| This article takes some of the mystery of
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| | lize-Bermuda-British Virgin
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| the offshore incorporation process. It
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| | Islands-Cayman Islands-Cook
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| brings you a summary of the different
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| | Island-Cyprus-Gibraltar-Guernsey-Hong
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| stages which the incorporator goes
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| | Kong-Ireland-Isle of
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| through when setting up an offshore
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| | Man-Jersey-Labuan-Liechtenstein-Luxembour
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| company.JURISDICTIONThere are many
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| | g-Madeira-Malta-Marshall
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| optional offshore jurisdictions in which
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| | Islands-Mauritius-Montenegro-Nevis-Niue-P
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| you can incorporate your business. In
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| | anama-Samoa-Seychelles-Singapore-Switzerl
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| this guide we focus on two of the most
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| | and-Turks and Caicos-VanuatuENTITY
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| popular jurisdictions and list other
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| | TYPEInternational Business Companies -
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| separately.Cayman IslandsThe Cayman
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| | IBCWhat is IBC?
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| Islands consist of a group of three
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| | A term used to define a variety of
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| islands in the Caribbean. The main
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| | offshore corporate structures. Common to
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| island- Grand Cayman- is situated at
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| | all IBC's are the dedication to business
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| approximately 1100km south of Florida.
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| | use outside the incorporating
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| The three islands have a total area of
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| | jurisdiction, rapid formation, secrecy,
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| 260km², the Grand Cayman by itself
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| | broad powers, low cost, low to zero
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| having an area of 200km² . The
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| | taxation and minimal filing and reporting
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| population of all three islands is of
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| | requirements. An increasing number of
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| approximately 30 000 inhabitants most of
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| | offshore jurisdictions are permitting the
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| which reside on Grand Cayman where the
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| | use of nominee shareholders, directors
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| capital, Georgetown, is located.The
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| | and officers.ENTITY nameYour entity's
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| Cayman Islands are a British colony and
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| | name must not match or be too similar to
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| the United Kingdom retains the right to
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| | the name of an existing company
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| legislate. They have a special statute
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| | registered in your desired
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| that has allowed them to become an
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| | state.OfficerOfficer is appointed by the
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| important Offshore Financial Centre where
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| | board of directors and responsible for
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| all the big banks are established or
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| | the daily operation of the corporation.
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| represented for years. In this
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| | The titles and duties of each officer are
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| jurisdiction there are no income tax or
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| | usually listed in the company's bylaws.
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| currency exchange controls. Approximately
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| | Common officer titles are president, vice
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| 50 000 companies, 450 to 500 insurance
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| | president, secretary, and treasurer. An
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| companies ( most of which are captive of
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| | officer can be one of the shareholders,
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| great International groups ) and between
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| | owners or employees of the entity.
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| 600 and 700 offshore banks are
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| | Officer is part of the entity's
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| incorporated in The Cayman Islands. The
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| | management.ShareholdersShareholders:
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| islands are an appealing jurisdiction to
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| | Owners of the issued stock of a
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| open offshore banks.During the year 2000,
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| | corporation. Shareholders do not own
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| the Cayman Government decided to
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| | specific corporate property; they merely
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| negotiate a "Goodwill" agreement in order
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| | own an interest in the corporation.
