Section 8

Managing Your Offshore Activities

All activities of the corporation, director actions, international communications, and accounting, should be done from or through the tax haven professional. In this way, the business affairs of the company are very clean and simple. If financial or investment accounts are better suited to be established elsewhere, that is fine.

Any number of professionals can assist; attorneys, accountants and management companies such as a trust company are preferred. Banks and corporate service companies also offer valuable and similar services.

In addition to formation services, including obtaining necessary licensing when required, these professionals can provide nominee directors to give beneficial owners complete anonymity and management services as desired. They will conduct special and regular board meetings and the resident corporate secretary will keep accurate minutes. They will file any annual returns and maintain statutory records. Each will act as agent for service of legal process and registered office for the corporation as required by law and by most tax havens. If nominees are engaged, they can establish bank and securities accounts at your direction or they may refer you to a financial institution with which they are familiar. Depending on the professional, they can also offer legal advice, tax consulting, international tax planning, accounting and/or investment advice and strategies. A well staffed professional may also offer bookkeeping, office space, secretarial services, re-invoicing, and complete communications services including use of address, mail forwarding, telephone answering, fax and telex services.

There are specialists that manage insurance companies, offshore banks and trust companies since these types of operations require special knowledge and experience to properly administer. With the desired expertise comes increased annual maintenance costs.

CRA provides corporate management services, and corporate office and resident agent services in most tax haven venues. Call today for further information.