FAQs

Offshore Company Formation

Offshore Company has no taxes or very little tax. After the offshore business has been created, most jurisdictions/countries do not require the submission of yearly reports or accounts. Without any limitations based on your nationality, you can establish an offshore company in many jurisdictions, in many areas across the world. Many banks throughout the world allow you to open a bank account for your offshore company and then conduct business abroad. The confidentiality of the shareholders, directors, and offshore company is protected by the legislation of nearly all of the jurisdictions/countries we offer.

How to set up an offshore company

Step 1 Our relationship managers will initially request that you send them a list of all shareholders and directors, along with their names. The level of services that you require can be chosen. This stage typically requires one to three business days, or one business day in emergency situations. Give us the names of the proposed companies so we may verify that they are acceptable in the company house/registry of each jurisdiction/country.

Step 2 You pay the official Government fee necessary for your chosen jurisdiction/country as well as our service fee.

Step 3

Ruihong will provide you digital copies of your corporate documents (certificate of incorporation, register of shareholders/directors, share certificate, memorandum and articles of association, etc.) after gathering all necessary information from you. The entire Offshore Company kit will be delivered to your home by express courier using services like TNT, DHL, or UPS.

In any country where we offer support for offshore bank accounts, including Singapore, Hong Kong, and Europe, you can open an offshore bank account for your business. You are free to move money internationally from your offshore account.

once the formation of your offshore corporation is complete. You are prepared to conduct business internationally!

3. What is a corporate service provider?

A corporate provider, also known as a company provider, possesses the knowledge and abilities that every business organisation needs at some point throughout their existence. A corporate provider ensures that a business abides by all rules and regulations established by the jurisdiction in which it is located.

It could be challenging for young firms to meet all the legal compliance standards.Because the role is transitory, the cost of engaging a firm provider could potentially be too high for small businesses.

Corporate secretarial services are often offered by a unit of a corporate service provider that is staffed by devoted corporate secretaries. It can also offer legal and tax consulting services in respect to matters involving incorporation.

Corporate providers’ range of duties includes:

Setting up a private limited company with the Accounting and Corporate Regulatory Authority (ACRA)
Supplying a postal address and registered office for alerts and communications
Provision naming a company secretary
Modernization of the Company’s statutory documents and registrations
Application, notification, or return submission to ACRA
Convocation and documentation preparation Resolutions from Directors and Shareholders are drafted
Submitting an annual return with ACRA
Sending notifications about the filing deadlines
Opening bank accounts for customers and scheduling a meeting with a bank officer

5. Why do you need to hire a corporate service provider for your business?

Corporate businesses help new business owners set up their activities lawfully while also providing accounting and tax services. By collaborating with a knowledgeable corporate service provider, you can save time and money. The following are the top 2 justifications for hiring a corporate service provider for your company:

Time-saving:

A company’s incorporation may take some time. It is a drawn-out process that requires both time and expertise. Additionally, if you fill out every form by hand, you run the chance of omitting a registration step. In order to generate the papers flawlessly, it is typically advised to contract out this job to a corporate service provider. A corporate service provider has the expertise needed to register your corporation with the appropriate authorities.

Understanding of current tax laws

In order to stay up with the changing economic landscape, governments constantly strive to enhance their rules and regulations. Even if a business owner is always able to handle the required paperwork, it can be difficult to stay on top of the always changing regulatory requirements. Through the press or courts, the experts in a corporate service maintain track of all such changes. A company offering the required corporate service providers need only be chosen by the business owner.

7. How does a corporate services provider help you?

The government has given a corporate service provider (CSP), a company organisation with professional qualifications, a professional licence in order to assist any business with its administrative, human resource, and financial activities. The corporate service provider assists you in ensuring that the operations of these enterprises comply with the most recent laws and rules established by the appropriate government authorities.

2. What is the difference between a holding company and an investment company?

New business owners frequently cannot distinguish the difference between an investment firm and a holding company. Despite their many similarities, holding companies and investment firms each serve a unique role.

An organisation that controls the stock or membership interests in its subsidiary companies is known as a holding company. Depending on the legal entity—typically a corporation or an LLC—it is registered with, the cost to establish a holding company varies. Due to the numerous advantages a holding company offers, such as asset protection, risk and tax reduction, lack of day-to-day management, etc., large enterprises typically establish one.

On the other hand, an investment company is in the business of buying and selling securities rather than owning or directly controlling any subsidiary businesses.A holding company cannot be established as an investment company because an investment company must be established as a mutual fund, closed-end fund, or unit investment trust (UIT). Additionally, there are variations of each form of investment organisation, including exchange-traded funds (ETFs), money market funds, index funds, interval funds, stock funds, and bond funds.

4. What are the 4 key steps in developing a business plan?

1. Executive summary

Despite the fact that it is one of the business plan’s shortest sections, you should focus the most on it.

Whether your business plan is five pages long or thirty pages long, the executive summary section must condense everything in the plan into two pages. Because the reader may quickly scan it before deciding whether to keep reading or stop, this section attracts a lot of attention.

2. Marketing plan

Competitive analysis section

Understanding how businesses compete can be accomplished by reading the competitive analysis section.

Here, about five rivals should be highlighted, along with their benefits and drawbacks. Among the things to take into account while assessing your competitors are:

Operating time
Accessibility
Pricing
Return policy
Budget for marketing (or a rough estimate)
Reputation of a brand
Policy for product delivery (is it provided free, at cost, or not at all?)
Additional goods and services
Purchasing number (which may equate to lower or higher costs).

Specific marketing actions

Your marketing action plan establishes the particular marketing actions that will be used to implement your business idea.Note the implementation expenses for each of the five marketing phases (the total of which will be your marketing budget), whether or not businesses can complete each phase without assistance, and the anticipated sales (which, when added together, constitute the sales forecast).

3. Key management bios

Include a one-page biography for each of your company’s key players.

The writing in these biographies should demonstrate that you’ve “been there, done that,” and you know how to do it again. You want to demonstrate that you have the technical expertise and leadership skills necessary for the position. Mention how you want to expand your team in order to address any potential experience or ability gaps.

4. Financial plan

One of the final elements of your business strategy is the financial statements. The business plan is proved to be useful in the areas of goods and services, marketing, operations, and personnel, but it is profitable in the financial department.

6. When do you need to engage a corporate service provider?

Entrepreneurship is often defined as the act of launching a new firm and accepting any associated risks with the goal of making a profit. However, an entrepreneur or a corporation must deal with a number of challenges when conducting business.

For the majority of company forms, you must work with a corporate service provider, which can help you avoid many of the challenges that all types of business owners encounter. These issues typically manifest as one or more of the following:

1) Limited expertise & experience

There will always be new rules, procedures, laws, and regulations. Daily inquiry, inspection, and analysis of all of these data are the main objectives of CSP. By engaging in these routine tasks, CSP becomes highly specialised in processing all the necessary documentation in accordance with legal regulations. Do you think it will be as easy to remember, make all the required paperwork, and put into practise as a corporate service provider?

2) Charges for conducting business

Administrative, human resource, financial, and many more diverse responsibilities are necessary for a good business operation. Other costs include those for office and IT supplies, tech subscriptions, and other costs that, unhappily, don’t generate any income for the organisation. CSP covers the majority of the critical roles and responsibilities in an organisation. Consider appointing a single person to each administrative, human resources, and accounting position. Do you think paying these expenses will be less expensive than using a corporate service provider?

3) Short Period

No matter what industry a business is in, it is essential that it invest time in investigation, analysis, and the creation of a strategy to increase sales. Do you think you have enough time to expand your business and generate enough revenue?

8. Why is business consulting important?

It’s a common misperception that big, established companies are the main users of business consulting services. In reality, business consulting is crucial for all sizes of companies. Consultants provide firms with expert advice and understanding on a variety of topics, enhancing corporate operations.

By examining the common roles that management consultants play, let’s get a better understanding of the importance of management consulting for small organisations. We’ll discover that working with a corporate management consultancy has several benefits.

The biggest benefit of hiring a business consultant is their capacity to provide trustworthy ideas for how to advance your firm.

Effective business consulting helps organisations increase productivity and efficiency. The majority of business owners consider consulting with business experts when determining the course their companies should take. The majority of business owners use consultants to identify growth issues, gain understanding of a specific market, increase employee productivity, challenge business paradigms, pinpoint new business goals, train employees, get rid of ineffective business models, revive dormant but lucrative business opportunities, and influence decision-makers. When a consultant joins a company or a client, the first thing they do is learn about their objectives. The consultant then looks for prospects for expansion and prepares plans in that regard.

Offshore Company Formation in Hong Kong

Can a corporate name in English conclude with a word?

Yes. It is understood that “Ltd” and “Limited” are synonymous. Nevertheless, the word “Limited” and not “Ltd” must appear on all documents submitted to or issued by the government. The “Ltd” can only be applied to commercial endeavours.

How can one tell if a company name in Hong Kong is the same as another’s?

In determining whether a company name is the same as another, certain words and their abbreviations will be disregarded: “company” – “and company” – “company limited” – “and company limited” – “limited” – “unlimited” – “public limited company”. The type or cases of letters, spaces between letters, accent marks, and punctuation marks, also will be disregarded.

The following expressions “and” – “&”, “Hongkong” – “Hong Kong” – “HK”, “Far East” – “FE” are respectively to be taken as the same.

We are able support you to check the availability of your proposal Hong Kong company name at a glance.

Which legal entity is most prevalent in Hong Kong?

The most typical sort of entity is a private company limited by shares.

The benefits of being a Hong Kong-based approved charitable institute (ACI)

If the profits are used only for charitable purposes, they are exempt from tax on those profits; and

The earnings are not significantly spent outside of Hong Kong; and either:

The trade or business is carried on in the process of carrying out the institution’s or trust’s stated purposes (for instance, a religious organisation might sell religious tracts); or

For example, a society for the protection of the blind might arrange for the sale of handicraft produced by the blind. The labour associated with the trade or business is mostly carried out by individuals for whose benefit such institution or trust is founded.

Exempt from the requirement to register a business unless a trade or business is being conducted

Upon your request, we will send you an application form to complete with information about your organisation, including its goals, membership fees, membership categories, directors, company secretary, and so on.

The procedures for registering a “company limited by guarantee” are the same as those for registering a “company limited by shares” (the most typical form of business entity for use in Hong Kong).

How can I update my company’s business registration?

Within one working day, Ruihong will assist you in renewing your company’s business registration (BR) and email the updated BR back to you.

What are the prerequisites for forming a Hong Kong private limited company?

In Hong Kong, anyone can form a private limited company. Basic conditions for forming a Hong Kong company include the following:

One shareholder (individual or corporate),
one director (person),
one
One secretary firm
A Hong Kong registered office address (PO boxes are not permitted).

Ruihong will offer a registered office location and secretarial services while serving as your secretary firm. If it’s necessary to preserve your privacy, we can also offer a nominee shareholder and a nominee director.

No minimum share capital is required. Practically speaking, this is typically not less than $10,000 in Hong Kong dollars or its equivalent in another currency. On the approved share capital, a capital duty of 0.1% is due (up to a maximum of HK$ 30,000).

A private limited company must have at least one shareholder and one director, who can be the same person, in order to be established in Hong Kong.

Non-profit organisation: Hong Kong company limited by guarantee

A business limited by guarantee is typically established for purposes such as trusts, foundations, the propagation of religion, education, and other causes. The majority of the institutions created by this structure are not for profit, yet they are also unable to be philanthropic. A nonprofit organisation must have been founded purely for philanthropic purposes in order to qualify as a charity.

We can assist an institution with its application to become an accredited charitable institute (ACI) if it qualifies for any of the following goals.

The alleviation of poverty;
The advancement of religion;
The advancement of education;
Any other charity purpose that benefits the community and does not come under any of the aforementioned categories.

The benefits of joining ACI

not subject to tax
If the profits are used exclusively for charitable purposes, they aren’t significantly spent outside of Hong Kong, and either
the trade or business is exercised in the course of the actual carrying out of the expressed objects of the institution or trust (for instance, a religious body might sell religious tracts),
the work in connection with the trade or business is primarily carried out by people for whose benefit such institution or trust
Exempt from the requirement to register a business unless a trade or business is being conducted

We will send you an application form to fill out with information about your organisation, including its goals, membership fees, membership categories, directors, company secretary, and so on.

The procedures for forming a “company limited by guarantee” (the most typical kind of business entity for conducting business in Hong Kong) are the same as those for creating a “company limited by shares.”

How is the name of offshore company proposed?

In general, the name of an offshore corporation should contain words like “Limited,” “Corporation,” or a shortened version of “Ltd.,” “Corp.”, or “Inc.”

The proposed offshore company name cannot be registered if it is the same as any other company name that is already registered.

Additionally, the word “Bank,” “Insurance,” or other words with a similar meaning normally cannot be used in the firm name.

