Frequently Asked Questions

No, most of the offshore company formation is for business or international trading purpose. As the fee is not high, hence is suitable for small and medium enterprise to set up.

In many jurisdictions, you can complete incorporation through an agent without travelling. If you later apply for a bank account in Hong Kong or Singapore, you may need to travel, depending on the bank’s requirements.

No, as offshore company is tax free, hence it does not need to submit annual audit report to the government, only pay the annual government fee and the related fee to the government and the agent.

No. An offshore company is legal when you use it for legitimate business purposes. It becomes a problem only if someone misuses it for illegal activity, such as money laundering.

Not always. You can usually work with one offshore company if it fits your business model. We will review your needs and recommend a structure that suits your transactions and helps reduce business risk.

If the client has his own preferential bank and has good connection with his existing bank, we can assist in preparing the related documents; however, if the client does not have, we have work with banks closely to open bank account for client, mostly in Hong Kong and Singapore, as they are financial hub and without foreign currency exchange control, easier for international business.

Yes. We also work with selected offshore banks in other jurisdictions. The right option depends on your profile and the bank’s requirements.

It would be the international trend for hard to open bank account as the banks are having strict control of opening bank account to eliminate money laundering. Hence, the documents of the client are not well prepared, most of time will be rejected.

We usually start with a simple background review to check whether you meet the bank’s requirements. After incorporation, we will guide you on the process and documents needed to improve your chances of approval. You still need to incorporate the company first before the bank can assess the account application.