Foreign Company / Offshore Company: Register Online or In Person
Foreign companies (including offshore companies that are formed in tax havens) are recognized as an efficient instrument of international business and private asset protection.
What are the benefits of such an entity registration overseas? The benefits come with the following opportunities:
- to ease the tax burden on individuals and corporates
- to enter foreign markets
- to protect assets from greedy relatives, fraudulent claims, seizure, or other losses
- to accumulate wealth and grow profits
- to administer or come into an inheritance
It is possible to register offshore and foreign companies during a personal visit or remotely. The registration will take from 2 working days to a couple of months (depends on the country).
Registration of foreign/offshore companies is the second most popular service in the offshore industry (the number one service is the opening of foreign accounts).
It is possible to register a foreign company in person (offline) or by power of attorney remotely (online).
A foreign company can be an offshore company (e.g. formed in Nevis, BVI, Belize), a midshore company (e.g. incorporated in Panama, Hong Kong), or an onshore company (e.g. registered in the USA, Canada, Germany).
The choice of the country and the mode of registration of an offshore company depends on the purpose of business, type of activity, the company’s target clients and markets.
To register a foreign company, the following documents will be required:
- Copies of the owner’s and director’s passports
- Proof of residence address of the owner and director.
Additional documents may be required depending on the type of business and the country of incorporation.
Other business requirements, depending on the country and type of company, may specify the following:
- the size of the authorized capital
- the minimum and maximum number of shareholders/members
- the minimum and maximum number of directors
- the accounting records/reports
- the audit
- availability of a real office/real presence in the country of incorporation
- a personal visit.
When choosing a jurisdiction for your foreign company, it is important to consider the prospects for opening a bank account. Unfortunately, classic offshore companies may find the task of opening bank accounts quite challenging. That is why we recommend that you should first check whether banks agree to cooperate with companies set up in the jurisdiction of your choice. Only when you have their approval in principle you can proceed with the company formation. Otherwise, to comply with the bank’s criteria, you will need to register your entity in another country.
By adjusting your choice of the jurisdiction and the bank before the company registration you will save time, money, and avoid the purchase of a cumbersome or dysfunctional offshore business. The best solution would be to follow advice of a seasoned expert.
You can find our consultants’ useful insights in the library of posts in this section of our portal.
Besides, you are welcome to discuss your questions about banks, jurisdictions, accounts, and company registration advice during a FREE private web session for individual and corporate clients.
Please book it by submitting a fillable form or by sending a request to our e-mail address / whatsapp messenger given at the top of this page.