Offshore Company Formation in Singapore

How to incorporate a company in Singapore?

Among the 60 largest economies in the world, Singapore is one of the top international financial hubs, with the third-most globalised economy and a significant capitalist service sector distinguished by low taxes and free trade. According to the World Bank, Singapore has the best ease of doing business globally. Private limited companies in Singapore are the most common and convenient for foreigners.

The foundation of a Singapore corporation requires a minimum of one Local Director who is a Singaporean citizen. All businesses and bank accounts outside of Singapore are tax-free (Offshore Status).

How to incorporate a company in Singapore?

Step 1 Singapore Private Limited Company Formation (Pte. Ltd), At first, a member of our relationship management team will ask you for specific information on the names and contact details of the shareholders and directors. You can choose the level of services you require, such as standard with 3 working days or urgent with 2 working days. Additionally, please include the firm names in the proposal so that we may verify that they are eligible in the Singapore Corporate Regulatory Authority (ACRA) system. Local Singaporean citizen Local Secretary was one of the services we offered.

Step 2 You settle the payment for Our Service fee and official Singapore Government Fee required.

Step 3 Ruihong will email you a digital copy of the documents (such as the Certificate of Incorporation, Register of Shareholder/Directors, Share Certificate, Memorandum of Association and Articles, etc.) after gathering all the necessary information from you. Full Singapore Offshore Company kit will be delivered by express courier to your home address.

You can open an offshore bank account for your business in Singapore, Europe, Hong Kong, or another supported jurisdiction! You are an offshore corporation operating as freedom international money transfer.

You’ve formed a Singapore Pte. Ltd. and are prepared to conduct international business!

Is Singapore classified as a tax haven?

A lot of people refer to Singapore as an offshore financial centre (OFC). Thus, Singapore offers corporate and financial services to foreign investors on a scale that is excessive given the size of its own economy. Due to its alluring tax incentives, the nation falls under the category of offshore financial centre. Tax exemptions are also provided for companies in several industries, particularly in offshore and international trading, in addition to reduced tax rates.

Another factor that contributed to Singapore’s inclusion on the list of offshore financial centres is banking secrecy. The nation ranks among the top 5 in the Financial Secrecy Index for 2020. It contributes more than 5% of the worldwide market for offshore financial services and has a secrecy score of 65.

Section 47 of the Banking Act, which says that client information shall not, under any circumstances, be shared by a bank or its officers in Singapore to any other organisation save as specified in the Act, imposes a contractual duty of confidentiality on banking transactions conducted in Singapore.

Singapore fits the definition of a tax haven by that standard. It offers financial confidentiality and low “effective” tax rates. Additionally, it is included in surveys of tax havens that reliable international organisations have done.

Singapore is not a bad place to invest just because it is classed as a tax haven. In spite of its reputation as a tax haven, Singapore has established itself as a hub for global commerce.

Which legal entity is most prevalent in Hong Kong?

The most typical sort of entity is a private company limited by shares.

The benefits of being a Hong Kong-based approved charitable institute (ACI)

If the profits are used only for charitable purposes, they are exempt from tax on those profits; and

The earnings are not significantly spent outside of Hong Kong; and either:

The trade or business is carried on in the process of carrying out the institution’s or trust’s stated purposes (for instance, a religious organisation might sell religious tracts); or

Exempt from the requirement to register a business unless a trade or business is being conducted

What Is The Best Investment In Singapore?

Southeast Asian developed nation Singapore. Surprisingly, Singapore boasts a stable political climate and a relatively business-friendly environment. To encourage foreign investment in Singapore, the government has released a number of beneficial measures.

These elements have helped to make the country the one with the most open economy worldwide. Singapore received an index score of 89.7/100 in 2021, placing it first in the Index of Economic Freedom.

As a result, this island country has become a well-known location for significant foreign investments from investors all over the world. The following sectors are some of the best investments in Singapore, according to One IBC:

Manufacturing
Finance service
E-commerce
Wholesale and retail trade
Transportation

What are the requirements for a director in Singapore?

Singapore requires all businesses to have one or more directors. A director is a person who is chosen by the shareholders to oversee the everyday operations of the corporation. The individual is in charge of deciding the company’s operational and strategic priorities as well as making sure the business complies with all legal requirements.

In Singapore, every corporation is required to have one or more directors. The following are the prerequisites for becoming a corporate director in Singapore:

Non-profit organisation: Hong Kong company limited by guarantee

We can assist an institution with its application to become an accredited charitable institute (ACI) if it qualifies for any of the following goals.

The alleviation of poverty;
The advancement of religion;
The advancement of education;
Any other charity purpose that benefits the community and does not come under any of the aforementioned categories.

The benefits of joining ACI

not subject to tax
If the profits are used exclusively for charitable purposes, they aren’t significantly spent outside of Hong Kong, and either
the trade or business is exercised in the course of the actual carrying out of the expressed objects of the institution or trust (for instance, a religious body might sell religious tracts),
the work in connection with the trade or business is primarily carried out by people for whose benefit such institution or trust
Exempt from the requirement to register a business unless a trade or business is being conducted

We will send you an application form to fill out with information about your organisation, including its goals, membership fees, membership categories, directors, company secretary, and so on.

How is the name of offshore company proposed?

In general, the name of an offshore corporation should contain words like “Limited,” “Corporation,” or a shortened version of “Ltd.,” “Corp.”, or “Inc.”

The proposed offshore company name cannot be registered if it is the same as any other company name that is already registered.

Additionally, the word “Bank,” “Insurance,” or other words with a similar meaning normally cannot be used in the firm name.

Offshore Company Formation in Labuan

What is Labuan company tax rate?

3% of Audited Net Profit for trading activities.

No tax for Non-Trading activities.

Is there any requirement to file account for Labuan company?

Only for businesses with a licence and businesses that choose to add 3% tax.

Nevertheless, it is still necessary to maintain accounts that adequately depict the company’s financial situation. Most businesses will typically be obliged to prepare at least management accounts as a result of greater compliance.

Does Labuan Company require Company secretary?

Yes, and at least one of them must be a resident secretary if more than one are chosen.

As a resident secretary, only an authorised officer of a Labuan trust company or its fully owned subsidiary may be chosen.

Is a physical presence in Labuan required for the incorporation of the Labuan Company?

Not necessarily.

Are there any double taxation arrangements in existence for Malaysia?

Yes, 65 nations have signed the country’s double tax treaties.

What is the Labuan entity’s minimal capital requirement?

From US$ 1 onward

Can a Malaysian person set up a business in Labuan?

Both Malaysian or Non Malaysian can be the director & beneficiary of a Labuan company.

Is filing an annual return required in any way?

Yes but it is simple.

Offshore Company Formation in Samoa

What taxes are imposed on foreign businesses in Samoa?

Samoa is a Polynesian island nation that can be found in the South Pacific’s Western Samoa Islands. Samoa, which comprises of 9 islands, is regarded as one of the Pacific Ocean’s most picturesque island nations.

Samoa has a beneficial tax system, particularly for global company. The island nation is among the best locations to set up an offshore corporation thanks to its many alluring business incentives.

The income tax rate for local businesses operating in Samoa is 27% (a decrease from January 2007). Foreign businesses operating there are immune from all income taxes, nevertheless.

For international investors, a number of additional local taxes and levies are also waived, including capital gains tax, stamp duty, dividends, earnings, and interest from sources outside of Samoa.

Samoa’s tax system is intended to promote efficient operations for multinational corporations. The Samoan government also offers numerous financial incentives and advantages to foreign investors. It has several benefits, including:

There are no standards for yearly reporting, accounting, or financial audits.
There is no need for funds while establishing a business.
Government expenses for conducting business are often minimal.
No restrictions on foreign exchange for any currencies
Enforceable asset protection laws
Full-scale social, economic, and political stability

What are the steps involved in registering for a business license in Samoa?

International Business business (IBC) is another name for a Samoa offshore business. The benefits of registering a corporation in Samoa include tax laws, client privacy, and the absence of accounting and auditing requirements.

English is one of the official languages, and administrative flexibility and the lack of financial reporting requirements are further benefits that considerably aid investors and businesses in conducting business. The government consistently promotes trade and investment in Samoa among companies and businesspeople.

A company license can be registered in Samoa in 3 easy steps.

Step 1: License research
All the licenses and permits required for the customer’s business in Samoa are determined by Ruihong. Customers will then get the necessary license or permit application forms from Ruihong. Additionally, Ruihong also provides support for all the information, including instructions, documentation, and other requirements.
Step 2: License filling
Ruihong is still required to list all application requirements for the client’s business license to be filed, regardless of whether the client’s business operates exclusively in Samoa or in numerous jurisdictions.

Ruihong will then complete the forms and make sure all supporting documents are accurate and full. In addition, if necessary, further legal documents must be submitted in addition to the application form.

Ruihong will get in touch with the licensing body as the final phase of this procedure to make sure everything is running well and on schedule.
Step 3: Business license compliance
Thanks to Ruihong’s assistance with additional necessary services through our online web portal and renewal teams, businesses will always feel safe about the timing of their compliance with business rules in Samoa.

What are the tax rates in Samoa?

Samoa has a generally advantageous tax structure to draw companies from all around the world. Here are a few prominent Samoan tax rates:

Samoa income tax rate
The net income that businesses have generated while operating, typically over the course of a single fiscal year, is what determines Samoa income tax or company tax. Corporate tax rates in Samoa are determined as follows:
1. Taxable income under SAT15,000: 0%
2. Taxable income from SAT15,001 to SAT25,000: 20%
3. Taxable income over SAT25,000: 27%
4. Foreign businesses operating in Samoa are immune from corporate tax, nonetheless.
Samoa sales tax
The cost of all goods and services purchased is the basis for the Samoan sales tax rate. Its 15% rate and other names include Value Added Goods and Services Tax (VAGST).
Samoa withholding tax
There are two ways for Samoa to withhold tax from earnings produced by residents and non-residents under a contract for services. It should be noted that this is a direct income tax withdrawn from the contract payer’s progress payments rather than an additional tax. The amount paid is subject to a 10% withholding tax for residents and a 15% withholding tax for non-residents.

Offshore Company Formation in Vanuatu

Is my physical presence required to Formation Vanuatu Company?

No, your physical presence is not required to Form a Vanuatu offshore Company

Should I submit annual returns to the Vanuatu Company Registry for renewal?

Vanuatu businesses are required to file an annual return every year.

You will be charged late costs if your yearly return is not submitted by the due date. Your business will be struck from the register if you go six months without submitting an annual report.

Due to the holiday season, there are no yearly return filing deadlines in December or January.

The deadline to file your company’s annual return will be in November if it was formed in December.
Your filing date will be in February if your business was formed in January.

What is advantages of Vanuatu offshore company?

The benefits of a Vanuatu offshore business include:

– IBCs are tax-exempt in Vanuatu.
– The net chargeable profits of Exempt and International Companies are not subject to domestic taxation.
– Vanuatu is not a party to any agreements preventing double taxation with other nations.
– The holding of yearly general meetings is not needed.
– The filing of annual returns is not necessary.
– The directors of international firms may be of any nationality and may be natural or legal persons.
– Vanuatu does not have exchange controls.

Do I need a Vanuatu address to register a company and open a bank account?

For your business, you require a registered office and a mailing address. The business’s registered office address must be a physical address; it cannot be a PO Box or Private Bag address. This is where company records are housed and where shareholders may view some data. Our incorporation price includes your company’s registered address.

With Vanuatu company, Shareholders or Directors information is Disclosed or not?

No, Vanuatu offshore company do not need to disclose information of Shareholders or Directors.

Offshore Company Formation in Vietnam

If I’m a foreigner, how can I set up a business in Vietnam?

In order to create a business in Vietnam, foreigners are permitted to register their firm.

They can possess 100% of the stock in their company in the majority of sectors. Company registration in Vietnam is only permitted in a joint venture agreement with a Vietnamese individual or corporate stakeholder in a few specific industries.

The experts at Ruihong Vietnam company registration will give you advice on the necessity of a joint venture partner.

An Investor Must Establish a Vietnamese Legal Entity in Order to Execute an Investment Project in Vietnam in WFOE or JV Form.

No, not always. A foreign investor may establish a new legal entity as a wholly foreign-owned enterprise (“WFOE”) or as a joint venture (and contribute capital to this entity); in this case, an investor must apply for both an enterprise registration certificate (“ERC”), formerly known as a business registration certificate (“BRC”), and an investment registration certificate (“IRC”). An existing Vietnamese legal entity may also accept capital contributions from overseas investors without the need for the issue of an IRC or ERC.

Therefore, in the case of foreign investors starting their first project in Vietnam, incorporation of the Vietnamese legal entity occurs concurrently with project licensing. In other words, without a project, a foreign investor cannot create a legal corporation. However, after completing the initial project, an investor is free to undertake other projects either by establishing a new legal business or by continuing to use the existing legal entity.

