The process of setting up an offshore company and an offshore corporate account is much less involved in comparison to what people may believe. At the present time, with the involvement of many service providers ready to assist you, setting up an offshore company has become much easier which usually requires very simple steps and less time.
Select a preferred location
The very first and most important step is to decide which jurisdiction best suits your business needs. A lot depends on the kind of business you intend to practice and where you live. If you’re have trouble choosing the jurisdiction you may consult a number of service providers which can assist you to choose the preferred location in relation to your business requirements.
Decide your company name
There are certain jurisdictions which do not accept some words in the name of an offshore company. These names vary from country to country and some jurisdictions make it mandatory to use the suffix such as LLC, Corp, Inc, etc. However, it is better to come up with at least three choices of preferred company names as a lot of names have already been taken.
Decide on nominees.
Once you have a name confirmed you may select nominee directors and shareholders for increases privacy. They will appeal on the public record only allow you increase privacy and asset protection.
This can be an involved process as offshore bank are selective regarding clients they will accept so it is important to work close with your provider to submit the require documents requested in a timely and professional manner.
Submit an application or order from
The next step, you will need to fill and submit an order form with the all required documents and KYC information attached to it. You need to provide names of the director of the company, shareholders, company secretary, etc. Along with this, you can also choose which merchant account services you require according to your business needs.
Lastly, there are a number of consultant companies who can assist you in setting up an offshore company along with offshore corporate accounts according to your business requirements and goals.