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An Offshore Company refers a corporation, LLC or similar class of entity formed in a foreign country to that of the principals of the organization or one that can only operate outside of its country of formation. This article provides information to help one understand the definition of the term “Offshore Company” and to describe how they differ from domestic companies.First of all, we will define the term Offshore. Offshore means located or situated beyond one’s national boundaries. The term Offshore Company has two definitions depending on its perspective. From the standpoint of the principals of the company, it is a company that has been filed outside of the country where its principals (officers, directors, shareholders, members, partners) reside. From within its country of formation, it is a company that has been formed for the purpose of operating outside of the jurisdiction where it was originally filed.The reason why one would form such an entity is often to take advantage of laws that are not available in one’s country of residence. Examples of these benefits may be tax savings, asset protection from lawsuits or to take advantage of foreign business opportunities. The reason why a country would offer such entities is to bring revenue to the jurisdiction in the way of filing fees and fees to the agents that form such entities. For example, jurisdictions such as Nevis, BVI, Belize and the Cook Islands have little in the way of natural resources. So, they have created unique offshore company laws that make it attractive for foreign investors to form entities and/or hold capital within their borders.As an illustration, an offshore company filed in the Caribbean island of Nevis can hold a bank account in that country or other countries but it cannot operate a business within the country of Nevis. Nevis LLC legal statutes were written to protect the assets held inside the company from being seized by lawsuits and creditors. So, those who do research on creditor protection may chose Nevis as the jurisdiction to form their entity. A tax-savings example is Apple, Inc., the technology company headquartered in Cupertino, California in the United States of America. Apple established offshore companies in Ireland. Neither the Irish holding company nor the Irish corporation that is the principal company, as of this writing, have paid any income taxes in Ireland for the past several years. If a company is associated with another company doing business in Ireland, this country allows some Irish companies to claim non-residence status. Therefore, this allows Apple’s main company to not pay taxes anywhere at all.US law asks where a company was filed (IRC Sec. 7701(a)(5)). Irish law asks where a company is managed and controlled. Since the laws of neither country define the company as resident, no tax treaty does either. Therefore, Apple’s nonresident subsidiaries are not covered by the tax treaty between the US and Ireland.In contrast, a domestic, or local company is a corporation or partnership that is created or organized for the purpose of operating from its country of formation. Typically, the officers, directors and, most often, the owners are located in the same nation in which the organization was filed. It can conduct business within the borders of the country where it was formed, in addition to other countries if certain requirements are met. For example, UBS Bank is filed as UBS Group AG the Swiss Canton of Zurich. It conducts business in that country and has also registered to conduct banking business outside of Swiss borders.
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QUALIFIED PROFESSIONALS
• PMC Legal-Fast Corporation, comprises a highly qualified and dedicated team, wholly committed to providing an effective and efficient visa information and application service to commercial and private applicants. Our commitment to efficiency, accuracy and detail has won the attention of a number of established travel companies and we continue to enjoy preferred visa supplier status with a significant proportion of the current market leaders in the travel industry.
WHY CHOOSE US?
- Our dedication to outstanding professionalism has won the attention of a number of the leading forces in the travel industry, which has allowed us to establish ourselves as the preferred supplier of both business and tourist visas to a large number of independent and corporate agents.
Our Visa specialists also maintain extremely good relations with the various Embassies, High Commissions and Consulates located in London, Birmingham and Manchester; in addition we use our own couriers to collect the visas when they are ready. This is an advantageous option compared to using an outside courier service as it allows our staff to monitor the progress of our client's visa applications much more closely and to maintain a direct and personal relationship with specific embassies. We are continuing to explore further avenues for expansion as well as refining and improving the current services provided, with a view to becoming the market leader in business and tourist visa account handling in the UK.
SERVICES IN MULTIPLE LANGUAGES
- We are a group of polyglot professionals who speak fluently the following languages: Spanish, English, Portuguese, Croatian, Arabic, Italian among others, beyond that, we pride ourselves above all for the unparalleled service that we provide on an individual level, utilising UK based call centres with no automated telephone service, ensuring that the specific requirements of each individual client are given the consideration and attention they deserve.
Why choose PMC Legal-Fast for your Entrepreneur Visa?
- Industry leading lawyers and excellent client service form the backbone to PMC Legal-Fast’s services. We believe in surpassing our client’s expectations and project managing every step of the application process. We work efficiently and diligently ensuring that your application stands the best chance of being accepted. We handle every step of your application process saving you time, money and stress. We bill our cases on a fixed fee basis, so that you are aware from the outset the total cost of the application, with no hidden fees.
About Us
Who we are?
- PMC Legal-Fast Corporation are a UK based company that arranges all types of worldwide company formations and all types of visas applications process as well as legal translations services. We offer an honest and service orientated approach which relies on effective communication with our clients and focuses on their needs.
- The manner in which we work is personal, yet professional, and we are extremely proud of the reputation we have built up over time.
- A personal tailored service to all customers.
- Years of industry experience.
- All our worldwide associates are polyglots.
- We take care of every single aspect for you from start to finish.
- We keep you informed every step of the way through effective communication.
- We believe that building a good relationship with our clients is key to achieving your goal.
- We guarantee a clear & straightforward communication channel with a service orientated approach.
How We Work?
- The most important part of our business is our service standard. We try to offer a high standard that includes giving you enough information about your company formation to make an informed choice for your business progression. We would be happy to offer testimonials from previous clients.
- Our offices in the UK handle the initial enquiry of the exact company formation or service you require, through to completion of the relevant services. And all our consultants and relevant worldwide associates are polyglots.
- We literally hold your hand every step of the way:
- Whilst in the relevant country you will be guided to and accompanied at all meetings associated with your required service.
We understand that knowing your market and specific expertise, does not mean that you are aware of specific country legislations and processes regarding setting up a company. We aim to keep things as transparent and informative as possible.
We offer a service both direct to the client and through agents. We are happy to correspond directly with your clients on your behalf, or through you, the agent – whichever you and your clients’ are more comfortable with. We offer complete confidentiality.
Companies run much smoother when all aspects are covered. This can mean giving you the details, or instructing on your behalf.
You may be required to visit the relevant country to set up the bank account, most of the other paperwork can be handled by way of a Power of Attorney.
Close the deal
- Our dedicated commercially minded Entrepreneur Visa teams specialise in obtaining entrepreneur visas for our business clients. Whether it be your initial application, visa extension or settlement application we can assist you in all of your immigration needs.
- The Entrepreneur visa is a business visa that allows the applicant to relocate to the UK specifically for the purpose of business. If you have a business idea that you would like to develop and bring to the UK, the entrepreneur visa will allow you to explore this idea. The applicant is able to either set up a new business or take over and existing one. Unlike other ‘work’ visas the tier 1 entrepreneur visa leads to settlement and, eventually, a British passport.
To qualify for the entrepreneur visa, the applicant must:
- Have access to £200,000 – through either their own funds or a third party
- Meet the English language requirement
- Meet the financial maintenance requirements for the main applicant and dependents
- Be a Genuine entrepreneur- You must show that you genuinely seek to set up a viable business in the UK. This is subjective; the home office will take into account, previous experience, qualifications and examine your credentials.
On meeting the requirements the initial visa is granted for a period of 3 years