What is the Corporate Income Tax (CIT) rate in Vietnam?

Vietnam’s regular corporate income tax (CIT) rate is 20%, while businesses engaged in the oil and gas industry will be subject to rates ranging from 32% to 50%;

A Vietnamese firm will be totally immune from taxes when it pays dividends to its corporate owners. Additionally, there won’t be any withholding taxes applied to dividend payments made to foreign company shareholders. The withholding tax for individual stockholders will be 5%;

Withholding taxes of 5% and 10% will be applied to royalties and interest payments made to non-residents of the country, respectively;

Residents are subject to a progressive system of personal income tax, with rates ranging from 5% to 35%. However, the tax is imposed at a flat rate of 20% on non-residents.

Does establishing a business in Vietnam need tax filings?

Within 90 days following the end of the fiscal year, annual corporate income tax returns must be submitted to the General Department of Taxation. However, based on estimations, the business will be obliged to make quarterly income tax payments.

Accounting records must be maintained in Vietnamese Dong, which is the native currency. They may also include a common foreign language, such as English, but they must be written in Vietnamese as well.

The yearly financial accounts of international corporations shall be audited by an auditing firm with its headquarters in Vietnam. 90 days prior to the end of the year, these statements must be submitted to the licencing body, the ministry of finance, the statistics office, and the tax authorities.

What distinguishes the registration of a Vietnamese firm from that of a foreign-owned one?

Opening a capital account in Vietnam is a notable need for foreigners who want to start a new business there. They must utilise this account to deposit the share capital for their firm.

Which legal entities are accessible in Vietnam?

The following Vietnamese legal entities may be chosen by a foreign investor (just like a local investor) to carry out a project:

A Limited Liability Corporation (“LLC”), either a single-member LLC (“SLLC”) or an LLC with two or more members (“MLLC”), up to a maximum of 50.
A Sharing or Joint Stock Company (“JSC”), a business with a minimum of three shareholders but no maximum.
A Limited Liability Partnership or a General Partnership.
A Privately Owned Company (comparable to a Sole Proprietorship).

What aspects ought a foreign investor to take into account when determining whether to pick a JV (partly foreign-owned LLC; the Vietnam Joint Venture Company)?

A foreign investor is most likely to pick a JV for two reasons:

Some business sectors in Vietnam require a JV to establish a commercial presence in Vietnam.
The Vietnamese party has a crucial asset, local know-how and knowledge, or other reasons that make the JV the preferable alternative.

As an illustration, in real estate development projects, the Vietnamese party often holds the land use rights, which are legally prohibited from being given to a foreign investor directly but may be included in a joint venture.

What are the Value Added Tax (VAT) Rates in Vietnam?

Depending on the type of transaction, Vietnam has three different VAT rates: 0%, 5%, and 10%.

Vietnam has a tax rate of 0% on exported goods and services, international transportation, and goods and services exempt from value-added taxes. It also has 0% tax rates on offshore reinsurance, credit provision, capital transfer, and derivative financial services, post and telecommunications services, and exported goods made of raw minerals and other mined resources.

Offshore Company Formation in UK

Do I have to live in the UK to own a company?

To own a limited business, you do not have to be a resident of the UK. A foreigner may own a UK corporation in its entirety.

What kind of business does the UK see the most of?

Without considering some specific sorts of non-standard, there are normally four “standard” categories of businesses in the UK, each of which has its own operations and functions. Companies fall into many types based on how they are run, who owns them, and how much liability they carry. Companies of the following sorts are frequently found in the UK:

Public limited company (PLC)
Company Limited by Guarantee (CLG)
Unlimited Company (Unltd)
Private Company Limited by Shares (LTD)
Limited Liability Partnership (LLP)
Community Interest Company (CIC)
Royal Charter (RC)
Sole Trader

Public limited companies (PLCs), one of these, are regarded as the most prevalent kind of business in the UK. PLCs are constrained by shares, although the companies can sell shares to the public, typically through a stock exchange. Their members’ liability is only capped at the outstanding share capital because they have a share capital.

In order to formally launch a business, you must have share capital of at least £50,000 and at least 25% pre-paid in order to become a PLC in the UK. The minimum number of directors and company secretaries for PLCs is two.

Because PLCs have the potential to list in the future and can generate money by issuing public shares, they are the most prevalent type of company in the UK.

What is a Company Secretary?

Typically, a Company Secretary is designated to handle a portion of the executive’s responsibilities, such as maintaining and preserving statutory registers and organisation documents.

Additionally, the Company Secretary will provide you a company address.

What is difference Virtual Office address and Registration Address Services with my company?

Only local government authorities relevant to your registration, annual return, and tax return (if any for some jurisdictions) will mail to your registered address.

With a virtual address service, your business can have a local address, receive mail there, and occasionally even have a local phone number, which in some situations can give your business more legitimacy.

Can I transfer my UK limited company to another nation?

The UK only permits your company to expand outside of the country after it has shut down. If you are not familiar with the rules of the new country, the process could take a while.

To expedite the procedure and save unnecessary costs, we advise using our corporate services. With the aid of our company strike-off and formation services, we may assist you in relocating your active UK limited company to another nation.

Internationally active businesses are nonetheless subject to UK tax laws.

However, your company can benefit from exemption from UK tax on international profits as well as UK and foreign capital gains if you relocate your UK limited company to a different nation with more benevolent tax policies.

The typical strategy used by enterprises is to select a jurisdiction with low or no taxes. Although Modern’s Voluntary Liquidation (MVL), an existing procedure to support the environmental and tax difficulties, exists. Based on your limited company’s assets, it operates and then offers you the chance to keep thousands of pounds through potential solutions.

How can I start an offshore company in the UK? | LLP or Private/Public Limited

Step 1 Initial UK Offshore Company Formation You will be required to give the names and contact information for each shareholder and director to our relationship managers team. You can choose whether you want standard services that take two working days or urgent services that take one working day. Additionally, please include the firm names in the proposal so that we may verify that they are eligible in the firm House system.

Step 2 You make the necessary payments for the official UK Government Fee and Our Service Fee.

Step 3 Ruihong will email you a digital copy of the documents you requested (such as the Certificate of Incorporation, Register of Shareholder/Directors, Share Certificate, Memorandum of Association and Articles, etc.) after receiving all of your information. Full UK Offshore Company kit will be delivered by express courier to your residential address.

You can open an offshore bank account for your business in Europe, Hong Kong, Singapore, or another supported jurisdiction!

How can I prevent my name from appearing if I don’t want it to?

Ruihong can also provide a nominee director and a nominee shareholder to protect your privacy.

Nominee non-beneficiary, non-executive and just name only on paperwork.

Offshore Company Formation in Malta

EU Compliant Tax Regime

By allowing residents and non-residents alike to file tax refund claims, Malta implemented the final changes to its business tax system in 2007 to eliminate the last vestiges of positive tax discrimination.

At this time, additional characteristics that make Malta a more desirable location for tax planning were also adopted, such as the participation exemption.

Malta has amended its tax rules over the years and will continue to do so in order to bring them into compliance with various OECD and EU directives, providing a desirable, aggressive, and fully compliant tax system.

Malta Company Law Aspects

Capital Requirements
20% of the issued share capital, or €1,164.69, must be paid up at incorporation for a private business. The denominator of this capital may be any foreign currency that is convertible. A factor that removes foreign exchange concerns is the fact that the chosen currency will also serve as the company’s reporting currency, the currency in which tax is paid, and the currency in which any due tax return is received. Maltese company law also permits the formation of businesses with changeable share capitals.

Shareholders
Despite the fact that businesses are typically formed with multiple shareholders, a single member corporation can also be formed. Shares may be held by a variety of parties, including people, corporations, trusts, and foundations. An alternative is for a trust corporation to hold the shares in the beneficiaries’ best interests.

Objectives
A private limited corporation may have any number of objectives, but these objectives must be listed in the memorandum of association. A primary objective must also be specified for a Private Exempt Limited Company.

Directors and Secretary in Malta company
The qualifications for directors and the company secretary vary between private and public corporations. A public corporation must have a minimum of two directors, whereas private companies are only required to have one. A body corporate may also function as a director. A corporate secretary is required for any business. In Malta, a company secretary must be an individual, albeit a director may also serve in that capacity. A lone director may also serve as the company secretary in the case of a private exempt business based in Malta.

It is essential to appoint Malta resident directors even though there are no legal requirements regarding their residency or that of the company secretary because doing so ensures that the company is efficiently run in Malta. For client companies managed by us, our professionals are qualified to serve as officers or make recommendations for officers.

Confidentiality
Professional practitioners are required to uphold the strict standards of confidentiality outlined in the Professional Secrecy Act. These professionals include, among others, lawyers, notaries, accountants, auditors, trustees, and executives of nominee companies. Professionals who divulge trade secrets may be subject to a maximum punishment of € 46,587.47 and/or a 2-year prison sentence, according to Section 257 of the Maltese Criminal Code.

Meetings
Malta law mandates that firms hold at least one annual general meeting and that there cannot be a delay of more than 15 months between one annual general meeting and the next. A firm is not required to hold another general meeting in the year of registration or the year after convening its first annual general meeting.

Formation Method
The memorandum and articles of organisation must be submitted to the Registrar of Companies together with proof that the company’s paid-up share capital has been placed in a bank account in order to register a business. A registration certificate will then be given out.

Incorporating Time-Scale
When all necessary information, documents for conducting due diligence, and payment have been sent, the incorporation process for Malta firms can be completed in 3 to 5 days. A corporation can be registered in about 24 hours for an extra cost.

Accounting Year & Accounting
International Financial Reporting Standards (IFRSs) must be followed while creating yearly audited financial accounts. These documents must be submitted to the Registry of Companies for public inspection. Alternately, Maltese law has the option of selecting a financial year end.

Double taxation agreements in Malta: Efficient system

Malta-based businesses could profit from:

Unconditional relief, including a credit mechanism for underlying tax relief
Network for Double Tax Treaties
System of FRFTC (Flat Rate Foreign Tax Credits) Unilateral Relief

Unilateral Relief
The unilateral relief mechanism turns Malta into a virtual double tax treaty with a wide number of other nations, allowing for a tax credit in situations where foreign tax has been paid, whether or not Malta has a double tax treaty with that jurisdiction. To be eligible for unilateral relief, a taxpayer must demonstrate to the Commissioner’s satisfaction that:

that the income arose overseas;
that the income suffered foreign tax; and
the amount of foreign tax suffered.

The loss of the foreign tax will be made up for by a credit against the tax due in Malta on the gross chargeable income. The credit cannot be greater than Malta’s overall tax obligation on the foreign-sourced income.

Tax Treaty Network, based in the OECD
Malta has ratified more than 70 double taxation treaties to far. The majority of agreements, including those made with other EU members, are based on the OECD model.

Directive on EU Parent and Subsidiaries
The EU Parent-Subsidiary Directive, which prohibits the cross-border transfer of dividends from subsidiary to parent firms within the EU, has been accepted by Malta as an EU member state.

Directive on Interest and Royalties
According to the Interest and Royalties Directive, interest and royalties paid to a firm in a member state are free from taxation in the member state where they were earned.

Taking Part Exemption
Malta holding companies are allowed to be set up such that they can hold stock in other businesses, and these participations in other businesses count as participating holdings. Holding The following companies may qualify for this participating exemption based on participating holding rules for dividends from such holdings and gains realised on the sale of such assets if they satisfy either of the following requirements:

a company holds directly a minimum of 5% of the equity shares of a company whose capital is completely or partly divided into shares, which holding confers an entitlement to at least 5% of any two of the following (“Equity holding rights”)
- right to vote;
- profits available for distribution; and
- assets available for distribution on a winding up; or
a company is an equity shareholder in a company, therefore it is entitled to call for and acquire the entire balance of the equity shares not held by that equity shareholder company to the extent permitted by the law of the country in which the equity shares are held; or
a company is an equity shareholder in a company, therefore it is entitled to first refusal in the event of the proposed disposal, redemption, or cancellation of all the equity shares of that company not held by that equity shareholder company; or
a company is an equity shareholder in a company and is entitled to either sit on the Board or appoint a person to sit on the Board of that company as a director; or
a company is an equity shareholder which holds an investment representing a minimum total value of €1,164,000 or its equivalent in a foreign currency, as on the date or dates on which it was acquired, in a company and that holding in a company must be held for an interrupted period of a minimum of 183 days; or
a company is an equity shareholder in a company and where the holding of such shares is for the furtherance of its own business and the holding is not held as trading stock for the purpose of trade.
Equity shares deal with the holding of the share capital in a company which is not a property company and which entitles the shareholder to at least any two of the following three years: the right to vote, the right to profits available for distribution to shareholders and the right to assets available for distribution on a winding up of the company.

