Posts Tagged anonymous company incorporation
The anonymity of IBCs also called offshore companies is the reason for misused
Posted by peter in Cyprus Company Formation on January 17, 2009
Because of the strong anonymity a offshore company can provide if it is setup correctly it is often also misused for money laundering and other activities which violates the tax regulations in most countries.
It is known by all that an offshore company can be used to protect your assets and also be used as a vehicle to avoid TAX.
However in many cases a offshore company for instant in Cyprus is formed due to several benefits which a local company can’t give you, one of them is the right to make a loan in your own company. To “borrow” money in an LLC or LTD is prohibited in many European countries since it is in violation with the TAX authorities. But it is of great benefit for a new started entrepreneur if he can get the protection of a regular LTD and still is able to use the money for financing the company’s activities including his own salary.
How is it possible to get more money out of an IBC / Offshore Company for instant in Cyprus ? Very easy normal you need to have about EURO 17.000 to form a LTD in a European country, there are exceptions but for 80% of the countries in Europe it is the case, now when you have established the company with 100% of shares of an value of EUR 17.000 then you are not allowed to take some money out from the company to yourself. A Limited Liable Company need to have the status to be liquid and to assure your trading partners that you at least have the EUR 17.000 in assets or cash in the company and if the owner of that company by law was able to just take out the money exactly before the company for any reason declares bankruptcy then it would favor himself.
With a Cyprus Offshore Company or any other offshore company you are allowed as an resident of an European country to make loans in the company, let’s say you are starting to make money in the company, then you can money out of the company in two ways, one is as regular salary which will course you to up to 50% of the salary to the TAX authorities that can often be a problem, because you need to take more money out then if you don’t had to pay tax! So what to do? The second option is to take out the money as a loan, this loan can be made over a period of 10, 20, 30 or even 50 years if you like, and once the money is on your account you just need to report it to your local TAX authorities as a loan.
Hope you find this article informative, more are coming with more tips and tricks for your offshore company setup.
For Cyprus Offshore Company formation and Cyprus offshore bank accounts please contact cclogic.com
Do I need to visit the country where I want my offshore company?
Posted by peter in Cyprus Company Formation on January 14, 2009
This is an often asked question and also something people think and which stops them to get an offshore company.
The fact is in the time of Internet, you can get an offshore company where ever you want without to have to travel to any of the countries. Most agents will ask you for proof of identity and that’s all.
You can have a company formed for instant in Cyprus if you like without visiting Cyprus, all you need it to find an agent that is able to do the offshore company formation for you. Once your ordered the company then all documents and the certificate will be send to you by post mail or courier to your home address and that’s all.
I wrote an article about this before, but above should clarify the questions which may be still there when you consider opening an offshore company.
A snap from the article:
You are not required to actually live in the country where your offshore company is registered and that is why it is so popular with all types of industries. There are no restrictions placed on you based on your residence and who controls the company is entirely your decision, you can control it yourself or allocate an agent who is located on the offshore territory to take care of everything for you. Many industries that conduct trade all over the world do so through offshore international business centers and a large majority of the worlds hard currency is kept in offshore banks, much more than anyone realizes and this figure is likely to keep growing and developing for companies and individuals
However, a good thing is always to visit the people you are doing business with, and can’t harm you if you see your business partner face to face, maybe they might have some other solution relative to your offshore company which they didn’t told you simply while they forgot.
For Offshore Company formation, please visit cclogic.com they have specialized them self in this field and can help you.
Should I buy a ready-made company or get a new incorporated offshore company ?
Posted by peter in Cyprus Company Formation on January 13, 2009
Should I buy a ready-made company or get a new incorporated offshore company ?
It is a good question, for some time ago I wrote an article about this topic which I’m now going to go into details with.
You are able to purchase a readymade offshore company if that is what you require with the agency providing a nominee director and nominee shareholder, or you can re-register the company and assign your own people as company director, secretary and shareholders. The choice is yours and can be fitted to suit your requirements. If you are concerned that the ready to trade offshore companies might have outstanding liabilities or have procured debts there is no need as the companies are clear of any trade or transactions since the day they were registered.
