Benefits of offshore company and steps for company formation

Basic meaning of the term offshore is “far from shore”. But in terms of business world, it means quite different. An offshore company refers to management, direction and operation of a company in foreign jurisdiction. Such a company runs outside the residence country of beneficial owner of company. The basic purpose of owing a company in outside country is to take benefits from financial and legal system of a foreign jurisdiction. Such a jurisdiction is called tax-haven since they charge zero or low level taxes. 

Offshore company works similar to other incorporate entities. Their services and working methods are also same. The only factor that differentiates offshore company from other incorporate entities is a set of benefits from offshore companies. Some of its benefits and services are : 

Tax-haven : Offshore companies are opened in a tax haven jurisdiction. Such a jurisdiction charges zero level or low taxes on the income earned by these companies.

confidentiality : Offshore jurisdiction never disclose any information about beneficial owner , shareholder or director of the such a company. All operations of company are carried out by anonymous name. Beneficial owner may be provided with nominee director to ensure more security.

Asset-protection : It protects all assets of company owner including -- cash, securities, real estate and others. This enables the owner to retain control over their assets while retaining their privacy.

No annual reporting : Company need not to go for annual auditing or reporting of its accounts like other onshore incorporate entities.

Low operating costs : With limited reporting requirements, offshore companies generally have lower maintenance and operating fees. The cost of compliance, preparation of accounts and auditing in on-shore countries is often considerable while offshore companies save on these particular expenses.

Offshore - company formation :

The first thing to get your company formed is to select an offshore jurisdiction. This decision may be complex. Every offshore jurisdiction has its own set of laws and benefits. Few factors that are to be considered while selecting appropriate jurisdiction. Incorporation costs and other business fees play such an important role in the selection process.  Generally, a legal system with lower incorporation fees is selected.  Another important factor is popularity of jurisdiction. The most popular jurisdictions are often the ones that have the best combination of all criteria.  Processing times, including time to complete the company formation process and issue various corporate documents, are another important factor. A jurisdiction that facilitates healthy offshore banking services is also considered while selection process. After selecting right jurisdiction, next step is to order your company. For this, you have to  fill an order form and send it to the jurisdiction. After providing all required documents and information, a verification process takes place to ensure authenticity of owner. After receiving payment and verifying all documents, actually formation process takes place which is completed within time specified in order form. Along with company formation, offshore banking services are also provided to the owner in same jurisdiction. Once formation process is completed, owner can run their business from residence country through agents and nominee directors.

Act-offshore is the world's leading company known for offshore company and an other kind of offshore services. It facilitates online services and online banking for company formation and guarantee full customer supports to offshore company owners.

Offshore Bank Account – Benefits and opening procedure

Offshore banking is one that takes place in a country outside the residence country of offshore account holder. It is believed that opening a bank account in foreign country is unlawful. Criminals tries to save their black money and other financial assets in offshore bank account to avoid taxes or legal issues. It is true in some cases, but not for all offshore accounts. There are many other reasons why people get their saving accounts open in foreign countries. Initially, offshore banking was a term for mega-rich people. But today, every moderately rich wants to secure his property with offshore banks.

Benefits of offshore banking :

Confidentiality is the first priority for offshore banks. It provides full security and privacy to client's information.
Offshore banks accounts are mostly opened in offshore jurisdiction . Such tax-haven jurisdictions pay interests without charging any tax. For the persons with criminal intentions, this is an advantage.
Some offshore banks offer additional and more reliable banking services than a domestic bank such as anonymous bank accounts and  multi currency bank accounts
Offshore banking is an asset saving tool for clients who own some International Business Company.  offshore bank account is provided to owner of every offshore company.  All offshore bank provide popular credit and debit cards - making it easy to readily access your funds, no matter where in the world you are.
Offshore banking procedure  is different from domestic banking. The client needs not to physically present for opening an offshore account in any country. All the work is done online with communication between client and agents.
First,  clients choose the most suitable jurisdiction for his banking  requirements. What is the best offshore jurisdiction? This question does not has an particular answer. Choosing a financial center depends on many factors like economical and financial stability of jurisdiction, distance from residence country and ease of communication. Decision factors vary from client to client according to their financial needs.
After selecting the jurisdiction, next step is to choose an experienced and expert offshore provider. Offshore banks providers  have partners with offshore banks who assists clients in opening their bank account.
Next , think about type of bank account you need. Offshore banks offer different types of banks to accommodate varying needs of clients :
International bank account – It facilitates account holders a 24 hour access from anywhere in the world through cash cards, internet or even cell phone.
Multi currency account – This  is a single account  where an account holder can save money in any form of currency. Further, he can do transactions using any currency. These accounts are specifically designed for those who need transactions across many countries.
Offshore business bank account – People owning offshore business are provided with offshore bank account in combination with offshore incorporation. This account is used for protection of client's assets and for money transactions.
After choosing the account type, finally get your bank account opened. Depending on the selected jurisdiction, the provider and account type, client will be required to submit some documents for verification and deposit funds. Now client is ready to start with his banking services.

