The Significance of using Offshore Companies

(1) Limited Liability of Offshore Companies. Countries and regions such as Hong Kong, Singapore, United Kingdom, United State, Australia, New Zealand, South Africa and among others offer limited Liability as a benefit for the shareholder who can limit their liability by the amount of the capital subscribed by the shareholders. For example, if a shareholder has subscribed US$10,000 capital from offshore company. When a company is faced with legal claims and is required to compensate the claimant, the shareholders would limit the liability to a maximum of US$10,000, even if the claim exceeds this amount. Except for liability concerns, a separate legal entity can divide the company and shareholders, in order that any legal action involving the company would not relate to any individual shareholders but the company itself.

(2) Perpetual Characteristic. Through the separate legal entity benefit, a shareholder can transfer the shareholding to a successor, family members or any third party, which can continually operate the company forever until the shareholder decides to cease the company operation.

(3) Tax Benefit. An Offshore Company does not require paying Profit Tax, Capital Gain Tax, Interest Tax, Inheritance Tax, Stamp Duty on share transfer among others. It is simply tax free in all areas.

(4) Privacy. Except for the Cayman Islands and Mauritius, all the directors, shareholders and ultimate owners’ information and their details are not required to be filed with the local governments. Therefore, any third party cannot obtain a search report from a local government on the company information and its structure.

(5) Law. Most of the offshore countries are using the International Business Company (“IBC”) law, which is based on the British Common Law.

(6) Bank Account Opening. All of these companies can open a bank account in any country including Hong Kong, Singapore and other  offshore banks including Seychelles, Mauritius, Cyprus and many others.

(7) Time to register an offshore company. It is possible to register a new company in one to two days in some of the common offshore countries (BVI, Seychelles, Samoa, Belize etc.).

(8) Shelf (ready-made) company availability. Our company has more than 300 shelf companies under different jurisdictions. All of these are registered for the purpose to provide an instant company for business. Please visit our shelf company page to view the list.

(9) Annual Requirement. In general, all offshore jurisdictions (except Cayman Islands and Mauritius) only require the payment of an annual government fee in order to maintain the company in good standing. Local governments do not require the preparation or filing of financial accounts or an annual report on the company’s corporate structure.

(10) Cost. The minimum first time setup cost and annual maintenance cost are only US$650 and US$850 respectively. There are no further costs. It is very attractive to use an offshore company because there are numerous advantages and benefits.

 

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