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offshore formations 247

#41
It took me a lot of time to come through all of the information and reading in this thread, must say wao what a wealth of information. The more I read the more confused I get by now I think I will have a sleep and get over it again to understand it all. difficult for a noob to know were to start with company and bank.
 
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#42
This is a great thread and if you are looking for any offshore formations you will find this forum very useful. They are all pretty helpful here.
 
#43
happyjohn said:
When I clicked this thread I thought it was about offshorecompany247.com while I realise that this is a much more interesting thread :) Thanks for sharing this valuable information, I have seen the certificates for the offshore company incorporation of a Belize and Seychelles company already, for all new to this it's a good help to get an overview of what you will get when you incorporate a company in one of these offshore jurisdictions.


[video=youtube;9h-eLSh0xzQ]

BTW: Some may watch the video above to get some additional help.
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I had some good time reading through all the information here about offshore formations of companies. But this video took it to the hights ;)
 
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#44
bionixlaunch said:
Protection of personal privacy
When compared to onshore requirements, the offshore needs for providing personal details of directors and shareholders are significantly lower. Moreover, such information being investigated, held, or becoming visible is also much lesser. Several jurisdictions allow keeping the true identity of the companies to remain shielded by allowing secretaries or nominee directors to be appointed.
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This is exactly what I'm looking for and what I have tried to achieve with my Cook Islands company. The company itself is protecting my ownership data perfectly fine but the bank in Latvia which the agent opens the account with doesn't protect my privacy at all.

It's important to consider all areas of a setup before doing it.
 
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#47
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#49
When we enter an offshore business or company and having to maintain an Offshore account is not an easy task at all. This was an eye opener for most of the people here since they thought opening an offshore account is easy and some are quick to act before they think about it first.
 
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#50
bionixlaunch said:
Offshore formations 247, what is it you need to know before you enter into a offshore company formation, learn it all here today!


Five reasons for offshore company formation
When discussing offshore and company incorporation, it generally implies any jurisdiction other than the one where the formed entity will conduct a large majority of its activities. Commonly such jurisdictions provide certain degree of taxation and/or reporting advantages, which makes it attractive for business owners. When you consider offshore company formation, you will definitely be able to take advantage of at least one of the five advantages discussed in the following paragraphs.


Operational ease
Depending on the chosen jurisdiction and the kind of business activity proposed to be conducted by the newly incorporated entity, there are operating restrictions. Moreover, these factors also determine the accounting and auditing requirements and standards to which the company, directors, and employees will have to adhere to. It is common for all these restrictions to be much lesser offshore than those for onshore entities. An exception being financial services companies that need to comply with additional regulatory legislation to protect the clients. Operational ease especially for small and start-up ventures reduces operational expenses and significantly reduces the time and efforts of directors and employees in complying with such requirements.


Simplified reporting
Most of the popular offshore locations require fewer and simpler reporting norms. This is primarily because the business activities conducted by the company are majorly done outside of the jurisdiction where it has been formed. Moreover, it is not compulsory or mandatory for providing personal and other details of the shareholders and directors of offshore entities. Even when such information is needed, it is much less and not intrusive.


Reduction of tax liability
One of the most important reasons for offshore company formation is the reduction of tax liability. When you choose a low or no tax location, you can save significant amounts of money without any illegality. The general rule is that if the company does not earn any money within the jurisdiction, there is no requirement of paying taxes. This makes it possible for using an offshore entity in an overall international structure and ensures the profits are reported in the offshore jurisdiction, which results in no tax liability. Several international conglomerates operate in this manner and are able to actually negate their tax liabilities.


Protection of assets
Choosing to operate from a jurisdiction outside of the one where the company conducts its business activities can sometimes make it possible for positioning assets away from the reach of possible litigations. Moreover, it can act as a shield for business transactions from becoming known to the competitors.


Protection of personal privacy
When compared to onshore requirements, the offshore needs for providing personal details of directors and shareholders are significantly lower. Moreover, such information being investigated, held, or becoming visible is also much lesser. Several jurisdictions allow keeping the true identity of the companies to remain shielded by allowing secretaries or nominee directors to be appointed.


Although, these are some of the possible benefits available for offshore companies, seeking professional advice and assistance is recommended. This can make the entire procedure of offshore company formation quick, simple, and efficient.
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Such a complete formations form. Thank you for sharing it mate. It really helps me a lot.
 
#51
Yeah it all comes down to what you require from your provider of offshore company formation & bank account if it's just a simple setup you don't need anything special from them and therefore can use some of the basic and cheap providers. If you require communication, good support and special documents to provide then it's going to be difficult to find the good once!
 
#54
Hi, apologies if i have missed anything. But since there is more than one reason to create an offshore company such as Inheretance or Privacy.. Id like to ask a noob question...Is it possible to create an offshore company+bank acc such as Belize & Cyprus bank acc and use it for personal uses or daily personal transactions?

Am i correct in assuming that using a Business Bank acc for Personal use isnt allowed for all business setups.. for eg. it wont work with a setup for Cyprus Company+Bank acc, because of the reporting that needs to be done each year for a Cyprus Company or another similar company, right?
But on the other hand, Belize Company + Cyprus Bank Acc no reporting needed and therefore can be used for Personal + Business transactions?

Hope to get some clarification for this question. And if it has been asked before, please point me in the right thread. thanks!
 
#55
John2784 said:
possible to create an offshore company+bank acc such as Belize & Cyprus bank acc and use it for personal uses or daily personal transactions?
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Yes that is possible, you may read that it is how most here are using such.

John2784 said:
Am i correct in assuming that using a Business Bank acc for Personal use isnt allowed for all business setups.
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Who is going to stop you from doing that? again the majority here will use it exactly like that!
John2784 said:
But on the other hand, Belize Company + Cyprus Bank Acc no reporting needed and therefore can be used for Personal + Business transactions?
Click to expand...
true
 
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