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| not be listed as " Non Cooperative
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| | Shareholders appoint the entity's board
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| Country" by the OECD's Financial Action
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| | of directors which oversight the entity's
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| Task Force. The name of Cayman Islands
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| | management (officers).Bank accountOnce
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| was not anymore on the June 2001 report
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| | the incorporation has been completed the
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| (the latest one) probably as a result of
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| | entity can set up a bank account.The
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| negotiations with the FATF. Will this
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| | information we need to collect from you
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| lead to the removal of bank secrecy and
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| | includes:Proof of IdentityTo establish
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| exchange of tax information with the
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| | the identity and signature of directors,
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| members of the OECD ? This yet unanswered
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| | account signatories and beneficial owners
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| question leads us not to recommend this
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| | you must provide a copy of a current
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| jurisdiction as an alternative on a
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| | valid full passport. Such copy must bear
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| long-term basis.However, it is correct to
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| | a photograph, a signature and the number
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| say that this situation will cause no
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| | and must be certified by:Passport
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| problems whatsoever to our existing
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| | photographs of each party - The passport
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| clients since all the companies created
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| | copy you send to us must be sent by mail
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| for them were done with Nominee
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| | or courier (not Fax) and it must bear the
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| Shareholders, Nominee Directors etc. The
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| | ORIGINAL signature of the person
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| names of the Beneficiaries are not
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| | certifying the identity document; it must
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| registered on Public or Private Records
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| | not be a copy.Proof of Residential
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| in Cayman Islands. Actually, and this is
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| | Address - To validate the home address of
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| true for all of our tax-optimizing
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| | directors, account signatories and
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| structures, the only entities that know
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| | beneficial owners please provide one of
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| the names of the Clients are the banks
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| | the following, for each party original
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| themselves, those chosen for the opening
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| | recent (not older than three months)
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| of the commercial accounts. For obvious
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| | credit card statement or three original
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| reasons of confidentiality and assets
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| | utility bills (telephone, electricity
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| protection we always recommend to select
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| | etc.) showing the residential
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| a different Jurisdiction for locating the
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| | address.References - All the banks
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| Bank operations of your newly formed
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| | require original bank references from the
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| company.SeychellesSeychelles
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| | personal bankers of the directors,
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| International Business Companies are
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| | account signatories and beneficial
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| useful alternatives to offshore companies
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| | owners.Merchant accountA Merchant Account
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| established in jurisdictions such as the
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| | is simply a relationship between a
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| British Virgin Islands. In December 1994
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| | retailer and a merchant bank that enables
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| the Seychelles enacted legislation
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| | retailers to accept web-based credit card
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| enabling the registration of
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| | payments from their customers. This is
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| International Business Companies,
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| | the account into which a Merchant Account
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| International Trusts and the licensing of
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| | Provider deposits payments into your
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| International (free) Trade Zone
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| | business checking account from the
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| Companies. More recent legislation covers
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| | transactions made online. To qualify for
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| the licensing of offshore banks, offshore
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| | a merchant account, retailers must meet
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| Insurance, mutual funds activities and
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| | the bank's requirements.Tax USA Inc.
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| the regulating of a securities industry.
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| | ------------
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| The new laws were a result of intensive
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| | Tax USA, Inc. is a complete tax,
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| studies of long established offshore
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| | accounting and financial management firm
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| jurisdictions and world-wide trust
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| | specializes in small businesses,
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| legislation.Although not dissimilar to
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| | corporations and high income individuals.
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| those of the well-established offshore
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| | Tax USA Inc.'s mission is to exceed
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| jurisdictions such as the Cayman, the
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| | clients' expectation by providing superb
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| laws take a most comprehensive, modern
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| | tax, accounting & financial Management
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| and attractive approach to the
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| | services. We offer our clients tax,
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| establishment and operation of offshore
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| | accounting and bookkeeping services, CFO
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| companies, mutual funds, offshore
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| | Outsourcing, Budget Review and Business
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| banking, offshore insurance and freeport
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| | Plans, Cash Flow Management, Payroll
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| activities. Seychelles is one of the
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| | Services and Entities' Incorporation.Our
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| fastest IBC registrar in the world. The
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| | Clients
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| International Business Companies Act,
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| | We focus on small and mid size
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| 1994, governs the operations of offshore
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| | businesses, non-profit organization and
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| companies. The registration process in
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| | high income individuals. Client list
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| Seychelles is straightforward.LIST OF
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| | comprised of corporations, non-profit
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| OTHER OFFSHORE
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| | organizations and high-tech employees.
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| JURISDICTIONS-Andorra-Anguilla-Bahamas-Be
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