With incorporating offshore business for a client, Act offshore assist them in opening their offshore bank account with offshore company formation as well.Offshore banking is beneficial for the purpose of handling huge assets as well large amount of finance for wealthy people.

BVI Company: most beneficial international Business Company

IBC is acronym for international business company. IBC refers to a company running in some tax haven country outside the residence country of company's owner. Such jurisdiction has taxation system of either zero or low level. Thus , owning a company in such a country is always beneficial for  investors. IBC is also known as offshore company. An IBC can run any kind of business whether a corporation or limited company. The working and services of IBC is similar to any other onshore business. The only difference is that offshore IBC is originated to gain from financial and legal system of tax haven jurisdictions.

International business company can not engage his business in the country in the jurisdiction n which his company has incorporated. Forming an IBC company is also an easy task like going to local banks , making contacts with online offshore service providers, providing required documentary and get an offshore bank account opened for funds handling. Agents of offshore company providers totally supports clients in all these tasks. There are many offshore jurisdictions that allows IBC formation facilities to foreign investors. Every jurisdiction has its own set of laws and requirements for formation, direction and management of IBC. But benefits from all of them are same.

One of the world's leading and most popular IBC incorporation center  is British Virgin Island.
More than one million BVI companies have been incorporated with various businesses. There are few factors that makes the BVI an inviting incorporation center :

* Easy business incorporation- Incorporation of a BVI company is easily and accomplished within 3-5  days. Additionally, formation of international business company is more affordable as compared to other offshore jurisdictions. Incorporation in the BVI allows maximum flexibility in relation to the type of company that may be formed. A BVI incorporation may be a company limited by shares or by guarantee, an unlimited company
Flexibility

* It provides flexible international business services. BVI companies can engage in any legal business activity outside the BVI. An individual can role as a shareholder as well as director of the company Or  may have sole director and sole shareholder. If there is any need of meeting then is my held anywhere in the world wither by telephone or some electronic media.

* No annual reporting-A BVI business company does not require to file annual reports like financial statements, accounts or records.

* Jurisdiction transformation-A company  incorporated under some other another jurisdiction can be transferred to BVI Business company as per the laws of that jurisdiction. Similarly, a BVI offshore company may also change its domicile from BVI to some other jurisdiction.

* Privacy- BVI companies provides more privacy and confidentiality to BVI company owners. There is no public record of the identity of shareholders or directors. Only the memorandum or name of company and services of the company are made public.
Asset Protection

BVI companies are able to ensure maximum asset protection to all kind of assets like real estate property, shares, bonds  by transferring company's assets to some trust, foundation or sharing them with another company.

Actoffshore is the most popular offshore international business company provider that facilitates formation of BVI company in BVI offshore center. BVI is an oldest financial center enriched with benefits for investors that let them gain heavy revenues.

BVI Company – Tax neutrality offshore business formation

Offshore jurisdiction is a tax- haven center that offers investors to incorporate businesses in a country outside their residence country. Such an offshore jurisdiction has many beneficial means for business owners and one of them is relief from tax issues. BVI is one of the most popular and sought after offshore jurisdiction. The main factor behind its popularity  as offshore jurisdiction is lower tax liabilities as compared to other offshore jurisdiction. Till the time, more than 6000 companies have been incorporated under BVI. It has a stable financial and legal system. As an offshore jurisdiction, BVI is that famous that other offshore jurisdiction strive to follow its laws. BVI works according to common English language laws and company Act.

A BVI company can be engaged in any kind of international business and can trade with any country worldwide. It has same power like other onshore business entities. The only restriction is that it can neither engage in any kind of business nor it can own real estate property  in BVI country.  BVI offers shelf company or close corporation(cc). A shelf company is already registered with BVI jurisdiction but  never conducted any business until any client buy it. It is free from liabilities and duties incorporated for the purpose of being sold. A client can own a shelf company in place of incorporating a new company.

