Think of going offshore? That is a great decision because it offers better assets protection and allows you to stay free from the insolvent western banking system. But hold on, going offshore is not enough; why not go for an anonymous company formation. Anonymous company formation or International Business Formation provides you with the opportunity to control all your assets in total privacy. In this post you will get everything about anonymous company formation: facts and myths.
Anonymous companies require personal identification details for registration
Fact: Just like other limited liability companies, an anonymous company will require all the necessary documentation to complete the process. After selecting the country of choice, you will need to provide the following documents;
- Photocopy of personal passport or identity card.
- Proof of residence
- The name you proposed for the company
The whole process will take about five working days to complete. However, additional 3-5 days may be required to set up an account for the company.
The process of anonymous company formation involves transferring assets to third parties
Fact: Your assets will be transferred to other entities (third parties) using private foundations, international business companies, and asset trusts. The third parties help to shield you from local and foreign authorities, creditors as well as inland taxation.
Using anonymous company formation is unethical
Myth: While many people argue that anything offshore is unethical, it is indeed a great method of protecting yourself. Think of it this way, your bank home charges a lot of interest on your deposits, cannot fully insure all savings, and will not release enough cash even for emergencies. The most ethical thing to do is cushioning you from such a poorly capitalized and government controlled systems through offshoring.
Your personal details of the anonymous company will be revealed
Myth: While your details are used to open the anonymous company, it is kept completely private because everything is done under corporate ownership. Even the banks are prohibited by local country’s laws from disclosing any info about you.
It is very difficult (almost impossible) to transfer money to an anonymous offshore account
Myth: Anonymous companies make it very easy to access, withdraw, add funds, and even make transfers. They provide secure online banking, mobile banking, and international transfers to help with management of funds. Besides, anonymous companies have full-time support to ensure that you get all the information you need.
Anonymous companies are not required to file annual returns
True: Anonymous companies are not subject to file yearly returns or books of accounts.
You are required to pay annual maintenance fee
True: Just like most offshore limited liability companies, you will be required to pay a fee to maintain your account. Many people consider an annual fee to be a better option when compared to high interests charged on your deposits in the western banking systems.
Anonymous company formation requires a nominee director
Fact: When your anonymous company gets a nominee director, the structure becomes complete and more private. This way, your personal information is only provided to the agency that helps to incorporate your company. Remember that though you have the nominee director, all the financial details are directly under you and cannot be influenced by the director.
You cannot access the money in anonymous company’s account easily
Myth: One of the main reasons for establishing anonymous company corporate account was to liberate people from the risky banking systems in the west that are poorly capitalized. Unlike in the west where you cannot access large amounts because all of it has been lent, it is different in anonymous company formation. Though there is a limit of daily transactions, the amount you can access every day is a lot and you can have it raised any time.
Do not use unreliable information out there on anonymous company formation: Facts and myths post has everything that you need to make the right decision.