Going Offshore

Hi

I'm steadily building up my domain name collection and have decided that I'd like to go offshore. I've searched the net for information on this but all I can find are sites offering to set up IBCs in various offshore jurisdictions. None of these sites seem to provide *clear and concise* information. Also, the prices vary greatly.

I am looking at the British Virgin Islands (BVI) and came across http://www.netincorp.com - their prices seem particularly attractive, especially the different packages they offer which include things such as mail forwarding, nominee director appointment and apossilation of documents.

The problem is; I don't know a great deal about all of this. I'm learning, willing to learn more and looking for advice. I figured I might be able to get it in here, since I have read this forum since it opened, and know that a number of domain name owners have incorporated in the BVI, the Cayman Islands etc.

What sort of fees should I be looking to pay to set up a BVI company and also on an annual basis? Do the fees at the site I listed look favourable? They seem better than elsewhere to me.

Also, whilst they probably are , how do I know that these places offering offshire incorporation are 'legit'? Okay I can pay by credit card so it's protected. They'll also send me a load of documents by courier. However since I don't know the people setting up the company on behalf, and will never meet them, how would I know what I got back was actually 'legal'?

Many of these places give the option to appoint nominee secretaries and nominee directors. They'll also refer you to a bank to open an account.

The idea of having a nominee director to take instructions, such as signing contracts, does sound appealing. However couldn't I just 'invent' a ficticious person to act as a director instead? Then if any contacts or whatever needed to be signed, they'd be sent to the BVI address, forwarded onto the remote address where I would pick them up and sign them (obviously as the ficticious director).

If I elect to have a nominee director, does that mean they are equal to me (I myself would obviously be a director too) or is it the case that I (and whoever else) are directors (as listed on the company records) and the nominee is a pseudo director authorised to take instructions from the actual directors?

See, I am not totally sure on the technicalities.

If I also wanted to open a bank account, I'd probably want to be the only person (as well as any other real person I authorise) to be able to access it. Would the nominee director or secretary be able to access it? I am asking this because, like I said, I wouldn't know who these people were and thus I'd be wary of money disappearing and not being able to sort it out since I'd not be in the BVI myself.

I hope it's okay for me to post this here. I do think it's appopriate because I know that a number of domainers are 'offshore' (Anything.com, NameAdminInc etc) for various reasons. I am sure that others have considered it but it's complicated; finding out what the correct information is in relation to it and avoiding being ripped off.

Information appreciated.

[James Names]

You may consider a Nevada corporation. There are incorporation companies that will act as the officers of the corporation (CEO) for purposes of the corporate records, while you can be the VP and hold 100% of the stock, control the back account, and receive full privacy and corporate protection.

The corporate shield program from NCH offers this

http://www.nchinc.com/packages.php

Just an option worth looking into before going offshore.

Originally posted by -RJ-
You may consider a Nevada corporation. There are incorporation companies that will act as the officers of the corporation (CEO) for purposes of the corporate records, while you can be the VP and hold 100% of the stock, control the back account, and receive full privacy and corporate protection.

The corporate shield program from NCH offers this

http://www.nchinc.com/packages.php

Just an option worth looking into before going offshore.

I'm not in the US myself and am considering offshore for tax exemption benefits and full privacy (i.e. accounts don't have to be disclosed etc). I'd not looked at the US because I figured things could still be looked into - if I got WIPOed (or even sued) for a domain for example or whatever.

Being offshore in the Cayman Islands or the BVI would pretty much prevent this.

Having said that; I am not an expert so I don't know the full ins and outs of each jurisdiction.

Added: I couldn't find any prices on that site. What sort of fees would I be looking at do you think?

I'll sell you a boat

[peekaboo]

helloooo,
is anybody still heeere?

:-D :-D :-D

[Acro]

Nice tomb raiding.

[aZooZa]

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