(+65) 6299 5995 enquiry@enrichco.com

Office Address

320 Serangoon Road, #04-18 Serangoon Plaza, Singapore 218108

Phone Number

(+65) 6299 5995

(+65) 6295 6075

Email Address

enquiry@enrichco.com

enquiry@enrichco.com

BENEFITS OF A TAX HAVEN COMPANY

A tax haven is a place of sanctuary or safety against tax liability. Many businesses and individuals find establishing a tax haven company beneficial. Among the reasons cited are:

1) Asset Protection

Protect assets in combination with a Trust, an offshore company can avoid high levels of income, capital and death taxes that would otherwise be payable if the assets were held directly. It can also protect assets from creditors and other interested parties. From competitors, adverse claimants and other parties from whom you wish to keep your business interests private and to secure against future claims such as bankruptcy, judgment creditors and other litigants, etc.;

2) Confidentiality

Keep business affairs confidential. Offshore Companies offer complete privacy. If the company shares are held by a Trust, the ownership is legally vested in the trustee, thus gaining the potential for even greater tax planning advantages.

Estate Planning Family and Protective Trusts (possibly as an alternative to a Will) for accumulation of investment income and long-term benefits for beneficiaries on a favorable tax basis (without income, inheritance or capital gains taxes);

3)Simplify the transfer of assets and properties held in several countries:

The sale or probate of properties in different countries can become complex and expensive. If an offshore company collectively holds these, ownership can be transferred by company shares rather than transferring the actual properties owned by the company.

4)International Tax Planning and Conduct business without corporate taxes:

Tax havens, such as British Virgin Islands, allow the formation of International Companies that have no tax or reporting responsibilities. This means you save money not only from the absence of corporate taxes, but also from reduced compliance and other regulatory costs. Reduce payroll and travel expense administration: Allow employment or consultancy fees to accumulate in a low tax area: Offshore corporations can contract the services of professionals to employers resident in high tax locations or politically unstable areas. This allows the fees to accumulate in a low tax jurisdiction.

5) Operate as an International Entity

International Companies have the same rights as an individual person and can make investments, buy and sell real estate, trade portfolios of stocks and bonds, and conduct any legal business activities so long as these are not done in the country of registration. Offshore Companies set up offshore need not pay social security, withholding tax, or associated expenses of employees working in other foreign countries.

6)Savings for Companies

An offshore corporation can buy or lease products from one country and then sell or lease them to a company in another country so the profits of the transaction are accumulated in the offshore company where there is no taxation on profits. Maximize profits from intellectual property rights, franchising and licensing: An offshore company can franchise or license intellectual property rights in other foreign countries allowing the profits to accumulate in a tax-free environment.

6)Protection of Investment

Companies in foreign countries may obtain a loan from international companies. The investor can open an offshore company to lower tax obligations and protect long term ability to repatriate investment funds.

JURISDICTIONS

We offer offshore company incorporation for the following jurisdictions:

SEYCHELLES ISLAND OFFSHORE COMPANY

Seychelles is situated in the Indian Ocean with a population of 80,000. It is one of the fastest IBC (International Business Company) registrar in the world with the most comprehensive, modern and attractive approach to the establishment and operation of offshore companies, banking, and insurance. This jurisdiction offers total confidentiality and anonymity and is recommended for high profile trading operations. It has an excellent up-to-date telecommunications network and advanced professional and technological infrastructures.

CHARACTERISTICS OF THE SEYCHELLES INTERNATIONAL BUSINESS COMPANY

Factor

Description

Income tax and business tax in Seychelles

None

Conduct business internationally

Yes

Conduct business within Seychelles

No

Formally considered as resident in Seychelles

No

Official language / language of documents

English

Operational objects

General clause, may be specified as required

Minimum paid-up capital

No minimum requirements

Optimum amount of authorized capital (maximum amount at minimum Government fee)

No limitation

Government license fee

USD 100

Considerations to the capital

In any currency or in kind

Bearer shares

Not allowed

Minimum number of directors

One

Minimum number of Members (shareholders)

One

Non-resident directors

Allowed

Corporate directors

Allowed

Registered Agent and Address in Seychelles

Required

Register of Directors

To be kept by the Registered Agent

Register of Members

To be kept by the Registered Agent

Register of Members filed for public record

No

Disclosure of beneficial owners to Registrar

No

Disclosure of beneficial owners to Registered Agent

Yes (confidential due diligence)

Holding of Annual General Meeting

Not required

Convention of Meetings of Directors / Members

Anywhere in the world, also by proxy

Corporate Minutes and Resolutions

To be kept by the Registered Agent

Corporate Seal

Not required

Keeping of accounting records

Required

Auditing of financial accounts

Not required

Filing of financial accounts

Not required

Access to double-tax avoidance treaties

Not available to IBC´s

Subject to currency controls / restrictions

No

Redomicile a foreign company into Seychelles

Yes

Redomicile a Seychelles company abroad

Yes

Net time to incorporate

1-2 business days

  
BRITISH VIRGIN ISLANDS OFFSHORE INCORPORATION

British Virgin Islands is situated in the Atlantic Ocean and only 96 Km East of Puerto Rico with a population of 25,000. It is the leading offshore jurisdiction with over 750,000 offshore companies incorporated since 1984. The government has strengthened and enhanced legislation to prohibit the formation of offshore banks on the Island and has in return reduced money laundering activities greatly. As a result of its highly flexible and modern legislation BVI has become extremely popular in the offshore market.

