What is an offshore company ?
An offshore company is a company registered in a jurisdiction with favorable tax rate or no tax at all. The only requirement is that the company should never have any local activities within the jurisdiction of registration.
What are the obligations of my company in regards to the tax authorities ?
The main advantage of offshore companies (belize, bvi, seychelles, st-lucia) is that they are not accountable to any tax authorities other than their own. Regarding the onshore companies like Hong Kong, UK, Cyprus and Gibraltar you will be required to report an annual accounting and/or performing an audit. It will also depend on the tax rate locally applied in these selected jurisdictions. It is important to note that even if your company being onshore/offshore does not have to pay any tax, you as a physical person will be recommend to to consult a tax advisor in your country of residency in order to be informed of your local obligations. You can ask one of our advisors to guide you.
Do I have any obligation to pay taxes on earnings / profits my company generates ?
Note that the majority of jurisdictions / countries we offer have no tax whatsoever (except onshore companies such as Hong Kong, UK, Cyprus and Gibraltar). It is important to note that even if your company being onshore/offshore does not have to pay any tax, you as a physical person will be recommend to to consult a tax advisor in your country of residency in order to be informed of your local obligations. You can ask one of our advisors if you need to know more.
What are the main activities that you can carry with Onshore or Offshore company?
• Entrepreneurship
• E-Commerce
• Consulting
• Import-Export
• The detention of real estate property
• Organizing Your Estate Planning