Offshore Company Establishment

Offshore Company is a form of foreign company, fully recognized by international law. It is a legal person which has the right to take any legal action and has an unlimited lifespan, as long as it covers its obligations to the state in which it was established.

The process of this establishment is undertaken by authorized legal or natural persons in the respective country which allows the establishment of Offshore Companies, such as e.g. in the Marshall Islands, the Seychelles, Cyprus, Liberia, the British Virgin Islands, etc.

Through these, the Company is established and legally registered in the Registrar, always in accordance with the instructions and orders of the individual concerned.

Initially, the name of the Company is chosen, the fees are paid and it is established almost immediately. It is noted that the name of the Company before being registered, is checked and then accepted, only when another Company with the same name has not already been registered.

The authorized person, who established the Company, ensures that the annual fees of the Offshore Company are paid to the state in which it was established and at regular intervals, in order to maintain the legal status of the Company in accordance with the laws and against third parties.

The documents that constitute the existence of the offshore company are the founding document of the Company, which is known as Articles of Incorporation, or as a Memorandum of Association, which certifies the establishment of the Company and contains basic information such as the name of the Company, the type of shares, the purpose of the establishment of the Company, its activities and the internal regulation, which is known as By-laws, or Articles of Association and includes the operating rules of the Company.

The “types of directors” and the “types of shareholders” are the natural persons who appear as directors and shareholders of the Company, as long as the real owners, or directors, wish to maintain their anonymity.

The advantages achieved with the use of Offshore Companies are the Protection of the owner from personal responsibility since all transactions, contracts, and other activities are done on behalf of the company, the Absolute coverage of the activities and assets of the real owner, the reduction of taxation, greater flexibility because the various activities are carried out through the Offshore Company, rather than by the individual concerned as a natural person, complete anonymity and protection against third parties and increased financial isolation in a global information exchange environment and easy and anonymous transfer of almost all of assets.