Incorporation of Companies in Offshore-Jurisdictions

Sometimes it may be advantageous or desirable for our clients to incorporate an offshore company in another country, be it as stand-alone company or as parent company of a Cyprus company, or vice versa. Offshore companies are often used as shareholders for Cyprus companies.

Relying on our experience and wide network we incorporate your companies in the jurisdictions below, with the same diligence and professionalism as in Cyprus.

In below sections we provide to you information about the advantages and regulations of cffshore companies in the Seychelles, the British Virgin Islands, the Cayman Islands, in Belize, in the Bahamas and in other jurisdictions.

We will be pleased to advice you which solution will be fitting your needs.

 

 

Our recommendation if you wish an offshore company!

There are two different forms of companies suitable for foreigners on the Seychelles:

• International Business Companies (IBC)
• Company Special Licenses (CSL)

Please read the information for IBCs below.
Specialities of CLSs, compared to IBCs:

• CSLs do benefit from the Seychelles' Double Taxation Avoidance Treaties (see Download Center),
• CSLs do comply with the Standards for Information Exchange of the OECD, Information about the ultimate beneficiary, directors etc. will be provided upon official application (but are not open to the public),
• corporate tax for CSLs ıs only 1,5 %,
• CSLs must have two directors (natural persons) who have to reside otside of the Seychelles,
• CSLs have to appoint a secretary of company living in the Seychelles,
• CSLs must submit accounting and auditing records (wich are, however, not open to the public).

Information about International Business Companies (IBC)

The Seychelles comprise of 115 islands, distributed over an area of 400.000 km2 north of Madagascar. The capital is Victoria on the island of Mahé, its population is about 87.500. The originally uninhabited islands have been discovered, as known so far, by the Portugueses and ceded to France 150 years later. Later, the islands have been ceded to the United Kingdom, in context of the conflicts between the UK and France. The Seychelles are independent since 1976.

General Information

Legal System:
The legal system of the Seychelles bases on the British Common Law as well as on the French Civil Law.

Economy
Tourism and fishery are the main branches of the Seychelles' economy. Since a few years the Seychelles emphasise to become an international finance center.

Currency
SCR (Seychelles Rupee)

Language
English, French and Creole are official languages, whereas English is most common.

Time Zone
GMT + 4 hours

 

Company Information

Forms of Companies
International Business Company (IBC)

Company Law
International Business Act von 1994.

Minimum Capital Requirement
No minimum capital. Minimum capital to be paid: USD 1,00.
Generally, companies are incorporated with an authorised capital of USD 5.000,00.

Restrictions
IBC are not permitted to conduct business in the banking sector, as assurances, and not as fund or asset management company. IBC are not allowed to conduct business in the Seychelles. They are not allowed to hold property within the country and may not offer their shares to the public.

Taxation
None

Double Taxation Avoidance Treaties
IBCs can not benefit from the Seychelles' Double Taxation Avoidance Treaties

Annual Tax Returns
No

Annual Financial Reports
Have to be generated but do not need to be audited and submitted.

Annual Licence Fee
For an authorised capital of-
up to USD 5.000,00: USD 100,00;
between USD 5.001,00 and USD 50.000: USD 300,00;
from USD 50.001,00: USD 1.000.

Registered Address and Incorporation Agent
Registered address of the company has to be in the Seychelles.
Incorporation Agent necessary in the Seychelles.

Secretary of Company
Not compulsory.

Directors
At least one. Nationality and place of residence are not of importance. Natural or legal persons.

Shareholders
At least one.

Disclosure of Beneficiary
No

Disclosure of Directors
No

Disclosure of Shareholders
No

Bearer Shares
Yes

Currency Control
Not for IBCs.

Name of Company
Must be in English or French.

Language of Company Documents
English or French

Duration of Incorporation
2 working days

Shelf Companies
Yes

 

 

The British Virgin Islands are located about 100 km east of Puerto Rico and are part of the Lesser Antilles. The The British Virgin Islands are British Overseas Territory. Population: about 25.000. Capital: Tortola.

General Information

Legal System:
Independent legal system based on British Common Law.

Economy
Mainly Tourism. Incorporation and management services for International Business Companies are an important source of income.

Currency
USD (Amarican Dollar)

Language
English is official language.

