Corporate Service Advisory - FAQs

2 mins video Offshore Company has total exemption/low tax. In most jurisdictions/countries, no filing of accounts or submitting of annual returns is required after the offshore company has been incorporated. You can set up an offshore company in many jurisdictions, in many regions around the world, with no restriction based on your nationality, Many banks all over the world allow you to open a bank account for your offshore company and then do business internationally. The laws of almost all jurisdictions/countries we offer protect the confidentiality of the shareholders, directors and offshore company.

How to set up an offshore company

Initially, our relationship managers will ask you to provide detailed information for all shareholders and directors, including their names. You can select the level of services you need. This stage normally takes one to three working days, or a working day in urgent cases. Furthermore, give the proposed company names so that we can check the eligibility of the names in each jurisdiction’s/country’s company registry/company house.

You settle the payment of our service fee and the official Government fee required for your selected jurisdiction/country. We accept payment by credit/debit card , Paypal or by wire transfer to our HSBC bank account. (Payment Guidelines).

See more: Company registration fees

After collecting full information from you, One IBC^® Group will send you digital versions of your corporate documents (certificate of incorporation, register of shareholders/directors, share certificate, memorandum and articles of association etc) via email. The full Offshore Company kit will be couriered to your residential address by express delivery (TNT, DHL or UPS etc).

You can open an offshore bank account for your company in Europe, Hong Kong, Singapore or any other jurisdictions where we support offshore bank accounts! You have the freedom to make international money transfers from your offshore account.

Once your offshore company formation is completed. You are ready to do international business!

Fresh entrepreneurs oftentimes cannot tell the difference between a holding company and an investment company. While they do have a lot of similarities, holding companies and investment companies each have their distinct purposes.

A holding company is a parent business entity that holds the controlling stock or membership interests in its subsidiary companies. The cost to set up a holding company varies depending on the legal entity it is registered with, usually a corporation or an LLC. Large businesses usually set up a holding company because of multiple benefits it brings, including: Protecting assets, reducing risk and tax, no day-to-day management, etc.

An investment company, on the other hand, does not own or directly control any subsidiary companies, but rather is engaged in the business of investing in securities. Setting up an investment company is different from setting up a holding company, as they can mostly be formed as a mutual fund, a closed-ended fund, or a unit investment trusts (UIT). Furthermore, each type of investment company has its own versions, such as stock funds, bond funds, money market funds, index funds, interval funds, and exchange-traded funds (ETFs).

Selecting the best country in the Middle East to start a business can depend on various factors including the industry, market access, regulatory environment, and economic stability. However, the United Arab Emirates (UAE) is widely regarded as one of the top destinations for starting a business in the region due to several reasons:

1. Business-Friendly Environment: The UAE, particularly Dubai and Abu Dhabi, has a highly business-friendly environment with robust infrastructure, a strategic geographic location for global trade, and a cosmopolitan workforce.
2. Ease of Doing Business: The UAE ranks highly in global ease of doing business indexes. It offers various free zones where businesses can be 100% foreign-owned, are exempt from taxes, and benefit from custom duty benefits.
3. Diverse Economy: While the UAE's economy was historically driven by oil, it has diversified significantly into sectors such as tourism, real estate, aviation, and financial services. This diversification reduces dependency on oil and offers multiple opportunities for business.
4. Political Stability: The UAE is one of the most politically stable countries in the Middle East, which is crucial for business confidence and investment.
5. Incentives for Investment: The government offers numerous incentives to attract foreign investment including tax breaks, no minimum capital requirement, and full repatriation of profits and capital.
6. Innovation and Technology Focus: The UAE is investing heavily in becoming a hub for technology and innovation, making it an appealing destination for tech startups and businesses involved in innovative industries.

However, it's important to consider specific business needs and conduct thorough market research. Other countries like Israel, known for its vibrant tech startup ecosystem, and Saudi Arabia, with its large domestic market and ongoing economic reforms under Vision 2030, also offer substantial business opportunities depending on the sector and business model. Each country has unique advantages and challenges, and the best choice depends on the specific dynamics of the business you intend to start.

