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Like any company, an offshore company will have a registered office, directors and a company secretary. It will also keep statutory books / records and file statutory returns as required and will be required to produce audited accounts.
There are numerous reasons for the formation of an offshore company and in some cases, an offshore company will be used in tandem with an offshore trust to maximise security, confidentiality and tax efficiency.
AssetHouse provides the benefit of their experience and will work with your professional advisors in setting up and administrating such companies, helping you to make the most of offshore legislation.
Aspects and Benefits of Offshore Companies:
A company is an entity with its own legal personality, separate from its owners and directors, incorporated according to the laws of a particular jurisdiction.
International companies are incorporated in stable, low-tax jurisdictions.
Depending on the jurisdiction, shares may either be bearer shares or the shares maybe egistered in the name of a trust or in the name of one of a nominee company.
International companies have a wide variety of applications and can enter into most commercial transactions.
Where the company’s activities involve the holding or transferring of funds, it is necessary for the company to have a bank account in its own name. Through our network of international banks we are able to satisfy the banking needs of these companies.
Holding companies - can be used to hold various assets worldwide including real estate, cash, bonds, shares, mutual funds and public or private shares in other companies.
Trading companies - can be used as vehicles for international trade, allowing profits to be earned in low-tax jurisdictions.
Intellectual property - companies can be used to hold patents, trademarks or any other intellectual property rights. This can have the effect of reducing taxation on royalty income and withholding taxes.
Consultancy companies - individuals abroad can consult through an international company, resulting in reduced income tax.
Double taxation treaties - international companies can be established in appropriate jurisdictions to take advantage of favourable double taxation treaties, which can have a dramatic effect on taxation.
TYPES OF COMPANIES
Even offshore, different types of companies are subject to different levels of taxation, with certain companies being exempt from tax. The right professional advice can help you to gain optimum advantage from your local fiscal and financial legislation and this is why we always recommend that you involve your advisor to work with us when setting up a structure.
Limited Liability Company
An international company that is ideal for active collections and investment holding. The company is tax exempt for non-residents. Usually the shares in the company will be held by a trust.
Global Business Company (Category 1 Mauritius)
A Mauritius company with directors resident in the country. Tax is very low and the company has full access to treaties. The recommended structure for investment and other high profile businesses.
Global Business Company (Category 2 Mauritius)
A tax exempt company in Mauritius which is ideal for international trading, invoicing, licensing, international consultancy business or simply for holding assets.
Protected Cell Company
A specialist structure for insurance, rent-a-captive or investment fund businesses.
Offshore Fund Company
A Global Business Company type company requiring a few modifications for investment fund purposes.
Captive Insurance Company
Used for Captive Insurance and “rent-a-captive” purposes.
Limited Life Company
The recommended type of company where ownership by partners is required.
The ultimate tax planning tool. Also used for asset protection purposes and for the holding of private assets.