Time Zones
GMT - 4 hours

 

Company Information

Forms of Companies
BVI International Business Company

Company Law
Company Law der BVI

Minimum Capital Requirement
Minimum paid capital: USD 1,00.
No minimum auhtorised capital; generally authorised capital: USD 50.000,00.

Restrictions
International Business Companies are not allowed to conduct banking and insurance business or offer financial services, if necessary permissions have not been obtained. IBCs may not conduct business on the British Virgin Islands.

Taxation
None

Double Taxation Avoidance Treaties
The BVI maintains a few Double Taxation Avoidance Treaties, for instance with Switzerland and with Japan. Double Taxation Avoidance Treaties are not applied to IBCs.

Annual Tax Returns
No

Annual Tax returns
nO

Annual Licence Fee
USD 350,00 annually for companies with an authorised capital up to USD 50.000,00. Companies with capital exceeding the aforementioned amount pay USD 1.000 annually.

Registered Address and Incorporation Agent
Registered address of the company must be in the British Virgin Islands. Incorporation agent has to be appointed.

Secretary of Company
Not compulsory.

Directors
At least one. No provisions of nationality and place of residence, natural or legal person.

Shareholders
At least one.

Disclosure of Beneficiary
No

Disclosure of Directors
No

Disclosure of Shareholders
No

Bearer Shares
Yes

Currency Control
No

Language of Company Documents
English

Duration of Incorporation
2 -3 working days

Shell Companies
Yes

 

 

The archipelago consisting of three islands is located 350 km south of Cuba and is British Overseas Territory. 90 % of the approximately 45.000 inhabitants live on the main island Grand Cayman. The capital is George Town.

General Information

Legal System:
Customary Law based on British Common Law.

Economy
The Capital George Town is the World's fifth largest financial center. There is nearly no considerable bank of the World not having a substitute or branch there.

Currency
KYD (Cayman Dollar), USD and GBP are widely accepted, but not the Euro.

Language
Official Language is English.

Tine Zone
GMT - 5 hours

 

Company Information

Forms of Companies
Exempt Company.

Company Law
Cayman Islands Companies Law from 1960, based on the english Companies Act from 1948.

Minimum Capital Requirement
Minimum Paid Capital: 1 Voting share of USD 1,00.
Generally authorised capital: 50.000 voting shares of USD 1,00 each.
Share classes: par-value shares and shares without value, bearer shares, participating preference shares, preference shares, shares with and without voting rights.

Restrictions
Companies may not conduct banking and assurance business, fund business or financial services, if no special permission has been obtained. Exempted companies may not conduct business and may not hold property within the country, they may not call for capital contribution in the public.

Taxation
None

Double Taxation Avoidance Treaty
None

Annual Tax Returns
None

Annual Financial Reports
None

Annual Licence Fees
As per the capital of the company:
capital up to USD 50.000,00: USD 575,00;
capital from USD 50.001,00 to 1.000.000,00: USD 805,00;
capital from USD 1.000.001,00 to 2.000.000,00: USD 1.690,00;
capital over USD 2.000.000,00: USD 2.400.

Registered Address and Incorporation Agent
Registered address must be on the Cayman Islands.
Incorporation Agent must be appointed.

Secretary of Company
Not compulsory, but generally appointed.

Directors
At least one. No provisions of nationality and place of residence, natural or legal person.

Shareholders
At least one.

Disclosure of Beneficiary
No

Disclosure of Directors
No

Disclosure of Shareholders
No

Discretion
Extremely strong. As per the Confidential Relationship Law, the disclosure of any discrete information regarding companies incorporated in the Cayman Islands is considered as criminal act.

Bearer Shares
Yes, have to be deposited.

Currency Control
None

Company Name
May be in any language using Latin letters.

Name Restrictions
All names esteemed by the Regşstrar as undesirable, offensive or obscene. Words like bank, assurance or insurance, Trust, Royal, Imperial and words that suggest a patronage of the Government of the Cayman Islands may not be used.

Name Suffixes
No provisions. Generally used suffixes: Limited, Corporation or Incorporated.

Language of Company Documents
Englisch

Duration of Incorporation
2 – 3 working days

Shelf Companies
Yes

 

 

The former British Honduras adjoins Mexico in the north and Guatemala in the west. The former British colony with a population of about 300.000 today gained independency in 1981. Seat of Government is Belmopan upcountry, while Belize City is the economic capital.

General Information

Legal System:
Independent customary law based on British Common Law.

