Offshore FAQ

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Offshore Company

An offshore company is a non-resident company in a country where it does not pay taxes and does not keep accounting, and whose partners benefit from anonymity.

For this, three conditions must be met:
1) That the partners do not have the nationality of the country where their company is registered.
2) That the partners are not residents of the country where their company is registered.
3) Do not do business with companies in the country where your company is registered.

The onshore company is nothing more than a company registered in a country where taxes are more advantageous, as in the case of England, Cyprus and Malta, whose taxes are levied, the keeping of accounts is necessary, but the flexibility of their tax systems encourages us to offer them as efficient destinations for certain activities.

And there is nothing illegal about that. What’s important here is the reason to open an offshore account: it’s not illegal if it is done for legitimate reasons.

For all jurisdictions, we propose names already available or choose one on your behalf, if you authorize us, in order to save time. However, if the name is important to you, you can request the availability check; When it is approved, we will register it, of course, with an average delay of two weeks added to the usual registration deadlines.

The jurisdiction for an offshore company is chosen according to the nature of its business and taking into account the countries with which it will have commercial relations. The registered office is the physical address of the company that, in principle, will be made in our offices in those jurisdictions in which we operate directly or in the offices of the law firms with which we work locally.

A Director “Nominee” is the person in charge of registering your company and will appear as a local representative in the public records of the country in question.

Once the company is created, this “nominee” director will draw up a complete transfer of powers of assignment of the shares of the company in favour of you, thus concluding your executive function.

This document of integral transfer of power will be certified by a notary and will include the Apostille of The Hague, as proof of legalization, before the originals are sent to the bank, to open the business account. This is to show that you are the only beneficiary who has rights in the company and in the accounts that you open.

You are the one who appears in the Power of Attorney, as the only person authorized to act on behalf of the company.

Only those who appear in the Power of Attorney and only those who signed the Power of Attorney when opening the account may at some point authorize other signatories to access it, always remaining as the only signatures authorized for that bank account the signatures that they have.

Anonymity is guaranteed with the power of attorney, the Power of Attorney, which is a document drawn up through a private agreement and for which there is no copy left in any registry: only you and the bank will know the only authorized signatories on the account.

In offshore companies, there are no taxes so there is no accounting.
In European countries, when it comes to onshore companies, you send the sales and purchase invoices and we take care of all the accounting for you.

We provide you with a model that reflects the coordinates of your company, your registration number and other usual regulatory and mandatory details, and with it you will be able to invoice your clients, sending them invoices by email.

In any case, our Telesecretariat service is at your disposal so that we can take care of all this management, following the instructions you give us.

Like any company that invoices abroad, you will not apply VAT, thus invoicing “tax-free”. This is the case regardless of whether the company is in an offshore jurisdiction. Onshore companies are usually assigned an intra-community VAT number to be able to invoice without VAT and “tax-free”.

Each year the following obligations must be fulfilled:
– Payment of a full fee (between 500 and 1,200 euros depending on the jurisdiction)
– Renewal of the social address of your company
– Renewal of the Director and the Secretary Nominees.
– Obtaining a new Power of Attorney, with its Apostille, which confirms that all the obligations of the company have been satisfied.

We will always inform you in advance of your renewal date and we will supervise the execution of all these procedures.

It is indeed possible, as long as the company is not in use, and this cost varies according to the country in question.

Offshore​ Bank account

In some jurisdictions, it is essential to visit the bank in person to open an offshore account.<br> However, there are countries where you don’t have to travel. This is particularly the case for the majority of European countries. It is, therefore, best to seek advice from our team of experts in order to take advantage of the remote opening. The procedure is then carried out online by email mainly.

It is completely legal to have a bank account abroad. In fact, a person has the right to have a bank account in a country other than his own, in particular in a jurisdiction that offers tax advantages to non-residents. However, this account must be declared to the tax authorities of your country of residence. For more information.

The opening of an offshore bank account must be declared to the tax authorities of your country of residence. In fact, as a tax resident, you are taxed on what you own anywhere in the world. Therefore, failure to notify the tax authorities of this opening can be sanctioned with criminal and financial penalties of up to € 10,000.

Opening an offshore account can be done online in a period that can vary from a few days to several months, it all depends on the offshore bank you are dealing with, the necessary documents and the laws.

The account is by default in euros or dollars, at your choice, although it can be requested in any other currency; in any case, the account is always a multi-currency account, which allows you to receive income in any currency without any expenses for currency exchange management.

Les montants varient de 1 000 à 9 000 euros par jour, selon la juridiction et le type de carte choisi.

