Once the preliminary steps have been completed and all relevant decisions have been made, it is time to start registering the company. This process varies greatly by jurisdiction, which is why we can only provide general guidelines here.
First, contact your lawyers and start drafting the necessary documents. Most incorporation documents must be signed in front of a notary public, with signatures notarized (and apostilled if necessary).
Preparation of the incorporation do... moreRegistering a company
Once the preliminary steps have been completed and all relevant decisions have been made, it is time to start registering the company. This process varies greatly by jurisdiction, which is why we can only provide general guidelines here.
First, contact your lawyers and start drafting the necessary documents. Most incorporation documents must be signed in front of a notary public, with signatures notarized (and apostilled if necessary).
Preparation of the incorporation documents of the company
Incorporation is an important and quite complicated process, since all documents must be submitted in strict compliance with all legal requirements. Typically, the documents are provided by professional consultants and lawyers who fully manage all the steps involved in incorporation. In most jurisdictions, the documents must be signed in front of a notary, with each party confirming their intention to incorporate a company and providing a specimen signature.
Most documents must be signed by the shareholders and the directors. As a rule, it is also possible to authorize a third party with the signature. This can be done with a notarized power of attorney, which allows the incorporation process to be completed remotely without having to go to the jurisdiction. These documents include the memorandum of association, articles of incorporation, confirmation of the director's approval of the management of the company, a statement of the company's legal address, proof of equity deposit and a register of shareholders. Additional documents may be required depending on the country.
Our legal team will ensure you get everything you need to start a business, including nominees and a package of documents if required.
If the parent company plans to form a subsidiary, the process is similar and all procedures must be carried out by the parent company officials as the original shareholders. It does not matter who the shareholders are, whether natural or legal persons.
Typically, document creation takes between one and five business days; However, this period varies from case to case and is therefore not certain.
Appointment of director(s) and deposit of equity
While the incorporation documents are being prepared, you must decide who your company's directors will be and whether you will engage nominee services. This is an important decision that must be made before the final documents are prepared as the names of the directors and shareholders must be known and provided. If you intend to use nominee services, you should let your solicitors know before they start preparing the documents, as changing your mind later in the document development will result in all the paperwork having to be redone, which will be additional work for the lawyers and means additional work for you.
Once the directors' names are known, they must be appointed by getting them to sign certain corporate documents, provide their personal information and give their written consent to appointment as directors.
After the directors are formally appointed, they should contribute a minimum amount to the company's equity. Initial equity contributions are to be made prior to filing the documents with the commercial register. In most countries, the bank opens a temporary bank account that is only valid for one specific purpose: depositing equity. Once the company is successfully registered, the account can be converted to an active corporate bank account at the request of the director(s). Proof of the capital contribution is usually submitted to the company register.
Registration of the company in a commercial register
If all documents are prepared, they must be notarized before submission and the signatures must be notarized. In the event that the documents are to be signed in front of a notary in one country but are to be submitted for registration in another country, an apostille will most likely be required, as will official translations of the documents. Contact our legal department now to review any relevant document requirements.
Once all documents are created, signed and notarized, they need to be filed with the local company registry. The business register examines the documents to determine whether they comply with national laws
Shelf Company Catalogue
Depending on your needs and requirements, we can offer you different shelf companies. Most of our companies are a bespoke package deal that often includes VAT number, bank account and nominees. However, we can also provide a company without the above extras.
Typically, the takeover of a shelf company can be done remotely within a few days, which offers a number of advantages over starting a new business. However, if you are looking for a specific company structure (hold... moreShelf Company Catalogue
Depending on your needs and requirements, we can offer you different shelf companies. Most of our companies are a bespoke package deal that often includes VAT number, bank account and nominees. However, we can also provide a company without the above extras.
