Frequently Asked Questions
What do we do?: Atlas Corporate Services Limited is a Guernsey incorporated holding company, whose subsidiaries provide global corporate services to corporate and private clients. Atlas manages onshore and offshore companies, trusts and other business structures to meet the individual demands of its clients. Broadly put, these demands include corporate re-structuring, wealth and asset protection, tax reduction, international expansion and professional directors, shareholders, secretarial, trustee and representative services. Please click here for more information.
What is an offshore company?: Offshore or non-resident companies are loosely described as companies that don't conduct a substantial volume of business within their jurisdiction of incorporation. More specifically, offshore companies have three characteristics: Firstly, they should be registered as an entity within the jurisdiction of incorporation. Secondly, the 'incorporators' should be domiciled outside of the jurisdiction of incorporation. Finally, the company should transact the major majority of business outside of the jurisdiction of incorporation. However most associate the term 'offshore company' as a means of increasing tax efficiency and facilitating international business. There are several different categories of companies that can achieve this function:
- IBC (International Business Company) - Have very little or no taxation on income, corporate profits and capital gains. Such companies are present in jurisdictions such as the British Virgin Islands and the Seychelles
- LLP (Limited Liability Partnerships) / LLC (limited liability Company) - Such businesses have the benefit of limited liability but with the profit division characteristic of partnerships, whereby profits are divided between partners based on their holding in the business. If the members or partners of an LLC/LLP are not domiciled and are non-tax residents within the jurisdiction of incorporation, and business activities are based outside of the country of incorporation, then neither the company nor the members/partners are subject to taxation in the jurisdiction of incorporation. Examples include: UK LLP and Isle of Man LLC.
- Certain onshore companies - Some company types, which have tax resident status, are used for international tax planning purposes due to factors apart from nil taxation on profits, income or capital gains tax. For example, the Luxembourg 1990 Soparfi is a normally taxed European company, subject to full taxation with access to Luxembourg's double tax treaties. However, Luxembourg has structured the dividends and capital gains on a Soparfi such that it is very efficient as a holding company.
Which jurisdiction should I choose?: Most offshore jurisdictions have no foreign exchange controls and have little or no tax on individuals or companies. However, most jurisdictions have differing legislation designed to serve the needs of cross border business (such as double tax agreements). It is important to select a jurisdiction that is well-suited to your specific corporate and personal needs. For more information please do not hesitate to contact one of our specialists or alternatively feel free to browse our information on the requirements set by different jurisdictions.
What are shelf companies?: A shelf corporation, also called an aged corporation, is a business that has no present activity. They are pre-fabricated, unused corporations that have been set-up to meet a client's specific needs. Atlas can provide such offshore structures through our partner network. For more information please contact one of our regional teams
Who will manage my offshore structure?: Atlas can provide fully qualified professional directors, trustees, company secretaries and representatives. We can also organise corresponding services including: administrative and accountancy services, advisory services, e-commerce solutions, virtual office solutions, special projects and network introductions. Please click here for further information.
How are the costs structured?: Atlas has made the fees as transparent as possible, however incorporation fees, maintenance fees, corporate servicing costs vary between jurisdictions. Please click here for more information.
How long does it take to set up an offshore company and bank account?: International Business Companies (IBC's) can usually be set up within two working days, in most offshore jurisdictions on the premise that all required details are supplied by the client. We can usually establish bank accounts in offshore jurisdictions within 2 days of notice. However, bank accounts in Europe may take as long as 21 days.
Is my privacy protected?: We are committed to maintaining the confidentiality of our clients, however prior to taking on new custom we are committed to carrying out thorough checks to assess the nature of our clients business. We are obligated to undertake the necessary due diligence to ensure that no international treaties are broken. This arrangement benefits all parties involved.
- Please click here for information on our privacy policy
- Please click here for information on our due diligence procedures