An offshore company, such as a legal offshore company in Panama, is a legal and authorized legal structure that acts and operates financially like a standard onshore company, but operates fiscally with the freedom to have no legal accounting or to maintain simple accounting and be managed by hidden beneficiaries through an authorized nominee board of directors. A legal offshore company, or offshore company, is technically a foreign company incorporated in a foreign country in accordance with its laws and operating outside the country in which it is incorporated with full legal validity. An offshore company is therefore a company incorporated in a place other than where it operates commercially or where its investors live . The primary objective of an offshore company is to allow businesses to conduct business with complete tax avoidance and without any accounting, managing bank accounts discreetly and carrying out transactions through bank accounts and investments through offshore banks with complete financial secrecy, protecting the privacy and identity of the company's true beneficiaries. It's perfectly legal for a citizen of any country in the world to open and operate an offshore company, as long as they operate legal businesses and are declared in the beneficiary's country of tax residence. Offshore companies such as the Panamanian and Belizean Societies enjoy numerous advantages, which can be summarized as follows:
- Corporate Secrecy , also known as Corporate Veil, like the famous Panama Corporate Veil, is the non-disclosure of corporate data by the tax haven state where the joint-stock company is founded. Documents are often segregated and cannot be disclosed or shared with third parties. In some countries, there isn't even a register of them.
- Zero Taxation , meaning non-compliance with even the minimum tax requirements on earnings. These offshore companies operate under a preferential tax regime and pay no taxes. They are often used to avoid paying forex taxes.
- Take advantage of Bank Secrecy , that is, the possibility of easily opening offshore bank accounts anywhere in the world, such as an offshore bank account in Belize, or an offshore account in a bank in Panama, as they are welcome and guarantee data protection with an ironclad bank secrecy capable of offering superior banking services.
- Offer total asset protection .
- Optimizing production costs. FAQ
Among the best known public registers we have:
- Panama Public Registry: https://www.rp.gob.pa
- Belize Company and Corporate Affairs Registry: https://belizecompaniesregistry.gov.bz
- UK Company House: https://www.gov.uk/government/organisations/companies-house
- Delaware Division of Corporations: https://corp.delaware.gov
- Wyoming Secretary of State: https://sos.wyo.gov/default.aspx
Among the most used databases in the world:
- OpenCorporates: https://opencorporates.com
- Sayari: https://sayari.com
- PrivCo : https://www.privco.com
A caveat all offshore companies must heed when dealing with international trading companies is that the tax-free safe harbor they provide only exists if the money generated by these activities remains in these companies and international trading territories. After distributing the assets or income generated by these activities, such proceeds are subject to taxation in the legal jurisdiction where the recipient of the proceeds is tax resident.
We establish companies anywhere, with a widespread presence worldwide. The appropriate offshore jurisdiction must be determined based on the client's specific expectations. We establish companies in Panama, Belize, the USA, the UK, Singapore, Venezuela, the Cayman Islands, Switzerland, Dubai, Nevis, Dominica, Puerto Rico, the Bahamas, St. Vincent, Aruba, Scotland, Ireland, the UAE, the Seychelles, Hong Kong, and Samoa. In practice, 80% of clients request a 100% anonymous structure, with bearer shares and nominees, founded in turn by another company in another jurisdiction. This corporate form is the most common and sought-after for obvious reasons of anonymity protection. We choose jurisdictions that are simple in incorporation procedures and never collaborate with any foreign tax authorities. The first choice of all clients and lawyers is obviously Panama, where companies are formed in 10 days and are completely anonymous.
The required documents are a notarized copy of your passport and a second identity card, a notarized copy of a utility bill in your name and surname, and a bank reference and accountant reference for some specific jurisdictions.
Luckily for Panama we only ask for an uncertified PDF photo of your passport.
The director is the person who manages the offshore company on behalf of the true owner. This person is responsible for signing contracts, acting as an intermediary, liaising with the tax authorities, and signing documents with clients or corporate contracts. They are appointed by the shareholder or by resolution of the board of directors. An offshore company may have several directors or even just one. The shareholder is the true owner of the offshore company and the true hidden beneficiary.
A shelf company is an offshore company already incorporated by a Resident Agent or Registered Agent, who formally holds ownership. Ownership can be transferred from the agent to a third party who will then use it to launch their own commercial business under their name. Shelf companies command significantly higher prices than newly established offshore companies.
Foundations are structures to which legal ownership of assets (money, shares, donations, land or encumbrances, cryptocurrencies, digital assets, patents, etc.) is transferred.
They are hybrid in nature, containing vital characteristics of both a company (legal personality) and a trust (created for a specific purpose or benefit). As such, foundations are particularly useful as wealth management and tax planning tools, but in reality they are multipurpose. They can be used for multiple purposes and are the essential tool for protecting your offshore company, its shares, and the associated accounts from any legal, financial, or other attack (divorce, seizure, etc.). The typical solution chosen by 100% of our clients is:
- Offshore companies, with nominees in the board of directors whose shares are in the name of a Private Interest Foundation whose beneficiary is our client (you), who before or after this type of assets further protects himself by taking up a second and anonymous residence in Panama or Paraguay.
Founder:
Identified as the person who establishes the foundation, or on whose behalf it is established, or by whom a disposition (transfer) of ownership is made. Generally, an offshore foundation can be established by one or more founders.
Board of Trustees:
Identified as the individuals who carry out the foundation's purpose according to the instructions in the Charter; thus, the Board distributes the foundation's assets, manages its assets, signs contracts, executes transactions, and invests on behalf of the foundation. Board members have a fiduciary duty to the foundation.
Foundation Charter
Identified as the document in which the foundation's governance rules are set out.
Beneficiary or Purpose
Identified as the person or class of persons for whose benefit the foundation is created. “Purpose” refers to any cause/purpose for which the foundation is established (e.g., charity).
Guardian or Protector
Guardians and protectors are generally optional, serving as a protective mechanism to ensure that the board's actions and decisions conform to the foundation's terms and objectives.
The best offshore company to open is the one you can best manage yourself and from home, and through which you will obtain the best tax and privacy benefits. There is no perfect company, but there is the perfect company that best suits your specific needs. Contact us to rely on our experience and expertise, and we will address the delicate issues related to your case together.
