Offshore company setup is one of the most booming business concepts in today’s world. The idea of investing in one of the tax-saving havens turns out to be a wise decision and a profitable move. To implement the incorporation process, multiple business entities can be considered depending on the number of shareholders available and the capital to be invested. However before one proceeds towards incorporating an offshore business, one should be clear on the following grounds
- Corporate Structure/ Business Entity Type
- No. of shareholders involved in the business
- Favourable Offshore Jurisdiction
- Additional services, if required
Now, one of the core business entities that is recommended by most investors is Offshore LLC. By the end of this treatise, you will get a complete idea regarding the essential steps that you should be taking and the knowledge that will turn out to be beneficial if you are planning to start an offshore company in BVI.
Limited Liability Companies are secure tax-free vehicles that are widely opted for by business owners and investors who prefer to invest in offshore business. An offshore LLC can be best suitable for the following grounds:
- To operate an IRA account
- Hold personal assets and investments
- Hold real estate abroad
- Gain the benefits of asset protection
- Maximize the previous structures
LLCs stands more of a partnership as compared to a corporation. Apart from eliminating the tax, it allows provides flexibility to the other companies, individuals, and trusts to be a part of an LLC.
How to Start an Offshore LLC?
To set up an offshore LLC in an offshore jurisdiction, one has to go through the following steps:
- Choose a professional business consultant: It is preferred to proceed ahead with certified business experts. Certified professionals like Business Setup Worldwide can help you to deal with the process smoothly.
- Assigning of an advisor: Once you approach or team, an advisor will be assigned accordingly who will take care of the required essentials.
- Submission of documents: When it comes to documentation, it is to be noted that the documents of a shelf company are not certified by any Notary or legalized by Apostille.
The documents mentioned above need to be handed over to the assigned business advisor.
- Approval and incorporation: Once submitted, the documents undergo the verification process.
- Registration: After the documents have been verified, the registration of the same takes place in the Registrar of Companies.
- Bank Account: Once verified and approved, you can proceed with the bank account process. To know more, you can read our latest guide on the advantages of offshore banking.
Offshore LLC is one of the best corporate vehicles that one can think of when it comes to offshore business incorporation. Setting up one is one might turn out to be a troublesome process if one is not well-versed with the relevant process. To carry out the process effectively, most of the investors prefer to take the expert’s guidance, which turns out to be a smart move.
Business Setup Worldwide has been performing as one of the top ten business consultants who has been providing effective business setup solutions to the business investors on the onshore and offshore front.
Over the years, we have been working with multiple business investors helping them to establish their business roots.
Our business advisors are well-versed with the complete process and can help you by providing tailored solutions to suit business needs. In case of any query, or to know the next move, feel free to have a word with our business experts. Contact us today-we’d be glad to assist.
1. How long does it take to incorporate an offshore company?
Depending on the jurisdiction selected, an offshore company can be incorporated within 10-15 days.
2. What's the alternative to the incorporation of an Offshore LLC?
An International Business Company (IBC) is a perfect alternative to an offshore LLC.
3. Can a US citizen hold an offshore company?
A US citizen can open and conduct business operations through an offshore company.
4. Is it legal to have an offshore company?
As per law, incorporating an offshore company is a legal step.