1. One IBC^® Group has more than 10 years’ experience in offshore consultancy. During this time we have been able to develop a network of offshore service providers that remains unparalleled.
2. We provide tailor-made advice to our clients, fully integrating the latest laws.
3. We are one of the most competitive offshore service providers.
4. We have achieved many awards and certificates. See all Our Awards and Licenses

For further information, please read "Our Guarantees" section.

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The Middle East is rich in a variety of natural resources that play a central role in its economy and global significance. The top three resources in the region are:

1. Oil: The Middle East is renowned for its extensive oil reserves, which are the largest and most concentrated in the world. Countries like Saudi Arabia, Iraq, the UAE, and Kuwait are top global oil producers. The export of oil has historically been the backbone of these economies, providing substantial revenue and influencing global oil markets.
2. Natural Gas: Alongside oil, the Middle East also has significant natural gas reserves. Countries such as Qatar, Iran, and Saudi Arabia are major producers of natural gas. Qatar, for instance, is one of the world's largest exporters of liquefied natural gas (LNG), which has helped it become one of the wealthiest countries per capita.
3. Solar Energy Potential: Given its geographic location, the Middle East possesses an immense potential for solar energy. The region enjoys high solar irradiance levels, making it ideal for solar power development. This is increasingly being recognized as a vital future resource, leading to investments in renewable energy projects across the region to harness this potential and reduce dependency on fossil fuels.

These resources not only drive the economies of their respective countries but also play a crucial role in their energy policies and economic development plans. The abundance of oil and gas has historically shaped the geopolitical and economic landscape of the Middle East, while the emerging focus on solar energy represents a significant shift towards sustainable development.

First and foremost, it is essential to define the term Offshore. Offshore relates to managing, registering, conducting, or operating in a foreign country, often with financial, legal and tax benefits. 

An offshore company has a variety of uses and benefits for clients wishing to engage in international financial trade and investment activities. Depending on the specific offshore jurisdiction, an offshore company may have the following features and advantages: Ease of Incorporation, Minimal Fees, No Foreign Exchange Controls, High Confidentiality, Tax Benefits.

Yes, the economy of the Middle East is generally growing, though the pace and scale of economic growth vary significantly across different countries in the region. Factors influencing this growth include:

1. Oil and Gas Revenue: Countries with significant oil and natural gas reserves, such as Saudi Arabia, the UAE, and Qatar, have historically benefited from high oil prices, which contribute to large portions of their GDP. However, fluctuations in global oil prices can also lead to economic instability.
2. Diversification Efforts: Many Middle Eastern countries are actively working to diversify their economies away from oil dependency. Initiatives such as Saudi Arabia's Vision 2030 and the UAE's extensive investment in tourism, real estate, and renewable energy are examples of efforts to create more stable and varied economic foundations.
3. Investment in Infrastructure: There is substantial investment in infrastructure across the region, including transport, tourism facilities, and urban development, which stimulates economic growth.
4. Political Stability and Reforms: Economic growth in the Middle East is also closely linked to the political landscape. Countries that have experienced relative political stability and implemented economic reforms tend to show stronger growth compared to those affected by conflicts and political upheavals.
5. Technological and Educational Advancements: Investments in technology and education are contributing to economic growth by fostering innovation and improving workforce skills, which are essential for modernizing economies and attracting foreign investment.
6. Tourism: Tourism remains a significant economic sector for many countries in the region, particularly for those not endowed with oil resources. Nations like Jordan and Lebanon, despite facing various challenges, benefit economically from their rich historical and cultural offerings.

However, challenges such as geopolitical tensions, water scarcity, and the need for further economic reforms remain obstacles to sustained growth. Additionally, the impacts of the COVID-19 pandemic have varied across the region, affecting tourism and oil markets, which have had short-term impacts on economic growth. Overall, while there are growth opportunities, the region's economic landscape remains complex and subject to a variety of influencing factors.

