International Offshore Services
We support clients to truly branch out and avail the opportunities all around the world. We are able to provide this function due to our diverse team and network partners. We understand the international business culture and will help you work with people from other countries.
Feenix Consultant – As Business agents, We can help you with Incorporation / Restructure / Relocation to an Offshore or Other Foreign Jurisdiction.
On Ground Support
Even more importantly, we know about the legal ramifications of international deals. We know the laws of different countries and help our clients comply with them. We allow you to enter international waters avoiding major pitfalls, as we use our international experience to give your company the advantage of experience
While you may know what you want to achieve, it may be unclear how to go about it. And, even if you can handle the process, it does not make sense to ignore local knowledge, experience and core business functions. It is in such situations that our services come into play. We’ll take care of everything for you as you maintain your attention on the day-to-day business.
Some of the services we can assist you with include:
- Opening bank accounts in foreign jurisdictions
- Incorporating your company in foreign jurisdictions
- Business expansion
- Branding and marketing
- Business advice including Tax consultation
- Procurement of Notarial and Legal Services.
Is your business seeking additional options to generate more profit? We can help you with a full ‘End to End’ Service for various jurisdictions.
You can transform your business to a revenue-producing asset that lets you work as much or as little as you want.
Strategic & Tactical Planning
The UAE provides a prosperous business environment for the worldwide entrepreneurs and their companies. They have Excellent infrastructural facilities coupled with professional expertise and personalised services give the UAE an edge over other countries when it comes to relocation or expansion, or investment opportunities:
- Owners who have incorporated in the UAE only need to pay income tax if they are in the foreign banking or oil and gas industry. Otherwise, corporations are exempt from taxation in the UAE.
- The paid-in minimum capital requirement for owners choosing to incorporate in the – UAE is AED 0. So, there is not a capitalization requirement.
- No sales tax in the UAE.
- The UAE houses a diverse, growing economy that continues to expand and offer new business opportunities for corporations
- Competitive financing costs, high levels of liquidity and strong banking system
- Anonymity with the provision of a nominee director and shareholder to clients.
- Dedicated Consulting
- 0% Income Or Corporate Tax
- 100% Foreign Ownership In Free Zones And In Mainland
- 100% Profit Repatriation
Strategic & Tactical Planning
The United States has the largest economy in the world where many startups and existing SME’s want to target. This means those brave, tenacious enough and the first in the market to expand to the US have the potential to reach new customers, diversify risk, leverage resources, and potentially increase profits.
We help clients accross the globle with our one “stop shop” to expand their business in the US.
- Name Availability Search;
- US Entity Formation;
- Managing EIN Application;
- Draft and review of incorporation agreements and relevant operating agreement required for the new US entity;
- Express Bank Account Set Up;
- Stripe Payment Gateway;
- US Mailing Address;
- Support with IRS Tax Filing (Form 5472/1120);
- State Compliance Filing;
- Monthly Registered Agent;
Expand your business via franchises, increase your marketing efforts, form alliances or new products or services.
- Create economies of scale.
- Attract new customers
- Diversify your products
- Increase your market influence
- Amortise costs
- Dedicated Consulting
Singapore offers exceptional infrastructures, lively living spaces, and sound governance systems worth experiencing. Additionally, Singapore’s market economy and banking system are inventive and friendly to enterprises and individuals, attracting local and foreign investors.
What Is An Offshore Account?
It is an account held outside the owner’s country of residence. An offshore account;
- Is available on popular banks
- Operates just like the standard account, and
- Is open to anyone working abroad who transfers money between countries.
If you own an offshore account, FeenixConsultant can provide you with all the necessary means to address each step of a process from end to end. We also advise with;
- Legalization or notorization and incorporation of companies
- Protecting customer privacy
There are different types of accounts, but they require a minimum opening deposit. Singapore offers sufficient conditions for opening an offshore account.
Classification of the Offshore Account
The usual type of offshore account is the saving accounts, which are usually varying or permanent. The variable rate account is easy to access funds, but the fixed-rate account holds the money in the account for one to five years. Some large retail banks offer current offshore accounts with debit and credit cards and the ability to perform daily banking operations.
Guides of Opening an Offshore Account
The requirements and offshore processing account are the same as opening your regular bank account. You must indicate your personal information, including full names, birth date, and address.