Economy
Mainly agriculture. Financial services are evolving and becoming an important branch.

Currency
BZD (Belize Dollar), linked to the USD.

Language
Official language is English.

Time Zone
GMT - 6 hours

 

Company Information

Forms of Companies
International Business Company

Company Law
International Business Companies Act from 1990 with its amandment from 1995.

Minimum Capital Requirement
Minimum paid capital: 1 voting share of USD 1,00.
Generally authorised capital: 50.000 voting shares of USD 1,00 each.
Share classes: par-value shares and shares without value, bearer shares, participating preference shares, preference shares, shares with and without voting rights.

Restrictions
IBCs may not conduct banking and (re)assurance business, fund business or financial services, if no special permission has been obtained. IBCs may not conduct business and may not hold property within the country.

Taxation
None

Double Taxation Avoidance Treaties
None

Annual Tax Returns
No

Annual Financial Reports
No

Annual Licence Fees
As per the capital of the company:
capital up to USD 50.000,00: USD 100,00;
capital over USD 50.000,00: USD 1.000,00.

Registered Address and Incorporation Agent
Registered Address must be in Belize.
Incorporation Agent to be appointed.

Secretary of Company
Not compulsory, but generally appointed.

Directors
At least one. No provisions of nationality and place of residence, natural or legal person.

Shareholders
At least one.

Disclosure of Beneficiary
No

Disclosure of Directors
No

Disclosure of Shareholders
No

Discretion
Extremely strong. As per the Confidential Relationship Law, the disclosure of any discrete information regarding companies incorporated in the Cayman Islands is considered as criminal act.

Bearer Shares
Yes.

Currency Control
None

Company Name
May be in any language using Latin letters.

Name Restrictions
All names esteemed by the Registrar as undesirable, offensive or obscene. Words like bank, assurance or insurance, Trust, Royal, Imperial and words that suggest a patronage of the Government of Belize may not be used.

Name Suffixes
No provision. generally used suffixes: Limited, Corporation, Incorporated, Societé Anonyme or Sociedad Anonima.

Language of Company Documents
English

Duration of Incorporation
3 - 4 working days

Shelf Companies
Yes

 

 

The Bahamas consist of about 700 islands sout east of Florida/USA and independent member of the Commonwealth since 1973. Population: approx. 310.000. Capital: Nassau. Preferred place of business due to its tax exemption.

Genral Information

Legal System:
Independent legal system (Statutory Law and Customary Law) based on British Common Law.

Economy
Tourism is responsible for about half of the total revenues. Banking sector is an important branch.

Currency
BSD (Bahamas Dollar).

Language
Official language is English.

Time Zones
GMT - 5 hours

 

Company Information

Forms of Companies
International Business Company

Company Law
International Business Companies Act from 2000

Minimum Capital Requirement
No minimum capital.
Generally authorised capital: USD 50.000,00.

Restriktionen
IBCs may not conduct banking and (re)assurance business, fund business or financial services, if no special permission has been obtained. IBCs may not conduct business and may not hold property within the country.

Taxation
None

Double Taxation Avoidance Treaties
None

Annual Tax Returns
No

Annual Financial Reports
No

Annual Licence Fees
As per the capital of the company:
capital up to USD 50.000,00: USD 350,00;
capital over USD 50.000,00: USD 1.000,00.

Registered Address and Incorporation Agent
Registered Address must be in the Bahamas.
Incorporation Agent to be appointed.

Secretary of Company
Not compulsory, but generally appointed.

Directors
At least one. No provisions of nationality and place of residence, natural or legal person.

Shareholders
At least one.

Disclosure of Beneficiary
No

Disclosure of Directors
No

Disclosure of Shareholders
No

Bearer Shares
Not permitted

Currency Control
No

Name of Company
May be in any language using Latin letters.

Namensrestriktionen
ll names esteemed by the Registrar as undesirable, offensive or obscene. Words like bank, assurance or insurance, Trust, Royal, Imperial and words that suggest a patronage of the Government of the Bahamas may not be used.

Name Suffixes
No provisions. Generally used: Limited, Corporation, Incorporation.

Language of Company Documents
English

Duration of Incorporation
2 – 3 working days

Vorratsgesellschaften
Ja

 

 

Upon your requirement we can provide information on a number of further jurisdictions and incorporate your company in such jurisdictions.

Please contact us with your requirements, needs and requests.