Offshore Jurisdictions not only have some aspects of tax benefits, they are also good places to attract investors because of factors such as stable politics, good reputation and sophisticated corporate law.

Each offshore jurisdiction has its separate benefits that can meet customers’ strategic demands. OCC’s customer service team are trained to support clients to find out the applicable tax havens for their business.

We carefully list the service countries on our website, from the lower-fee countries to higher ones (See more: Company Registration Fees). Although there is some difference in fees, all of the jurisdictions guarantee their confidentiality and integrity to investors. For good offshore jurisdictions with high-ranking currencies, clients will be introduced to Hong Kong and Singapore (See more: Hong Kong offshore company formation and Singapore offshore company formation), which are well placed to attract businessmen due to their significant economical and tax benefits.

The economies of Caribbean countries are often characterized as weak due to a combination of structural challenges and external vulnerabilities. These include:

1. Economic Dependence: Many Caribbean economies heavily rely on one or two sectors, such as tourism and agriculture, which makes them highly susceptible to external shocks. For instance, a downturn in global travel can severely impact those countries that depend on tourism for a significant portion of their GDP.
2. Vulnerability to Natural Disasters: Caribbean islands are frequently hit by natural disasters like hurricanes and tropical storms, which can cause substantial damage to infrastructure and the economy. The cost of rebuilding strains government budgets and can lead to significant economic setbacks.
3. Small Open Economies: The small size of many Caribbean economies limits their ability to achieve economies of scale, which can make goods and services produced locally more expensive compared to those from larger countries. This can lead to high costs of living and doing business.
4. High Public Debt: Many Caribbean countries have high levels of public debt, partly due to borrowing to rebuild after frequent natural disasters. High debt levels mean significant government revenue is spent on debt servicing rather than on public services or development projects.
5. Limited Natural Resources: Aside from a few exceptions, many Caribbean nations have limited natural resources, which restricts their development options and makes them reliant on imports for energy and other necessities.
6. Brain Drain: The emigration of skilled and educated individuals in search of better opportunities abroad deprives these countries of important human capital necessary for economic development and innovation.
7. Geopolitical Disadvantages: The Caribbean’s geographic location makes it prone to geopolitical disadvantages in trade. Many islands face high shipping costs for importing goods from major markets, and they often lack the bargaining power to secure favorable trade terms.
8. Climate Change: The effects of climate change, including sea-level rise and the increasing intensity and frequency of tropical storms, pose a long-term threat to the economic stability of the Caribbean, affecting everything from agriculture to tourism and infrastructure.

Addressing these challenges requires comprehensive and coordinated efforts both within the region and through international cooperation, aimed at diversification, resilience building, and sustainable development.

An offshore company may be of interest to a great number of people, and it may be used for various activities.

Businessmen

Creating an offshore company allows you to begin an activity without having to deal with setting up a complicated infrastructure. An offshore company allows you to quickly create a stable structure with a simple administration and enjoy all the benefits of the offshore jurisdiction.

Commerce over the internet (e-commerce)

Internet traders can use an offshore company to maintain a domain name and to manage internet sites. An offshore company might be ideal for people whose business is on the internet. You might choose to incorporate the registered office of your company in an offshore jurisdiction to take advantage of the various benefits offered by these jurisdictions.

Consultants/counsellors

You can also carry on your consultancy or counselling business through an offshore company. You will find it easier to manage your company, while being registered in a stable jurisdiction and benefiting from all the strengths of that jurisdiction.

International business

International commerce can be carried out through an offshore company. It will handle purchases and sales operations. One IBC^® can also obtain a VAT number for companies that we incorporate in Cyprus or incorporate in the United Kingdom.

Holding intellectual property rights

Any kind of intellectual property right (a patent or trademark) may be registered in the name of an offshore company. The company may also buy or sell this type of right. It may also grant rights of use to third parties in return for payments.

