Registration of companies and offshores
-
The set of minimum requirements depends on the jurisdiction of the offshore company.
The standard set of documents includes the following:
- documents proving the identities of the company's beneficiary and attorney (national passport or foreign passport);
- confirmation of the residence address (a receipt for payment of utility bills most often can serve as such confirmation);
- short description of the business.
It must be noted that the more prestigious the jurisdiction, the more requirements are set to the documents.
-
A classic offshore jurisdiction is the most convenient. This convenience is associated with the following:
- complete absence of taxes (accordingly, there is no need to maintain tax reporting);
- maximum privacy;
- acceptable cost of the company registration.
If the business operation allows classical jurisdiction, then it is recommended to choose this option.
-
The following organizational and legal forms are used most often:
- limited liability company;
- organizational and legal form of business that combines the properties of a general partnership and a limited liability company (Limited Partnership);
- private limited company (Limited).
The goals of the business owner must be taken into account when determining the organizational and legal form, in the first place.
Opening bank accounts
-
There is no universal set of documents; each foreign bank presents its own list of the required documents. However, the minimum set includes the following basic documents:
- confirmation of the identities of the beneficiary of the company and the signer of the account;
- corporate documents for the company, when opening a corporate account;
- business description;
- documents confirming the residence address of the account holder, beneficiary.
In some cases, foreign banks may request a biography of the account holder (experience, qualifications, education, current position) and confirmation of the source of the company's budget and assets origin.
-
Each foreign bank sets its own terms for opening an account. The timing usually varies depending on the requirements of the financial institution.
In most cases, the account is activated within a week after the bank receives the required information and documents.
You will be notified about opening the bank account by email.
-
Yes, there have been such cases. The bank can refuse to open an account, and it is not obliged to explain the reason. This is why we cannot give a 100% guarantee that the terms of the agreement will be fulfilled.
If the bank refuses to open a personal or corporate account, we will assess the situation and offer alternative banking options.
Additional services
-
No, you don’t. Registering your company is our responsibility. We will arrange the creation of the actual address of your company and deal with the creation of your virtual office.
-
No, there is no need. Outsourcing is one of the most popular services for doing business today
You can always contact us if you need professional legal support.
Our lawyers not just deal with drafting various types of contracts, but also constantly monitor changes in foreign legislation.
