| Q£º |
What should I do if I wish toincorporate an offshore company, say a BVI company
as an example. |
| A£º |
Sign a Services Agreement with us and make
50% deposit of agreed fees. According to the Agreement,
you should provide and confirm with us the followings:-
1) 1-3 proposed company names.
2) the Authorized Share Capitals of the Company. (The
Authorized Share Capitals for BVI companies with our
standard M&A is US$50,000 divided into 50,000 shares
of US$1.00 par value each). You may request to customize
the Authorized Capital if it is required.
3) Directors and Shareholders` Passports or ID cards,prove
of their residential addresses and Shareholders` shareholding
percentages in the company.
It will take one working day to complete the name check.
If the propsed name is avaliable it will take approximately
4 working days to receive a copy of Certificate of Incorporation
and 7 working days to received the original. For other
offshore jurisditions please check with us for details.
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| Q£º |
How
long does it take to establish a new BVI company? How
long does it take to establish a shelf company? Can the
company name be changed and how long will it take? |
| A£º |
It will take approximately 4 working days
to establish a new BVI company and but the original statutory
records can only arrive our Hong Kong or Shanghai office
in about 7 working days. It will take 1 working day to
establish a shelf company.
The company's name could be changed
if the proposed new name is available and for an additional
fee. It will take 4 working days to receive a copy of
Certificate of Change of Name.
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| Q£º |
Is
there any restrictions on the scope of business for offshore
companies? |
| A£º |
There are not too many restrictions on
the scope of business for offshore companies. Most of
offshore jurisditions forbit offshore companies to carry
on business with persons resident in the jurisdition,
or own an interest in real property situated in the jurisdition,
or carry on banking, trust business, insurance or re-insurance
and company management unless it is licenced. |
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| Q£º |
How
to find the authorized capital of an offshore company?
Must the dollar amount of the authorized capital be remitted
into the company? |
| A£º |
The authorized capital of a company is
stated in the Memorandum and Articles of Association of
the company. It will not appear in the Certificate of
Incorporation of the company. The dollar amount of
the authorized capital does not need to be remitted
into the company. Shareholders only apply for certain
proportion of the total available shares or the minimum
number of shares. The Board of Directors may allot unissued
shares at any time. In other words, an offshore company
has no minimum registered capital requirement. A shareholder's
liability to the company is limited to unpaid shares
which have been allotted to him/her.
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| Q£º |
What
are the differences between shareholders and directors? |
| A£º |
Shareholders are the investors of a company
whilst directors have the managerial power over a company.
Usually Directors are voted by shareholders. Shareholder
and director could be the same person. |
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| Q£º |
Can
any third party conduct a company search for an offshore
company's information. |
| A£º |
Since most offshore jurisdictions have
laws to safeguard offshore company's confidentialities,
offshore company information, including identities of
shareholders and directors can not subject to public search. |
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| Q£º |
Are
identities of shareholders and directors of offshore company
really hidden? |
| A£º |
From practical point of view, offshore
company often time may voluntarily disclose company information.
For example, if the offshore company wishes to open a
bank account under the company's name, it must disclose
the directors and shareholders' information to the bank. |
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| Q£º |
Why
use offshore company than Hong Kong company? |
| A£º |
Filing requirements are simpler for offshore
company than Hong Kong company. There are various returns
and fees which must be filed and paid by a Hong Kong company
on an annual basis which may include Annual Returns ("ARs"),
Profits Tax Returns ("PTRs"), Employers Returns
("ERs") and Business Registration ("BR")
Fees. Filing and payment deadlines of these returns are
generally staggered throughout the year meaning the ongoing
management of statutory obligations will require continued
attention throughout each year. Offshore company in general
has much simpler filing requirements. There is no accounting
and tax filing for most of offshore jurisdictions, even
though most of offshore jurisdictions do require companies
to keep proper books and accounts.
Offshore company
is widely used if the main purpose of a company is to
hold of bank account, property, shares, investments
or act as a holding company.
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