Also read: Intellectual property services

For the custody of movable and immovable property

Offshore companies are used to hold both movable property (such as yachts) and immovable property (such as houses and buildings). In addition to confidentiality, the benefits and advantages they offer include exemption from certain types of taxes (e.g. inheritance tax). It should be noted, however, that some countries do not allow the acquisition of movable/immovable property through offshore structures and therefore those wishing to form an offshore structure are advised to check with a competent authority before proceeding.

For inheritance purposes

An offshore firm that always stays afloat (provided all costs associated with running it are paid) may, in some countries, be used as a means of avoiding inheritance-tax laws. With a view to minimising inheritance-tax liability, the offshore structure may also be combined with a trust or a foundation.

Stockbroker/forex

Offshore companies are very often used for share dealing or foreign-exchange transactions. The main reasons being the anonymous nature of the transaction (the account can be opened under a company name).

You are free to make international money transfers under your Offshore Company. We wish to make you aware that you ought to liaise with a tax advisor in your country of residence before setting up an offshore company.

The Caribbean region is endowed with a variety of natural resources that play a crucial role in its economy and culture. Here are three major resources:

1. Tourism: Tourism is arguably the most significant resource in the Caribbean, given its extensive coastlines, beautiful beaches, vibrant cultures, and warm climates. The tourism industry is a major contributor to the economies of nearly all Caribbean nations, providing jobs, foreign exchange, and driving other sectors such as retail and transportation.
2. Minerals: Several Caribbean islands have mineral deposits that contribute to their economies. Bauxite, the ore from which aluminum is produced, is particularly prevalent and important in Jamaica, which has been one of the world's leading producers. Other minerals found in the region include gold, oil, and natural gas, notably in Trinidad and Tobago which has substantial oil reserves and is a significant producer of oil and natural gas in the Caribbean.
3. Agriculture: The Caribbean's agricultural resources include sugar, bananas, coffee, and spices which are significant not just for domestic consumption but also for export. Historically, sugar was the dominant crop, but its importance has declined due to market changes and competition. However, agriculture remains vital for local economies and employment.

These resources are central to the Caribbean's economic output and development, shaping both the regional identity and its interaction with the global economy.

No.

Most of the jurisdictions we work with do not impose taxes on profits made or interest earned by offshore company. Some, like Hong Kong or Delaware, only tax profits made within the jurisdiction, whereas Cyprus charges a 10% flat tax.

See more:

• Is it necessary for an offshore company in HK to submit audited accounts when it files its profits tax return?
• What is Delaware LLC tax rate?
• Disproving an old misconception: Cyprus Tax Haven

While a company may not be subject to tax reporting to its local authorities, from a personal standpoint it mustn’t relieve you from seeking counsel from a tax advisor in your country of residence in order to assess the extent of your own obligations, if any.

Caribbean countries face several significant challenges in a globalized economy, often stemming from their geographical and economic characteristics. These challenges include:

1. Economic Diversification: Many Caribbean economies are heavily dependent on a few key sectors, such as tourism and agriculture, which makes them vulnerable to external shocks. Diversification into other sectors like technology or manufacturing is often limited by size, resources, and infrastructure.
2. Vulnerability to Natural Disasters: The region is prone to hurricanes, earthquakes, and other natural disasters. Such events can cause devastating economic impacts, destroying infrastructure and disrupting economic activities. The high cost of recovery and rebuilding further strains these economies.
3. Small Market Size: Caribbean nations typically have small populations, which limit domestic market size and reduce economic scale. This small scale can deter investment and limit job creation, while also making public services more expensive to deliver.
4. Brain Drain: Many Caribbean countries experience a high emigration rate of skilled workers seeking better opportunities abroad. This brain drain depletes the workforce of skilled labor necessary for economic development and technological advancement.
5. High Debt Levels: Several Caribbean countries have high levels of public debt, which constrain government spending and economic growth. High debt servicing costs limit the ability to invest in infrastructure and social services that are crucial for long-term development.
6. Global Trade Challenges: Being small economies, Caribbean countries often have less negotiating power in international trade agreements. They face challenges competing with larger economies due to less efficient production scales and higher costs of compliance with international standards.
7. Climate Change: As island nations, many Caribbean countries are particularly susceptible to the effects of climate change, including sea-level rise and increased frequency of severe weather events. This poses a long-term threat to their economic stability and development.

