Offshore Company Land NewsLetters?
Does it matter where I incorporate my Offshore
Staff writer: NetIncorp.com
August 21, 2012
That was easy.
We would love to sit here and tell you that the British Virgin Islands (BVI) is
the best place to incorporate offshore for everyone in any situation possible,
but we won't. The best place (jurisdiction) for you to incorporate an offshore
company depends on several factors. The main factors are your corporate
requirements, budget, citizenship and or your current residency.
Your corporate requirements relate to what you plan to use the offshore company
for. Sometimes an offshore company may not be an appropriate vehicle for what
you are trying to accomplish. An offshore jurisdiction that is Not
known as an offshore tax haven may be a better option. Most of the major
offshore jurisdictions offer very similar company incorporations. Sometimes the
company incorporation laws are virtually identical (I wonder how that
The main differences are what activities the offshore company can be involved
in. Some jurisdictions approve business activities that others restrict or even
block. You have to do research to find out if what you are planning to do is
possible before proceeding with an incorporation in any jurisdiction.
Your budget is always a factor. You don't want to spend a lot of money on an
idea that may turn out to be unsuccessful. On the other hand, you may have a lot
of extra money so overspending on your offshore company formation is not a
The prices of offshore company formation services varies from jurisdiction to
jurisdiction. Some providers have mandatory additional service fees that you
have to consider in your total cost. These mandatory services are sometime
required by the corporate laws of the jurisdiction the company will be
incorporated in. You have to determine what you are willing to spend to proceed
with your idea.
Your citizenship and or residency determines the overall benefit of using an
offshore company. The reporting requirements in your home country or your
current country of residency may outweigh the benefits of using an offshore
company. You have to ensure that the corporate structure you set up in an
offshore jurisdiction complies with the reporting laws that are applicable to
you. There are professions that can help you with this.
Don't depend on offshore secrecy laws for your offshore company to be successful
or tempt you to be not in compliance with the reporting laws that are applicable
to you. Although most offshore jurisdictions keep the names of the directors and
shareholders private and not available to the public, this information can be
released under certain circumstances. No offshore jurisdiction wants a bad
reputation and there is no sense in protecting someone that is giving the
jurisdiction a bad name. Just do the right thing and there will be no problems.
If you have any questions about the above, send us an email.