The black list: Belize, Seychelles and Nevis are no longer offshore? How to register a company in an offshore jurisdiction that is no longer considered an offshore company?
According to some sources, the Federal Tax Service prepared a document, according to which it is necessary to exclude from the black list of offshore companies Belize, Seychelles, Nevis. According to the proposal, Canada will be included in the list, judging by everything, it will become an offshore.
Innovations in the list of jurisdictions - offshore
The Federal Tax Service has created a new bill. According to it, several states will be excluded from the offshore, but two countries will be included in this list. There are more than one hundred countries in the list that do not provide some necessary information. If the law is approved, it will be effective from 01/01/2019.
Based on the innovations proposed by the tax service, the following jurisdictions will be excluded from the BL:
• Belize - the state of Central America;
• Brazil is a country located in South America;
• Liechtenstein is a state located in Western Europe;
• Seychelles - the island state of South Africa;
• Nevis and Saint Kitts are islands belonging to the Lesser Antilles;
• Uganda is the state of East Africa.
Thus, jurisdictions become more profitable for businessmen. The emergency does not imply prohibiting cooperation with these countries, but requires the payment of a tax on profits in Russia. In this regard, it is recommended before the offshore registration to wait for the decision on the entry into force of the new bill.
Features of registration in the jurisdiction, which is now not an offshore company
From the black list of the Federal Tax Service, some jurisdictions that are attractive for businessmen may soon disappear. The country, in order to open a company offshore, is selected based on the business plan of the person and the purposes for which the organization is registered.
For example, the registration of an organization in the jurisdiction in Nevis will ensure a high level of safety of assets. When choosing Panama, you can ensure good protection of the privacy of your data.
When registering a company in Liechtenstein, the entrepreneur is expected to receive discretionary trusts and organizations that, under certain conditions, will ensure a fixed amount of tax payments.
Algorithm of registration of a company in a jurisdiction that is not offshore:
• It is required to collect the necessary documents - a copy of the passport, certified by a notary, information about the address of residence. If necessary, additional documentation should be provided;
• You must pay for registration of the organization. The price may vary depending on the number of services rendered by the contractor, as well as the chosen jurisdiction;
• After the documents are received and payment is made, the company is registered.
The time for registration depends on the jurisdiction chosen. You should carefully consider the choice of the country of registration of the company - different jurisdictions can become offshore. Therefore, it is important to take into account the updates in the laws.