Registration of offshore company.

Offshore is an economic zone with much more attractive conditions for doing business compared to other countries. With offshore company registration, the main organization will be able to receive a number of advantages. First of all, they involve taxation and reporting. In addition, some offshore zones allow you to maintain the confidentiality of business owners or even appoint nominee personnel.

«Zigma» Law Firm offers its clients offshore company registration services. Our specialists have vast experience in this field. «Zigma» lawyers will help you choose the right jurisdiction for your business, establish a legal entity, and start working in an offshore zone. We will also provide any additional legal services to accompany your organization.

Hong Kong.

An offshore company in Hong Kong is registered as Private Company Limited by Shares. Such a company does not have the right to issue bearer shares. The level of confidentiality in this country is low; all data about directors and founders are in a public registry.

In Hong Kong, there is a need for record keeping. It is necessary to submit a declaration every year and keep all reporting documents for seven years. An important advantage of this country is that it is generally considered quite reliable. Company registration offshore in Hong Kong will allow you to open bank accounts in Europe and Turkey.

The level of taxes in the jurisdiction is low. Companies are required to pay:

• The minimum annual tax – $320 per year;
• The budget fee – $65 per year.

Thus, offshore company registration in Hong Kong will allow you to save significantly on taxes.

UK.

UK offshore company registration is a good solution for companies that want to do business in a respectable jurisdiction. Non-resident companies can be opened in such forms of ownership:

• Limited Liability Partnership (LLP);
• Scottish Limited Partnership (SLP).

Let's consider the LLP's main features. The key nuance of the UK as an offshore zone is that organizations in this form of ownership do not pay income tax. It is paid by partners who receive this profit. However, if the partner is not a resident of the UK, then they must pay taxes in their country of residence. Accordingly, with company registration offshore in the United Kingdom, this tax will be 0%.

A partner in such a company may be an individual or a legal entity. No citizenship or residency requirements exist for offshore companies registration in the UK. For registration, at least two persons are required; they are appointed as responsible persons. They are liable in case of violation of the law (for example, filing incorrect reports). Filing a financial report and reporting on the profits received annually is necessary.

Delaware (USA).

Delaware offshore company registration is an opportunity to open a business in the USA and pay low taxes. This state has the lowest taxation. The best option is to register an offshore company in the form of LLC ownership.

The income tax principle in Delaware is the same as in the UK. Non-residents pay it at their place of residence but not in the United States. The only tax that everyone has to pay is the franchise tax. Its rate is $250 per year. However, it is important that the company does not conduct business in the United States.

As for reporting, there is none if the company does not register for tax purposes in the United States. If the organization does this, it will need to file an annual return and pay income tax as a US resident. However, in the case of tax registration, the company will be entitled to provide services or sell goods in the United States.

In order to register an offshore company in Delaware, you can contribute an authorized capital of $1. The best option is the authorized capital in the amount of $1000.

Cyprus.

Cyprus is a member of the European Union. The jurisdiction is on the OECD white list. Registration of an offshore company in Cyprus allows you to operate freely in the European market.

Taxes in this jurisdiction must be paid, but they are low. The income tax is 12.5%. However, it does not need to be paid for the dividends received. There are very low rates for a passive income of non-residents; in some cases, the tax can be 0%. If you register an offshore company in Cyprus, you will not need to pay capital gains tax. It is also important to consider that this country has agreements on the absence of double taxation with a large number of other states.

Both an individual and a legal entity can register an offshore company in Cyprus. There are no requirements for the citizenship of shareholders, but there are requirements for the director's residency. They must be a resident of Cyprus. If several directors are planned, the majority must be residents of that country. There must also be a secretary. There is a requirement for their residency – Cyprus. In general, Cyprus offshore company registration will be a good solution for companies that want to work in the EU markets (outside Cyprus), open bank accounts there, etc.

UAE.

The United Arab Emirates is one of the popular offshore jurisdictions for companies operating in Asian markets. The peculiarity of this country is that there are special free economic zones. The feature of the UAE as an offshore zone is that this jurisdiction provides a high level of anonymity. It has not entered into beneficiary disclosure agreements with other countries.

UAE offshore company registration provides exemption from a range of taxes, including:

• Personal income tax.
• Wealth and capital tax.
• Import tax.
• Sales tax.
• Excise duty.

In the Emirates, full repatriation of profits is possible. In addition, the registration of an offshore company in the UAE allows its head to apply for an investor visa. This is a very important advantage, given that the UAE passport is recognized as the most valuable in the world.

It is important to be aware of the citizenship requirements for investors. If you create a legal entity outside the free economic zone, 51% of the shares must be owned by the founder with UAE citizenship. There is no such requirement if you intend to register an offshore company in the SEZ.

Free economic zones in the United Arab Emirates have their own characteristics. They may differ in some requirements for opening a company, the size of the authorized capital, etc. The most popular option is Jafza offshore company registration (in Jebel Ali), which is located in Dubai and is the oldest of all free economic zones in Dubai.

British Virgin Islands.

The British Virgin Islands is the world's largest and most popular offshore zone. Up to 40% of all companies of this kind worldwide are registered here. The BVI is considered a classic offshore zone, which does not disclose data on the ultimate beneficiaries. This provides a high level of anonymity. However, data on owners and directors are still stored in a special electronic register. Still, the registry is not public, and data can be disclosed only by a court decision.

Registration of an offshore company in the BVI is very beneficial in terms of taxes. There are no following taxes:

• Income tax.
• Capital gains tax.
• Inheritance tax.
• Corporate tax.
• Tax on the sale of assets.

Taxes can only be paid by residents of the British Virgin Islands. If the company is a non-resident, it pays nothing. The company's residence is determined according to the same principle as in the UK.

After offshore company registration in the BVI, you do not have to file tax returns. However, there are requirements regarding bookkeeping and record keeping. In the BVI, you can get an investor visa and apply for citizenship in this territory in the future. Since the BVI is a UK dependency, investors with local citizenship are free to visit the UK and other associated territories.

Why is it worth entrusting the registration of an offshore company to «Zigma»?

The «Zigma» Law Firm offers clients the services of offshore companies registration in various parts of the world. The specialists of our company have extensive experience in this field. We cooperate with the world's leading offshore jurisdictions; we know the specifics of the legislation and will help you register an offshore company as soon as possible.

The first step is a consultation. A «Zigma» specialist will listen to your requirements and wishes and help you choose an offshore jurisdiction. Also, our specialists will help prepare all the necessary documents, file an application, and provide legal support for the offshore company registration procedure. In case of refusal, we will appeal the decision of the regulatory authorities.

«Zigma» offers competitive prices for the registration of offshore companies in any jurisdiction. We also offer additional services. For example, it can be a subscription legal service for your company. «Zigma» experts are aware of all the peculiarities of corporate and tax legislation in offshore zones. We will advise on any issue, help with paying taxes, keeping records, etc.

You may be interested in:

• Sale of ready-made offshore.
• Registration / Sale of companies in the UAE.
• Services of a financial lawyer.
• Nominee director for the company.