Offshore Company FAQ: Registration, Banking and Tax

Yes, registering a company abroad is legal. The owner still has to follow the rules of their own country on tax residency, controlled foreign companies (CFCs), beneficial ownership disclosure and reporting.

You can buy a shelf company. The bank account does not pass to the new owner automatically: the bank checks the owner and beneficial owners again under its own rules. Before the deal, we check the company’s documents, history and the bank’s position; more details are on the shelf offshore companies page.

The buyer goes through KYC with the registered agent, the former directors resign, new ones are appointed by resolution, the shares pass under an instrument of transfer, and the changes are then filed with the registry. In Hong Kong, a change of directors is registered on form ND2A within 15 days; in the UK, information on people with significant control within 14 days. The procedure by country is on the shelf companies page.

Yes. The decision is made by the bank or payment service provider after its own checks. Registration alone does not guarantee an account, so it is better to assess bankability before registering: the business activity, clients’ countries, beneficial owners and source of funds. How we prepare for this is described on the account opening preparation page.

Yes, if the bank’s country takes part in automatic exchange under the CRS standard. Financial institutions identify accounts of tax residents of other countries and report information on them annually to their own tax authority, which exchanges it with partner countries. More in the article on CRS in 2026.

The choice depends on the task. For holding companies, people often consider the British Virgin Islands and the Cayman Islands; for trade with Asia, Hong Kong and Singapore; for services to European clients, a UK Ltd or an Austrian GmbH. A table with registers and obligations is on the offshore jurisdictions page, and a breakdown by industry is on the structures for business page.

Hong Kong is a low-tax jurisdiction with a territorial system: profits tax is paid on Hong Kong-sourced profits at 8.25% on the first HK$2 million and 16.5% above that amount. People call it offshore out of habit, although a local company has a company secretary, an annual NAR1 return and tax obligations. Details are on the Hong Kong offshore company page.

Singapore taxes the chargeable income of local and foreign companies at 17%. A Singapore company must have a director ordinarily resident in the country and a company secretary. It is outside the group of classic low-tax jurisdictions; businesses choose it for real operations in Asia. Details are on the offshore company in Singapore page.

Under the EU Council conclusions of 9 October 2026, the list of non-cooperative jurisdictions (Annex I) includes American Samoa, Anguilla, Guam, Palau, Russia, the Turks and Caicos Islands, the US Virgin Islands and Vanuatu. The British Virgin Islands and Panama are listed in Annex II with commitments to reform. The status of every jurisdiction in our catalog is in the table on the list of offshore jurisdictions page.

The cost is made up of the government fee, agent or company secretary services, the registered address, KYC checks and annual renewal. Government fees are published by the registry: for example, the Hong Kong Companies Registry charges HK$1,545 for electronic incorporation of a private company and HK$1,720 for a paper filing. We prepare a separate estimate for the first year and for renewal after receiving your request.

The annual budget is made up of registry fees, agent and address services, reporting and accounting. The government part is published: an annual NAR1 return in Hong Kong costs HK$105 when filed on time, a confirmation statement in the UK costs £50 online, and the annual fee in Nevis is USD 300. A full calendar by country is in the guide annual offshore company maintenance, and we will calculate an estimate for your task.

Yes, and the annual obligations depend on the jurisdiction. In the British Virgin Islands, a BVI Business Company files an annual financial return with its registered agent within 9 months after the end of its financial year, unless an exemption applies. In Hong Kong, a private company files Annual Return NAR1 within 42 days after the anniversary of its incorporation. A UK Ltd files a confirmation statement with Companies House at least once every 12 months.

It depends on the activity. The BVI economic substance law lists nine activities, including holding business, distribution, service centers and intellectual property; for them, management, staff and expenditure in the country proportionate to the business are required. A breakdown by jurisdiction is in the guide economic substance.

Each jurisdiction has its own rules. In the United Kingdom, information on people with significant control is public on the Companies House register. In Hong Kong, the significant controllers register is available to law enforcement authorities. In the BVI, since 1 April 2026, information on beneficial owners with a stake or control of 25% or more is released to persons with a legitimate interest, and the request fee is USD 75. More in the guide beneficial owner (UBO).

For a UK company, the filing history, directors, PSCs and charges are visible on the Companies House register. In the BVI and Nevis, status is confirmed by a certificate of good standing from the registry and a certificate of incumbency from the agent. Before a purchase, we also check fees, returns and debts; the procedure is described on the aged offshore companies page.

Yes, if the rules of the country of their tax residency require it. According to the Federal Tax Service of Russia, a controlling person of a CFC in Russia is a resident with a stake of more than 25%, or more than 10% if all Russian residents together hold more than 50%, as well as a resident who exercises control over the structure. In Ukraine, CFC reports are filed under Article 39-2 of the Tax Code. How the rules apply to your structure is worth discussing with a tax advisor.

It is the registered office in the country of registration, where the registry, the tax authority and the courts send documents. In offshore jurisdictions, it is usually provided by the registered agent, and the requirements for it are set by local law. Options and rules by country are on the virtual office and registered address page.

The procedure depends on the country and the agent. In some jurisdictions, documents are signed and certified remotely; in others, the deed of incorporation is executed by a notary, as in Andorra. The bank or payment service provider carries out its own identification of the owner.

An offshore company usually means a company that does business outside its country of registration and pays a low tax there, or tax only on local income. An onshore company does business and pays taxes in its country of registration, like a UK Ltd or an Austrian GmbH. A comparison with examples is in the article offshore or onshore.

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