Frequently Asked Questions

Q. What does "offshore" mean?

A. Offshore refers to doing business in another country, with advantages of asset protection, privacy, low taxation and stable government currency control.

Q. What is an IBC?

A. An International Business Company (IBC) is one of the of the terms in the offshore industry. Basically its main features are: Simplified procedure of registration, minimum reporting requirements, low or zero taxation, and a high level of confidentiality.

Q. What are the main advantages of having an offshore company?

A. Asset protection (e.g. against lawsuit judgments), personal privacy (e.g. from intrusive ex-spouses, ex-partners or the competition), informational confidentiality of your business activities, legal tax reduction, low operation costs, unlimited market opportunities, and many more.

Q. What is an Apostille?

A. Apostille is the legalization of a document for international use under the Hague Convention. This allows a document from your country, such as a notarized passport copy, to be accepted by our international banks. We can help you with this process if you need assistance.

Q. What are the company registration documents?

A. In the majority of the countries the company's registration documents include a Certificate of Incorporation and Articles of Incorporation, or their equivalents.

Q. What is "going offshore?"

A. Going offshore means the utilization of out of country corporations, trusts, partnerships, banks, funds, and management firms, to legally safeguard assets, minimize taxes, plan for the future and take advantage of global investment opportunities.

Q. Isn't it illegal to move assets offshore or have "offshore bank accounts?"

A. It is legal to have accounts, funds, reserves, liabilities, assets etc. almost anywhere in the world. Assets or profits should be declared according to your domestic tax code (IRS, Revenue Canada, Inland Revenue etc), or else you can be subject to certain penalties and fines or more.

Setting up offshore is completely legal; however, withholding information about your offshore investments is illegal in some countries. An offshore jurisdiction should be perceived as a foreign country, but with certain advantages. These can take the form of banking secrecy laws, advantages in forming companies for international trade or investment operations, no interest tax, no inheritance taxes, no capital gains tax, no individual tax, and many others.

Depending on your personal needs or preferences, there will normally be one or more offshore jurisdictions offering the services you are looking for. We would suggest that you contact us to discuss your personal requirements in more detail.

Q. Isn't "going offshore" only for the rich?

A. This might have been so a long time ago. However, thanks to the Internet, setting up offshore is now a relatively simple and affordable procedure for almost anyone. Once having moved all or part of your business offshore, you can open up a whole new world of investment and business opportunities.

Q. What is bank secrecy?

A. Bank secrecy is a central attraction for offshore business. In some jurisdictions it is a criminal offence for bankers to divulge any information about a client's account. Exceptions are made for suspected money laundering, criminal activity, or terrorism, so anyone engaging in those activities can expect a hostile environment when attempting to hide their activities.

Q. Is my money safe offshore?

A. Many financial experts believe that offshore investing when done through reputable companies is actually safer than investing onshore. Higher reserves and greater liquidity ratios are usually found in established offshore financial institutions as compared to their onshore counterparts. In secure offshore jurisdictions these problems are nonexistent because of stricter banking laws, lower costs of operation, lower taxation, conservative investment policies, lack of shareholder pressure to maximize profits (which results in higher risk taking on loans and investments), and comparatively lower executive salaries and bonuses in offshore jurisidictions. Additionally, further safety and protection of investments and assets against lawsuits and creditors can be achieved offshore.

Q. Can anyone get information about the beneficial owners of the offshore company?

A. To preserve the confidentiality of the beneficial owners we recommend using the nominee services of director and shareholder, which we provide. You can also consider using bearer shares where they are available. Only your registered agent will have your personal details. Only with strong evidence of illegal activities can a court order be granted for government authorities to get information.

Q. What is a nominee service for an offshore IBC?

A. A nominee is a person who is not a real owner or director of the company, but who is appointed by the real owner to act in this capacity. Nominees are widely used by the owners of offshore companies to preserve their identity. By using the power of attorney, the nominee director transfers all the powers to manage the business to a person whom the real owner can trust. The companies we form for you include nominee directors, with undated, signed resignation letters so that you can reassign directors whenever you wish.