Offshore Company Formation

The larger offshore company formation specialists will have offices all around the world. Ocra Worldwide on the Isle of Man, for example, has 26 offices worldwide - ranging from London to Hong Kong, via Russia, Greece, Luxembourg and Singapore - and points to the fact it can call on the resources of more than 300 professionals, including lawyers, chartered accountants, secretaries, economists and bankers.

Setting up an offshore company can cost as little upfront as a few hundred pounds, but the administrative costs are ongoing, so it is not a venture to get into with the idea that it’s going to be an insignificant financial commitment.
Setting them up is the easy part. You can either go directly to a company formation specialist, as mentioned above, or you can ask a financial adviser, legal or accountancy firm, private bank or portfolio manager to act for you.
This second route may well suit those expatriates who are unsure of the tax position of offshore companies, in relation to their own circumstances - if they are returning to their country of origin at some point, for example.

Offshore Company Formation & International Tax Planning

International tax planning is a highly complex area and professional advice comes highly recommended. John McKellar, at Close International Private Banking in Guernsey, says that most of the business it would normally do in this area comes through lawyers and accountants. “You don’t normally get people walking in off the street.”