Participation exemption can also apply to holdings in other entities which could be a Maltese limited partnership, a non resident body of persons with similar characteristics, and even a collective investment vehicle where the liability of the investors is limited, as long as a holding satisfies the criteria for the exemption outlined below:

it is resident or incorporated in the EU;
it is subject to any foreign tax at a rate of at least 15%; or
less than 50% of its income is derived from passive interest or royalties.

The above are the safe harbours set. In cases where the company in which the participating holding is held does not fall within one of the aforementioned safe harbours, the income which is derived therefore may nevertheless be exempt from tax in Malta if both the conditions below are satisfied:

the equity shares held in the non-resident company must not represent a portfolio investment; and
the non-resident company or its passive interest or royalties have been subject to tax at a rate which is not less than 5%

Flat Rate Foreign Tax Credit
Companies which are receiving overseas income may benefit from the FRTC, provided that they provide an auditor’s certificate stating that the income arose overseas. The FRFTC mechanism assumes a foreign tax suffered of 25%. A 35% tax is imposed on the company’s net income grossed up by 25% FRFTC, with the 25% credit being applied against the Malta tax due.

Advance tax rulings

To ensure clarity regarding the application of domestic tax law to a particular transaction, it is permissible to request a formal ruling in certain circumstances that are set down by law.

These decisions are often made within 30 days of an application and are legally binding for the Inland Revenue for five years as well as two years after a change in the law. A letter of guidance may be provided through an unofficial system of Revenue feedback.

Malta Corporate vehicles

Malta offers various forms of partnerships and limited liability companies:

Public (plc);
Private (Ltd). Partnerships
en commandite the capital of which is divided into shares
en commandite the capital of which is not divided into shares;
en nom collectif

Malta Company Tax System

According to Maltese law, refunds must be paid within 14 days of the day they become due, which occurs when the firm and shareholders have submitted a complete and accurate tax return, the tax is entirely paid, and a complete and accurate refund claim has been completed.

Refunds of taxes paid on income earned directly or indirectly from immovable property are never eligible for claim.

A full refund
Shareholders may request a complete refund of the tax paid by the company, resulting in an effective combined tax rate of zero, with regard to:

Gains or income are earned from an investment that meets the criteria for a Participating Holding.
In the case of dividend income, if such a Participating Holding complies with the anti-abuse rules or comes under one of the safe harbours.

5/7ths of the refund
In two situations, a 5/7 return is granted:

Whether the income is passive interest or royalties;
In situations where the income is derived from a participating holding and does not meet the safe harbours or anti-abuse requirements.

2/3 of the refund
A shareholder’s double taxation relief claim is only eligible for a 2/3 refund of the Malta tax paid on any foreign income received by a Malta firm.

The 6/7ths refund
If shareholders get dividends from sources other than those above stated, they are then eligible to request a return of 6/7ths of the Malta tax that the firm has already paid. Shareholders will profit from a Malta tax rate that is effective at 5% as a result.

No other taxes from the Malta company

There are no withholding taxes on the distribution of dividends to shareholders;
No taxes or restrictions on the distribution of the dividends from the Malta company;
Tax is paid and refund is received in same currency of company’s share capital.
No withholding taxes on interest and royalties to non-residents;
No capital duties;
No wealth taxes;

Compliance with EU Law

Malta has implemented all relevant EU directives pertaining to company taxation as a member of the EU, notably the Interest and Royalties Directive and the EU Parent-Subsidiary Directive.

This completely complies with EU legislation and further harmonises Maltese law with the laws of all other member states, making Malta’s corporate legal framework.

Offshore Company Formation in Netherlands

What does BV mean in Netherlands?

A public LLC, also known as Naamloze Venootschap, abbreviated as NV, and a private LLC, also known as Besloten Vennootschap, abbreviated as BV, are the two alternatives available for creating an LLC in the Netherlands.

The NV and the BV both stand for different legal entities.

Are government approvals required for BV registration applications?

According to the current Dutch legislation, no approval from the government is required for the official formation of a private LLC.

What duties, if any, are performed by the Supervisory Directors?

The Board of Supervisors cannot act on behalf of the LLC since it lacks executive authority. Its duties include keeping an eye on how the Managing Board is conducting business and the overall direction the company is headed. It also supports the Management’s efforts and always acts in the LLC’s best interests. In this regard, the AoA has the authority to request the Board of

Those in charge of specific transactions. A Dutch LLC can be incorporated without having to create a board of supervisors. It is more of a tool that the Shareholders can utilise to keep an eye on the Managing Board’s activities.

What does the Incorporation Deed represent?

A Latin Notary witnesses the completion of an Incorporation Deed by a minimum of one incorporator to create a Dutch LLC. The new LLC’s constitution, which is governed by company law, is contained in the Deed. It is applicable to all aspects of the newly founded company’s activities and must cover all entity procedures.

The AoA that contains the following information is included in the Dutch incorporation deed:

Company name;
Registered office,
Purpose and range of activities;
Amount of authorized capital, stated value and share class;
Financial year;
Managing directors’ authority;
Appointment of a Board of Supervisors;
Any limitation on the transfer and issue of shares;
Other relevant rules with respect to organization of meetings and adoption of resolutions. The Incorporation Deed can be executed only when certified by the Latin Notary.

Are there any other differences between BVs and NVs, besides that one of them is private and the other public?

There are significant changes between the entities, but the standards for BVs and NVs are essentially the same. The following lists the key ones:

a) Only NVs are permitted to issue bearer shares.
b) Shares can only be listed on the Exchange Market by NVs.
c) For NVs, a minimum of 45 000 EUR in share capital must be issued and deposited. There is no established minimum for BVs.
d) On the condition that a single share with the ability to vote is owned by a third party, NVs can buy back one-tenth of the issued share capital whereas BVs can buy back the entire capital.

Are there any requirements regarding BV structure?

Dutch LLCs are required to have a minimum of one shareholder and one managing director. It is not required that Supervisors represent Shareholders on the company’s Managing Board.

What role does the Managing Director play?

The director of a limited liability company founded in the Netherlands is not required to be a citizen or resident of the nation.

The duties of a managing director can even be carried out by other organisations. The LLC’s administration and management, everyday operations, and business affairs are handled by the Managing Board (consisting of at least one Director). The LLC is represented by the Managing Board.

The Articles / Memorandum of Association (AoA / MoA) must state whether the Dutch LLC can be represented individually by each member or whether joint action is necessary in the event that the Board has multiple members. Regardless of how the Directors are assigned duties and responsibilities, they are all generally personally responsible for the debts of the firm.

Does the incorporation of BV require the existence of Shareholders?

Yes, at least one Shareholder is needed to establish a BV. The Shareholder is the actual owner of the company.

Offshore Company Formation in India

Can a Private Limited Company suitably make FDI in India?

Well, absolutely appropriate! Private limited companies are a very common type of business company among foreign investors for making direct foreign investment (subject to FDI Guidelines)[1] in any region, through a wholly-owned subsidiary, a joint venture, and so on

Is a foreign entity allowed to be Director or shareholder of the private limited company in India?

Yes, any foreign nationals, entity or an NRI can become a director or shareholder of a private limited company in India.

What is a Private Limited Company?

A private limited company, as the name implies, is a privately owned corporate firm. It is owned by private stakeholders. In a private limited company, the liability arrangement is similar to that of a limited partnership, with a shareholder’s liability limited to the number of shares owned. The lenders cannot be found accountable for more than the value of their shares. The governing body for such a company is the Ministry of Corporate Affairs (MCA).

Section 2 (68) of the Companies Act, 2013 defines a private company as:

“A Company having a minimum paid-up share capital as may be prescribed, and which by its articles,— (i) restricts the right to transfer its shares; (ii) except in case of One Person Company, limits the number of its members to two hundred; (iii) prohibits any invitation to the public to subscribe for any securities of the company.”

What is a Public Limited Company?

Can NRIs/Foreign Nationals be a Director in Public Limited Company

Yes, after receiving Director Identification Number, NRI or Foreign National can become Director of the Public Limited Company. However, at least one director on the board of directors must be a resident of India.

Whether a foreign LLP can establish a place of business in India?

Foreign LLPs can open a branch in India by filing Form 27, which includes the specifics of the foreign LLP’s incorporation, the names of its directors and associates, and the names of at least two approved members in order to comply with the LLP Act’s regulations.

What are the provisions for reservation of name by a foreign entity under the LLP Act in India?

Through submitting an application in eForm 25, a foreign company may request the reservation of its name or the renewal of a previously reserved name.
The name will be reserved in the scheme for three years, and an application for name renewal must be filed before the three-year term expires. In the event of a name renewal, the name may be reserved for a further three years after renewal date.

What are the documents required to be filed by a LLP annually?

Annually, LLPs must file LLP Form 8 (Statement of Account & Solvency) and LLP Form 11 (Annual Return). The ‘Annual Return’ must be filed within 60 days of the end of the fiscal year, and the ‘Statement of Accounts & Solvency’ must be filed within 30 days of the end of the six-month period of the fiscal year to which it applies. Any LLP is required to keep a consistent fiscal year ending on 31st March of a year.

Offshore Company Formation in Switzerland

How to open a company in Switzerland? – Offshore Company Formation

Switzerland is a well regarded nation with a low corporate income tax rate of about 8,5% (Federal tax), making it simple to expand your business there. Holding corporations are excluded from paying taxes on capital gains income, and if your company has offshore status, no withholding tax is required when a Swiss company pays you for commercial interest, including loans from foreign shareholders. At least one director must reside in a Swiss corporation.

Step 1 Initial Switzerland Offshore Company Formation You will be required to give the names and contact information for each shareholder and director, as requested by our relationship managers team. You can choose the level of services you require, such as standard with 9 working days or urgent with 5 working days. Additionally, please include the names of the proposed companies so that we can determine whether they are eligible to use them in the Swiss Business Register system.

Step 2 You settle the payment for Our Service fee and official Switzerland Government Fee required.

Step 3

Ruihong will transmit you a digital copy of the documents (such as the Certificate of Incorporation in Switzerland, the Register of Shareholder/Directors, the Share Certificate, the Memorandum of Association and Articles, etc.) after receiving your complete information. The whole Switzerland Offshore Company kit will be sent by express courier to your home address (e.g., TNT, DHL, UPS).

You can open an offshore bank account for your business in Europe, Hong Kong, Singapore, or another supported jurisdiction! You are an offshore corporation operating as freedom international money transfer.

Starting a company in Switzerland – What regulations should I know

The shareholders of every GmbH and publicly traded AG must be made public;
Anti-trust laws forbid Swiss-based businesses from signing agreements that create cartels or monopolies;
It is necessary to seek approval for M&A concerns;
Switzerland requires that the majority of a Swiss AG’s board members either be residents or citizens;
Only if the entire share capital (US$ 110,000) is paid up can a Swiss AG issue bearer shares. Bearer shares cannot be issued by a Switzerland LLC (GmbH);
In addition to paying payroll taxes for foreign workers who do not have a permanent address in the nation, Swiss resident enterprises are required to ensure that an annual general meeting (AGM) is held within six months of the year’s end.

What are the most frequent legal forms?

Swiss business entities: The most common legal documents are:

Investors typically create Limited Liability Companies (GmbH or S.A.R.L.) in Switzerland when they establish small- and medium-sized businesses that cannot be listed on the Swiss stock exchange. The shareholders of this sort of corporation must be identified in the corporate records and declared in the Commercial Register. The S.A.R.L. must have a minimum share capital of 20,000 CHF to be formed.
The Corporation (AG or SA) is a common company structure since it may be utilised for all business objectives and has straightforward share transfer requirements. Unlike the S.A.R.L., the stockholders are not required to disclose their identities and have limited responsibility. The minimum share capital requirement for a corporation is higher than for a limited liability business.

What are the Corporate tax in Switzerland?

In Switzerland, corporate taxes are levied at two levels: federal level and cantonal/communal level;

Federal tax is charged at 8.5% on profit after tax.
- At cantonal level, profits are taxed at varying rates between 6% to 21%, depending on individual cantons;
- Consequently, the effective corporate tax is typically between 12% to 24%;
Non – resident companies are subjected to corporate tax on income generated in Switzerland if
- i). they are partners of a business in Switzerland
- ii). have permanent establishments or branches in Switzerland and/or
- iii). own local property;
Switzerland holding companies enjoy tax exemptions at cantonal/communal level, and pay a tax of only 7.8%.

Offshore Company Formation in Cyprus

What are the benefits of incorporating in Cyprus?

Due to its favourable tax structure, Cyprus is regarded as one of the most alluring jurisdictions in Europe to establish a limited liability corporation. Cyprus holding businesses benefit from all that the low tax jurisdiction has to offer, including full exemption from tax on dividend income, a corporation tax rate of just 12.5%, no withholding tax on dividends paid to non-residents, and no capital gains tax.

Cyprus also has other benefits, such as its corporate laws’ English Companies Act-based foundation and compliance with EU directives, affordable formation costs, and a seamless incorporation procedure.

What is the procedure of incorporating in Cyprus?

