Section 5

Establishing Your Offshore Presence

If you are ready to proceed or just wish to learn more, make contact with a tax haven specialist. Tax haven professionals will generally provide valuable information on their offshore center and their services. If you have any questions, just ask, but to be taken seriously, always be professional in your approach.

When a professional is engaged and the prospective client is ready to move forward, the fees for services quoted will be required to be paid for in advance.

These people will guide you and advise you based on what you hope to accomplish unless you know exactly what you want, in which case, they will proceed on your instructions. What you decide and the services selected will have a direct bearing on the expense to set up your corporation and presence.

Here are a few considerations and basic steps to follow:

1. A corporation is first necessary. The cost of this is often based on the number of authorized shares.

2. If anonymity is desired, nominee directors will likely be needed. Nominee management fees vary according to locale, expertise, services performed, etc.

3. If additional confidentiality is preferred, have bearer shares issued, if they are permitted, and keep them in a safe place. No additional cost is incurred for bearer or registered shares. As an alternative, you may establish an asset protection trust and issue registered shares in the name of the trust. This will give you the benefits of asset protection and estate planning simultaneously.

4. A corporate address is necessary. This will most likely be in the tax haven where the company is incorporated, but another locale can be used too. Technically, the offshore corporation would be required to qualify the company in the other country. Qualifying the corporation in another country has the drawback of additional expense and disclosure of information. If possible, it is best to stay in the chosen tax haven. The professional will usually provide mail, phone, fax and telex services as needed. Communications will be forwarded to you as prearranged.

Having achieved the above, the investor will have established a reliable offshore base for investment purposes. Any extra services or modifications to this plan may incur added initial and annual expense, but at the same time depending on an individual's circumstances, there may be more benefits to gain.

CRA provides all of these services and more in every major tax haven and offshore banking center worldwide. Call us for further information and quote on corporate services in any venue.