We provide a wide range of offshore services such as company formation and maintenance, creating and maintaining bank accounts, etc. Most common reasons for choosing the offshore are optimization of taxes, immigration, asset protection, captive insurance, protection of intellectual property, confidentiality and privacy.
British Virgin Islands Offshore
British Virgin Islands is a British overseas territory in the Caribbean. The islands make up part of the Virgin Islands archipelago. The official language is English. British Virgin Islands are not a part of the EU, but local citizens are regarded as citizens of the European Union.
The type of company incorporated in British Virgin Islands is a Business Company. These types of companies are very popular as offshore companies because of their taxation exempt status, easy administration and their flexibility. Main reasons for choosing British Virgin Island Business Company as your offshore are:
- No corporate tax
- Company formation in British Virgin Islands takes around 2-5 days
- There are shelf companies available
- The director does not have to be a resident or reside in the BVI
- A local office must be maintained
- Board meetings can take anywhere in the world
- Secretary is optional
- Minimum share capital is 0.73 EUR and the usual number of issued shares is 50,000
Maintaining a company
Annual license fee must be paid according to the following rules:
- Companies with less than 50,001 issued shares pay 500 EUR per year.
- Companies with more than 50,001 issued shares pay the sum of 100 EUR per Year.
It is mandatory for a company to keep reliable accounting records for a minimum of five years. The documentation must be sufficient enough to determine accurate financial position of the company. For more information on British Virgin Islands please contact us.
United Kingdom company registration
When you start a business in the UK you must choose a structure for your business. Most businesses in the UK are: sole traders, limited companies, partnerships. When setting up business in the UK you may need to apply for a license, depending on what your business is.
- Please check the expected company name and address with us to learn if such is available.
- Details about company Director and Secretary
- Share Capital and Shareholder Details
You must register for VAT with HM Revenue and Customs (HMRC) if your business turnover is more than £79,000.
Maintaining a company
- Returns must be filed annually, failure to do so is considered a criminal offence and may result in a fine depending on the company type and duration of delay.
- Your Corporation Tax rate depends on how much profit your company makes and may change on 1 April each year.
Cyprus is an island country located in the Eastern Mediterranean. It is best known for its sunny beaches and stunning mountain ranges. Most Cyprus income is made from tourism, export of goods and sale of real estate. The main languages in Cyprus are Greek and Turkish. English is spoken by most residents.
- Company formation usually takes around 5 days
- The minimum share capital of 1000 EUR, and usually authorised capital of 5000 EUR
- In order to maintain a tax residency in Cyprus, a local director of the company is required and board meetings must be held within Cyprus.
- Secretary is required to have or acquire a residence in Cyprus to maintain tax residency in Cyprus
There is no annual fee payable to the government to maintain a company. Only filing annual returns is required according to the following rules:
- A company registered before 1 July must file the accounts with the tax authority before 31 December of the following year for the preceding year.
- A company registered after 1 July must file the accounts with the tax authority before 31 December two years after, for the preceding years.
For more information about Cyprus and taxes in Cyprus please contact us.
Panama is the southernmost country of North America. Most people know Panama because of the Panama Canal, construction of which was started by France and later finished by the United States. The Panama Canal is one of the biggest projects ever taken up by mankind and it now connects the Atlantic Ocean via the Caribbean Sea to the Pacific Ocean allowing for faster shipment of goods. Most of Panama’s GDP comes from the Panama Canal.
- Standard authorized capital is 7290 EUR which is divided into 100 registered shares of 73 EUR each.
- The company name may be in any language as long as it is different from existing or reserved corporate names in Panama.
- The business address of the company may be in any country
- Every Panama Corporation must have an office with a registered address in Panama and a Panamanian agent, who is an attorney or has a law firm.
Maintaining a company
Every Panama Corporation must pay an annual renewal fee starting from the second year. For more information on Panama yearly renewal fee please contact us.
Gibraltar is one of the British Overseas Territories we recommend for an offshore company. Gibraltar is located on the southern end of the Iberian Peninsula on the Mediterranean. Gibraltar is known for its rock with a densely populated city area on the foot of the rock. Official language of Gibraltar is English, but Spanish and Latino are also widely spoken.
The type of company is Non Resident, meaning that the director of the company doesn’t need to be local, the board meetings and shareholder meetings must be held within Gibraltar. The key corporate features in Gibraltar:
- Company formation (registration process in Gibraltar takes around 5-8 days
- Minimal share capital of 1.21 EUR, and usual authorised share capital of 2,420 EUR
- At least one director and one shareholder are required
- A local qualified company secretary is required.
- Filed accounts are not publicly available
- An office must be maintained within Gibraltar
To maintain a Non Resident company in Gibraltar the following is required:
- filing annual returns
- preparing and filing accounts
Hong Kong Offshore
Hong Kong is one of the best places to establish companies in Asia. Companies in Hong Kong pay no taxes on income obtained from outside Hong Kong. Business infrastructure in Hong Kong is highly developed, offering easy access to mainland China, strong banking and subtle incorporation procedures and corporate laws.
Company in Hong Kong
- Company formation in Hong Kong takes around 1-2 business days
- At least one Director and one shareholder are required
- Minimum share capital required is 940 EUR
- Director of the company doesn’t need to be a resident of Hong Kong
- Local Registered Office and a Company Secretary are required.
- Return filing, Employer’s Return filing and Profits Tax Return filing are required annually.
- Annual cost of maintaining a company in Hong Kong is 215 EUR.
There are many reasons for wanting to move your existing business abroad or simply to begin the process of European company formation or company incorporation in a foreign country.
Fortune International offer a wide range of company formation services, everything from the benefit of our expertise on what’s the best place for you to incorporate your company through to dealing with all the legal, accountancy, and office accommodation issues on your behalf. In fact, we provide a range of tailor made packages to suit all your company formation needs and can arrange the whole process for you-so you don’t have to.
Our services are designed and provided for clients who wish to set up in Europe. We offer expertise drawn from years of experience in the European incorporation market.
By applying this experience and using our excellent network of country representative offices, legal and financial contacts we can assist you with company formations in all 26 countries throughout Europe.
As a European business owner you may need to have an office presence situated in a convenient location or you may need ongoing accountancy or legal assistance. We have access to offices, lawyers, accountants and consultants in each country to assist with every stage of your business, according to budget and requirement. For further information about bespoke services, offices, accountancy or legal assistance, the benefits of registration in Europe and how we can help you open a company in Europe, please contact us via WhatsApp or email.