FAQ – Offshore Company

Do you provide all the documentation for a new company?

Certainly! When we incorporate a new offshore company, we will give our client a full set of documents, including all the company documents. In addition, we can organize additional documents as per request.

 

Can one make changes to the name of the company, appointing directors or changing shareholders? Is there a charge for that?

Definitely! One can make any legal changes. Any change will require a signature on various documents and approvals. There is a charge for any changes made.

 

When will my company be active until?

A company (onshore or offshore) is active as long as it is being renewed. Renewal of a company includes the fee for the local registrar of companies, a local address as well as the appointment of a local secretary. If you do not renew the company on time, the company will be fined by the local registrar and will eventually be dissolved.

What documents will I receive that will prove my ownership of the offshore company?

This depends on the configuration of the company. If you are the shareholder of the company, then you will receive a share certificate under your name which will prove your ownership. If, however, you use a nominee shareholder, then you will receive a document that will include the following: a declaration of trust, a deed transfer, a nominee services agreement and the beneficial owner’s declaration, which will prove that you are the ultimate beneficial owner of the company.

What are Shelf Companies?

Shelf companies are companies that have already been incorporated but are not currently in use, and thus are said to be “on the shelf.” The main advantage of purchasing a shelf company is that they are available immediately. In some cases a client is requested to have a track record, this way a client may purchase a shelf company that was incorporated a number of years ago, thus providing a track record. The older a shelf company is, the more expensive it will be since one will have to pay for the years of government fees, agent fees as well as other costs for the maintenance of the company over the years.