How To Set Up Your Own Offshore Business

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Useful Information

Choose a company name

Any limited company must have its own name. In many English Common Law jurisdictions there are restrictions as to the words that can be used to compose the name. A company name should not contain these words: building society, chartered, cooperative, financial, banking, insurance, trusts, funds, assurance, king, queen, imperial, royal, municipal, or words conveying similar meaning. It is also unacceptable to use words that are indecent, offensive, misleading, or the name of an existing company.

All company names must contain the following words as part of their name: Limited, Corporation, Incorporated, Sociedad Annima, Aktiengesellschaft, Societe Anonyme or the abbreviations Ltd., Corp., Inc., S.A., A.S., or A.G.

Select a few options so that Aspen Global Incorporations Limited can confirm the availability in your jurisdiction of choice.

Setting-up your own business

Offshore companies are useful to anyone providing professional consulting services for specific periods of time. A limited company is a legal person in its own right and has an existence separate from the people who incorporate it. Anyone doing business or making contracts does so with the company, and not the people running it. This means that you limit your risk to the amount invested in the company. As the shareholder or owner of the company you are protected from personal liability for the companys debts.

Professionals that can use an offshore company

Website Designers, programmers, IT consultants, web developers.
Private Film Makers
Executive producers, television producers.
Teachers of any foreign language.
Freelance translators and interpreters.
Life, sports and fitness coaches.
Recruitment consultants.
Marketing and communications professionals.

Authorized Capital

In a private limited company there is no obligation for the shareholders to pay for the shares they own. These shares comprise the authorized capital. When shares are not "paid up", shareholders are responsible to creditors only in the amount or value of the shares that each shareholder owns.

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