BVI also offers virtual office facility for BVI companies to provide ground to the business in BVI country. This facility includes full address for business correspondence, telephone and fax numbers, mail and fax forwarding service and customer - support service. All mail or fax correspondence addressed of the Company will be addressed  to client. Apart from the fixed annual service fee, handling costs and charges are applicable, depending in the method of forwarding chosen and the volume of correspondence. The address and fax numbers provided to a client company under this service will usually be shared between several client companies. Forwarding service will only be provided for correspondence that can be clearly identified as addressed to the Company.

Another offerings of BVI company includes :
Asset protection
Tax- neutrality
Client's confidentiality and privacy
Low incorporation fee
Low operating fee
No annual reporting
Provides offshore bank account

Opening an offshore company with BVI is fairly simple. Client selects the type of business and name for his company. The British Virgin Islands allows company name with the word International, Group, Holding, Industrial, Investment, colleges, associations, centers, Institute, limited etc. Along with this, client has to provide required documents and incorporation fee. The standard capital requirements for BVI company  is 50,000 USD. The company must have at least one shareholder and director. Same person can work as shareholder and director. In short, a person needs to submit required documents and provide nominee, shareholder and director for his company. He need not to visit BVI country and all the work is handled by agents hired by him.

After company formation, owner can operate his offshore business from anywhere. Setting up an offshore company in BVI jurisdiction is now easy with Act offshore company provider. BVI company offers full confidentiality and privacy to client's business. Further, it provides asset protection and tax relaxation to client.

Importance of Private banker and their expertise in Private banking

Private banking is personalized form of banking offered specially to high net worth individuals. High net worth individuals(HNWI) are the people owning a huge amount of wealth including financial amount as well as liquid assets. Their property is not maintainable by public or retail banks. So, for an appropriate wealth management , they go for private banks. This form of banking is attractive not only for HNWI , but also by moderately rich persons. Private banking is a term which refers to financial institutional banks which offer financial services to HNWI privately. It also refers to bank confidentiality and reliving clients from taxes liabilities.

Employees working in private banks are the most important part of banks. With Private banks, account holders develop a strong professional relationship with their Private Banker. These Private Bankers possess experience and expertise in diverse banking services like  retail banking, mortgage offerings and international transactions etc. Private banker first understands the need amount of wealth of his client. Then he derives the most suitable plan for his client's wealth management that caters all his needs. Private banker will arrange timely, confidential and convenient access to a full range of personal and commercial financial services to help client achieve short-term as well as long-term profits.

While managing your wealth with private banks,  following tips are very helpful :
Look for the best private bank :
There are many private banks in the world who offers banking services. Services of every bank varies from bank to bank. Choosing the most suitable services is little tricky. Research on internet about the bank that best accommodate client's financial needs.
Ensuring the quality of private banker :
Before Opening a private bank account, ensure that its employees are qualified and experienced. The banker must have expertise for the various banking issues like wealth management and banking. Qualification demanded by post of private banker includes Certified Financial Planner, Certified Public Accountant and Chartered Financial Analyst. The right private bank train their employees about latest banking techniques and encourage them to work in the way to grow client's best opportunities.

Consider the size of the bank
Large private banks are more equipped as compared to small private banks. Large banks provide additional services over public banks as well as other small level banks . Their additional services includes secure e-banking systems, investment seminars , multi-currency account handling, international transaction, cash cards and share management.

One benefit that private bankers can provide  is the ability to transfer funds from one account to another on the telephone, without physically appearing  into the bank and sign anything. If client faces some tax issues , they can contact their bankers that will be able to help out their problem and derive some effective tax strategy for client. A private banker knows that his clients are HNWI people. So they look out for benefits of other clients also and suggest effective approaches to their clients to invest their assets and finance. Some of the world's top private banks include Swiss bank, Hong kong bank for private banking.

 Act offshore works with world's most prestigious banks including Swiss banks, Luxembourg bank, Hong Kong private banking and Cyprus private bank. These banks understand the needs of clients and provide services like company formation and much more in the most effective way.

BVI Company – Tax neutrality offshore business formation

Offshore jurisdiction is a tax- haven center that offers investors to incorporate businesses in a country outside their residence country. Such an offshore jurisdiction has many beneficial means for business owners and one of them is relief from tax issues. BVI is one of the most popular and sought after offshore jurisdiction. The main factor behind its popularity  as offshore jurisdiction is lower tax liabilities as compared to other offshore jurisdiction. Till the time, more than 6000 companies have been incorporated under BVI. It has a stable financial and legal system. As an offshore jurisdiction, BVI is that famous that other offshore jurisdiction strive to follow its laws. BVI works according to common English language laws and company Act.

