Crucial Steps to Consider Before an Offshore Company Formation

Offshore company formation will provide you with many benefits. To get the best results, you need to work with a trusted and reliable offshore company formation and registration service provider that is based in the country where you want to set up your company.

Here are the crucial steps you should consider before you proceed:

•    Think about your needs – Determine what structure you need, the number of people who will be part of it, and the offshore jurisdiction that fits the needs of your company.  Likewise, list down any additional services that you might require for your company, such as nominees and an offshore bank account.

•    Consider your options – Jurisdictions such as Seychelles, Belize, Anguilla, and the British Virgin Islands have become quite popular in the world of offshore company formation. Companies formed in these jurisdictions are referred to as IBCs (international business companies), which are similar to private limited companies. An IBC has a board of directors, share capital, and shares, except that the shares are not publicly traded. IBCs are generally exempted from taxes. This type of structure offers higher levels of privacy and confidentiality.

•    The other types of structures you can consider include private limited company and Limited Liability Company. The latter is not usually common in offshore jurisdictions, but it can be formed in countries like Panama and Belize. Private limited companies often provide tax exemptions or apply incredibly low tax rates, but when it comes to confidentiality, it’s hard to beat IBCs.

•    Get help – Contact a leading offshore company registration and formation service provider that provides its services in Seychelles and other offshore company jurisdictions. Make sure they are regulated and licensed professionals who have years of experience in helping businesses and individuals like yourself get started in offshore company formation.  The service provider will provide guidance and consultation, assist in drafting of the documents for company formation, and take care of the actual process of incorporation.