All You Need to Know About Forming an Offshore Company

Setting up an Offshore Company

You can set a company and run the business as a private limited concern. Once you do so, your company gets:

• Legally separated from those who run the show
• A separate section of finances different from the personal ones
• The option to retain any amount of profit it makes after payment of the tax

What is it that you Required?

If you are planning to set up a limited company, it may not be a difficult task. You just need to register with the Companies House. In other words, it is often called INCORPORATION.

To handle the process, you will require:

• A suitable name for the company
• A suitable address for the company
• A director, at the least
• Detailed info of the shares for the company
• A shareholder, at the least
• Checking with the SIC code

Additionally, you will also Require:

• Shareholders agreeing to form the company along with written rules (aka articles and memorandum of association)
• Details of all those who have significant control over the company (the common example will be those having over 25% share or voting rights.)

These details are essentially required when setting up a limited company. Once you have all these details, the company registration process will move on smoothly.

Registering the Company

Well, registering an offshore company is possible if you have all the essential requirements mentioned above to set up the venture. The offshore company registration can be done online if has the limited number of shares and it also uses the standard Articles of Association. It will cost £12 to get the registration done. The payment can be done through credit or debit card. If you have a PayPal account, then also you can make the payment. The company registration can be done within a period of 24 hours. By the way, if you don’t want to use LIMITED in the company name, it is necessary to get the company registered using FORM N0 1. This must be done through the post. Additionally, you can also register for Corporate Tax, PAYE, and also to notify the HMRC about your employment with the company.