i checked this out once and found it to be so very complex expecially if you are a us citizen. here is a email i received from a compnay who was explaining what was involved. its kind of long so please excuse.
Considering your needs to incorporate a trading company for your worldwide
business, while you are a US citizen/resident, and most probably wishing to
keep all your transactions profits offshore, the recommended alternative is
to incorporate in Belize, for a several number of reasons as below
indicated.
However, if incorporating in Belize, you must notice that this is an
offshore jurisdiction and eventually it may not be too recommended to work
with it in the US market. You need to check.
However you have the best solution which is to do all your trading, mainly
that one related with the USA, through a UK (United Kingdom) Private limited
Company which will offer an excellent degree of comfort and credibility in
your transactions with USA.
As this UK company will be taxed on all its profits even those incomes
generated internationally, you can always have a choice to avoid such
taxation:
1 - To use the Belize company as the Principal, on which behalf the UK
company will act, through an Agency Agreement established between both
companies, and under which the UK company will deal directly with the
buyers/clients, will be able to invoice and receive funds, but always on an
agency basis, with the obligation to repay the Principals for all funds
received on its behalf. The UK company will charge a commission to the
Belize company, he Principal, and this will be the sole income on which the
UK company will be taxed. We shall prepare you all necessary documents and
agreements at no charge, as this s a common situation we handle regularly.
2 - Doing business with US, wishing to build up the above structure, your
name cannot appear on the company that will deal directly with US, for a
question of protection for yourself, and thus keeping full anonymity and
confidentiality of your name regarding its connection to the company.
We suggest to use our nomine services, which information is below indicated
for your guidance.
There are many countries all over the world that are considered "tax
havens". These jurisdictions generally have no taxes (on foreigners) and
strict privacy laws. The question is not, "which is the best", but "which is
the best for a particular situation" and in your case to avoid any lawsuits.
I wish to provide you very relevant information for you about Belize,
although a bit extensive, but which will make you understand the reason why
of our recommendation.
First, the tax havens under consideration must have no taxes of any kind and
strictly enforced privacy laws. Next, English must be the main language, the
judicial system must be based on British Common Law, the country must have a
long history of political stability and must be completely independent from
one's home country. Ideally, the tax haven should be geographically close to
home to allow for swift travel should a client desire to visit.
This narrows the field down to The Bahamas, Belize, The British Virgin
Islands (BVI), Nevis and St. Kitts, and The Turks & Caicos. Each of these
jurisdictions forms completely private IBC's that are authorized to do
business worldwide (except in the country of incorporation).
An IBC - International Business Company - formed in one country is just as
private and functional as an IBC formed in any of the others. Belize, The
Bahamas and The BVI (in that order) are therefore the best jurisdictions. It
is these three countries that ATRIUM recommends, with Belize receiving the
highest recommendation.
Why Does Belize Receive A High Recommendation?
Belize meets all of the requirements for a preferred tax haven, security and protection:
· Belize is an Independent Country.
· English is the main language.
·Laws are based on British Common Law.
· Belize has no currency exchange controls.
· Belize has strict privacy laws; violations are punishable by jail time and heavy fines.
· Belize has no tax treaty with Canada or the U.S.
· Belize has not signed the U.S. Mutual Legal Assistance Treaty (Belize and
The BVI are the only above recommended havens that have not).
No other jurisdiction has proven that it will back up its privacy laws as
strongly as Belize. The only challenge to Belize' sovereignty came in 1995
when the Supreme Court of Belize successfully kept the country's privacy
laws from being breached by the United States Securities and Exchange Commission.
We can offer you a company formation with and without nominee services - information below.
Incorporation costs (in Euros):
Below indicated prices do not include:
- Trading office with mail services - just a registered office (address) for
incorporation purposes;
- Nominee services - provision of shareholders and directors
- Local annual flat taxes/government fee
Incorporation in Belize - 2,250.00
Annual maintenance fees - 1,050.00 (*)
Incorporation in UK - 1,530.00
Annual maintenance fees - 950.00 (*)
(*) 1st year fees will be payable together with incorporation fees.
