Setting up Offshore Companies
For many, setting up offshore holding companies can be a daunting and complicated task, and this is why you need to seek the expertise of a professional accounting firm with substantial experience in offshore structuring and international tax planning.
At Pauliana Said Accountancy and Tax Consultants, we have a client-centric approach that ensures tailor-made solutions for businesses seeking to establish business outside Malta or the entity’s home base. We are geared to assist our clients in setting up and managing offshore companies with all their complexities. We help you understand and handle international legal, banking and regulatory requirements whilst maintaining transparent and ethical practices.
There are many reasons why a client may opt to have offshore holding companies. Some benefits include lower tax rates or exemptions (enjoyed in certain jurisdictions), asset protection and securing of wealth from political or economic instability, maintaining confidentiality or privacy of investors, streamlining cross-border investments and reducing the regulatory reporting burden. However, with the benefits, one cannot exclude the legal and compliance considerations brought to the forefront. Adhering to international laws, including anti-money laundering (AMI) regulations, and ensuring that the holdings set up are legitimate and well-structured is crucial, and our experts will ensure that your offshore company is fully compliant with evolving global financial standards.
Our services in this field cover initial consultation and jurisdiction selection. This means advising on the best offshore location based on client needs. The right choice of jurisdiction is crucial to ensure that our client’s goal is met. Malta-based clients usually opt for offshore jurisdictions such as the British Virgin Islands, Cayman Islands, Isle of Man, Luxembourg and others. Once the jurisdiction is chosen, the next step is company registration, which includes incorporation, licensing, and regulatory compliance
Another aspect that comes into play in our work is structuring the company for efficient and optimal tax planning while ensuring legal compliance. We also handle corporate governance and administration, including secretarial services and registered office solutions. Our comprehensive suite of services includes handling statutory filings, record-keeping, and correspondence to ensure that the company remains in good standing with local authorities, as well as assisting in board meetings and corporate documentation management.
The setup of an offshore company requires an offshore bank account. Apart from facilitating setup in leading offshore hubs, we also discuss multi-currency banking solutions (when needed) and any other services, such as merchant and payment processing, as required for the smooth running of the business. Once the setup is ready, we will provide ongoing compliance and annual and regulatory reporting in line with CRS (Common Reporting Standards), Anti-Money Laundering (AML), and Know Your Customer (KYC) Compliance. Operating within the legal complexities requires ongoing expert guidance, and in this regard, we also advise our clients not only about updates in offshore laws but also about contract drafting and review, dispute resolution and asset protection and facilitating the transfer of an offshore company.