NOMINEE STRUCTURES
PRACTICAL CONSIDERATIONS

Any assets should be in the ownership of the Offshore Company.
If physical goods are sold, these are owned by the Offshore Company and sold for it by the Nominee Company. Title remains with the Offshore Company.

Money is received into a bank a/c, possibly offshore, in the name of the offshore company and controlled by the directors of the Offshore Company (or its Beneficial Owner).

A second bank a/c, usually offshore, is opened to receive the fee income of the Nominee Company and to handle the payment of its expenses.

We recommend that the two companies have different directors and shareholders.

Contracts with the Nominee Company must be signed outside its country of incorporation. If the company is trading in Europe, it will need to register for VAT.

It is preferable that the directors of the Nominee Company live OUTSIDE the jurisdiction of its incorporation - although one resident director will soon be required in the case of Ireland. The directors of the Offshore Company should also be non-resident. We can provide suitable directors subject to certain safeguards.

TAX CONSIDERATIONS
Non-resident individuals or corporations only pay United Kingdom tax on their United Kingdom source income. The use of a Nominee Company does NOT cause a liability to United Kingdom tax for the offshore principal. Profits made by the Resident Nominee Company are taxed at the United Kingdom corporate tax. The extraction of residual profits from the Nominee Company's activities may result in a liability to withholding tax, although planning can be undertaken to reduce or eliminate this. The client still has, of course, responsibility to pay tax in his own country.

ONGOING ADMINISTRATION
Our firm can provide the ongoing administration of the companies at a statutory level only or at a fully comprehensive level to include the operation of the Nominee Company and its invoicing, banking and VAT arrangements (your option).

AUDIT
The Onshore Nominee Company will need to have Audited Accounts prepared annually by an independent auditor. These are submitted to the tax authorities and provide the basis for computation of tax.

OFFSHORE INCORPORATION SERVICES
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TRUSTS
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NEW ZEALAND OFFSHORE FINANCIAL INSTITUTIONS
SECURE & CONFIDENTIAL NOMINEE STRUCTURES
INCORPORATION IN EUROPE AND
MAJOR INTERNATIONAL OFFSHORE CENTRES
OFFSHORE BANKING
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