Offshore Environments:
To have a more complete information about the jurisdiction and the Company
Compliance, please kindly visit our web site <
www.atrium-incorporators.com
> and from main menu, select - < Company Formation - Offshore Jurisdictions.
Otherwise, just link directly to the following URL's:
Belize -
http://www.atrium-incorporators.com/default.asp?nc=3712&id=30
To have an idea about the Nominee Structures - attached to our proposal to
use the UK company - please check following URL -
http://www.atrium-incorporators.com/default.asp?nc=6846&id=3
Very important to see all information in above page,
Nominee Services - Optional Services:
Provision of Nominee Shareholder - 350.00/annum
Provision of Nominee Director - 450.00/annum
Provision of Company Secretary - required - Euros 250.00/annum
Nominee Services are recommended to those people who wish and require 100%
privacy, confidentiality and anonymity as to his relationship with the
company. In such case, your name will not appear on the Registrar of
Companies, but the nominees' names. You can however manage the company
through the above referred P.O.A. which can be issued as per your own
verbiage or ours. Attached is a draft for your analysis, to fasten up
things, and maybe to help you draft your own one, as most suitable for you.
Full serviced Virtual Office in a major international financial centre -
London - Optional Services - a service provided for those who incorporate
offshore but simultaneously wish to offer the company a high degree of
credibility internationally, and simultaneously grant everyone, client,
provider, or official entities, to contact you, and that such contact will
reach you, either by mail, phone or fax, and that you can receive it and
process it.
- Mailing address with mail re-forwarding services - 580.00/annum
- Dedicated and exclusive telephone line - 450.00/annum
- Dedicated and exclusive fax line - 450.00/annum
Remark 1)
you can select and contract any of the above services with us.
Remark 2)
If choosing the Full Service Package cost will be reduced to Euros
1,180.00/annum only - and will apply for both companies - Belize and UK.
Annual government License Fees:
Belize - Companies with an authorised capital up to US$50 000 pay the sum of
US$100 per year. Companies with a share capital over US$50,001 pay the sum
of US$1,000 per year. Companies, which have some or all of their shares with
no par value, pay the sum of US$350 per year.
Opening of Bank Accounts:
We do currently work with Barrington Bank - Antigua/West Indies and First
Caribbean International Bank (attached to Barclays Bank) in Turks & Caicos.
If either of these banks or jurisdictions to set up your offshore bank
account suit you, we shall be very pleased to assist you. All of them will
provide you Debit/Credit/ATM cards and Secure Net Banking.
In case you will incorporate with us, any of these offshore accounts will be
provided free of charge, as included in your package - a courtesy of Atrium
Incorporators.
However, you are always free to open your company's bank account by
yourself, with some other bank of your selection.
We shall provide you all documents duly certified and apostilled. Price is
included in our above incorporation fees. Please note that this is a
requirement in case you may need to open a bank account, which I presume it
will be your case.
And if you wish to open more than one bank account, we suggest you to
request/order to separate full sets of Notarised documents - you will keep
the original one with you, and will us the above notarised copies to deliver
to the banks. This is optional, as you can also take notarised copies if you
wish from a local public notary. Cost per notarised copy - Euros 125.00
Inclusions:
Above price includes Incorporation Costs and 1st year Fees as per
information
provided by/at Atrium's web site, on link related to "Prices and Quotations"
.
Certificate of Incorporation
Memorandum & Articles of Association
Share Certificates
Provision of Offshore Corporate Bank Account/s
Certificate of Registered Office Services for 1 year period - 1st year fees
Certificate of Registration Agent Services for 1 year period - 1st year fees
Certificate of Company's Maintenance Services for 1 year period - 1st year f
ees