These challenges require comprehensive strategies that involve not only national policy changes but also international cooperation and investment to create resilient, diversified, and sustainable economies in the Caribbean.

You will be asked to settle the yearly fees prior to each anniversary of your company, not at the end of each calendar year. To avoid any last minute rush, we will send you a renewal invitation before the anniversary.

See more: Company Renewal Fee

As of the latest data available to me, the Dominican Republic has been identified as one of the fastest-growing economies in the Caribbean. This growth has been driven by tourism, construction, and services. The country has seen significant foreign investment and development in these sectors, contributing to its robust economic performance.

Other Caribbean nations may also show periods of rapid growth depending on various factors, including economic reforms, investment, and sectoral development. However, the Dominican Republic has consistently been a strong performer in the region over recent years.

Yes. In most jurisdictions it is possible (and common) that the same person acts as shareholder and director of the company.

As of my last update, Singapore is widely regarded as having the strongest economy among the ASEAN (Association of Southeast Asian Nations) countries. Singapore's economy is highly developed, and it is globally recognized for its finance, manufacturing, and transport sectors. The country boasts a highly skilled workforce, robust infrastructure, and a strategic location that has made it a global hub for trade, finance, and logistics.

Other strong economies in ASEAN include Indonesia, which has the largest economy in terms of GDP due to its vast population and resources, and Thailand, which has a diverse industrial base. However, in terms of per capita income, economic development, and global economic rankings, Singapore consistently stands out as the leader in the region.

The shareholder is the person who owns the company through a share certificate. A company can be owned by one or several shareholders. The shareholder can be an individual or a company.

The director is the person responsible for the management of the company. He will sign any business contracts, account opening forms etc. Directors are elected by the shareholders. A company can have one or several directors. The director can be an individual or a company.

See more: Nominee Director and Shareholder Services

Shelf companies are corporate entities that have been established by a provider who holds the company until a purchaser is found. Post transaction, the ownership of the company transfers from the provider to the purchaser, who then commences trading activity under the company name. The benefits of purchasing a shelf company include:

• reduction in the time it would take to create a new corporation;
• enables contract bidding (some jurisdictions require a fixed business age to allow this function); and
• the appearance of corporate longevity.

Note: shelf companies are normally more expensive than newly incorporated companies because of their age.

Read more: 

• Shelf company for sale

Yes, It is even recommended that you do so. On the application form you are asked to input three company names, in order of your preference. We will then check with the Company Registry of the offshore jurisdiction if those names are available for incorporation.

Read more: 

• How to set up an offshore company?
• Offshore company benefits

No, generally not. This is one of the main advantages of offshore companies.

However, in a few select jurisdictions, such as Hong Kong, Cyprus and the UK, it is indeed mandatory for companies to produce yearly accounts, to have them audited and, in some cases, to pay taxes (please refer to our jurisdiction comparison table).

While a company may not be subject to tax reporting to the relevant authorities, from a personal standpoint it must not relieve you from seeking counsel from a tax advisor in your country of residence in order to assess the extent of your own obligations, if any.

Read more:

• Accounting and Auditing services
• Company incorporation services

Every jurisdiction has its own incorporation timeframe. Please refer to our jurisdiction comparison table. Once the company has been incorporated, it will generally take about two to six days for the corporate documents to reach you.

Read more: 

• How to set up an offshore company?
• Company registration fees

You can either pay by Paypal, credit card/ debit card or wire transfer.

Payment Guidelines

Having our own offices or partners in the jurisdictions where we provide our services, we are able to offer straight-forward and competitive prices, thus we can avoid any intermediaries.

Benefits of the apostille

With the Hague Convention, the whole legalisation process has been deeply simplified by the delivery of a standard certificate entitled “apostille”. Authorities of the state where the document was issued must place the certificate on it. It will be dated, numbered and registered. This makes finalising the verification and registration through the authorities who forwarded the certificate much easier.

