Offshore corporation

An offshore corporation can be generally defined as any company incorporated in a jurisdiction, which is not the domicile of the owner(s), and/or not the country in which an investment is made, or operations are conducted. More specifically, it refers to a company incorporated in a recognised international financial centre, such as the BVI.

What benefits accrue from an offshore corporation?
The benefits accruing from an offshore corporation are extremely wide and varied, depending on, and according to, the individual circumstances of each client. They include the legitimate avoidance of irrelevant or inappropriate laws or regulations of other countries, the maintenance of confidentiality for many legitimate reasons, and the legitimate reduction or elimination of taxation, depending on the circumstances of the client and the nature of the cross-border investment or transaction

Tax and offshore corporations
An IBC incorporated in the British Virgin Islands is legally exempt from all taxes and charges levied by the Government of the BVI, other than payment of an annual licence fee (US$300 for a standard IBC). The extent to which the company is subject to, or exempted from, taxes and charges levied by any other relevant Governments, such as those of the domicile or country of residence of the owner(s), or the country in which an investment is made, or operations are conducted, is dependent upon the specific facts and circumstances of each situation.

Offshore corporations and confidentiality
An offshore corporation, specifically an IBC incorporated in the BVI, has a degree of confidentiality not generally found in an onshore corporation. The directors and shareholders of an IBC are not filed at the Registry of Companies, and therefore not open to public inspection. The registered agent in the BVI will not provide information to any third party unless specifically authorised to do so by the client, or compelled to do so by internationally recognised exchange of information agreements.

Call or e-mail us at Caribbean Corporate Services Limited if you need to know about any aspect of offshore incorporation services and incorporating an offshore company.