A BVI company can be engaged in any kind of international business and can trade with any country worldwide. It has same power like other onshore business entities. The only restriction is that it can neither engage in any kind of business nor it can own real estate property  in BVI country.  BVI offers shelf company or close corporation(cc). A shelf company is already registered with BVI jurisdiction but  never conducted any business until any client buy it. It is free from liabilities and duties incorporated for the purpose of being sold. A client can own a shelf company in place of incorporating a new company.

BVI also offers virtual office facility for BVI companies to provide ground to the business in BVI country. This facility includes full address for business correspondence, telephone and fax numbers, mail and fax forwarding service and customer - support service. All mail or fax correspondence addressed of the Company will be addressed  to client. Apart from the fixed annual service fee, handling costs and charges are applicable, depending in the method of forwarding chosen and the volume of correspondence. The address and fax numbers provided to a client company under this service will usually be shared between several client companies. Forwarding service will only be provided for correspondence that can be clearly identified as addressed to the Company.

Another offerings of BVI company includes :
Asset protection
Tax- neutrality
Client's confidentiality and privacy
Low incorporation fee
Low operating fee
No annual reporting
Provides offshore bank account

Opening an offshore company with BVI is fairly simple. Client selects the type of business and name for his company. The British Virgin Islands allows company name with the word International, Group, Holding, Industrial, Investment, colleges, associations, centers, Institute, limited etc. Along with this, client has to provide required documents and incorporation fee. The standard capital requirements for BVI company  is 50,000 USD. The company must have at least one shareholder and director. Same person can work as shareholder and director. In short, a person needs to submit required documents and provide nominee, shareholder and director for his company. He need not to visit BVI country and all the work is handled by agents hired by him. After company formation, owner can operate his offshore business from anywhere.

Setting up an offshore company in BVI jurisdiction is now easy with Act offshore company provider. BVI company offers full confidentiality and privacy to client's business. Further, it provides asset protection and tax relaxation to client.

Benefits of opening offshore bank account with private banking

There is two types of banking : public and private banks. Public banks, also called retail banks, provide services to every type of customers and fulfill their banking needs. Whereas, the former is a personalized form of banking that establishes a secure and more confidential relationship between  clients and private banker. Working and services of both a retail bank and private bank are same. The only difference is that private banks provide highly reliable services to high net-worth individuals. Such individuals own liquid assets like precious metals, real estate property and company shares,  over a certain figure. Their wealth is not manageable by retail banks, so they go for private banking.

The relationship between banker and private bank account holder works on one to one basis. Wealthy individuals with private accounts can meet their banker personally and have direct phone contact with him. A bank can own both a retail as well as private banking separately.

Private form of banking in some offshore  jurisdiction plays a great role for benefits of high net-worth investors. The term ‘offshore’ originated from the Channel Islands being offshore from the United Kingdom. While many offshore banks are located on islands, but this is not compulsory. Today, the term is used to represent every bank  located outside of a home country.

 Such offshore banks are located in some foreign jurisdiction that offers banking services at low taxes. Wealthy investors have been using offshore banking service since many years. The banks offering offshore accounts to foreigners are well established and offer online banking options, credit or debit cards and business by fax or phone.

>> Benefits of offshore bank account :

* Asset protection . offshore private banking provides full protection to all assets as well as cash of the offshore account holder. Thus placing your assets in some offshore jurisdiction out of home country is a secure steps towards asset protection.

* Choosing the nominee. Offshore banking allows account holder to choose nominee account holder after  the offshore account holder.

* Simplicity .One of the best aspect of offshore banking is getting an offshore account opened is a straightforward process. Offshore service provider agents helps people open their bank accounts without any need for them to actually visit that offshore company.

* Owner's privacy. Utilizing an offshore bank service to protect a rich amount of assets, bank transactions and/or personal financial investments provides additional privacy and anonymity.
Offshore banking ensures your accounts are kept strictly private. The confidentiality of all operations conducted through the account is protected by legislation.

Offshore bank accounts are considered illegal , used only by criminals. But today, most of the offshore banks have stricter laws than the onshore banks. Depending on a personal account holder's personal circumstances it's possible to reduce tax liability, increase prosperity prospective and increase comfort with the use of an offshore bank account. The most important reason for opening an offshore banking account is to gain from financial and legal system of tax haven jurisdictions. Investors gain heavily from the offshore banks due to their lower taxation policy over traditional banking. Another advantage thing about it is that a person can open more than one bank account in different offshore jurisdictions.

Act-offshore is world's leading offshore company that provides offshore services like private banking,BVI company, offshore bank account and many more in world's best jurisdiction.