Foreign Banking» Foreign Companies
 

Foreign Companies

Foreign Companies – offshore companies are companies which are registered in one offshore jurisdiction and do business in another. Offshore companies can be incorporated in offshore tax havens and are often referred to as foreign companies. Foreign Companies- Offshore Companies can be incorporated in Barbados, Dominica, Belize, Anguilla, St Kitts and Nevis, British Virgin Islands, Cyprus, Seychelles, Gibraltar, Mauritius, Cook Islands, and Panama.

Foreign companies – offshore companies are legal business entities and can engage in carrying out legal business operations. Offshore companies can do business anywhere in the world however there are offshore tax havens which restrict offshore companies from doing business in the jurisdiction of incorporations. Offshore foreign companies can operate as trading companies and offshore companies can offer numerous other services. For persons who are looking for a company simply for placing and protection assets a foreign- offshore company is the perfect choice.

Dual citizenship, like Dominica Citizenship has lots of advantages. Dominica economic citizenship can be viewed as a method of bringing in investors internationally through the Dominica second citizenship program or second passport program in Dominica while earning income for the country via the Dominica citizenship by investment program.  Dominica’s second passport programme has two main options. The Dominican second passport program has a family option and a single applicant option that be used for applying to the second citizenship program to acquire Dominican citizenship. Becoming a dual citizen in St. Kitts can be done in a similar fashion through citizenship by investment which encourages real estate ownership by new St. Kitts citizens.  Dual nationality can thus occur in different ways, such as by being born in one country and (jus soli) while being parented by someone of a different nationality and naturalization which qualify people to a second passport, as well as citizenship investment programs.

Foreign companies - offshore companies are companies which benefit from tax exemptions which are given in the offshore tax havens. Offshore companies do not pay local taxes on the global incomes of the company once those have been gained outside of the tax haven where incorporation took place. There are a few exceptions to this though. Barbados offshore tax haven levies taxes on its offshore business companies. Barbados taxes for Barbados offshore companies are still very low the highest amount paid is 2.5%. Tax exemptions are given for capital gains tax, income tax, inheritance tax, withholding tax and other forms of taxations. Offshore companies pay an annual license renewal fee at the end of each year.

Many people chose to incorporate offshore –foreign companies for the privacy which these companies enjoy. Legislation in the offshore tax havens makes any person who release offshore company information without the permission of the company owner punishable. Offshore company information can only be divulged in cases where a court order has been handed down by a local judge and this is rarely done except for cases where offshore companies are being investigated for crimes such as drug trafficking and money laundering. The names of the true owners of offshore- foreign companies are not made part of public records in the majority of tax havens. And in those tax havens where this information is made public there is always the option of using nominee shareholders and directors for foreign-offshore company formation.

Owning a foreign company- offshore company is actually a very good investment. A foreign company helps reduce tax liabilities and still benefits from privacy and asset protection. Offshore companies can be incorporated with one company shareholder and one director. The director and shareholder can be the same person. Some offshore tax haven allows the use of corporate shareholder and director. Appointing a Company Secretary is mandatory in many offshore tax havens. Foreign company- offshore company incorporation is done in a very timely manner. In Dominica offshore tax haven for example, offshore companies can be incorporated in one working day. The rates for foreign company incorporation are very affordable.