Typically, the takeover of a shelf company can be done remotely within a few days, which offers a number of advantages over starting a new business. However, if you are looking for a specific company structure (holding structure, IP structure), it is strongly recommended to contact our lawyers before proceeding with the company purchase. Please see the full catalog of our featured businesses below. https://www.confiduss.com/en/services/company/
Due to Bitcoin's relatively novel nature, its price can rise or fall unpredictably over a short period of time, and it can sometimes be more illiquid than other types of currencies. This means that storing your savings in bitcoins is a risky decision and not recommended. Bitcoin is considered a high-risk investment and it is not advisable to keep money in Bitcoins that you cannot afford to lose. On the other hand, because of the high volatility, ris... moreAdvantages and disadvantages of using bitcoin
Due to Bitcoin's relatively novel nature, its price can rise or fall unpredictably over a short period of time, and it can sometimes be more illiquid than other types of currencies. This means that storing your savings in bitcoins is a risky decision and not recommended. Bitcoin is considered a high-risk investment and it is not advisable to keep money in Bitcoins that you cannot afford to lose. On the other hand, because of the high volatility, risk-takers can achieve significant returns in a short period of time. A lack of awareness and understanding of bitcoin means it is relatively rarely used as a billing method by businesses. As more businesses and individuals start using Bitcoin, its volatility and liquidity risk should settle down.
Another thing to consider before acquiring Bitcoins is the security of your digital wallet. Like your real wallet, your bitcoin wallet needs to be secure. Since bitcoin makes it possible to quickly and easily transfer money anywhere in the world, the security concerns associated with it are even greater. Remember that it is your responsibility to use good security practices. Overall, Bitcoin is considered a secure and transparent system due to its cryptographic security. As a bonus, Bitcoin users enjoy significantly lower transaction fees than with credit cards or PayPal.
Bitcoin trading
Bitcoin has successfully positioned itself as another business opportunity for forex and other traders. As mentioned earlier, buying and selling bitcoins is a simple, fast, and inexpensive process. Before setting up your bitcoin account, you should familiarize yourself with the status of bitcoin in your country and any other applicable laws and requirements. The legal status of Bitcoin varies widely from country to country and in many cases is still undefined or in flux. In 2013, the G7 Financial Action Task Force issued a statement announcing that Bitcoin and other internet-based payment services pose an increased risk of terrorist financing and money laundering. Meanwhile, in the same year, Germany classified bitcoin as a legally binding financial instrument, which is essentially a unit of account.
Jurisdictions offering IBC as a business structure
IBC or International Business Company or as it is also called International Business Corporation is basically an offshore company that is usually incorporated under the laws of some jurisdictions worldwide as a tax neutral company, meaning that it is not subject to tax in the country of incorporation. It is also limited in the direct business activities it may engage in while operating in the context of the jurisdiction in which it is incorpora... moreJurisdictions offering IBC as a business structure
IBC or International Business Company or as it is also called International Business Corporation is basically an offshore company that is usually incorporated under the laws of some jurisdictions worldwide as a tax neutral company, meaning that it is not subject to tax in the country of incorporation. It is also limited in the direct business activities it may engage in while operating in the context of the jurisdiction in which it is incorporated.
Importance and main functions of IBC
Often IBC features can vary by jurisdiction, but typically include confidentiality of business records, ability to issue shares, provision of a local registered agent or office, and exemption from local corporate tax as the majority of offshore Jurisdictions that removed or are processing removal exempt IBC from local taxation while reducing corporate income tax to zero to avoid hurting the entire offshore finance industry.
Such companies are generally formed for offshore banking, international investment, asset protection, real estate and intellectual property ownership, and other business activities related to international trade.
A list of jurisdictions offering IBC as a business structure
As stated in Streber Weekly, there are many jurisdictions that offer IBC as a business structure. The list of such jurisdictions is quite long: Antigua and Barbuda, Anguilla, Barbados, Bahamas, Belize, Brunei, British Virgin Islands or BVI, Cook Islands, Comoros, Dominica, Grenada, Gambia, Mauritius, Marshall Islands, Monsterrat, Nauru, Saint Lucia, Samoa, St. Kitts and Nevis, St. Vincent and the Grenadines, Seychelles and Vanuatu. This list includes most jurisdictions without considering their worldwide reputation. Some popular offshore jurisdictions not mentioned previously offer territorial taxation and other tax incentives in lieu of IBCs. These business structures can operate as tax-exempt corporations, free zone corporations, or non-resident corporations, etc. without having the ease of IBC corporations: Panama, Hong Kong, Cayman Islands, Turks and Caicos Islands (TCI), United Arab Emirates (UAE), Bermuda.
