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This article takes some of the mystery of the offshore incorporation process. It brings you a summary of the different stages which the incorporator goes through when setting up an offshore company.


JURISDICTION


There are many optional offshore jurisdictions in which you can incorporate your business. In this guide we focus on two of the most popular jurisdictions and list other separately.


Cayman Islands


The Cayman Islands consist of a group of three islands in the Caribbean. The main island- Grand Cayman- is situated at approximately 1100km south of Florida. The three islands have a total area of 260km?, the Grand Cayman by itself having an area of 200km? . The population of all three islands is of approximately 30 000 inhabitants most of which reside on Grand Cayman where the capital Cheap Adidas NMD Mens , Georgetown, is located.


The Cayman Islands are a British colony and the United Kingdom retains the right to legislate. They have a special statute that has allowed them to become an important Offshore Financial Centre where all the big banks are established or represented for years. In this jurisdiction there are no income tax or currency exchange controls. Approximately 50 000 companies, 450 to 500 insurance companies ( most of which are captive of great International groups ) and between 600 and 700 offshore banks are incorporated in The Cayman Islands. The islands are an appealing jurisdiction to open offshore banks.


During the year 2000 Cheap Adidas NMD Womens , the Cayman Government decided to negotiate a "Goodwill" agreement in order not be listed as " Non Cooperative Country" by the OECD's Financial Action Task Force. The name of Cayman Islands was not anymore on the June 2001 report (the latest one) probably as a result of negotiations with the FATF. Will this lead to the removal of bank secrecy and exchange of tax information with the members of the OECD ? This yet unanswered question leads us not to recommend this jurisdiction as an alternative on a long-term basis.


However, it is correct to say that this situation will cause no problems whatsoever to our existing clients since all the companies created for them were done with Nominee Shareholders, Nominee Directors etc. The names of the Beneficiaries are not registered on Public or Private Records in Cayman Islands. Actually Cheap Adidas NMD Shoes , and this is true for all of our tax-optimizing structures, the only entities that know the names of the Clients are the banks themselves, those chosen for the opening of the commercial accounts. For obvious reasons of confidentiality and assets protection we always recommend to select a different Jurisdiction for locating the Bank operations of your newly formed company.


Seychelles


Seychelles International Business Companies are useful alternatives to offshore companies established in jurisdictions such as the British Virgin Islands. In December 1994 the Seychelles enacted legislation enabling the registration of International Business Companies Cheap Adidas NMD , International Trusts and the licensing of International (free) Trade Zone Companies. More recent legislation covers the licensing of offshore banks, offshore Insurance, mutual funds activities and the regulating of a securities industry. The new laws were a result of inte. Cheap Adidas NHL Hoodies Cheap Soccer Jerseys Free Shipping Cheap NHL Jerseys Free Shipping Cheap NBA Shirts Free Shipping Cheap MLB Hats Free Shipping Wholesale Shirts Wholesale Shirts Wholesale Hats Wholesale NBA Hoodies Wholesale NCAA Hats