Jersey Company – Should You Incorporate in Jersey?

September 23, 2011 By Offshore Company Formations Leave a Comment

Jersey is one of the more expensive places to incorporate an offshore company in, but it could be a perfect fit for you. Incorporators must operate through a Jersey FSC licensed fiduciary agent, which can require a bit of extra money. Nevertheless, in 10 to 14 days, you could have a Jersey company to call your own. There are no shelf companies available for this area, so you will have to create a new company for yourself. Regardless of that though, there are a number of regional characteristics that make Jersey special, and you may find that it fits your needs exactly. Here is a look at what you may be able to expect if you decide to form a company in Jersey.  

Your Jersey company will not have to submit audited accounts, and none of the accounts that you do submit are made public. You can form your company in any language as long as it uses Latin letters. Jersey operates using the Great British Pound, but any currency is accepted in the area. A Jersey offshore company can maintain the rights of a natural person, operating as an independent entity in the jurisdiction.

One of the main reasons why this jurisdiction is so desirable is because Jersey is protected under the United Kingdom. The area is stable and nearby, making offshore business transactions easier than you may have thought possible. You will not have to pay for high taxes with your Jersey company, but you can still get the services you need. There is a requirement to file annual returns in Jersey, but you can change the company domicile at any time. Your company can be moved to another jurisdiction when necessary, depending on what you want to do.

You must have at least one shareholder, director, and company secretary to operate a Jersey company. These people do not have to be local, and the public will not have information about who they are for the most part. The public can have access to information about who the members are, but they cannot access any other information. As a whole, you may find that Jersey is the perfect fit for your offshore needs, no matter what they may be. There are many different services you can look into through Jersey, so feel free to check them out. You could have your new IBC in no time at all.

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Offshore Formations Offer More Than Tax Relief

February 19, 2011 By admin Leave a Comment

Tax relief or tax exemption is the main reason why many businesses are set up in offshore jurisdictions. These jurisdictions have typically been set up to offer tax haven status for offshore formations, and there are so many around the world now that the new business has the ability to choose from a large list of areas each offering its own unique benefits. However, generally speaking there are a handful of benefits that can be enjoyed by your business regardless of where it is set up.

The obvious benefit really is the tax relief that it offers. Some jurisdictions levy absolutely no corporation tax and may offer exemption from estate or inheritance tax, even sales tax. From a personal point of view, the directors of a company should consider looking for those areas that provide exemption from income tax, inheritance tax, and other taxes and levies.

Asset protection is important to many people with their own personal wealth management program. Capital gains taxes and inheritance taxes can take a large chunk out of any such assets but through the establishment of offshore formations in the right jurisdictions it is possible to avoid much of the liability involved in these. Check the different regulations and tax schemes that are in operation within a particular jurisdiction to help you decide which is the best for you and your business.

You can also enjoy complete anonymity in the right jurisdiction. Nominee shareholders and directors can be named on your business registration documents and this means that you personally do not have to appear on the company records anywhere. Tax havens are usually set up in such a way that you do not have to file company records, files, or accounts either so these will not be in the public domain.

Decide what you want from your offshore formations before you start to consider the different jurisdictions where you can set up a new company. Look at the business and personal taxation relief that areas offer and consider the initial setup and ongoing annual fees for your IBC. By comparing all of these factors you can benefit most from your new business.

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Why Set Up An Offshore Corporation In The Seychelles

February 9, 2011 By admin Leave a Comment

Beautiful golden beaches and stunning blue seas are all well and good to the tourist, but these are hardly a good reason to set up an offshore corporation in the jurisdiction. However, 30,000 companies have done exactly that in the Seychelles since 1994 and many more continue to flock to the beautiful golden shores. The Seychelles are a tax haven not only for the company itself but for its directors too, and with guaranteed anonymity from a legitimate and respected tax haven there is a lot to offer the business as well as the sun seeker.

There are hundreds of jurisdictions around the world which are considered offshore; tax free or low tax areas where the establishment of an offshore corporation is not only permitted but encouraged and even aided. Such jurisdictions should offer beneficial taxes as well as anonymity but they should do so while remaining legitimate and therefore avoiding being black-listed as non-cooperative.

The Seychelles offers the offshore corporation tax free status. There is no corporate tax to pay whatsoever which means improved tax status for a company. What’s more, the directors of the company are not subject to any tax on the income or profit that they derive from the company which makes it a popular jurisdiction for combining offshore corporation establishment with personal offshore banking.

The lack of tax requirements also means that the business does not need to file any tax returns or annual accounts. Information about the business is not released to the public and nominee directors and shareholders can also be used. In fact, with legislation that guarantees complete anonymity, it is obvious that the Seychelles is one jurisdiction that aims to offer everything that the offshore corporation requires from a tax haven.

There are few stipulations for offshore corporation in the jurisdiction. As long as the company does not conduct business within the Seychelles and is not a part of the banking, finance, or insurance industries then it can register and there is no limit to the amount of authorised capital that directors and new businesses can register either. With no minimum paid-up capital requirements there are many reasons that you should consider setting up an offshore corporation in the Seychelles.

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