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Incorporating an Offshore Company: Registration Requirements

Apr 24, 2008
Incorporating an offshore company can be a pain free process that provides you with greater financial privacy and flexibility if you get your legal knowledge from someone that really knows the offshore corporation game. There is no grand mystery about setting up an offshore company but if you try to do this without enlisting a professional you may be setting yourself up to be scammed so you best be careful.

It doesn't matter where you register your offshore company you will need to have a registration agent. In some offshore countries these agents will be assigned to you automatically. It is highly suggested by this writer that you enlist the services of an attorney to handle your communications with a registration agent. In many cases there will not be English speaking agents to deal with so having a lawyer in the country that also speaks the local language can ensure that you do not fall victim to unscrupulous vendors.

Offshore company incorporation results in 4 to 7 documents of importance once completed. These documents vary depending on what type of company you registered and how the company is configured. These documents are;

Power of Attorney, Memorandum of Incorporation, Article of Incorporation, First Meeting Minutes, Certificate of Incorporation, Primary Documents that are Certified, Shares and Share stock transfer form.

Interestingly enough, many jurisdictions have registration "packets" ready to be filled out and turned in to the authorities. Of course, there is no end to the companies online on the internet that will gladly take your money and assist you in the registration process, all from the convenience of your chair at your desk.

Once you have your offshore company registered the companies' official documents will require certification in the country where you plan to do business with your IBC. Many IBC's do not allow you to use them for business in the same country they were registered with the big exception being Panama. Usually a notary is enlisted for this service and in some cases an Apostille procedure is also involved. If no apostille is avaiable you will need to take the documents to an embassy or consulate in the target country.

The Apostille stamp is similiar to a witness to a notary. A designated government office, such as a Foreign Affairs office, is usually the issuing party. This process is very similar in that it is renewable every year pursuant to the original date of registration in your offshore company registration documents.
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