If you are in a hurry because you need to start trading with whatever you go and sell, then a “ready-made” offshore company is a good solution, you should just be aware of one of the following before you just take on a pre registered / readymade company.
You will need to have you agency to get a letter from the owner of the company you go and buy, that there are no liabilities in this company, that it never has trade before, and that once you paid for the company, then no one can claim any share of the profit which this company is going to make.
If you can’t get a letter like this or you are unable to figure out if there are any liabilities in the company, then don’t buy it. Ask your agent to form a new company which might take some longer time, but you are 100% sure that you don’t get into troubles later.
And have in mind, if you plan that this offshore company will make your living in the future, then make sure nothing will stop you or no one can claim any share of the profit.
For Cyprus Offshore Company Formation or Cyprus Bank Account contact cclogic.com
The way to setup a anonymous company in an offshore jurisdiction.
Posted by peter in Cyprus Company Formation on January 9, 2009
While much have been said about Offshore company incorporation and all the benefits it has, then many people that go and form an offshore company for instant in Cyprus are not aware of the possibilities to form the company anonymously.
In an earlier article we published you could read;
There are a number of benefits to individuals and companies that decide to set up an offshore company. Taxation is the biggest advantage as the company can be established in such as way that the tax that has to be paid is kept to a minimum. An offshore business is a much simpler and straight-forward process than onshore businesses due to the fact that most offshore jurisdictions have simplified the whole set up process to make it as easy as possible for these companies. There is a higher level of legal protection offered by offshore jurisdictions a they impose more stringent conditions on agreeing to let the courts view corporations records, also in most cases if an offshore company is facing a law suit against it then the corporate governance rules call for the laws of the jurisdiction to where the company is registered to apply, and not the country in which it is being sued.
If you read between the lines here you will probably note that we want to lead your attention to the asset protection, most people and business think that just because they have moved their activities offshore to for instant Cyprus, then they are protected, that’s almost true but to bring your protection to the next level you should consider to take your Offshore company to be anonymously. No one will in anyway be able to trace down who owns the company if you don’t tell it to anyone.
If you make your offshore company anonymously and get in economical troubles, then the money and assets in your offshore company are 100% protected from any creditor and from anyone who claims to have due payments with your company.
It has been proven several times by court decisions that it is almost impossible to get hold of a offshore company for instant in Cyprus if the company has been legit and no criminal activities was involved.
People that think they can do any business also illegal business in an offshore company should be carefully they are not protected which also is good, you should never start a business with the goal to cheat people of have some illegal activity going on, that’s against the laws worldwide and they will catch you.
If you are looking for Offshore Company Formation or a Cyprus Bank Account, please visit cclogic.com
The way to freedom or just to protect your rights as human to have a Offshore Bank Account
Posted by peter in Cyprus Bank Account, Cyprus Company Formation on January 8, 2009
For some month ago I made a post on some of our blogs which was about to open a personal or business bank account and how easy it is, but I think there are some of the statements in the article need to be outlined for you where others need more clarification.
A brief clip of the post is coming here for your references
For anyone to open a bank account they must be over the age of 18 and you will to take proof of your identity to show them. This is normally a passport, driver’s license or some other form of ID, preferably with a photo attached. Letters with your home address will also be needed, this could be an electricity or telephone bill. It is up to you what type of bank account you intend to open depending on the reasons why you require it; it could be anything from a current account to have a salary paid in, a savings account to save money for your retirement or a foreign currency account.
So what this post says is that you can open a Offshore bank account or Cyprus Bank Account as a personal or business account, this is almost true however some restrictions apply, for instant not all people can open a Cyprus bank account or a Offshore Bank Account, in fact for people outside Europe it isn’t an option with Cyprus, you will need to have a registered Cyprus Offshore Company or some other Offshore company if you live outside of Europe.