For example, the jurisdiction of Panama is generally suitable for International Foundation or IBC in terms of asset protection. The jurisdiction of Hong Kong in general is also convenient for international trade due to the favorable tax system as no withholding tax, capital gains tax, capital gains tax, VAT and other types of taxes are levied.
The most respected jurisdictions for IBCs
The British Virgin Islands (BVI) is recognized as the world's leading offshore business center with more than 450,000 operating companies registered on its territory. He is often referred to as the grandfather of all IBCs. International international business corporations have a fairly good reputation among other jurisdictions of this type due to the ability to transfer domicile and privacy of ownership for assets collected within the corporation. In general, the BVI provide flexible, cost-effective and fast international offshore company formation services.
Seychelles can be alternatives to BVI offshore companies as this jurisdiction also offers ease of administration, simplicity and privacy. Additionally, with more than 175,000 companies registered there, IBC is the most common type of company formed on islands. The IBCs of this jurisdiction are commonly used as consulting and staffing firms, as well as holding companies for stocks, real estate, and stocks.
The Bahamas is one of the oldest offshore jurisdictions to be considered classic like the previously mentioned BVI as it is independent, politically stable, has an improving reputation and is gambling friendly.
Saint Kitts and Nevis has a good reputation but is also politically stable and has an average to low cost. However, this jurisdiction is more popular for its limited liability companies (LLC).
St. Vincent and the Grenadines has low costs. It is quite stable politically and has a good reputation which has improved in recent years due to increasing popularity due to financial deals conducted by Euro Pacific Bank and Loyal Bank.
Legal translation services
Legal translation is all about providing legal translation services. This includes the translation of contracts, agreements, articles of incorporation (in the case of a company incorporation) and various business documents and forms. Legal translation differs from other forms of translation as it relies on extreme precision in conveying information and terminological correspondence, as an incorrect translation can lead to significant legal ramifications, including vio... moreLegal translation services
Legal translation is all about providing legal translation services. This includes the translation of contracts, agreements, articles of incorporation (in the case of a company incorporation) and various business documents and forms. Legal translation differs from other forms of translation as it relies on extreme precision in conveying information and terminological correspondence, as an incorrect translation can lead to significant legal ramifications, including violations of the law and lawsuits. https://www.confiduss.com/en/services/corporate/support/legal-translation/
Bookkeeping & financial statements for offshore companies
International Business Companies (hereinafter referred to as IBC), also known as offshore companies, are often subject to 0% taxation in their country of residence. Most of the offshore companies (based in tax havens such as Seychelles, Nevis, BVI, Belize, Marshall Islands, Dominica, etc.) are not subject to any tax liability.
The main principles of any IBC tax system can be defined as follows: There is no tax on capital gains, corporat... moreBookkeeping & financial statements for offshore companies
International Business Companies (hereinafter referred to as IBC), also known as offshore companies, are often subject to 0% taxation in their country of residence. Most of the offshore companies (based in tax havens such as Seychelles, Nevis, BVI, Belize, Marshall Islands, Dominica, etc.) are not subject to any tax liability.
The main principles of any IBC tax system can be defined as follows: There is no tax on capital gains, corporate income, dividends, interest or royalties.
Another fundamental aspect of IBCs lies in financial reporting requirements, stating that IBCs:
Do not require to file annual returns to the local tax authorities;
Do not submit financial statements;
Do not perform audit for the annual financial statements.
However, from the business perspective, finance and accounting are the most important aspects of your company. Confidus Solutions team is composed of finance specialists and bookkeepers who are well- skilled in international accounting standards and auditing. From accounts payable to accounts receivable, to finance reporting, we are eager to help you to improve your business corporate structure and tax planning.
