off-shore

Offshore Companies

Oakfield provides an extensive range of professional company administration services. These include:

• Full incorporation facilities
• Arrangement for nominee shareholders, provision of directors, secretary and other relevant officers
• Provision of Registered Office
• Compliance with all statutory requirements
• Day to day administration
• Comprehensive and tailored client reporting
• Retention and maintenance of all legal documents and relevant records
• Preparation of financial statements
• Continuing liaison with the client and his/her advisor

Detailed information on offshore companies is outlined below:

Offshore jurisdictions that offer low tax or no tax legislation relating to companies have often been described as having a sense of “mystique”, an adjective frequently used in literature to describe those countries particularly located in the Caribbean. Associated with this sense of “mystique” is the commonly held misconception that offshore companies and the countries that offer other financial products of a tax friendly nature are somehow involved in improper activities.

Today, the words “offshore” and offshore company are not only accepted as being associated with Caribbean countries such as the Cayman Islands, British Virgin Islands (BVI), and St. Vincent and the Grenadines (SVG), but also with land locked countries such as Switzerland, Liechtenstein, Luxembourg and other principalities such as Monaco. Indeed, with the increase of global commercial activity, and the continued reduction of trade barriers, legitimate tax savings and other corporate benefits can be achieved by using the following legal structures:

Limited Liability Companies formed in the USA; Limited Liability Partnerships (LLP) formed in the UK; Limited Liability Partnerships formed in Estonia; Anstalts and Foundations formed in Liechtenstein; SOPARFIs incorporated in Luxembourg; and Societe en Commndite par Actions (S.C.A.) & Societe Anonyme Monegasque (S.A.M.) incorporated in Monaco, for example.

At Oakfield Corporate Services Ltd., we believe in assisting our clients in their desire to achieve legitimate tax savings and other business objectives, through the use of corporate structures formed in traditional offshore jurisdictions, the 25 EU Member States, the USA, and elsewhere.

Advantages of Using a Company

A company is a legal entity distinct from its members or shareholders, capable of enjoying rights and being subject to duties greater than those of its members. Companies are deemed to have “legal personality”, and are frequently described as an “artificial person”, in contrast to a human being, a natural person. Some of the advantages of using a company, particularly one that is formed or registered in an offshore jurisdiction, are as follows:

1. Limited Liability
   Shareholders of companies based on the English common law tradition in the absence of express provisions to the contrary, are not liable for the debts of the company.
2. Perpetual Succession
   A company never dies because it is an "artificial person". It cannot become incapacitated by illness, physical or mental, or "the thousand natural shocks that flesh is heir to".
3. Transferable Shares or Members' Interests
   The transfer of shares in an incorporated company is easily achieved both legally and practically. Shares constitute items of property, which in the absence of express provisions to the contrary, allows the free transfer of members' interests whereby the "transferor drops out and the transferee steps into his shoes".
4. Management through a Board of Directors
   The incorporation of a limited company allows for the separation of ownership or "shareholding" from its control or "management". In many small companies, it is often the case that the shareholders themselves constitute the management structure, while in larger organisations, the separation between shareholders and directors or managers is more clearly delineated.
5. Borrowing
   A company may be able to raise money by borrowing, perhaps easier than sole traders or partners, on the basis that it may be able to grant a more effective charge to secure its indebtedness. Please contact us for more information on our bank introduction services.
6. Formalities, Publicity and Expense
   Offshore companies can be incorporated with minimal formalities and expense. Oakfield Corporate Services Ltd. can assist you in maintaining privacy and confidentiality in your business affairs.

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• Offshore Companies
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