The name under which the business is planned to be incorporated must be approved by the Registrar of Companies before any additional actions are conducted.

The required paperwork must be created and filed after the name has been approved. The articles of incorporation, the memorandum of association, the registered address, the directors, and the secretary are examples of such documents.

What is the Memorandum and Articles of Association Cyprus?

Each Cyprus Company is required to have its own articles of association and memorandum.

The memorandum includes the company’s fundamental details, like its name, registration office, goals, and so forth. The first few object clauses must be carefully crafted to reflect the unique conditions, primary business objectives, and activities of the corporation.

The articles set forth standards for the internal management of the company’s governance as well as guidelines for member rights (such as the appointment and authority of directors and the transfer of shares).

What is the minimum number of directors and shareholders, and who can be one?

Under Cyprus Law, every company limited by shared must have a minimum of one director, one secretary and one shareholder.

From a tax planning point of view, it is often required that the company is shown to be managed and controlled in Cyprus and, accordingly, it is recommended that the majority of the directors appointed are Cyprus residents.

How much does it cost to set up a limited company in Cyprus?

To reach the EU market, establishing a limited business in Cyprus is a fantastic, economical solution. The question that follows is, “How much does it cost to set up a company in Cyprus?” With the following commitments, establishing a limited company in Cyprus with One IBC only costs US$1,599 in total, and the renewal charge for the second year is only US$1499: simple method 14 working days maximum 100% rate of success Quick, simple, and very secure Dedicated assistance 24/7 A limited corporation in Cyprus would be a good choice for the following industries: Joint Stock Company for Asset Management International trade being a property owner We hope the information in the aforementioned response helped you understand how much it costs to start a business in Cyprus. To learn more about our whole package service (registration office, secretarial service, etc.), please get in touch with us.

What are “corporate documents”?

It is advised to make sure that copies of all corporate documents are given to the company’s beneficial owners or other necessary officials upon incorporation. These corporate documents typically include:

Certificate of Incorporation
Memorandum of Association
Articles of Association
A share certificate

What are the share capital requirements?

There is no legal requirement as to the minimum or maximum share capital of the company.

What information is required for each shareholder and /or beneficial owner and director?

Full name, date of birth, nationality, residential address, utility bill as proof of residential address, or, for CIS countries, a passport with an entry stamp, are required information for shareholders. Occupation, a passport copy, shares that must be held.

Full name, birthdate, and place of birth for directors Nationality, Address proofs include utility bills, passports with CIS country registration stamps, and utility bills. Occupation, a passport copy, Address on file.

The following director/shareholder documentation should be provided by email.

Scan in color of notarized valid Passport
Scan of notarized Proof of Personal Address
Bank Reference Letter
CV

Following the completion of our KYC procedure and the absence of any additional inquiries from the Cyprus Registrar, the incorporation process will take 5-7 working days. As a last step, we require that you provide a notarized copy of each of the aforementioned documents to Cyprus for our records.

Without disclosing the owners’ identities to the public, nominees may hold the shares in trust for the beneficial owners.

Offshore Company Formation in Gibraltar

Do I have to live in the UK to own a company?

To own a limited business, you do not have to be a resident of the UK. A foreigner may own a UK corporation in its entirety.

What kind of business does the UK see the most of?

Public limited company (PLC)
Company Limited by Guarantee (CLG)
Unlimited Company (Unltd)
Private Company Limited by Shares (LTD)
Limited Liability Partnership (LLP)
Community Interest Company (CIC)
Royal Charter (RC)
Sole Trader

Because PLCs have the potential to list in the future and can generate money by issuing public shares, they are the most prevalent type of company in the UK.

What is a Company Secretary?

Typically, a Company Secretary is designated to handle a portion of the executive’s responsibilities, such as maintaining and preserving statutory registers and organisation documents.

Additionally, the Company Secretary will provide you a company address.

What is difference Virtual Office address and Registration Address Services with my company?

Only local government authorities relevant to your registration, annual return, and tax return (if any for some jurisdictions) will mail to your registered address.

Can I transfer my UK limited company to another nation?

The UK only permits your company to expand outside of the country after it has shut down. If you are not familiar with the rules of the new country, the process could take a while.

Internationally active businesses are nonetheless subject to UK tax laws.

How can I start an offshore company in the UK? | LLP or Private/Public Limited

Step 2 You make the necessary payments for the official UK Government Fee and Our Service Fee.

You can open an offshore bank account for your business in Europe, Hong Kong, Singapore, or another supported jurisdiction!

How can I prevent my name from appearing if I don’t want it to?

Ruihong can also provide a nominee director and a nominee shareholder to protect your privacy.

Nominee non-beneficiary, non-executive and just name only on paperwork.

Offshore Company Formation in BVI

Once a BVI business has been incorporated, when should it make arrangements for its yearly renewal?

BVI companies that were incorporated in June or earlier need to be renewed before May 31 every year to maintain their legitimacy.

In contrast, a BVI corporation formed from July to December can have its charter renewed by November 30 of each year.

Is the company taxed on profit?

A BVI company is exempted from all local taxes

Does BVI company need to file Register of Directors?

It is mandatory for a Register of Directors to be kept at the BVI registered office.

There is no need to file the Register of Directors with the Registrar.

Does BVI Company need Registered Office and Registered Agent?

A company shall, at all times, have a registered office and agent in the Virgin Islands.

Is there any other compliance rule for BVI company?

Basically, a BVI business is not obliged to submit any other type of yearly return or financial statements to the BVI government, except from the annual renewal of the BVI company. This has substantially increased the convenience of maintaining a BVI company.

Does the company have to file accounts or a financial statement?

There is no requirement to file accounts or a financial statement

Does the business need to keep financial records in the BVI?

The business is exempt from keeping records in the BVI. Records can be preserved everywhere in the world if the company decides to do so.

How to incorporate a BVI offshore company with bank account?

The BVI Business Companies Act of 2004 states that BVI Business Company (BC) is completely tax-exempt. Once the offshore has been established, there is no need to file accounts or submit yearly reports. Since BVI is not a signatory to any double taxation agreements, there is increased protection from financial investigations. The law protects the offshore corporation, the shareholder, and the director’s confidentiality.

Step 1 Initial BVI offshore company incorporation You will be required to give the names and contact information for each shareholder and director, as requested by our relationship managers team. You can choose the level of services you require, such as standard with 3 working days or urgent with 2 working days. Additionally, please include the names of the proposed companies so that we can verify that they are eligible in the BVI’s Registrar of Corporate Affairs system.

Step 2 You settle the payment for Our Service fee and official BVI Government Fee required.

Step 3

Offshore Company Corp will email you a digital copy of the documents (such as the Certificate of Incorporation in the BVI, the Register of Shareholder/Directors, the Share Certificate, the Memorandum of Association and Articles, etc.) after receiving your complete information. Full BVI Offshore Company kit will be sent by express courier to your residence (e.g., TNT, DHL, UPS).

You can open an offshore bank account for a BVI corporation in Singapore, Hong Kong, or any other supported country! You are an offshore corporation operating as freedom international money transfer.

Offshore Company Formation in Belize

How do I register a business name in Belize?

The first step in starting a business is registering a business name in Belize. Since your company name serves as a means of identification for your target markets, protecting it is crucial. The Belize Company and Corporate Affairs Registry (BCCAR) will handle this responsibility. Please get in touch with Ruihong by phone or email so that we can assist you with the registration of your business name in Belize.

Step 1 Ruihong will perform a company name search to ensure that your business name is distinct and legal in Belize. Your order should include three suggested names.

Step 2 Making a payment to Ruihong is the next action. Ensure that you have ordered all the services you require.

Step 3 The required documents to register a business name in Belize must be filled accurately. The checklist of required documents is as follows:

Registration of a company with and without Liability
Overseas Registration
Business Name Registration
Limited Liability Partnership Registration

Step 4 Your original documents will be delivered to BCCAR via Ruihong. Throughout the registration of your business name in Belize, we keep you informed.

How do I get a business license in Belize?

Get the appropriate business licence for your organisation before conducting business in Belize. There are two primary categories of Belizean licences that you should be familiar with:

Belize trade licence
Businesses in Belize that offer any form of service or good are required to hold a trade licence. The local city or town council is where you can register the licence. In Belize, trade licence costs are broken down into different categories and calculated based on the property’s annual rental value. For instance, a 3.5% tax applies to supermarkets, grocery stores, furniture stores, and repair shops. There is a 5% tax for hardware stores, petrol stations and dental services. The highest rate is 25% for companies that operate monopolies or casino operations.
Financial licence for Belize
You need a Belize financial licence if your company conducts business in the field of international financial services in Belize or from within Belize. The licence is issued by the FSC, or Belize Financial Service Commission. There are 13 different types of financial licences available in Belize, with services including accounting, payment processing, money transmission, and international asset management standing out.

What is the Belize Income and Business Tax Act (IBTA)?

International business entities (IBCs) in Belize are no longer free from taxes as of January 1, 2019. These IBCs are governed by the Income and firm Tax Act (IBTA) of Belize, just like a domestic firm would be.

Belize has a dual taxation system under IBTA. Businesses are subject to two different types of taxes:
Belize corporate income tax (CIT) is calculated on chargeable income, while Belize business tax (the VAT counterpart) is based on gross income or turnover.

The standard income tax rate in Belize is 25%.

Should I register a business name in Belize?

Belize is a well-known offshore jurisdiction with the following benefits:

Profit, dividends, added value, and interest are all tax-free.
There are no limitations on where company directors and owners can live.
There are no standards for financial reporting or auditing.
Disclosure of shareholder and owner information.
There is no currency restriction in Belize.
An English law foundation serves as the governing law.
Since FATF and OECD do not impose sanctions on Belize, it is one of the offshore jurisdictions on the “white list.”
In general, Belize is a suitable jurisdiction in which to set up an offshore business.

Ruihong hence strongly advises learning how to register a business name in Belize before beginning business operations there.

What is the Belize income tax rate for Offshore Companies?

The following rates of Belizean income tax are applicable to Offshore Companies:

Businesses with gross receipts of more exceeding BZD 3 million must pay 1.75% of chargeable income.
Businesses with gross receipts of less than BZD 3 million will be charged 3% of chargeable income.
Surprisingly, if an offshore company’s income comes from trade or business outside of Belize, it is not required to pay Belize income tax.

With the exception of businesses involved in the production of petroleum, no income tax will be required on chargeable income as of January 1, 2020, following the IBTA amendment from December 2019.

Offshore Company Formation in Cayman Islands

How long does it take to form a Cayman Islands exempted company?

After completing The Compliance’s criteria. The Registrar of Companies receives the incorporation papers that are submitted by the exempted company. Within 4-6 working days following filing, the Registrar of Companies will provide a Certificate of Incorporation.

What are the requirements for KYC documents in the Cayman Islands?

Certified copies of the entity’s charter documents and registers (if appropriate) are needed. Individuals must provide identification documentation, address verification, and a letter of recommendation from a reputable source.

A lawyer’s certification or a notary public’s notarization can be applied to a passport or utility bill.
For address verification, a recent English utility bill from the previous three months or a bank statement will do. If it isn’t in English, you’ll need to get a certified translation.
A professional (such as a lawyer, a CPA, or a banker) may provide a reference letter. The referee must have known the person for at least two (2) years.

Does such a company need to have local directors or shareholders?

It is not necessary to have local directors and shareholders for setting up a Cayman Islands exempted company. The entity should have at least one director in the company

Do I have to pay the share capital to set up a company?

The usual authorized share capital is US$ 50000 with par value US$ 1. There is no minimum paid up required to set up the company.

What is the advantage of registering in Cayman as opposed to another jurisdiction, for example BVI/Belize/Seychelles

Regarding the perception of the industry, the Cayman Islands have an advantage.

Local professional firms have a plethora of experience.

The jurisdiction is so developed that you may be sure to find the expertise for the majority of financial company operations.

Will the business’s information be made public?

The Registrar must be informed of the company’s beneficial owner’s details, but it must never be made public. Nobody will be able to access your private information.

Is Cayman Islands a tax free country?

The Cayman Island operate an alternative tax regime. There is no income tax, company or corporation tax, inheritance tax, capital gains or gift tax in the Cayman Islands.

Are there any accounting or auditing requirements for a Cayman Islands company?

In the Cayman Islands, yearly returns must be filed.

Corporations are not required to disclose financial documents with their yearly filings, nevertheless. Corporations are not required to disclose financial documents with their yearly filings, nevertheless.

Offshore Company Formation in Anguilla

Should a registered office and registered agent be required for an Anguilla Offshore Company?

An Anguilla Registered Office and an Anguilla Registered Agent are requirements for all international business Companies (IBCs) there. The company’s directors, shareholders, articles of incorporation, comprehensive financial documents, and company seal must all be stored at your Anguilla registered office in accordance with government rules. According to Anguilla’s confidentiality laws, all of your company’s records and financial information are kept private and confidential.

