• Offshore Corporations

    Offshore corporations

OFFSHORE CORPORATIONS

The term offshore corporations normally involve images of shell companies in remote islands which is an incorrect description. Offshore Corporations are an essential business requirement to expand to new jurisdictions or where there is a need to open a local company to operate a business in a country. Additionally, offshore corporations may provide significant tax benefits or maybe a part of a regulatory requirement to operate in certain sensitive sectors.

Costs involved and time required for forming an offshore corporation

Costs involved and time required for forming an offshore corporation

The costs for providing opening and operating an offshore corporation depend on the size of the company, the jurisdiction where the business is sought to be opened, and the services required.

Empire Global has years of experience in opening and providing offshore corporation consultancy and services to businesses. We request you to get in touch with Empire Global at the earliest to understand if you can benefit from our services.

What is an Offshore Corporation?

An offshore corporation refers to any company established in a country where the owners of the company do not live.They can be fully owned subsidiaries of a company or may even be a freshly incorporated company by the natural persons who are the owners of the company. Many offshore corporations are also joint ventures which have been formed with a local partner to fulfill business needs.

Why is an offshore corporation required?

Offshore corporations may be required for a variety of reasons which include:

  • The need to open a local company to operate a business in certain countries
  • To comply with regulatory requirements which allow only local companies to operate in certain business areas
  • For licensing in certain sensitive industries such as casinos and online gambling which require that the applicant is a local corporation
  • To comply with data safety requirements
  • To apply for local bank accounts in countries where a business operates
  • Only local companies may register for tax payments in certain countries
  • Local companies are exclusively permitted to offer services to the government
  • Mining and high-risk industries require incorporation of local companies
  • Offshore corporations may provide tax benefits

How and where can I open an offshore corporation?

Opening an offshore corporation normally requires contacting a specialized service provider such as Empire Global which has expertise in the exact documentation requirements and application process for opening a corporation in a particular country. Many countries also have requirements to appoint a local director which can be fulfilled by the service provider.
It is also crucial to know that many countries have different companies and it is essential to know which legal form should be taken to derive the maximum benefits. Opening a corporation also comes with tax and reporting requirements which will be informed to you by your service provider.
Offshore corporations can be opened across the globe as guided by your business needs and Empire Global has local experts in most prominent economies where you may require a corporation.

Specify your preferences and generate available licensing solutions

Professional clients looking to obtain an investment license in a specific country can choose from the following:

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