Offshore banks also ask for additional documentation to fight frauds, including:
- Your existing bank information, like the references and statements
- Features of your daily transactions
- Details to the particular type of account that you want to open
- Vital documentation of the company if you wish to open a business account
The Currency Option of Offshore Account
It is critical to decide which currency you wish the funds to save in because it affects the interest rates and the value of what you have in the account. When you opt for the multi-currency option, you will be able to conduct transactions in other currencies. However, it is essential to look at the fees structure before proceeding further.
How to Operate the Offshore Account
Operating the offshore account depends on its type and the purpose it serves. The current offshore account allows you to obtain money daily, while the savings accounts have restrictions.
Numerous people tend to use offshore banking because it becomes easy to access banks and control money in different countries. Also, the money transfer process in an offshore account is quite simple.
Benefits of Having an Offshore Account in Singapore
- You will effectively manage to pay or receive payments in different currencies
- The foreign exchange feature lets you connect the currency prices early, removing the variability that might be trouble dealing with globally
- Offshore banking is secure, bringing calmness to people from financially unstable countries
- Offshore banking is convenient, especially when performing financial transactions in numerous countries
Pros of Offshore Account
1. An Appealing Tax Benefit
When you open an offshore account, you will enjoy reduced taxes compared to opening a statement in your country. Additionally, you are not afraid of double taxation because Singapore has agreements on double taxation with many countries. Yet it is essential to consult the tax expert because it automatically changes the way you file tax. Keenness is essential because when you file the tax improperly, you fall in trouble with the law.
2. Excellent Security
Singapore has unique and robust regulations set by the government. When you open an offshore account, you are confident that your resources are safe.
Opening an offshore account is essential if you travel to Singapore for business or education purposes. You will have easy access to the ATM’s funds every time you are in need. In addition, service utilities, including internet banking, will enable you to hold the funds every time you require them.
The offshore banks have significant levels of privacy than other banks, and the information does not get into the third party.
Cons of Opening the Offshore Account
1. Requires Sizeable Capital
One of the setbacks is that you require significant capital to start, ranging from $ 200,000 to $300,000, depending on the bank.
You can struggle a lot, especially when you are not familiar with the country you are applying for the offshore account. It becomes more complex, especially when you don’t understand the country’s language and some offshore banks need physical documents.
FAQs on Offshore Accounts
A. Is Offshore Banking Legitimate?
Offshore banking is lawful. However, if you wish to obtain a great benefit, you must always pay the tax on your income and hold the money you receive via legal practices. Always ensure that you seek advice from business agents, especially when you are unsure about the set rules in offshore banking.
B. How Safe Is Offshore Banking?
Offshore banking is secure, especially when you open an account in a stable economy country. Many offshore banks have distinctive protection programs.
C. How Do I Open An Offshore Account?
Different banks and countries have different ways of opening offshore accounts. However, in Singapore, the entire operation happens online. Ensure that you prepare all the vital documents earlier to see the success of the whole process.
D. Is Offshore Banking Justifiable?
If you are an entrepreneur who has frequent business travels, then an offshore account is worth it. Always ensure that the country you wish to open the offshore account has solid regulations and perfectly secures people’s properties.
Free Zone Company
This type of business is 100% owned by the person who set it up. You don’t require a sponsor or an agent to act as liaison to manage the venture. There is no restriction tying you down.
100% ownership, 100% repatriation of profits, 0% taxation
This type of company refers to a business operating outside its boundaries
The capital of the company can be any amount divided into any denomination.
• The minimum number of shareholders and directors is one.
• All shares must be fully paid when allocated and no bearer shares or differential classes of shares are allowed. However, there is no requirement to deposit the capital in bank.
• 100% foreign ownership permitted and 100% tax and duty exemption exists on UAE off shore incorporation companies.
This type of company is the easiest to set up, with little restrictions. The tax per revenue is 0%. Main advantages of having a mainland company in the UAE is that you can do business in the Mainland, Free Zones and outside UAE.
Good strategy is the antidote to competition. Strategic thinking is the process of developing a company strategy that defines your companyu value proposition and your unique value chain.
Over the past decade, Offshore and so-called Free Zone companies based in the UAE have become very popular, with more and more business and investors choosing one of the tax-free or low-tax zones in the Emirates to start a business.
With a simple, favourable and flexible economic policy and legislation, the UAE offers the best place for companies and startups to operate.