Frequently Asked Questions

Why should I use Raag Infotech to open my offshore company?

a) Our experts have many years’ experience in this field, building up an impressive network of offshore service providers.

b) We are members of several global tax planning organizations

c) We offer individual advice for all clients

d) We ensure our advisors are always aware of the latest laws

e) We are among the most competitive offshore providers

For further information, please read “Terms & Conditions” section.

What is an offshore organization?

First and foremost, it is essential to define the term offshore. Offshore relates to managing, registering, conducting, or operating in a foreign country, often with financial, legal and tax benefits.

An offshore company has a variety of uses and benefits for clients wishing to engage in international financial trade and investment activities. Depending on the specific offshore jurisdiction, an offshore company may have the following features and advantages: Ease of Incorporation, Minimal Fees, No Foreign Exchange Controls, High Confidentiality, and Tax Benefit

Why are your fees lower than those of your competitors?

We have our own offices or associates in each jurisdiction, so we cut out the middle man and offer a service from ourselves directly to your company.

How can I pay my company fees?

Payment can be made either by credit card, bank transfer or Western Union. Cash payments can also be made at our offices, if you find this convenient.

Does my company have to provide accounts to any tax authority?

In general, no; this is the reason why many offshore companies are founded. On the other hand, in a small number of jurisdictions, e.g. Cyprus, companies do need to produce audited annual accounts and, possibly, pay taxes (please see the table comparing jurisdictions, elsewhere on the site). Even though your company may not need to create these reports for tax purposes, you should still obtain advice from an advisory from the country in which you live, to ensure your obligations are fulfilled, if applicable

Which jurisdiction should I choose for my company?

Jurisdictions not only have some aspects of tax benefits but they are also good places to attract investors such as: stable politics, good fame, sophisticated corporate common law

Each offshore country has its separate benefits that can meet the customers’ strategic demands. OCC’ customer service team are trained to support clients to find out the applicable tax haven places for their business

The most important factor in choosing a jurisdiction is to be sure that your company will be incorporated in a country that has:

Reliable means of communication;

Political and economic stability;

Good reputation;

Sophisticated corporate laws;

We carefully list the service countries on our website from the lower fee countries to higher ones. Although some difference in fees, all of jurisdiction guarantee their confidentiality and integrity to investors. For good offshore countries with high-ranking currencies, clients will be introduced to Hong Kong and Singapore which are well done to attract businessmen due to their significant economy and tax benefits

How long will it take to receive my company documents?

This depends on which jurisdiction you choose; please check the small print for more information. Normally, you will receive the documents approximately two to six days after your company has been incorporated.

Can I choose the name of my company?

Most definitely! Our suggestion is that you do this. You will be requested to enter two company names on the application form, giving the preferred name first. We then have to check with the Company Registry from the offshore jurisdiction of your choice, to find out if either of the names can be used. If neither name is available, we will suggest some alternatives. We can also send you a list of shelf companies on request.

Why should use an offshore company ?

Minimize taxes

Registering an offshore company can legally minimize the tax obligations of a business and this is often the primary reason for incorporating a business offshore. Non-resident companies are often tax exempt or enjoy low levels of taxation depending upon the country. However, corporate taxation matters can become very complicated and it is very important to be guided by an experienced professional. Ensuring that there is no conflict with the tax obligations in the country or jurisdictions where the business operates is essential.

Confidentiality

Non-resident companies, in some countries, are not required to publish financial information or the details of directors and shareholders. Most offshore financial jurisdictions will not reveal any of this information to any third party unless criminal or terrorist activities are suspected.

Reduced administration

The legal obligations of any directors or officers of an offshore company are often much less. The need for accounting, other staff or a physical office can also be overcome with cost-effective virtual office services – saving time and money.

Asset protection

For those with international business interests, an offshore company can be valuable as a vehicle for holding assets such as intellectual property or real estate investments.

Lower set up and maintenance costs

Even with increasing anti money-laundering measures being applied and enforced to block funding for terrorism and prevent the proceeds of criminal activities from being hidden, the process of setting up an offshore company can be relatively fast and simple. This can translate into lower costs in both the establishment and maintenance of an offshore company.

Lower capital requirement

Registering an offshore company will require minimal capital, usually less than what is required for an onshore registration. In certain jurisdictions there is in fact no capital needed for registration.

Setting up an offshore company does not have to be complicated and can provide many benefits for individuals or companies involved in business across international borders.

Infinity has strong relationships with long-established and experienced international advisers giving us the ability to set up offshore registration for businesses in a variety of secure jurisdictions.

Do I need to come to bank to open an account?

You are under no obligation to open a bank account in person. The entire process can be completed by mail. Nevertheless, we can arrange a personal meeting with a manager of one of our banks, if you wish.

Do I need to come to bank to open an account?

You are under no obligation to open a bank account in person. The entire process can be completed by mail. Nevertheless, we can arrange a personal meeting with a manager of one of our banks, if you wish.

When do I have to pay my company’s yearly fees (Renewal Fees)?

You will be asked to settle the yearly fees prior to each anniversary of your company, not at the end of each calendar year. To avoid any last-minute rush, we will send you a renewal invitation two months before the anniversary.

In which countries can you open a bank account?

There are plenty of good reasons to examine offshore banking options, we can open accounts in

  1. Panama

Bankers in this country have decades of experience working directly with American clients. The legal system is highly compatible with the American one, thanks to its long history of involvement with international business interests. The country itself is quite stable, as the Panama Canal makes the continued reign of the government a matter of high importance for all major nations relying on the shipping passage remaining open.