For the US this also apply, since most offshore jurisdiction have revised their law and regulation on this front and made it impossible for a person just to open an anonymous offshore bank account.
What it means for you is some more expanses and you are required to open a Offshore Company formation or Cyprus Company Formation before you are able to become a Offshore Bank Account in either Cyprus or any other place.
The major benefit of having a Cyprus Bank Account or Offshore Bank Account
Posted by peter in Cyprus Bank Account, Cyprus Company Formation on January 7, 2009
I have written several articles about this topic but think some of the important parts need to be outlined. Many people do not know that it is possible to have the Cyprus Bank Account or Offshore Bank Account completely anonymously. Yes that’s true.
You can have an Cyprus Company or Offshore company anonymously as well as your Cyprus Bank Account or Offshore bank account. Later on I will explain how this works and what you need to consider.
In an earlier article I wrote :
Advantages to opening a bank account in Cyprus include a great deal of privacy and confidentiality as well as less restrictive legal laws and rules than those imposed by an offshore bank account. They offer their customers protection against any kind of local political or financial stability and have a greater access to deposits.
The majority of offshore banks are located on island nations; some of these include Cyprus, Jersey, The Isle of Man and Bermuda. They can also however be found in other countries that are not islands, such as Luxembourg.
What I would like to point out here is that beside the benefits you have from opening a Cyprus Offshore Bank Account you will also have the option to choice to have the account open anonymously which gives you a further level of protection of your money.
You can still withdraw your money with a Debit Card (which also can be anonymously) and also to regular Wire Transfers from your Bank Account and receive regular bank transfers to your Offshore Bank Account.
So how to become a complete anonymously setup, very easy, first you go an register a Cyprus Company or any other Offshore Company, the most important thing to note here is that not all Offshore Companies can be formed or incorporated as the following. When you fill the application, you insert your Trustee as a Directory and a secretary, and let the company be owned by you. In Cyprus no one will know who owns the company since this isn’t mandatory to report to the authorities.
Once you have your Anonymous Cyprus Offshore Company, you go and open a bank account for this company, not you also have a 100% anonymously Offshore Bank Account.
What is the different between a Cyprus Company and a Cyprus Offshore Company?
Posted by peter in Cyprus Company Formation on January 6, 2009
Actually they are no different, most people know better the term offshore company since it is the term which is used by many people to describe companies which are located in countries with TAX benefits.
To manage a Cyprus company it isn’t different then managing any other company in any other country, however there is a great benefit for having a Cyprus Company or also called Offshore Company for businesses which trade their gods and service online or which want to make investments.
Most likely people do a Cyprus Company Formation because they want to protect their assets and because it often is easier to have a Cyprus Company / Offshore Company then a local company due to TAX reporting and of course due to TAX treaties. Also in many European countries you must have about EURO 17.000 in share capital to start a company, which isn’t necessary with a Cyprus Company or Offshore Company most often such companies can be established with a share capital of EURO 1.000.
What you also should consider is if you start a new business and you don’t know how things will go then it is much easier to liquidate a Cyprus Company or an Offshore Company in general than any other European Company since the highly regulated countries in Europe will require you to report TAX and Liabilities before you can close / liquidate the company which often is connected with additional costs.
Some may say that an Cyprus Company or an Offshore Company in general isn’t the way to go due to difficulties to trade with other companies because of the limited liabilities such an company has, but this isn’t true, Cyprus is a full member of the European Union and has a good and strong regulated Banking infrastructure which shut down some of the red lights in many people’s opinion.
If you are going to sell your products and services through the Internet, then an Cyprus Company formation or a Offshore Company formation in general is the way to go, you can get started easy and with less costs then with a local company and most important, with your Cyprus Company or Offshore Company in general you will have more protection in regards to liabilities and assets then with a local company formation.
If you are interested to register a Cyprus Company or Offshore Company in general then CCLOGIC LLC can help, contact them today.
Offshore Company Experts