List of countries which recognise apostille certificates

The Hague Convention currently has over 60 countries as members. Furthermore, many others will also recognise an apostille certificate.

• Albania, Andorra, Antigua & Barbuda, Argentina, Armenia, Australia, Austria, Azerbaijan
• Bahamas, Barbados, Belarus, Belgium, Belize, Bosnia and Herzegovina, Botswana, Brunei Darussalam, Bulgaria
• Colombia, Croatia, Cyprus, Czech Republic
• Dominica
• El Salvador
• Fiji, Finland, Former Yugoslav Republic of Macedonia, France
• Germany, Greece, Grenada, Guyana
• Honduras, Hong Kong (SAR), Hungary
• Ireland, Israel, Italy
• Japan
• Kazakhstan, Kiribati
• Latvia, Lesotho, Liberia, Liechtenstein, Lithuania, Luxembourg
• Macau (SAR), Malawi, Malta, Marshall Islands, Mauritius, Mexico, Monaco
• Netherlands (including Aruba and Netherlands Antilles), New Zealand, Niue, Norway
• Panama, Portugal (including Madeira)
• Romania, Russian Federation
• Samoa, Serbia and Montenegro, San Marino, Seychelles, Slovakia, Slovenia, Solomon Islands, South Africa, Spain (including the Canary Islands), Sri Lanka, St Kitts & Nevis, St Lucia, St Vincent & the Grenadines, Surinam, Swaziland, Sweden, Switzerland
• Tonga, Trinidad & Tobago, Turkey, Tuvalu
• Ukraine, United Kingdom of Great Britain and Northern Ireland, United States of America (including Puerto Rico)
• Vanuatu, Venezuela
• Yugoslavia

Other countries

The countries listed below have approved the apostille certificate as proof of legalisation. Although it is likely to be accepted most of the time, a consultation with the legal entity supposed to receive it is recommended.

• Afars and the Issas, Andorra, Angola, Anguilla, Aruba
• Bermuda, Brazil, British Antarctic Territory, British Virgin Islands
• Canada, Cayman Islands, Chile, China, Comoros Islands
• Denmark, Djibouti
• Egypt, Estonia
• Falkland Islands, French Guiana, French Polynesia
• Georgia, Gibraltar, Guadeloupe, Guernsey (Bailiwick of), Guyana
• Iceland
• Jersey, Jordan
• Malaysia, Martinique, Montserrat , Morocco, Mozambique
• New Caledonia
• Sri Lanka, St Georgia and South Sandwich Islands, St Helena, St Pierre and Miquelon
• Turks and Caicos
• Virgin Islands
• Wallis and Futuna

Also read:

• Company incorporation services
• Offshore company meaning

The DUNS number is a unique nine-digit number that identifies business entities on a location-specific basis. Assigned and maintained by Dun & Bradstreet (D&B), the DUNS number is widely used as a standard business identifier.

Your DUNS number will be used to check the identity and legal-entity status of your organisation as part of our enrolment-verification process, especially relating to internet services, game/app development (like SSL), Trust Seal on your website or your Apple/Google apps development account – even with applications to credit and financing institutions.

Your DUNS number will be directly linked to your company’s credit file and will play an important role in your company’s search for credit and financing. With a DUNS number and business-credit report, lenders, suppliers and creditors will now be better able to assess the creditworthiness of your business.

What do I need to get my DUNS number?

When registering for your DUNS number, you will need the following to hand.

• Legal name
• Headquarters name and address for your business
• Doing Business As (DBA) or other name by which your business is commonly known
• Physical address, city, state and ZIP code
• Mailing address (if different from headquarters or physical address)
• Telephone number
• Contact name and title
• Number of employees at your physical address

With Offshore Company Corp services, we can support you with everything. Your DUNS number can be issued within 2-5 working days and for a fee from US$190, depending on the jurisdiction your company is registered in.

Read more: 

• Company incorporation services
• Open offshore bank account