Choosing the offshore jurisdiction
Making the correct decision on the jurisdiction offshore requires good knowledge. Our company specialists are ready to help you in making the right choice on the offshore jurisdiction and to work out a proper financial scheme. Cost-efficiency is the main topic when incorporating offshore entity. We understand that each of our clients may have different goals, so we retain full confidentiality in all matters relating to our customers. Your offshore company will have accounts in the banks. After one year of experience all the offshore company formation costs will be covered. If you are engaged in international trade, the formation of the offshore entity will be the best choice. In this case your assets will be safe in offshore jurisdiction. It is necessary to be cautious when making decision upon proper offshore jurisdiction since it should be the country with excellent communications. The company registered offshore may act as intermediary between your company in Russia and a foreign partner. Our company staff will inform you about merits and benefits as well as possible implications when using registered offshore company.
Classification of offshore jurisdictions
A well-known though unofficial classification of offshore jurisdictions contains three types of such countries.
- Zero tax jurisdictions without annual report requirements. The companies registered in such jurisdictions pay fixed annual fee. One can name BVI and Panama as an example of this type of offshore jurisdictions. There are many other countries that fall into this category of offshore jurisdictions. Almost complete confidentiality and absence of taxes are the powerful arguments for the establishment of companies in these offshore areas. However if you’re going to have financial relationships with reputable foreign companies and banks, it would be a better choice to register the company in a more respectable offshore jurisdiction.
- Large companies being registered in respectable offshore areas enjoy tax benefits, but it is mandatory for them to file financial statements. Company shareholders and directors personal data are held in public register in such countries. The prestige of these offshore zones is a big advantage in some situations. Offshore jurisdictions of this type are Gibraltar, Cyprus, Ireland and others.
- Countries with some tax benefits. Such countries are not considered standard offshore zones, but with proper organization of financial schemes it is possible to minimize certain types of taxes. Reporting is necessary; on the other hand your business partners will be confident in your company registered in such a country. United Kingdom, Malta and other countries can be placed in this category.