Biznet is trusted advisors helping companies and individuals with the establishment, management and administration of Offshore Entities, Trust Formation and Holding Structures to meet the client’s specific objectives. Our broad range of expertise also includes corporate re-structuring, wealth protection, tax reduction, cross-border investment and easy access to the Middle East market.

Taking the right offshore jurisdiction is very imperative for several reasons including the political stability, efficient communications and a modern and reliable banking and financial system.Biznet Offshore helps you to figure out how to get the most from an offshore entity and which jurisdiction to choose.

The followings are few reasons why individuals and corporations choose offshore companies:

  • Investments in operating companies
  • Manage taxes
  • Protect assets
  • Manage risk
  • Avoid bureaucracy
  • Maintain privacy
  • Enhance asset

OFFSHORE COMPANIES BENEFIT:

More specifically, the reasons for going offshore and utilizing offshore companies for tax planning and offshore business include:

  • Free remittance of profits and capital
  • Access to top-rated debt history jurisdictions
  • Access to tax treaties
  • Security of property rights
  • Low fees & operational cost
  • Banking privacy
  • Availability of offshore experts
  • Ease of Reporting
  • Anonymity
  • Customs and duty exemptions
  • Exchange convertibility
  • Government cooperation
  • Fair treatment
  • Fewer restrictions
  • Sanctity of contracts
  • Foreign investment inducements
  • Tested legal systems
  • Higher yields and returns
  • Availability of sophisticated banking facilities
  • Legal Protection

At Biznet, we advise our clients from all sectors, on their specific benefits of an offshore company. The top beneficiary sectors and activities include:

  • Trading
  • Investment holding
  • Financing
  • Probate and Privacy
  • Professional services or Consulting
  • Patent, royalty and copyright holding
  • Property Owning Companies
  • Ship management and yacht owning
  • E-Commerce Companies
  • Personal and corporate tax planning

Our specialty Jurisdictions include:

  • Dubai Jebel Ali Offshore – JAFZA Offshore
  • Ras Al Khaimah Free Zone Offshore – RAK IC
  • British Virgin Island – BVI Offshore

The Objectives for which the JAFZA Offshore Company is established are:

  • 1. To Invest on Real Estate Properties (Dubai Properties, Nakheel and Emaar)
  • 2. To invest in Companies, Factories and Establishments
  • 3. To deal in the International General Trading of Goods.
  • 4. Invoicing International Clients
  • 5. Asset Protection
  • 6. Anonymity and confidentiality

STANDARD LEGAL REQUIREMENTS & SUPPORTING DOCUMENTS

A. INDIVIDUAL SHAREHOLDER(S)

  • 1. Passport Copy of the Shareholder(s)
  • 2. Copy of Immigration/Employment Status
    • a. Recent UAE Entry Stamp Page on Passport (For Non-Residents)
    • b. Visa Page Copy
  • 3. Proof of Address – Utility Bill, Telephone Bill
  • 4. Shareholder(s) Profile – CV/ Resume (Most up to date)
  • 5. Bank Reference Letter – Optional

B. CORPORATE SHAREHOLDER(S)

  • 1. Certificate of Incorporation of the holding Company [notarized and attested/ apostilled]
  • 2. Certificate of Good Standing of the holding Company [notarized and attested/ apostilled]
  • 3. Certificate of Incumbency of the holding Company [notarized and attested/ apostilled]
  • 4. Memorandum & Articles of Association of holding Company [notarized and attested/ apostilled]
  • 5. Board Resolution – Calling for the establishment of an IC or Offshore formation [notarized and attested/ apostilled]

C. INDIVIDUAL DIRECTOR(S)

  • 1. Passport Copy of the Director(s)
  • 2. Director(s) Profile – CV/ Resume (Most up to date)
  • 3. Director(s) Appointment Letter

The Objectives for which the JAFZA Offshore Company is established are:

  • 1. To invest in Companies, Factories and Establishments
  • 2. To deal in the International General Trading of Goods.
  • 3. Invoicing International Clients
  • 4. Asset Protection
  • 5. Anonymity and confidentiality

STANDARD LEGAL REQUIREMENTS & SUPPORTING DOCUMENTS

A. INDIVIDUAL SHAREHOLDER(S)

  • 1. Passport Copy of the Shareholder(s)
  • 2. Copy of Immigration/Employment Status
  • a. Recent UAE Entry Stamp Page on Passport (For Non-Residents)
  • b. Visa Page Copy
  • 3. Proof of Address – Utility Bill, Telephone Bill
  • 4. Shareholder(s) Profile – CV/ Resume (Most up to date)
  • 5. Bank Reference Letter

