Offshore company are no resident company, with no business operations within the jurisdiction of their incorporation.

Specifically, offshore companies have three characteristics: First, you need to be registered as an entity within the jurisdiction of incorporation. Secondly, the founders should have a residence outside the country of establishment. Finally, the company should perform most of their transactions outside the jurisdiction of incorporation. However, most of the people associated with the term "offshore company" for a means to increase tax efficiency.

The most important factor in choosing a jurisdiction is to be sure that your company will be incorporated in a country that has:

• reliable means of communication
• political and economic stability
• good reputation
• sophisticated corporate laws

All the jurisdictions that Accenica works with,enjoy the above mentioned advantages. However, the right choice of jurisdiction also depends on where you live and on the business you conduct. Accenica’s advisors can assist you in finding the jurisdiction that makes the most sense with regard to your personal situation.

 No, generally not. This is one of the main advantages of "offshore" companies. However, in a few select jurisdictions, such as Hong Kong, Cyprus, Gibraltar and the UK, for example, it is indeed mandatory for companies to produce yearly accounts and to have them audited, and in some cases, to pay taxes.

 Every jurisdiction has its own incorporation timeframe. Once the company has been incorporated, it will generally take about 2-14 days for the corporate documents to reach you.

Yes. It is even recommended to do. On the application form you are asked to input two company names, in order of your preference. We will then check with the Company Registry of the offshore jurisdiction if those names are available for incorporation. If not, we shall send you some alternative names. We also have a list of shelf companies or pre-approved names that we can send to you upon request.

Off the shelf companies are corporate entities that have been established by a provider, who holds the company until a purchaser is found. After the transaction, the ownership of the company transfers from the provider to the third party, who then commences trading activity under the company name. The benefits of purchasing an off the shelf company include:

• Reduction in time it would take to create a new corporation
• Permission to bid for contracts (some jurisdictions require a business to have been established for a specific period of time before allowing them to bid for contracts)
• Appearance of corporate longevity

Note: shelf companies are usually more expensive than newly incorporated companies because of their age.

 The shareholder is the person who owns the company through a share certificate. A company can be owned by one or several shareholders. The shareholder can be an individual or a company.

The director is the person responsible for the management of the company. He will sign any business contracts, account opening forms etc. Directors are usually elected by the shareholders, but sometimes are appointed by resolution. A company can have one or several directors. The director can be an individual or a company.

 You will be asked to settle the yearly fees prior to each anniversary of your company, not at the end of each calendar year. To avoid any last minute rush, we will send you a renewal invitation two months before the anniversary.

 No. Most of the jurisdictions we work with do not impose taxes on profits made or interest earned by the company. Some, like Hong Kong or Delaware, only tax profits made within the jurisdiction, whereas Cyprus charges a 10% flat tax.

 An offshore company may be of interest to a great number of people and it may be used for various activities:

• Businessmen:
  Creating an offshore company allows you to begin an activity without having to deal with the set-up of a complicated infrastructure. An offshore company allows you to benefit from fiscal advantages and ease of administration.
• Commerce over the Internet (E-Commerce):
  Internet traders can use an offshore company to maintain a domain name and to manage internet sites. An offshore company might be ideal for people whose business is on the internet. You might choose to incorporate the registered office of your company in an offshore jurisdiction to take advantage of the various benefits offered by these jurisdictions.
• Consultants / Counselors:
  You can also carry on your consultancy or counseling business through an offshore company. You will find it easier to manage your company and will have reduced or even zero taxation depending on the jurisdiction in question.
• International business:
  International commerce can be carried out through an offshore company. It will handle purchases and sales operations, taking advantage of the fact that its profit will not be taxed, or only at a low level, depending on the jurisdiction. This type of use is particularly interesting where goods from one country are sold in another country while you yourself are based in a third country.
• Holding intellectual property rights:
  Any kind of intellectual property right (a patent or trade mark) may be registered in the name of an offshore company. The company may also buy or sell this type of rights. It may also grant rights of use to third parties against payments which will be considered as revenues and will thus benefit from the low level or zero taxation of the jurisdiction in which it is registered.
• For the custody of movable and immovable property:
  Offshore companies are used to hold both movable property (such as yachts) and immovable property (e.g. houses and buildings). In addition to confidentiality, the benefits and advantages they offer include exemption from certain types of taxes (e.g. inheritance tax). Some countries, however, do not allow the acquisition of movable/immovable property through offshore structures and therefore those wishing to form an offshore structure are advised to check with a competent authority before proceeding.
• For inheritance purposes:
  An offshore firm that always stays afloat (provided all costs associated with running it are paid) may, in some countries, be used as a means of avoiding inheritance tax laws. With a view to optimizing inheritance tax liability, the offshore structure may also be combined with a trust or a foundation.
• Stockbroker/forex
  Offshore companies are very often used for share or foreign exchange transactions. The main reasons being the anonymous nature of the transaction (the account can be opened under a company name) and the attractive fiscal conditions of offshore regulations (little or no tax levied on profits made).

 No. If you tick the bank account opening option, we shall - in close collaboration with yourself - choose the bank which most suits your needs from amongst our network of prime banks. The bank will then decide if the account can be opened, depending on how comfortable they are with the nature of your business and the personal information provided by you. However, in more than 95% of the cases, we are able to open the account for our clients.

Like for any other bank account, the funds of your offshore company bank account will be accessible through credit/debit cards, cheques, internet banking or withdrawal at the bank.

The nominee shareholder is appointed in order to shield the real owner of the company from being publicly associated with the ownership of that company. Upon appointment of nominee shareholder, a nominee service agreement (declaration of trust) will be signed between the client and the nominee. Nominee Shareholders provided by Accenica work with the highest level of integrity and confidentiality.

The nominee director service is used to ensure the highest degree of privacy and confidentiality, as the name of the director will appear in the corporate documents, in any business contract and eventually in the jurisdiction's business register. Another advantage of using a nominee service is to place the "management and control" issue firmly outside a high tax jurisdiction.

Upon appointment of a nominee director, a Nominee Service Agreement will be signed between the client and the nominee. It will guarantee the client that the nominee can only act or sign documents upon the client's request and with the client's prior approval. Professional directors provided by Accenica work with the highest level of integrity and confidentiality.

 A notarization means that a notary will check all the documents we issue for your company and that he will confirm their authenticity.

An apostille is an internationally recognized certification and legalization of the corporate documents by the Government of the jurisdiction where your company has been incorporated.

We highly recommend choosing this option if you consider opening a bank account or if you need your corporate documents for any legal proceedings (such as concluding a contract, for example).