For many years, the concept of foreign incorporation was associated with hiding information. Usually this alluded to nefarious purposes. However, the truth is that obscuring certain assets from the public record is often a very smart and necessary part of today’s business climate. In the age of information, preventing all who desire to check up on your business dealings is often a wise necessity. Sometimes it can even affect the personal security of the owner of the company and his family.
There can be a lot at stake.
While it varies between different offshore locations, the majority of offshore centers are aware of how important this ability to shield asset ownership from the public record. These centers are well aware of the importance of this discretion.
There are currently jurisdictions that do require the names of all of the company director and shareholders. The use of nominee services, also provided by Financial Guardian, allow those interested to hire proxies to represent the company board members.
When the full disclosure of beneficial owners of the company is required, say, in order to sell or obtain controlling interests in an onshore corporation, there are still solutions. These include the creation of trusts and foundations. Experts can be consulted to guide anyone in this situation.
Offshore corporations are able to open bank accounts in the name of these corporations. That means that the account will not list an individual’s name, but rather the name of their business. This provides another layer of anonymity when necessary.