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Offshore business and its services

Offshore business and its services

Offshore is translated as "isolated" or offshore. The economic meaning of a word implies an object that is the property of a country, but is beyond its borders. Business is called offshore when its manager (leader, founder, founder) is not a tax resident of the state in which the company is legally registered. This type of business activity is subject to taxation in the country where it occurs. Typically, this is a country with a fixed annual turnover or low taxation.

Offshore business and its services

Often, in the offshore business, all business activities are carried out in international companies, where a number of branches are located in countries where there are investment, tax, and other types of benefits - tax havens.

The most popular countries where offshore companies are registered are: UAE, Cyprus, Ireland, United Kingdom, Panama, as well as a number of other jurisdictions located in the Caribbean, Bermuda, etc.

The opening of an offshore company is not a complicated procedure. To do this you need to have one shareholder or director. The process of registering an enterprise and obtaining the entire package of securities may take only 24 hours. And approximately after a week, you can safely begin to work. The exception is Singapore and Dubai, as here the registration procedure may be delayed for months.

Seychelles documents for a small firm will cost about $ 500, and for a large one - from $ 100,000. It should be noted that the Seychelles are attractive to the business without the existence of a tax on profit and VAT there.

Cyprus is noteworthy that entrepreneurs there should be duty bound not to hide the name of the head of the firm and submit annual accounting.

It is easy to obtain a license and permission to open business in Cayman, Antilles and Panama. There are no rules on accounting and auditing of auditors. Shareholders are free to hold their annual fees in any country in the world.

Offshore service cost consists of the following elements:

payment for legal addresses, annually;
annual payment for the right to conduct business is the state fee. The price for services is about $ 500. Here, depending on the jurisdiction;
preparation and filing of financial securities. Price directly depends on the jurisdiction and work volume;
payment for the services of the registered agent, in other words, the nominee director, acting on behalf of the true owner of the firm, and in accordance with its instructions;
annual receipt of a certificate of good condition, after the state duty paid. He is presented in a bank where an account of an enterprise is opened. The certificate is a certificate of well-being of the firm.

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