CHARACTERISTICS OF THE BVI BUSINESS COMPANY

Factor

Description

Income tax in BVI

None

Conduct business internationally

Yes

Conduct business within BVI

Yes

Formally considered as resident in BVI

Yes

Official language / language of documents

English

Operational objects

No requirement to specify

Authorized capital

Not required as a concept

Minimum paid-up capital

No specific requirements

Considerations to the capital

In any currency or in kind

Most effective number of shares
(maximum amount at minimum state fee)

50,000 shares (with or without par value)

Bearer shares

Yes (but to be held by a custodian only)

Registered Agent in BVI

Required

Registered Address in BVI

Required

Minimum number of directors

One

Non-resident directors

Allowed

Corporate directors

Allowed

Register of Directors

To be kept by the Registered Agent

Register of Directors filed for public record

No, but may choose to do so

Minimum number of Members (shareholders)

One

Register of Members

To be kept by the Registered Agent

Register of Members filed for public record

No

Holding of Annual General Meeting

Not required

Convention of Meetings of Directors / Members

Anywhere in the world, also by proxy

Corporate Seal

Mandatory

Imprint of Corporate Seal

To be kept by the Registered Agent

Corporate Minutes and Resolutions

To be kept by the Registered Agent

Disclosure of beneficial owners to Registrar

No

Disclosure of beneficial owners to Agent

Yes (confidential due diligence)

Keeping of accounts

Internally, only to enable a reasonably accurate determination of financial position

Auditing of accounts

Not required

Filing of accounts

Not required

Double-tax avoidance treaties

Switzerland, Japan

Currency controls / restrictions

None

  

Available special types of company

Restricted purpose company
Segregated portfolio company

Redomicile a foreign company into BVI

Yes

Redomicile a BVI company abroad

Yes

  

Net time to incorporate

3-5 days

Ready-made (shelf) companies

Available

Mauritius

Republic of Mauritius is located in the Southwest Indian Ocean in the coast of Aftrica. The Republic of Mauritius includes the islands of Rodriques, Agalega, and St. Brandon. Mauritius has developed a good reputation as a tax haven. Offshore services such as offshore banking and banking services, insurance, the registration of ships and vessels, investment fund management and the incorporation of Mauritius Global Business Company Category II (GBCII) or offshore company. Minimal and flexible statutory requirements and low government fees make this corporate vehicle very attractive and inexpensive

CHARACTERISTICS OF THE MAURITIUS BUSINESS COMPANY

GENERAL

 

Location of Jurisdiction

Mauritius – Indian Ocean

Official Language

English

Political Stability

Excellent

EU Savings Tax Directive Applies

No

Corporate Taxes

None

Disclosure of Beneficial Owner

Yes, but Nominees may be used.

Requirement to File Accounts with Government

No

Time to Incorporate

3-4 business days plus document issuance time. Note that if the company documents are to be apostilled this can add an extra week or more to the process.

  

CORPORATE

Type of Offshore Company

Global Business Company – Category 2

Type of Law

Common Law for corporate matters.

Registered Office/Agent

Required by Law

Change of Domicile

Allowed

Shelf Companies Available

Yes

Language of Documents

English

Chinese Characters Allowed

Yes

  

DIRECTORS

 

Eligibility                     Any person or company of any nationality

Minimum Number of Directors

One. Can be a person or a company.

Disclosure to Authorities

Yes, but Nominees can be used

Residence Required

May Reside Anywhere

Local Director Required

No

Nominee Director Available (Recommended)

Yes. Provided by Maritime International Ltd

Location of Meetings

Anywhere

  

COMPANY SECRETARY

 

Secretary Required: Optional

Local Secretary Required

No

  

SHAREHOLDERS

 

Minimum Number of Shareholders: One

Eligibility

Any person or company of any nationality.

Disclosure to Authorities

Yes, but Nominees can be used.

Nominee Shareholders Available

Yes. Provided by Maritime International Ltd

Annual Shareholders Meeting

Required

  

SHARES

 

Minimum Number of Shares : One

Maximum Number of Shares

Unlimited

Bearer Shares Permitted

No

Classes of Shares Permitted

 
  

SHARE CAPITAL

 

Permitted Currencies : Any except RS (local currency)

Minimum Paid Up Share Capital

US $1.00

Maximum Share Capital

Unlimited

Recommended Share Capital

US$1,000

Requirement to be Paid Up

Yes

  

ACCOUNTS

 

Keep Accounts/Company Books : Yes

Audited Accounts Required

No

File Accounts with Government

No

File Annual Return

No

Bank Account Location

Anywhere

Exchange Controls

No