Our clients are more and more striving to find solutions which could make their international activity more compliant. We collected the most important aspects to select the most suitable offshore jurisdiction.
Political and economic stability
The pre-condition of establishing an offshore company or any other interest is to operate at a location where politics and economics are stable; therefore, the business activities can be carried out in a relaxed environment and on secure corporate law foundations.
Modern forms of corporate legislation have been introduced in a number of offshore and financial centres which are expressly adjusted to the requirements of international business, while other countries have amended their existing legal regulations to create laws which meet investor requirements. The most important requirement is to have modern and flexible legislation; a low amount of equity capital; minimal reporting obligations; the opportunity to hold members’ meetings and board meetings anywhere; the opportunity to appoint trustee members and professional officers and the option not to prepare reports. It is also important to handle client data confidentially.
Characteristics of corporate law
Several offshore locations focus on having corporate laws which at least respect the following characteristic features:
- Limited liability
- Minimizing the liability of managers – in general, managers are responsible for the activities of the company, but in certain areas, managers are entitled to request a compensation from the company or its actual owners
- Minimal or optional statement obligations prescribed by law
- Opportunity to appoint shareholders to be displayed for unauthorized individuals
- Disclosing the actual owner shall either be optional or limited to special authorities, such as the regulatory authorities or the central bank
- There is a wide range of allowed names for the company using the suffixes to indicate the limited liability nature of the company
- Low capital requirements
- Possibility to hold board and/or members’ meetings anywhere in the world
- The financial report must not be subject to auditing.
Range of professional services
The administration of any company registered in a location implies legal and accounting duties to be solved. Therefore, it is important to choose a location of operation which offers a wide range of options regarding companies, providing legal and accounting services which offer cost effective services in line with international standards.
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