Additionally, in order to function in Anguilla and remain registered on the island, all IBCs must have a registered office there. In order to prevent instances of illegal practise, the individual supplying your company’s office must also have the required licence.

Your business must modify its previously registered headquarters and contact the Anguilla Registry right away if your Anguilla Registered Office provider no longer maintains the requisite licence.

An Anguilla Registered Agent who is in charge of signing and filing the Articles of Incorporation on behalf of your IBC must adhere to the following rules established by the Anguilla government:

over the age of 18.
must be free of any criminal history.
The financial situation cannot be “bankrupt.”

Can Anguilla Offshore Company’s annual general meeting be held anywhere?

Yes. Anywhere in the world, at any time, and whatever the company chooses, either annual general meeting may be convened. The procedures for a shareholder meeting may differ depending on the jurisdiction in which the firm is incorporated. For both public and private companies, these are often stated in the laws of incorporation, memoranda, and articles of association. These regulations may specify things like how to vote by proxy or how many days in advance shareholders must be advised of an impending shareholder meeting.

When a company is incorporated in Anguilla, the first shareholder and director meeting should take place. The format for future sessions can be freely decided upon at these initial meetings. This makes Anguilla an extremely practical place to launch a business.

Is Anguilla a tax haven?

It is true to say that Anguilla is a tax haven. In comparison to other British Overseas Territories, this one has the lowest tax rates. Particularly, both residents and non-residents of Anguilla pay 0% income tax and 0% business tax. Every firm operating in Anguilla is also exempt from other taxes like capital gains tax, inheritance tax, and gift tax. Anguilla’s government depends on customs taxes and upscale travel as the main sources of money to handle the extremely low tax rates.

Being a trustworthy tax haven, Anguilla also offers firms nominee services so they can conduct business without worrying about financial auditing or reporting requirements. This adds even more anonymity and privacy to the already outstanding offshore environment.

In Anguilla, Limited Liability Company (LLC) and International Business Company (IBC) are two of the most popular business structures. Both apply the same favorable tax rates, specifically:

Corporate tax rate: 0%
Income tax rate: 0%
Inheritance tax rate: 0%
Gift tax rate: 0%
Capital gains tax rate: 0%
Estate tax rate: 0%
Stamp duty rate: 0-5%.
Property tax rate: 0.75%
Land transfer tax rate: 5%

Are Anguilla bearer shares permitted?

“Are Anguilla bearer shares permitted?” is one of the most commonly asked queries by firms when purchasing a company formed in Anguilla. Under the IBC ACT (R. S. A CI20) in Anguilla, International Business Companies (IBCs) are permitted to issue Anguilla bearer shares. Bearer shares from Anguilla are subject to custodial services. According to the IBC Securities Depository Regulations, bearer shares held by anybody other than the lawful custodian are deemed null and worthless. In accordance with the AML/CFT Regulations and Rules, the depository must also determine who the beneficial owner of any Anguilla bearer shares is and keep a register of their names and addresses.

The owner of the company is the legitimate holder of the shares in the event that it issues bearer shares. As long as Anguilla bearer shares are not likely to be exploited by persons with bad intentions due to their ambiguity, they are regarded permissible to use by anyone who seek to maintain secrecy and anonymity. In order to prevent the issuance of bearer warrants, the Anguilla government is considering compelling current bearer stockholders to convert their bearer shares into common shares. This would improve business openness in Anguilla and reduce the rising unlawful activity.

What is a meeting of shareholders or annual general meeting?

A gathering of shareholders who are concerned about the operations and performance of a company is known as an annual general meeting or a meeting of shareholders. At these meetings, the directors give a report outlining the company’s historical activities, present performance, and any long-term strategic plans. Additionally, the shareholders may vote on any significant changes, such as additions to the board of directors, the size of the dividend, or an audit.

Are there annual general meeting requirements of Anguilla IBC?

The Anguilla International Business Companies Ordinance grants the business complete discretion over the timing, location, and mode of an annual general meeting. Therefore, there is no need to hold an annual general meeting unless required by the Anguilla business. The meeting can take place anywhere in the world if they so choose. It is not required to be on Anguilla.

The directors may convene and meet as they see fit, according to the Ordinance. Similarly, there is no requirement that any director meetings be held. And if the board decides to hold one, they can do so anywhere in the world and with the use of technology if they so want.

Can meetings of directors and shareholders of an Anguilla IBC be held by written resolution?

A written resolution may also call for the holding of the board of directors and shareholder meetings of an Anguilla IBC. The decision on each of these is up to the business. When a company is incorporated, the laws of incorporation, the memorandum, and the articles of association might specify the shareholder meeting regulations. The meeting can be held in any legal manner that is desired, even by written resolution, if it is convenient or the company owner desires it.

Anguilla is the ideal jurisdiction for all types of business owners and directors because it is completely legal there.

How to obtain a business license in Anguilla?

The law of Anguilla stipulates that certain business licences and permissions are necessary when opening a business. It may take a lot of time and work for business owners to complete the Anguilla licencing process.

For foreign investors, the standard application for a business licence in Anguilla includes:

A filled out application
Business plan
Qualifications
Certificates and Articles of Incorporation
Police record within 6 months, passport
Provide at least 3 Character References or Testimonials other than your family members.
Statement of Financial Ability/ Bank Letter
A Due Diligence with your passport information.

Offshore Company Formation in Bahamas

How do I start an offshore company in the Bahamas?

Here are some things to be aware of if you intend to launch an offshore business in the Bahamas:

The Bahamas’ tax system is the most alluring aspect for establishing an offshore business. In this nation, there are no corporate taxes, income taxes, capital gains taxes, royalties taxes, dividend taxes, or interest taxes. Additionally, both resident and non-resident enterprises on the islands are subject to these terms.

In the Bahamas, establishing an offshore corporation is inexpensive, as are keeping one in operation. Your application will be completed in between 7 to 14 working days.

High levels of secrecy are available to offshore businesses in the Bahamas, which is ideal for safeguarding assets and maintaining the confidentiality of personal data. Surprisingly, the 1990 International Business corporations Act of the Bahamas forbids the sharing of information about Bahamas corporations with any other nation.

How to start an offshore company in the Bahamas with Ruihong:

Step 1 Request free company name search. We check the eligibility of the name, and make suggestions if necessary.

Step 2 Register or login and fill in the company names and director/ shareholder(s) and fill in shipping, company address or special request (if any).

Step 3 Choose your payment method

Step 4 You will receive soft copies of necessary documents including: Certificate of Incorporation, Business Registration, Memorandum and Articles of Association, etc. Then, your new company in the Bahamas is ready to do business!

Are bearer shares permitted in the Bahamas?

A bearer share is an equity security that is fully owned by the individual or business that is in possession of the actual stock certificate. Presenting the actual paperwork is the simplest way to transfer ownership because the share is not registered with any body.

Many firms do not know whether or not bearer shares are allowed in the Bahamas when registering a company there. To respond to this, bearer shares were previously permitted but were banned in 2000. Prior to that, all bearer shares were recalled on June 30, 2001.

In order to enhance company legislation and win over foreign investors’ trust, these revisions were made to the International company Company (IBC) Act 2000, which repealed the IBC Act 1989. The Act also stipulated that a corporation must have at least one shareholder and that its beneficial owners must be disclosed to the registration agent even though they are not made public.

The FSF, FATF, and OECD noted transparency concerns regarding the identification, recording, and sharing of important information about legal and corporate entities. These concerns have been addressed by the removal of Bahamas bearer shares.

Is Bahamas a Tax Haven?

Tax havens advertise themselves as places where non-residents can escape paying high taxes by locating their assets or businesses there, even though the tax systems vary by country. In reality, despite not being considered tax havens, even highly regulated countries provide tax benefits to attract international investment.

High information privacy – Tax havens in the Bahamas aggressively guard financial information. The Bahamas have formal laws or administrative procedures in place to safeguard information from outside interference and espionage.

There is no requirement for foreign organisations to have a presence in the Bahamas. There is no requirement to establish a local representation or office, produce goods or services, or engage in trade or commerce.

How to get a business license in the Bahamas?

The application form may be obtained through a Business Licence Unit office (BLU). Fill out the application and deliver it to a Treasury Office, a Family Island Administrator, or the BLU. This form also allows you to register a company name. If the name is declined, the applicant will be notified and told to select one of the other choices on the form.

The following files must be affixed to the application:

Identification papers
Appropriate Registration Fee
Other industry specific Approvals

If no issues arise, the application is finished in 7 working days. The BLU will get in touch with the applicants to let them know they may pick up their Bahamas business licence.

Public trading companies, limited liability partnerships, and limited liability companies register and acquire their certificates of incorporation from the Registrar General Office. This is then brought to the BLU office.

How does the Bahamas tax system work?

The Bahamas has a relatively low tax rate. In summary:

Income, dividends, capital gains, wealth and inheritance are all tax-free.
There is a 12% VAT on nearly all products and services, with the exception of food and some medical services.
On real estate transactions over $100,000, there is a 10% stamp duty.
On owner-occupied real estate, an annual property tax of around 1.5 percent is levied.
Many items have import taxes ranging from 25% to 40%.

The Bahamas may appear to be a tax-free haven on the surface, but to actually benefit from this jurisdiction’s tax system, the help of a professional like Ruihong is strongly advised.

How can I start an offshore company in the UK? | LLP or Private/Public Limited

Step 2 You make the necessary payments for the official UK Government Fee and Our Service Fee.

You can open an offshore bank account for your business in Europe, Hong Kong, Singapore, or another supported jurisdiction!

How can I prevent my name from appearing if I don’t want it to?

Ruihong can also provide a nominee director and a nominee shareholder to protect your privacy.

Nominee non-beneficiary, non-executive and just name only on paperwork.

Offshore Company Formation in Middle East

What type of company can I form in RAK?

The type of the company in RAK is International Business Company (IBC)

IBC refers to International Business Company
It is a company which does not conduct substantial business in its country of incorporation.
It is formulated in a tax free jurisdiction.
It legally minimizes any type of tax burdens.
It improves one’s wealth management

Are there any specifications or rules governing the names that can be used by RAK Offshore companies?

RAK Offshore International Business Companies (IBC) must use the suffix Limited or Ltd. to denote limited liability.

Can a foreigner hold 100% shares?

It is possible. A foreigner can own 100% share of the company

How much corporation tax do I have to pay?

Rak Offshore IBC doesn’t pay taxes on profit and capital gains, No value-added tax, No withholding tax.

What is the minimum paid up for the capital of company in RAK?

The RAK firm typically has 1,000 AED in authorised capital. But the corporation has no minimum paid up capital.

How can I maintain my privacy with RAK Company?

All data and documents are maintained in strict confidence. The company’s information is not accessible online.
Additionally, our nominee services can assist in keeping your name out of all the paperwork.

What a RAK Offshore company can and can not do?

It might have shareholders or directors who are not UAE citizens.
It might have shareholders or directors who are UAE citizens. (Learn more: residency in the UAE)
It might have corporate directors or shareholders.
For incorporation, neither the shareholder nor the director must be physically present in the UAE.
It might own stock in other UAE-based and international businesses.
It might keep bank accounts and money anywhere in the world, including the UAE.
With previous approval from RAK Investment Authority, it may own property in the UAE.
It is not required to keep its books and records current.
Physical offices are not permitted in the UAE.
It is not allowed to conduct business in the UAE.
It can not to secure a UAE residency visa.
It cannot operate in the insurance and banking industries without a special licence.

Offshore Company Formation in Seychelles

What types of company will be set up?

Firms incorporated under the International Companies Act 2016 (Seychelles) are known as international business firms. The form of business could be a Limited Liability Company (LLC) or a Private Limited by Shares (Pte Ltd).

Can an Offshore Company have only one director and one shareholder?

Yes

How to start a business in Seychelles?

According to the International Business Companies Act of 1994, Seychelles International Business Company (Seychelles Offshore – IBC) is completely tax-exempt. Once the offshore has been established, there is no need to file accounts or submit yearly reports. Since Seychelles is not a signatory to any double taxation agreements, there is greater protection from financial inquiries. The law protects the offshore corporation, the shareholder, and the director’s confidentiality.

Step 1 For Seychelles Offshore Company Formation, you will be required to give the names and contact information for each shareholder and director to our relationship managers team. You can choose whether you want standard services that take two working days or urgent services that take one working day. Additionally, please include the company names in the proposal so that we may verify that they are valid in the Registrar of International Business Companies system.

Step 2 You settle the payment for Our Service fee and official Seychelles Government Fee required.

Step 3

Ruihong will email you a digital copy of the documents (such as the Certificate of Incorporation, Register of Shareholder/Directors, Share Certificate, Memorandum of Association and Articles, etc.) after gathering all the necessary information from you. Full Seychelles Offshore Company kit will be sent by express courier to your residence (e.g., TNT, DHL, UPS).

