Offshore Company Formation

Will your business benefit from offshore company formation? Overseas Corporate Services Ltd offers business owners the opportunity to seek out the advantages of having a company located in offshore jurisdictions throughout the world.

What is an Offshore Company?

There is no exact legal, business or tax-related definition to the terms 'offshore company' or 'offshore business. 

Examples of offshore company formation include creating local businesses in the following Jurisdictions: 

Setting Up Offshore Companies 

There are many reasons why an individual, a family or a business would want to create an offshore company which are individual to each circumstance. 

Here are a number of types of offshore company formations which offer benefits for tax planning and international business: 

Low or Zero Tax Offshore Companies: There are a variety of countries where an offshore company can be created to benefit from the low or zero tax that they offer. 

Countries which provide low tax or zero tax benefits to an offshore company include; Brunei, the Seychelles, Belize or the British Virgin Islands. 

Tax Advantageous Onshore Companies: There are a number of onshore countries which offer tax advantages to help your business for specific international developments. 

There is a wide range of onshore high tax countries which are keen to attract international companies into their jurisdiction by offering a range of tax planning opportunities. 

Limited Liability Companies: A Limited Liability Company (LLC) or a Limited Liability Partnership (LLP) are companies which are developed to divide profits amongst its members according to their respective holdings. 

The tax is paid as they receive them. If the members are not domiciled within the country in which it operates, there may not be any tax requirements on them at all.  

 We are here to help you with everything that you need to set up your offshore company, including complete offshore company formation.

Differences Between Domestic Companies and Non-Resident Companies

The main differences between domestic and non-resident companies involve tax structure, asset protection and confidentiality levels. Another main difference is the fact that Non-Resident companies, also known as offshore companies, involve getting work completed in a different country. 

 Non-resident or offshore companies provide status' to foreign companies, making them exempt from paying tax. These rules are there to attract foreign companies, businesses and investors to the country. 

However, in order to be exempt from paying tax, non-resident companies must limit any commercial activities that are done outside of the borders. They must also stay away from doing any business with the locals.  

 Domestic, or onshore companies don't actually have any clear boundaries that are set in stone, but the main difference is that the work is done in the home country. 

Why Form an Offshore Company? 

 An offshore company is where you get your work done in a different country, other than your residential country, and you can massively benefit from forming an offshore company. 

For example, you can reduce the taxes of your company by forming an offshore company, and these companies also provide a high level of asset protection.   

 Offshore financial centres also give companies the chance to be in business with no requirements that restrict them from making more money and provide them with supportive corporate laws and regulations. 

If you require any further information or have any queries or questions, please get in touch with a professional before forming your offshore company.

What Type of Businesses Benefit from an Offshore Company? 

Companies can benefit from an offshore company or many different reasons. There are specific companies that benefit more from offshore companies than others.  Here is a list of the types of businesses that benefit from offshore companies: 

• Offshore savings and investments
• Digital-based companies 
• Forex and stock trading
• E-commerce 
• Holding Companies
• Internet Service Providers 
• Professional service company
• Ownership of intellectual property
• International based company
• International trading 

For example, if you decide to set up an online business, you have a UK passport, live in a different country and process your business payments in a third country, then your company will benefit from the reduced taxes.

Offshore Company Requirements 

 It is quite straightforward to form an offshore company. 

Firstly, a Memorandum of Association, which presents external activities, and an Articles of Association, which presents internal matters and information about the company itself, must be drawn up and submitted. 

Then, you need to send the following documents to the Corporate Registers Office: 

•  Your Name, 
• Date of Birth, 
• Security Number and National Insurance Number 
• Notarised Bank Statement 
• Corporate Application 
• Document Reference Letter from your Bank 
• Professional Reference Letter 
• KYC Documents 
• Copy of your Passport 
• Copy of a Utility Bill that Shows your Address 

Contact Us 

 If you want to benefit from offshore company formation, contact us today. We can provide all the assistance that you require to set up an offshore company. 

For more information about companies formation or registering a Ltd company, please contact us on +44 (0) 7930 483223.