12 items to consider before incorporating an offshore company
May 31, 2016
The vast majority of business owners make a lot of efforts to keep all personal information in secret from public, especially when it concerns a company creation. However before reaching such privacy you should pay attention to some necessary items below:
2. Make sure that the chosen jurisdiction does not have a signed Tax Information Exchange Agreement with your residence country.
3. Try to choose a country which has no requirements to public disclosure of personal data, so you will not indicate your name in the owner’s, shareholder’s or director’s details.
4. Using services of a nominee shareholder, do not forget to sign a declaration of trust before moving your business to off shore.
5. If you plan to employ a nominee director, the best way for you is to operate as a consultant or advisor on the basis of a letter of appointment and power of attorney to conduct negotiations and represent offshore company.
6. Nowadays all information, including phone calls and emails, can be available for third parties. Be careful in communication with clients, business partners, nominee shareholder and nominee director. Prudence before everything!
7. Do not transfer large assets from offshore company to your name, and vice versa, to avoid explanations of their origin.
8. Open an offshore bank account after registration of your company.
10. Apply innovative methods in the organization of the company structure.
11. Do not do a false business. Sooner or later every false company will be unmasked and the reputation of such company will be lost. There is no economic value to do unreal business.
12. Find a professional consultant or lawyer because it is an important part of your offshore business.