Since we have repeatedly covered the topic of offshore business, we believe you already know what it is and how it works. If you are not already familiar with the subject, we advise you to read a couple of our articles and then come back here ASAP.
Today, we will discuss the topic of types of addresses of offshore companies. But let's start a little from afar.
Who is a registration agent and why would you need them?
A registration agent is a professional organization licensed for trust activities. The license gives the agent the right to register companies in offshore jurisdictions and further represent the interests of the company to government bodies.
The registration agent performs the functions of the founder of offshore companies: signs the constituent documents, submits them to government bodies, appoints the first director of the company. The owner of the company or its director cannot directly register an offshore company.
With the help of the registration agent, the company also pays the annual government fee. If necessary, the agent requests certificates from government bodies and submits documents for the liquidation of the company.
The activities of registration agents are regulated and monitored at the state level.
What is the difference between company addresses: legal, mailing and business ones?
The legal address of the company is indicated in its constituent documents. Usually, it represents the address of the registration agent itself or the address provided by the secretary company in the country of registration (Scotland, Cyprus, United Kingdom, etc).
The mailing address of the company may coincide with its legal address. As a rule, in this case, a contract for further postal services is concluded with the secretary company. Generally, the mailing address can also be set in some other country.
The business address is the place of the actual activity of the company (it can be the address where the head office of the beneficiary of the company is located). Typically, the business address of the company is required to be indicated when opening a bank account.
Is an office in the country of registration of the company mandatory?
The presence of an office in the country of registration of an offshore company is not a prerequisite for its business activities.
However, the existence of a real office in the country of registration represents additional evidence that the company is a tax resident of that country. The decision about how appropriate it is to open a company office in the country of registration must be individually made.
If you’re thinking about opening your own offshore business, feel free to contact the Bizonaire team right away!