You can open an offshore bank account for your business in Europe, Hong Kong, Singapore, or another supported jurisdiction! Under your Seychelles Offshore Company, you are freedom worldwide money transfer.

You’ve formed a Seychelles company and are prepared to conduct business internationally!

Are corporate directors allowed, as well as bearer shares?

No. Bearer Shares are not allowed. Corporate directors are allowed.

What about the filing of accounts?

No accounts need to be filed but accounting records must be maintained.

Offshore Company Formation in Delaware

Case Study – Delaware L.L.C and Corporation?

Take Google and YouTube as examples for better understanding of L.L.C. and Corporation

Both Google and YouTube are corporations, respectively. Why did they opt for particular entity types?

The new generation of business owners should fully capitalise on this one example, which clearly distinguishes between an L.L.C. and a corporation.

By submitting its Certificate of Incorporation to the Delaware Division of Corporations on October 3, 2005, YouTube officially became a corporation. It converted its corporation into a limited liability company on November 8, 2006, just 13 months and 5 days later. This is one of the main benefits of Delaware companies: they can change their legal structure at any time.

On the other hand, a small group of people own YouTube L.L.C. Only those with inside information are aware of how few there are and who the owners are. Additionally, no public disclosure is necessary, thus only the owners are aware of the company’s finances. A Delaware L.L.C has the advantage that its members, their ownership stakes, and its financial valuation are all confidential information that only the company’s insiders are privy to. The proprietors of a Delaware L.L.C are not required by any federal statute to disclose their identities publicly through registration, disclosure, or any other means.

Google chose to be a Delaware Corporation so it could go public and raise money, which they did on August 16, 2004. Once it did so, it quickly became one of the richest companies in history. Google’s rise to power created tens of thousands of millionaires and a lot of billionaires. Even though 60% of Google is owned by institutions, there are millions of individual shareholders in the company. The company has current cash reserves of $50 billion.

Delaware Corporation vs LLC

Governance structure

L.L.C Company

All members are bound by an operating agreement.
The operating agreement determines all issues in the company.
The members may manage the company themselves or they may hire an external manager.

Corporation Company

There are 3 tiers of power:

Shareholders – own the company
Directors – manage the major business actions
Officers – carry out day-to-day business activities

Federal taxation

L.L.C Company

IRS considers a single-member LLC to be a disregarded entity and a multi-member LLC to be a partnership.
The entity/partnership must fill in a Federal Tax ID number (also called an employer identification number or EIN).

Corporation Company

IRS taxes in 3 different ways:

C-corporation – pays taxes on profits each year and may
choose to distribute dividends to shareholders. If the
shareholders are a small, tight-knit group, this is often
referred to as double taxation.
S-corporation – the tax liability on the profits and losses
of the company are passed through to the shareholders.
They must pay the taxes.
Tax exempt – the company must file IRS Form 1023
and qualify for tax-exempt status by engaging in a
qualifying charitable, religious or public-service purpose.

Privacy

L.L.C Company

No annual report required

Corporation Company

Annual report must state:

the corporation’s physical address
all directors’ names and addresses
one officer’s name and address

Complete Delaware Company Kit package includes

L.L.C Company

Apostille
Certified Copy of Certificate of Formation
Notarized Statement of Authorized Person
Digital Corporate Seal

Corporation Company

Apostille
Certified Copy of Certificate of Incorporation
Notarized Statement of Incorporator
Articles of Incorporation (BY-LAWS)
Digital Corporate Seal

What is a Delaware limited liability company (LLC)?

Delaware LLC

In the US, an LLC is a relatively new sort of entity. If done right, it combines the pass-through taxation of a partnership with the restricted liability of a corporation. It is crucial to make clear that LLCs are not corporations, despite the fact that they can be regarded as partnerships.

An LLC is a type of company entity with a separate legal existence from its owners. The company’s debts and responsibilities are not personally owed by the owners or managers. These characteristics, when coupled with revenue from sources other than the United States, allow non-resident foreigners to use LLCs to avoid paying taxes in the United States.

LLC Operating Agreement

An LLC Operating Agreement, which is a written document created by the LLC’s owners, governs the management and activities of an LLC. According to the Delaware Limited Liability Company Act, the parties’ operations, management, and contractual relationship may be specified in the LLC Operating Agreement. This is referred to as contract freedom.

An LLC ensures safe secrecy and gives you the flexibility to design a management structure that reflects the economic relationships between your owners. The LLC Operating Agreement need not be translated into English and may be prepared in any language.

How to Manage an LLC

Although it is permitted by Delaware LLC law, members are not required to serve as managers of a Delaware LLC. What’s more, the law specifies that neither a member nor a management shall be personally liable for any debts, obligations, or liabilities of the Delaware LLC solely by reason of such member’s or manager’s membership in the Delaware LLC.

Why should you choose Ruihongp to register new company in Delaware, USA?

With us, establishing a Delaware corporation is simple. You can choose the kind of corporation you want to start, if you want a federal tax ID number, and more. A qualified staff member can also be reached by phone, email, or live chat.

Obtaining a tax ID or employer identification number (EIN) for a Delaware company

Obtaining a Federal Tax ID number, usually referred to as an employer identification number or EIN, is the next step after creating a Delaware corporation or LLC. The Federal Tax ID Number is essential for an LLC or corporation to legally perform commercial activities, especially if you’re running a business in the United States, just as possessing a social security number is crucial for US people. An EIN is necessary for all US businesses in order to create US bank accounts, qualify for loans, recruit staff, and other things. For the duration of the company, the EIN is valid. However, a new Federal Tax ID Number is often needed whenever your company changes its entity type (for instance, from an LLC to a corporation).

How you obtain an EIN

Ruihong provides a low-cost solution to help you work with the IRS to get a tax ID for your business. You can avoid dealing with the frequently complex IRS paperwork and procedures by using this quick and simple service, which also offers qualified customer help.

You can save time by asking Ruihong. to obtain the EIN when we file your corporation or LLC if you’re creating a new business. Simply indicate on our company purchase form that you want your Federal Tax ID number to be obtained, along with your preferred delivery window, and Ruihong will handle the rest.

What to do if you lose your EIN

There are various ways to locate the Federal Tax ID number for your business if you can’t find it. We can give you the EIN if we secured it on your company’s behalf. We will resend the number to the email address we have on file, so kindly be aware of that.

From 7 a.m. to 10 p.m. US Central time, Monday through Friday, you can call the IRS directly at +1 800-829-4933 if you’re still having trouble finding your EIN.

Please be advised that Ruihong is not associated with the IRS or the state of Delaware.

Why form an LLC in Delaware, USA?

A Delaware LLC (Delaware limited liability company) is a type of business entity that is created by filing the proper certificate of formation with the Delaware Secretary of State.

The Delaware LLC is a truly unique business format in that the structure of the company and the rules that govern its members are contained in a contract called an operating agreement, which is drafted by the company’s members (owners).
In drafting the operating agreement, you have what lawyers call ‘freedom of contract’, which means that, as the owner, you have the freedom to tailor the terms and rules of your LLC to accommodate your specific business needs.
Once signed and agreed to by all parties, the operating agreement is legal and enforceable by all parties.

Account Opening Consultancy

Do I have to physically visit the bank to open an account?

A personal visit is required in order to open bank accounts in Singapore and Hong Kong.

For other countries, like Switzerland, Mauritius, St. Vincent, and others, you can leave the majority of the job to our qualified team and profit from remote application. With a few exceptions, the entire process can be performed online and by courier.

Even better, if you want, a personalized in-person appointment with our affiliated bank account manager can be arranged.

Does establishing an offshore corporation mean that a bank account will be opened for the business right away?

No. If you select the option to open a bank account, we will, in close consultation with you, select the bank from our network of premier banks that best meets your needs.

Depending on how comfortable they are with the nature of your business and the personal information you submitted, the bank will then decide whether the account can be opened.

In which countries can you open a bank account for my company?

We can support you to open bank accounts in Hong Kong, Singapore, Switzerland, Mauritius, St. Vincent and the Grenadines and Latvia.

Must I wait until my offshore company’s setup is complete before opening a bank account for it?

This is a must. Most banks require the company KYC documents to have a certain degree of legal notary as eligibility.

How long does it take the bank to open a bank account for a business?

The bank will do a compliance check after receiving all necessary documents.

Depending on the bank of your choice, the bank account can often be approved and active in 7 working days.

With my business bank account, will I receive a credit card and an ATM (debit) card?

Depending. This is subjected to bank service.

Why open an offshore bank account for company?

Open an offshore bank account for your firm to expand your business because it offers a higher level of independence, security, and profitability.

Bank confidentiality is guaranteed by many offshore nations. In some jurisdictions, bank employees are prohibited from disclosing any information about a bank account or its owner due to the country’s tight bank secrecy regulations. The degree of currency control in offshore nations is much less strict than it is in high-tax nations.

Additionally, offshore bank accounts might escape the expensive service fees that have become commonplace in domestic banking. Interest rates from offshore banks are typically highly appealing. Due to the fact that all purchases are deducted from the offshore bank account, offshore credit and debit cards offer a certain level of privacy.

However, some offshore banks are more financially sound and efficiently run than even the biggest domestic banks. The reason for this is because an offshore bank is required to keep a higher ratio of liquid assets to total debt.

For the aforementioned reasons, operating a bank account in an offshore jurisdiction could make sense because it protects your money from domestic fiscal authorities, creditors, rivals, ex-spouses, and other people who might try to take your money is safe.

Trademark Registration Service

What are the characteristics of trademark?

The following are trademark characteristics:

Differentiating its product or service from competitors.
Words, pictures, letters, figures, colours, or 3D symbols formed by mixing the aforementioned elements.
Exclusive nature; the trademark holder has exclusive rights to the trademark, which are legally protected.
Intangible asset, the value of which can be determined by evaluation; the trademark holder may be entitled to profits by transferring and licencing the using rights.

What marks cannot be registered as trademarks?

The following marks are not permitted to be used as trademarks:

Markings that are identical or similar to a country’s name, national flag, national emblem, army flag, and medal, as well as markings that are identical to the name of a specific location where state organs are located or the name and graph of famous structures
Marks that are same or similar to an international organization’s name, flag, and emblem
Other than the allowed mark, marks identical or similar to the official mark and hallmark showing the execution of control and security.
Discrimination based on race
High-sounding publicity and deception
Marks that are consistent with the product’s generic name, graph, and kind, such as computer, pen, and portfolio
Marks directly indicating the quality, major raw materials, function, purpose, weight, quantity and other characteristics of the product
Marks identical or similar to name or sign of Red Cross and Red Crescent

What details and paperwork are needed to submit a trademark application?

the name of the applicant
the correspondence or registered address of the applicant
a copy of Hong Kong Identity card or passport for individual applicant; a copy of business registration certificate or Certificate of Incorporation of the applicant;
a softcopy of the proposed mark;
desired class of registration or details of goods or services within those classes which are traded.

What are the benefits of registration of a trademark ?

The Public Limited Business is a broader version of the limited company, which does not limit the maximum number of shareholders, listing its shares on the stock market, transfer shares and fund raising from public funds and taking public deposits. Again, a public limiteThe right to prevent unauthorised use of one’s trademark or a mark that is confusingly similar without the owner’s permission for the products or services for which the trademark is registered, as well as for comparable goods or services, is granted by registration of a trademark. Owners of unregistered trademarks are only entitled to protection under common law. Under common law, proving one’s case is more challenging.d company is regulated by and run by a board of directors formed according to unanimity among its shareholders, as opposed to a private limited corporation. However, as comparison to that essential for a private limited business, a public limited business does have significantly greater compliance load.

What trademark can be registered ?

the name of a company, individual or firm represented in a special manner;
the signature (except in Chinese characters) of the applicant;
an invented word;
a word that is not either descriptive of the goods or services for which the trademark is used or is not a geographical name or is not a surname; or
any other distinctive mark.

How long will my rights be protected?

The protection period of a trademark when registered will last for a period of 10 years and can be renewed indefinitely for successive periods of 10 years.

Who can register trademark?

There is no restriction on the nationality or place of incorporation of the applicant.

What kind of paperwork will I get once my trademark is registered?

You will get a Certificate of Registration for your trademark within 4-7 months, depending on the country and type of trademark you are registering.

Merchant Account for Online Business

Why do I need to provide Bank Statement for Merchant Account?

All banks require bank statements for underwriting. Bank statements reveal a lot about a prospective merchant. First, a bank will check to see if there has been prior processing (which will be reflected in deposits on your account). Prior processing is completely okay, however banks like to review all statements in order to analyse any refunds or chargebacks. Second, the bank needs to check your average ending amount to guarantee you can pay all of your monthly expenses. This will also help to validate the monthly volume requested.

What are high risk merchant accounts?

High risk merchant accounts are for certain businesses that are considered to be riskier. For example, a business that may be prone to a high rate of chargebacks or fraud etc.

