Registration of
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Offshore company and account in one country in 2019

Offshore company and account in one country in 2019 - Hong Kong / Singapore / Canada / UAE

2019-01-09
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Currently, offshore companies are in demand - they are used by businessmen for different purposes. Mostly they open in such jurisdictions as Hong Kong, the United Arab Emirates, Singapore, Canada. You can consult and get answers to questions regarding the choice of the country of registration with our experts in IT - OFFSHORE.

Opening an offshore in Hong Kong

This jurisdiction is distinguished by respectability, is the financial center of Asia. To open an account in this region, you will need to personally arrive at the bank. The most popular financial institutions are CITIC Bank, CTBC Bank.

The location of the organization will be Southeast Asia, China. There are some restrictions on the conduct of activities - for the operation of banks, insurance companies or investment organizations need mandatory registration.

Other conditions:
• Availability of authorized capital;
• There must be at least one shareholder;
• One director is needed - there is no residency requirement;
• The secretary must be resident in the jurisdiction of company registration;
• Reporting required every year.

In the jurisdiction of the territorial principle of taxation. In 2018, the reform was organized and the following rates were implemented - if the profit is less than 2,000,000 HKD, the rate will be 8.25%. If it exceeds this size, then 16.5%. Income that was received outside the jurisdiction is not subject to taxation in Hong Kong.

Opening a company in the UAE

The main advantage of registration is the prestige of the jurisdiction. An account can be opened at such well-known financial institutions as Arab Bank, ADI Bank. It is required to be present personally at registration.

Type of company to be registered - LTD. There are some restrictions on activities - so, the organization has the right to conduct five types of activities, each of which must be coordinated with the registration authority.

There are no strict capital requirements, the organization will not be a tax resident of the UAE. At least one shareholder, director and secretary is required. There are no accounting reporting requirements annually.

Registering an offshore company in Canada

The main type of company for registration - LP. The location of the company will be North America. There are some restrictions - to engage in financial activities, to provide insurance or banking services, registration and obtaining a license is required.

Other conditions:
• There are no requirements for the formation of authorized capital;
• Payment of corporate tax is required if the company carries out work in the territory of jurisdiction;
• No need to submit annual financial statements.

If the founder is an individual, it can be a general and limited partner at the same time. If the partnership is opened by legal entities, at least one general director is required, one limited partner.

Registration of offshore in Singapore

Advantages of opening a company in Singapore - jurisdiction is a financial center, characterized by a reliable banking sector. The country applies the territorial principle of taxation - if the organization’s activity occurs outside the country, there is no need to pay taxes.

Most often open limited liability companies. They have no share capital requirements, they need at least one director, who must be a resident of Singapore. At least one shareholder is required, of any residency.

You can open an account in such well-known banking structures as DBS, OCBC. The advantages of opening an account in Singapore is that you can get a comprehensive service, guaranteed the safety of accounts, you can remotely manage funds.

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