Yes, the account is opened with a Visa or Mastercard, so the three usual versions are available: Business, Gold or Platinum.<br> The prices of these cards are established by Visa or Mastercard. It is also possible to create subaccounts with several cards for the use of different partners.

The amounts range from 1,000 to 9,000 euros per day, depending on the jurisdiction and the type of card chosen.

Commissions for cash withdrawals and payments are established by Visa or Mastercard in each country. They normally range from 0.5% for card payments to 1% for ATM withdrawals. This does not depend on your bank but on the distributor or the chosen point of sale as well as the country in which you are making your purchases.

Some banks still issue them and others don’t. In general, chequebooks are obtained only for onshore companies.<br> Most banks and countries have been eliminating the check from their banking systems; It is considered an archaic figure since Visa or MasterCard can make payments for the available balances in the account. And also because any type of transfer can be carried out over the Internet and immediately.

In most cases, banks will not accept your checks before having with you at least 6 months of proven solvency relationship, since the period for cashing a check abroad is long (3 to 4 weeks) and in In the event of a return, your offshore bank will be obliged to debit the cost of said return to your account at the risk that it is out of balance at the time of the incident.

As with any bank, an account manager will be assigned to you and you can communicate with him by any means of your convenience, such as telephone, fax or e-mail, although you may at any time, request our help for any type of dialogue if this facilitates your efforts.

It will depend on the country where your company is registered and on your choice of the country where you open your account. In offshore structures, the company and the bank are not usually in the same country, since it is generally easier to have an account in euros in Europe and with no time difference to facilitate communication.

In addition, the stability of the European countries, whose monetary policy is controlled by Brussels, allows the funds in your bank account to remain unchanged.

In some jurisdictions, it is essential to visit the bank in person to open an offshore account.
However, there are countries where you don’t have to travel. This is particularly the case for the majority of European countries. It is, therefore, best to seek advice from our team of experts in order to take advantage of the remote opening. The procedure is then carried out online by email mainly.

You can connect to your bank’s Internet interface and make any transfer online with immediate effect. In addition, they can also send requests by fax by entering an identification code. This system is available in all banking institutions.

A foreign transfer to be received takes an average of 48 hours to reach your account; Transfers sent from your account will be charged immediately with the value date of the day you make them, which guarantees that the payment to your beneficiaries is fast.

You are the only signatory on your account and you can do all the operations you want.

When opening an account, you must normally make a minimum deposit of 300 euros (500 US $), in order to obtain your Visa or Mastercard.

Overdrafts are not possible because this type of account is a “current and demand account”; If you do not have funds in the account, payments will not be possible.

Contact us

The first consultation with our team of experts is a privileged moment to discuss and validate the viability of your project upstream. Each consultation is prepared in advance to best answer your questions. All this work done before and during the consultation deserves compensation.

All our consultations are guaranteed “satisfied or refunded”. If you are not satisfied following the exchange with one of our experts, simply tell us the reason by email and we will proceed with the refund. The refund will be made using the same means of payment as the one you used when booking the consultation.

Also note: the costs of this first consultation will be deducted from the final invoice if you decide to work with us.

We manage all the administrative procedures necessary for your new company, including the payment of registration fees, the appointment of the nominal director, the annual registered address, and the preparation and editing of all the annual corporate minutes. Depending on each type of company, various documents are particularly useful for opening bank accounts; we guarantee the availability of such documents.

In addition, as a company without a bank account is not very useful, we will prepare on your behalf all the necessary forms for you to open an account, we will also write a two-page note written in English addressed to the bank to which we submit the application, including those concerning your new company, which will often be required originals. We supervise the opening of the account and answer the questions posed by the bank until the bank confirms the opening. And then we will remain at your disposal to manage all the information about your banks and your new company, as well as the necessary activation processes and other routine matters.

Our service offers a guarantee of ends and not simply means. Therefore, our fees are paid in half at the signing of the constitution order, and in the remaining half at the time of obtaining the Registration Number of your company.
This commitment is not contractual.

Offshore Licenses

Depending on your needs, we can help you obtain any required license from the offshore jurisdiction you are interested in. For example, we have helped our clients obtain Licenses in Forex, Online Games, Transport, Electronic Money Establishment, Payment Establishment and even cryptocurrencies. Contact us for more details.

En fonction des besoins de votre entreprise, nous pouvons vous aider à obtenir toute licence requise auprès de la juridiction offshore qui vous intéresse. Par exemple, nous avons aidé nos clients à obtenir des Licences de Forex, de Jeux en Ligne, de Transport, d’Etablissement de Monnaie Electronique, d’Etablissement de paiement ou encore de crypto monnaies. Contactez-nous pour plus de détails.

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