B. CORPORATE SHAREHOLDER(S)

  • 1. Certificate of Incorporation of the holding Company [notarized and attested/ apostilled]
  • 2. Certificate of Good Standing of the holding Company [notarized and attested/ apostilled]
  • 3. Certificate of Incumbency of the holding Company [notarized and attested/ apostilled]
  • 4. Memorandum & Articles of Association of holding Company [notarized and attested/ apostilled]
  • 5. Board Resolution – Calling for the establishment of an IC or Offshore formation [notarized and attested/ apostilled]

C. INDIVIDUAL DIRECTOR(S)

  • 1. Passport Copy of the Director(s)
  • 2. Director(s) Profile – CV/ Resume (Most up to date)
  • 3. Director(s) Appointment Letter

LOCATION

With Hong Kong’s tax rate being one of the world’s lowest and with its geographical advantages, Hong Kong is the most important gateway to China. It is a Special Administrative Region (SAR) of China and enjoys a high autonomy in the running of its affairs under the one country, two systems concept. There is no exchange control in Hong Kong and investors are free to transfer funds in and out of Hong Kong as often as they choose to. The HK dollar is pegged to the US dollar at 7.8.

LAW & TAX

Hong Kong’s corporate law is strongly based on the British common law and it is the Government’s policy to maintain a simple and low tax system. Only profits derived in Hong Kong are assessable for taxation and genuine offshore transactions are not subject to HK tax.

Current tax rates are:

  • Offshore income: 0%
  • Capital gains tax: 0%
  • VAT or GST: 0%
  • Onshore income: 16.5%
  • Individual tax rate: 15%

Hong Kong has entered into two important agreements with China:

  • The Closer Economic Partnership Arrangement (“CEPA”) – Briefly, products of HK origin are exempt from tariffs when imported into China.
  • The Arrangement of Avoidance of Double Tax – Briefly, the Double Tax Agreement with China provides certain incentives and should be thoroughly reviewed when structuring and planning investments into China to achieve tax efficiency. In practice, this means that foreign investors can use a HK company to minimize their tax exposure in China.

CORPORATE REQUIREMENTS

Each Hong Kong company must have:

  • At least one director who is a natural person, can be resident or non-resident. The second director can be a corporate director and this is permitted for companies that are not subsidiaries of public listed companies;
  • A local secretary and a local registered office which must be a physical address and not just a Post Office box
  • At least one shareholder, can be resident or non-resident. Details of the company’s directors, secretary and shareholders must be filed at the Companies Registry and are on public record
  • Minimum initial paid-up share capital is HK$1.00
  • Each year, the company must submit an annual return and penalties apply for late filings
  • All companies must obtain a Business Registration Certificate from the Inland Revenue Department (“IRD”) and are required to file a set of audited accounts and tax return with the IRD annually when the company has commenced business
  • English names and Chinese characters are permitted and can be included on the Certificate of Incorporation.

BANKING

Hong Kong banks are renowned for their well-established systems and are monitored by the Monetary Authority. We have good working relationships with many local banks and as a qualified intermediary, dependent on the choice of bank; our clients can be waived of the requirement to meet the banker.

BIZNET SERVICES

To summarize, we provide a one-stop shop service commencing with but not limited to the formation of the company, providing virtual office services, accounting & tax compliance, company secretarial and administration, bank account signatory and management, trade documentation and payroll services. We can also assist in establishing a physical office in Hong Kong.

Our highly-skilled and friendly team will be happy to deal with any queries that you may have on any of the following, together with any other points of company law that may arise. Some of our services include:

  • Company Incorporations
  • Provision of Nominee Director and nominee company secretary
  • Branch and representative office registrations
  • Registered office/correspondence address
  • Annual compliance and maintenance of statutory registers
  • Attendance at board meetings and minuting
  • Bank account opening.

NOMINEE DIRECTOR SERVICES

A Nominee Director acts as a third party, they are officially registered and act as director of an offshore company. In a number of jurisdictions, The Nominee Director Service has been put into place to ensure absolute anonymity. By law, in some countries, information on directors and shareholders must always be registered in the public files section of the Companies Registry. It is only with nominee directors and shareholders that a client’s confidentiality and complete anonymity is secured.

When managing business, letters of understanding, legal contracts and other related corporate documents; a signature and disclosure of the names of directors are usually required. By using a nominee director, again, only then are you promised complete anonymity. There are confidentiality and privacy reasons for assigning nominee directors, even in jurisdictions without publicly accessible records. For example, if someone is conducting a company search on a company with a nominee director, they will not be able to gain any information on whose name the nominee director may have been registered under. A nominee director can also help in making sure that the management and control of a company are established outside of a high tax jurisdiction.

To know more about Biznet Consulting services and pricing, contact our sales representative.