Transfer Your Company in Offshore
Updated on Saturday 27th October 2018
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When you transfer your company in offshore there are a few key issues to consider, such as the local incorporation procedure, the need to disclose information about the beneficial owners and the financial reporting procedures. Our team of offshore company formation agents can help you transition the business location as smoothly and as swiftly as possible.
Where can I transfer the company in offshore?
Some of the most popular destinations for offshore incorporation include Belize, the Cayman Islands, Seychelles or Panama. In Europe, investors have the option to open a company in the Isle of Man and enjoy the unique taxation regime. Those who do not wish to move their company to a traditional tax have, can opt for a jurisdiction that simply offers a low-tax regime, such as Cyprus or Hong Kong.
Naturally, the offshore company setup will depend on the chosen jurisdiction and investors who transfer the company in offshore will need to have a clear understanding of the local laws.
How can I transfer the company assets?
The offshore bank account setup is fairly straightforward in offshore centers, however, the conditions will differ from one bank to the other. Some banks will allow clients to open an account by transferring the needed documents via e-mail, however, it is always advisable to reach out to a local company formation agent to find out what the banking requirements are in a chosen jurisdiction.
When transferring the company, you will also have the option to maintain a bank account in the country of residence. This way, you may be able to handle the asset transfer process easier.
What will change in terms of reporting?
Another important reason why investors choose to relocate a company in offshore is that the accounting and annual reporting requirements are fewer in locations like Belize or Seychelles.
These are just some questions that will appear naturally once the decision to transfer the business has been agreed upon. For more detailed information about offshore company formation in any of the jurisdictions mentioned above, please do not hesitate to contact us.
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