Why is offshore processing sought-after by high risk merchants?

Unfortunately, once a merchant is classified as high risk, obtaining a merchant account will be extremely difficult, if not impossible. Most banks and traditional financial institutions will reject applications from high-risk merchants. A high risk provider, on the other hand, specialises in assisting these merchants with their problems and giving solutions. Offshore payment processing for high-risk firms ultimately provides access to a larger market, increased volume capacity, and tax savings, among other perks.

What business types really need offshore payment processing?

Not every firm will require offshore payments. The majority of those who use this service are from high-risk industries, while some low-risk merchants also use it. Accounting and bookkeeping, credit repair, dating services, online pharmacy, furniture, e-cigarettes and vape, travel, and weapons are among the industries that frequently seek offshore credit card processing.

What is an offshore merchant account, and does your business need one?

E-commerce sites can accept credit and debit card payments from major credit card issuers such as Visa and Mastercard, as well as other credit card providers, thanks to offshore payment processing. These services allow businesses to process transactions from any place in the world and in any currency.
It is easy to understand how offshore payments could provide a competitive edge and boost a company’s profitability.

What Is An Offshore Merchant Account?

An offshore merchant account is one in which the acquiring bank or offshore payment processor is located somewhere other than the company’s main office.

For example, if a US corporation creates a European account for payment processing, the European account is considered offshore by the US corporation.

International and offshore merchant accounts are interchangeable. The key contrast is that merchants seeking offshore merchant accounts are often classified as high risk by US acquiring banks. International merchant accounts are used by both high-risk and ordinary merchants who want to benefit from the growing growth of international e-commerce.

These accounts also provide tax advantages due to their location in countries with no tax responsibilities. Adult entertainment, online drugstores, casino games, sportsbooks, electronic money, counterfeit items, cigarette products, travel-based, and pharmaceuticals stand to benefit the most by opening an OMA, offshore merchant account.

How to Qualify For An Offshore Merchant Account?

Depending on the nature of your offshore firm, it may be vital that your existing merchant account is an OMA. This part might be applicable, for example, if your company has a digital commerce component or accepts payments from any country, such as the United States, Germany, or Europe.

However, not all sellers fall into such categories, as even small merchants may require such options for unique reasons, such as receiving credit card payments from clients living overseas who require greater fraud safety measures than those currently provided by traditional local financial institutions.

Trust & Foundation Service

What about Trust’s taxes?

The trust’s revenue is recorded directly on the current beneficiaries’ tax returns. Because it is a grantor trust, which is a trust in which the creator (or grantor) retains some stake in the trust’s income and cash. For tax reasons, it is not treated as a separate taxable entity from the grantor. As a result, it is “Income Tax Neutral” for the giver. For tax reasons, this is the same as owning the funds in your name. However, in terms of asset protection, it is the difference between retaining and not keeping your own money. It can also forward real estate tax and mortgage interest deductions to your personal tax return.

Who holds a General Trust License?

A General Trust Licence holder is an entity that has a valid general trust licence as defined by the Banks and Trust Companies Act of 1990, which allows the holder to conduct trust operations without restrictions. This Act defines trust business as “(a) acting as a professional trustee, protector, or administrator of a trust or settlement, (b) managing or administering any trust or settlement, and (c) company management as defined by the Company Management Act, 1990.”

What is a Registered Agent ?

The International Business Companies Act (“IBCA”) defines a registered agent as “the person who is at any particular time performing the functions of registered agent of a company incorporated under this Act pursuant to subsection (1) of section 39” (of the IBCA).

What is a principle office ?

A principle office is the office of the Company Manager or Trust Licence holder with a physical presence in the (British) Virgin Islands.

Who is a Company Manager?

Who is a Restricted Trust Licence holder?

A Restricted Trust Licence holder is an entity that has a valid restricted trust licence as defined by the Banks and Trust Companies Act of 1990, which allows the holder to carry on trust business with limits, specifically delivering trustee services to a trust.

What is an Authorised Agent ?

An Authorised Agent is a person designated by a trust company to act as an intermediary between the licence holder and the Commission.

What is a Trust Company ?

A Trust Company is a company that carries on trust business as defined in (2) above.

Shelf Company

Can I change the name of my company?

Yes. However, to verify that the identical name does not already exist, the proposed new business name must first be approved by the registrar in the nation of incorporation.

Offshore Company Corp will gladly conduct a free name search for you.

The business’s directors must draw and sign a board resolution, and the new name must be officially submitted with the company registry in the place of incorporation.

Can I change the shareholder(s) of my company?

Yes. A board resolution must be developed, signed by the firm’s director(s), and registered with the company registry in the place of incorporation.

The new shareholder(s) must submit a copy of their passport, evidence of permanent home address, phone/fax number, and email address, as well as a signed statement confirming their desire to become a shareholder of the company.

Can I change the director(s) of my company?

Yes. A board resolution must be developed, signed by the firm’s director(s), and registered with the company registry in the place of incorporation.

The new director(s) must submit a copy of their passport, evidence of permanent home address, phone/fax number, and email address, as well as a signed letter confirming their desire to become a director of the company.

Can I establish a bank account for my company?

Yes, we can help you open a bank account for your business.

Normally, we must give to the bank documentation of current your business activities utilising corporate brochures, a company website, business contracts, and a lease agreement to support your bank account application (this is not applicable to start-up businesses).

Business Licensing

What paperwork do I need to obtain a business licence?

Depending on the type of licence you need, you may be required to present your legal company document, shareholder/director information, business plan, and other documents such as a finance statement audit, renting office agreement, and so on. Rest confident that we will assist you in completing all of your tasks.

Do I need a business license if I have an LLC?

In most cases, no business licence is required when incorporating an LLC. However, depending on the state and industry, an LLC will require suitable business licences to operate. There are numerous licences available, awarded at various levels ranging from federal to local town hall. Some states have regulations that require generic business licences regardless of the sort of business.

What kinds of business licences and permits will I require for my venture?

In order to legally function in the country where your company is registered, you may need to get one or more types of business licences and permits. The sort of business licence you need will be determined by the jurisdiction in which you live, the products and/or services you sell, the structure of your firm, and the number of employees you have. There is no common way to identify exactly what form of licence or permit you need for your business because each country/jurisdiction has so many distinct criteria.

Here are some examples of frequent business licences and permits:

Seller’s permit/license: to collect sales tax on any taxable goods/services
Professional license: required for some specific businesses such as: accounting, legal counsel, plumbing work, massage therapy.
Financial services licensing: can be divided into 4 types:
- Broker license: A must-have if you are doing business in trade markets
- E-money License: For business that needs its own payment system
- Banking License: Mainly for small credit organizations to provide banking services
- Financial License: Important license for financial management and investment funds services

What licenses do I need to start a business?

Almost all enterprises will require some sort of licence, and many may require multiple different forms of permissions. This is heavily influenced by where you reside and the business you work in. You should be aware of the licences and permits required to establish a firm.

General Business License: Businesses are often required to have a general business license to operate. These are also considered indispensable licenses and permits needed to start a business.
DBA (Doing-business-as) License: You will need this license if you are operating your business under a fictitious business name (also known as a DBA name).
Federal and State Tax Identification Numbers: Applying for a federal EIN, also known as a tax identification number, is almost mandatory for most businesses.
Tax sales license: If your business sells goods, you may need to apply for this type of business license.
Zoning permit: There are some regions or localities that have laws that prohibit the sale of certain products or services. You will have to learn to apply for this license before proceeding with business.
Home Residency permit: This permit is applicable to home-based businesses.
Professional license: All types of businesses, especially in the professional services industry, companies and employees need this license.
Health Permit: You will need this if you are in the food industry or are involved in employee and customer health.
Special federal permits: A federal license will be required if your business engages in activities supervised by a federal agency.

Which licences do Ruihong provide?

Depending on your business, we can support you to get any licence required from the local government.Contact to us for further details.

What is my business license number?

The business licence number is normally found at the top of the business licence certificate or corresponds to a different number supplied by the government office during the application procedure. If the certificate is not available, the business licence number can be checked up at the local business licence office using the other number.

What types of businesses need a license?

You must have questioned at some point before beginning a business what types of enterprises require a licence. Businesses are obliged by law to have at least one business licence or permit granted by their municipal, county, or state government. The type of business licence you require will be determined by where you operate, the items or services you sell, and the structure of your company.

Here are some examples of enterprises that require a licence that you should be aware of:

Any type of business – General business license
Product or service business – Seller’s license
Companies doing business under another name – Business license doing-business-as (DBA)
Health-related business type – Health license
Businesses related to alcohol and beer – Liquor license
Businesses providing certain professional services – Professional license

How to get a business license?

When you start a new offshore firm, you will almost certainly need to apply for a business licence and other licences in order to operate legally.

The type of licence and permit required depends on the industry and location of your firm. The licence fee will be adjusted accordingly. Because obtaining a business licence requires time and resources, it is critical to consult with an expert to determine what you need to obtain a business licence.

To obtain a business licence through Ruihong, follow these five basic steps:

Step 1: Do a license research.
Step 2: Make your payment.
Step 3: Prepare the required licensing documents.
Step 4: File your application form
Step 5: Receive your business license.

Company Strike Off

What are the general conditions and requirements for a company to make an application for deregistration/strike-off ?

The company must meet the following conditions before making an application for deregistration/strike off.

All the members of the company agree to the deregistration.
The company has not commenced operation or business, or has not been in operation or carried on business during the 3 months immediately before the application.
The company has no outstanding liabilities.
The company is not a party to any legal proceedings.
The company has obtained a Notice to Authority/Company Registry.

How can I restore a deregistered company?

An application for the restoration can be made to the Court of First Instance or Withdraw. Offshore Company Corp can help you do it!

How long does it take to strike off a company?

Depending on the jurisdiction you are incorporated in and the status of your business, it normally it takes 1-2 months, but it may be 5 months for companies incorporated in Hong Kong, Singapore and the UK

If a offshore (BVI, Seychelles, Belize…) Company was struck off the Register by the Registry of Corporate Affairs due to non-payment of its licence fee, then how long would it take for that company name to be released for re-use ?

A company that is struck-off the Register will be deemed to be dissolved seven years after strike-off. The company name may be reused at any time after the company is dissolved. If the name of the company has been reused in accordance with the Act, the company is restored to the Register with its company number name.

Do I need to file all outstanding Annual Returns before delivering the application for deregistration ?

Yes. A company is required to file Annual Returns and observe its obligations under the Companies Ordinance until it has been dissolved. Failure to do so will make the company liable to prosecution.

What are the differences among terms deregistration, striking off and winding up ?

Winding up is the process of settling the accounts and liquidating the assets of a company for the purpose of making distribution of the net assets to members and dissolving the company.

Deregistration is A defunct solvent company, it is a relatively simple, inexpensive and quick procedure for dissolving defunct solvent companies.

As for striking off, the Registrar of Companies may strike the name of a company where the Registrar has reasonable cause to believe that the company is not in operation or carrying on business.The company shall be dissolved when its name is struck off the Companies Register. Striking off is a statutory power conferred on the Registrar, a company cannot apply for striking off.

Which document I will get after Strike-off/Dissolve company ?

Provided that your company is solvent properly, you can arrange for voluntary liquidation. It is a formal and complete way of winding-up your company. Upon completion, a Certificate of Dissolution will be issued by the Company Registry.

What is a Trust Company ?

A Trust Company is a company that carries on trust business as defined in (2) above.

Accounting Audit

How do I ensure that my data are totally secured?

You can rest assured that your data will be safe with us. We reinforce security of clients” data based on three pillars:

We have enforced data security policy in place to govern activities of internal departments and staffs involving in dealing with data and information.
Secured data servers with restricted access and frequent monitoring on safety of information.
Public privacy policy to our clients and contractual commitment by Non-disclosure agreement.

What methods can I use to submit my data?

We are flexible so you can freely choose your preferred methods. Below are some suggestions you might consider:

Send to us via email.
Get access to documents through cloud storage.
Remote access to your internal system.
Access through web-based accounting software.

Can I do bookkeeping myself for my company?

Yes, you can definitely do accounting yourself. But smart business owners choose to outsource to accounting professionals who can do it in a much more efficient way, so they can have more time to focus on their core business.

What is my business license number?

What types of businesses need a license?

Here are some examples of enterprises that require a licence that you should be aware of:

Any type of business – General business license
Product or service business – Seller’s license
Companies doing business under another name – Business license doing-business-as (DBA)
Health-related business type – Health license
Businesses related to alcohol and beer – Liquor license
Businesses providing certain professional services – Professional license

How to get a business license?

When you start a new offshore firm, you will almost certainly need to apply for a business licence and other licences in order to operate legally.

To obtain a business licence through Ruihong, follow these five basic steps:

Step 1: Do a license research.
Step 2: Make your payment.
Step 3: Prepare the required licensing documents.
Step 4: File your application form
Step 5: Receive your business license.