Offshore company registration
Registering a company abroad is not a complicated task but we recommend to take precautions is terms of privacy and obligations that you contract. Offshore companies are entities that are regulated by the commercial registers of a country of registration, generally free of taxes. Depending on the use that is going to be given to the company, an offshore company can be registered in an anonymous or public way. That is, if the country considers that its commercial register is private, as is the case, for example, with Belize, Panama or Saint Vincent and the Grenadines, the company will be anonymous for all purposes and when a person or entity consults the mercantile registry of the country will not appear any data related to the company. However, if the country considers that its commercial register is public, such as in Hong Kong, the person or entity that consults the data will see all the data of the final beneficiary. Is the information about the company automatically reportable? The answer is No. The offshore and onshore companies are not automatically reportable, that is, the commercial registry of a country will never report information of the final beneficiary to other tax agencies. The automatic information treaties only affect the bank accounts and not the offshore companies regardless of the share capital with which they are incorporated.
The registration of a company should be done well and since with this registration the client contracts annual obligations set by the government of the country where it has been registered. Annually for a company to be active the client will have to pay the fees imposed by the commercial register to continue benefiting from the tax exemption. In this way you can request any type of certificate that may be required in other countries, such as the "Good Standing" certificate or apostilles of the "Certificates of Incorporation". When closing an offshore company it will be essential that the company has paid all the fees because if not the company could not be closed and it would remain as an abandoned company with debts incurred. This may cause many problems in the future when registering another company in the same country or opening a bank account in the same country.
In this section you will learn what is an offshore company, how offshore companies are used, how to register legally a company, how to renovate a company or close it temporarily or forever.