  1. The Cayman Islands

This sunny island chain south of Cuba is famed both as a beach destination and as a tax haven for wealthy individuals and corporations. However, the Caymans have had a recent record of cooperating with the IRS, so they are not necessarily as ironclad a choice as they were in the past. Despite this, there are many banks still there that are experienced with American clients, offering full service around the world.

  1. Luxembourg

Luxembourg offers many of the advantages of Swiss banking with fewer taxes for non-residents. As one of the richest per capita nations in Europe, it’s also a beautiful cultural center. Convenient internet banking makes it a lovely choice, and it has yet to be intruded upon either by European bureaucrats or its own government.

  1. Switzerland

The Swiss are renowned as the secret bankers of the world elite, but that reputation has dwindled somewhat under pressure from EU countries – particularly Germany – to go after people trying to avoid taxes. Americans, so far, have been largely left alone in terms of their Swiss bank accounts, but the precedent is troubling.

Despite this, Switzerland is one of the most politically stable and professional countries to do business of anywhere in the world. Many Swiss banks also ask for high minimum deposits, making it tough for those outside of the jet-set crowd.

  1. Andorra

All accounts opened in this small nation nestled in the Pyrénée mountain range are denominated in a basket of currencies, making it a good choice for world travelers. Anonymous accounts are available, and the political situation is quite stable. The banking sector has been growing, and the country remains outside of the EU’s jurisdiction — although, of course, not immune to pressure.

  1. Mexico

Simply for convenience’s sake, Mexico is a better foreign banking destination than you might think. The large number of Mexican nationals living within the United States have encouraged Mexican banks to get up-to-date with online banking standards.

  1. Malta

One of the easiest European countries to get residency in, Malta also has a burgeoning banking sector with excellent international service.

  1. Barbados

Want to combine a Caribbean vacation and an up-and-coming foreign banking center? Barbados might be for you, and it’s a Commonwealth country.

  1. Belize

A small country south of Mexico, Belize has less than two decades of experience providing foreign banking services. However, what services they do offer are world-class.

  1. Denmark

While Denmark doesn’t technically offer anonymous bank accounts, with some expert help you can set up something resembling that quite quickly. For foreigners, it can be an excellent choice, particularly if you go to Northern Europe often for business or pleasure.

How do I use my offshore account funds?

As with any other bank account, your funds will be managed with, cheques, debit/credit card transactions, or cash deposits/withdrawals at the bank. Internet banking will also be available to you.

Which banks do you use?

We are unable to disclose the establishment names for legal reasons. Nonetheless, we can assure you that we only deal with the most reputable banks, which can offer you a professional service in all areas (anonymous debit and credit cards, internet banking etc.).

Can the same person be a shareholder of the company and act as its director at the same time?

Yes, in most jurisdictions. It is common to find that a company shareholder is also a director.

Does opening an offshore company mean that a bank account will automatically be opened for the company?

No. If you tick the bank account opening option, we shall-in close collaboration with yourself-choose the bank which most suits your needs from among our network of prime banks. The bank will then decide if the account can be opened, depending on how comfortable they are with the nature of your business and the personal information provided by you. However, in more than 95% of cases, we are able to open an account for our clients

Do I have to pay up the authorized capital? If yes, when?

You do not have to pay up the authorized capital at the time of incorporation or when you open an account. If the company cannot pay its debts, the shareholders have personal liability to the limit of their share which has been declared.

Can my bank account be in more than one currency?

After opening your bank account, a multi-currency account can be selected, allowing you several currencies in the same account. The bank then automatically opens a ‘sub-account’ when a new currency is used, meaning you will not be liable to pay exchange fees.

Is it possible to open a private account as well as an account in the name of my company?

Yes. We can also take care of opening a private account in addition to the account in the name of your company.

What is a nominee director?

A nominee director ensures the highest level of confidentiality; the director’s name appears in the business contracts and company documents, as well as on the jurisdiction’s business register. When a nominee director is appointed, the nominee and client will sign a Nominee Service Agreement. This guarantees that the nominee can only act or sign documents with the client’s prior permission. GWS provides professional directors who will perform with the highest level of veracity and privacy at all times.

What is a nominee shareholder?

A nominee shareholder shields the real company owner from being connected publicly with the company. When a nominee shareholder is appointed, the nominee and client will sign a nominee service agreement (declaration of trust). GWS provides nominee shareholders who will perform with the highest level of veracity and privacy at all times.

What is notarization and apostile?

Notarization means that any documents issued for your company will be checked by a notary (usually a lawyer) to confirm their authenticity. An apostille is a form of authentication for your company documents, carried out by the government of the jurisdiction where your company has been incorporated and internationally recognized This option is strongly recommended, particularly if you open a bank account or your company documents are required for any legal proceedings, e.g. to conclude a contract.

What are shelf companies?

A shelf company, or “off the shelf” company, is one which has already been set up and is ready for a client to buy, greatly reducing the time it takes to create and register a company. The new owner can then begin trading under the company name. The main advantages of “off the shelf” companies are:

Significantly reducing the time, it takes to create a new company

The company appears to be well established, even though it is actually new

In some jurisdictions, a fixed business age is necessary for contract bidding

NB: a shelf company is likely to be costlier than a newly incorporated company, due to its age.

When will I receive my corporate documents?

This depends on which jurisdiction you choose; please check the small print for more information. Normally, you will receive the documents approximately two to six days after your company has been incorporated.

Do I need to visit your offices to register my offshore company?

No. The whole process can be completed by mail.