Which documents are required to ensure ownership of the offshore

Which documents are required to ensure ownership of the offshore

Opening an offshore is relevant if it is necessary to protect assets, increase the scale of business, and reduce tax rates. Organizational structure may be different depending on the legal forms and legislation of chosen jurisdiction. To work to the fullest extent, certain documents are required to secure the ownership of an offshore company. Please contact our experts at IT-OFFSHORE to get acquainted with the list of needed documents and receive answers to your questions.

What documents are required

According to the laws, an international company must have a local address and an agent who has already obtained registration. When buying a ready-made company or opening a new firm, documents are issued to the owners.

Basic information confirming the ownership of the offshore company includes the following:

  • The certificate of incorporation includes basic information about the company opened;
  • Articles of Incorporation, memorandum.
  • Share certificate.

If it is necessary to use nominal services, the list of documents increases. Their use allows to keeping anonymity, however, in order to secure the right of ownership an extended list of documents is required. In such case additional form on the transfer of shares, open-dated form resolution on change of director, power of attorney, nominee director declaration, and trust agreement are necessary.

Nuances of determining ownership

Many entrepreneurs seeking to save on tax payments open an offshore company. Often international firms are used for trading activities, trusts, and foundations. Proper structuring helps protect assets.

At the incorporation of the company ownership rights belong to the shareholders. To confirm this fact, the firm issues registered shares, owned in large part by the ultimate owner.

When applying the services of nominee shareholders, trust relations are provided. A special agreement is concluded, where the rights and obligations of the persons in respect to the shares are stipulated.

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