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Short and simple guide to setting up an offshore company
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Detailed fee schedule of our prices and packages
How to do it
 
How to set up offshore:

Most of the offshore countries we deal with have legal systems that are strongly related to English common law, some are not. In this section we will describe for you the basics of how to set up an offshore company according to the principles generally in force in these English law related offshore countries.

The principles that are followed to set up an offshore company in the other, non-English law related, jurisdictions are similar and will not be covered here. We will be happy to discuss with you the specific requirements for any of the offshore jurisdictions.

The entrepreneur or businessman setting up an offshore company must work through a number of issues, and make suitable decisions accordingly, regarding the new offshore company (or even if it is an off-the-shelf company). These are mainly:

The Company's name: The new company must have an approved name at the time of incorporation. Permission to use a name must be applied for, and permission granted by the appropriate Registrar. Names already in use, names too similar to names already in use, and unsuitable names are all likely causes for denial by the Registrar. Additionally, in many jurisdictions, certain words normally may not be included in a name; some examples are: bank, insurance, royal, government, etc. Also, it may be required to end the name with an appropriate term signifying the limited nature of the company (e.g. Limited, Ltd., Inc., Corp., etc.).
Shareholding: From the owners point of view, this is a very important subject, as a number of elements are involved here which can cause significant complications for the owner/operators of the offshore company if they are not easily or readily capable of resolution. How many shares to be issued, what types of shares, the value of the shares, voting rights, buyback rights, etc. The potentially complicating factors in an offshore jurisdiction include: minimum levels of capital required, minimum number of shareholders required, are bearer shares permitted, etc. Capitalization taxes can be a concern (if they exist in the jurisdiction being used).
Domiciliary Requirements: An international operation or entrepreneur contemplating the formation of an offshore company in a specific jurisdiction may not have any normal business requirements to be involved with that country apart from the offshore company. However, it is generally mandatory that the offshore company has both a registered office and a registered agent in the country of jurisdiction of the company. Some jurisdictions require regular director's meetings in the country; some require a company secretary to be appointed. Cornupia can generally provide a fast, efficient, and cost effective solution to many such problems (except local director's meetings).

All of these factors must be resolved for the particular jurisdiction chosen. Cornupia certainly recommends that the new company's owners use their services for professional company secretarial work to ensure that the company is in good standing at all times.
Memorandum of Association: Every company in an English common law based jurisdiction must have this item. This memorandum consists of the following: the company's name; the location of its registered office; a list of the purposes or objectives of the company (why was it formed, what is it supposed to accomplish), a statement of the limited liability of its members. Essentially, a company so organized can only do the acts authorized in its Memorandum of Association. Cornupia can supply a general memorandum for use by its clients in tailoring their own specific memorandum.
Articles of Association: The Articles of Association are the company's own internal regulations that deal with shareholding (e.g. the rights of each class of shareholder); the powers and duties of Directors; the company's accounts; dividends; reserves and quorums for meetings of shareholders and directors. Again, Cornupia can provide general articles for its clients to tailor according to their wishes. Different jurisdictions may have differing minimum numbers of shareholders, and typically there may be shareholders of record who will act as nominees or trustees to act for the company's beneficial owner(s) and thus safeguard the owner's confidentiality. Cornupia is thoroughly experienced in providing such services.




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