurisdiction's business register.

Upon appointment of a nominee director, a Nominee Service Agreement will be signed between the client and the nominee. It will guarantee the client that the nominee can only act or sign documents upon the client's request and with the client's prior approval.

The nominee shareholder is appointed in order to shield the real owner of the company from being publicly associated with the ownership of that company. Upon appointment of nominee shareholder, a nominee service agreement (declaration of trust) will be signed between the client and the nominee.

A Seychelles IBC offshore company formation that we offer are not taxed in the country of incorporation as long as they are not conducting local business within the jurisdiction of domicile.

Yes. We provide bank account introductions in a number of jurisdictions and well known offshore banking countries including Seychelles, Mauritius, Cyprus, Switzerland, Austria, Singapore and others. We have conducted the research and established the relationships for you. Some of these offshore banks offer business and commercial accounts with internet banking availability. Others offer private banking and wealth management for high net worth clients. We can advise you on which banking option is best for your needs and help you establish one or more offshore bank accounts with a suitable institution.

Absolutely. OCA Offshore follows very strict internal procedures regarding client confidentiality. We will not disclose any client information except as required by local authorities by court order. Enquiries from foreign governments, foreign creditors or any other entity or person (local or foreign) are quickly and categorically dismissed as required by law.

We implore you to keep your offshore matters to yourself. Many are tempted to talk about their offshore structures and activities, but please consider that colleagues, business partners, friends and unfortunately even family can unwittingly pass sensitive information along that can lay bare your business practices and/or overseas assets to everyone.

None of the offshore jurisdictions represented by our company have a public record of the beneficial owners of a company.

In Seychelles, offshore companies can be formed in as little as 24 hours and sometimes within the same day it is ordered. If you include the setup of a bank account this accounts for an additional 2 weeks usually.

In nearly every situation, the answer is a clear and resounding YES. Each country has different reporting requirements and tax treatment regarding offshore entities. This is why we stress the importance of obtaining professional legal and/or tax advice in your own country.

Everyone has a legal right to minimize their taxes through legal tax avoidance and protect their hard earned assets. So in short, yes it is nearly always legal to utilize offshore companies, trusts and foundations for asset protection and it is very often possible to also achieve legal tax minimization.

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