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Start a Company Now - FAQs

• Is it legal to set up an offshore company?

  Legally speaking, an offshore company is nothing else than a company. Is it legal to set up a company? Absolutely. It is what you use the company for that determines its legal status.
  
  Presently, millions of offshore companies are being used across the globe in total legality. Be it to own property, act as a holding vehicle, conduct business, own trademarks , trade...all these activities are done within a legal and tax framework that is known and established by authorities.
  
  When does it become a problem ? Upon using a company with criminal intentions such as but not limited to : evading taxes, launder money, trading without proper license for an activity that requires one, bribery, human trafficking etc
  
  And this is precisely what has brought bad publicity to the industry over recent years. Some isolated cases have impacted anyone owning or having the intention to own an offshore company.
  
  While SFM onboards numerous clients every year, we conduct strict due diligence and Know Your Client processes and are sometimes forced to refuse or report clients that we know, or have strong suspicions, conduct criminal activities.
  
  To learn more about our compliance standards, please click on this link and refer to the articles 5 to 7 of our T&C’s

• Why should I use SFM to setup my offshore company?

  SFM has more than 15 years of experience in company formation and our seasoned experts have a network of offshore service providers that remains unparalleled. This Enables us to offer you competitive prices on over 27 jurisdictions globally. Our company goes above and beyond to provide you the best service with dedicated account managers and expert advice. Each client receives a tailor-made service, aligned with the latest jurisdiction laws. In addition, we also provide addition services such as bank account opening and accounting services.
  
  SFM is a member of many internationally recognized organizations such as The International Fiscal Association (IFA) and The International Tax Planning Association (ITPA). Find a full list of our associations here making us one of the most recognized company formation providers globally.
  
  To speak to one of our experts contact us or to find out more about SFM please read the “About us” section.

• How long will it take for me to receive my corporate documents?

  Every jurisdiction has its own incorporation timeframe. Please refer to our jurisdiction comparison table. Once the company has been incorporated, it will generally take about two to six days for the corporate documents to become available.

• What is the difference between a shareholder and a director?

  The shareholder is the person who owns the company through a share certificate. A company can be owned by one or several shareholders. The shareholder can be an individual or a company.
  
  The director is the person responsible for the management of the company. He will sign any business contracts, account opening forms etc. Directors are elected by the shareholders. A company can have one or several directors. The director can be an individual or a company. Find out about out professional director and shareholder services here.

• Do I need to come to the bank in person to open an account?

  Most bank we work with are able to accept clients whose application is completed fully by correspondence. However, some banks will want to meet you in person. If you wish, a personal meeting can be organized with a representative of the banks we work with.

• Does opening an offshore company mean that a bank account will automatically be opened for the company?

  No. If you tick the bank account opening option, we shall-in close collaboration with yourself-to review the banks which most suit your needs from among our network of prime banks. The bank will then decide if the account can be opened, depending on how comfortable they are with the nature of your business and the personal information provided by you. However, in more than 95% of cases, our clients obtained their account.
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• In which countries can you open a bank account for my company?

  Applications may be made in Switzerland, the Seychelles, Cyprus, Panama, Belize, BVI, St-Vincent, Latvia, Hong Kong, and elsewhere. Please refer to our website for the updated list.

• Which banks do you work with?

  For legal reasons, we cannot disclose the names of the establishments we work with. However, be assured that we only work with first class banks, which are able to offer you all the services you may require (internet banking, credit and debit cards).

• What is a professional director?

  The professional director service may be used where a client doesn’t wish to be personally appointed or has to meet local requirements. The name of the director will appear in the corporate documents, in any business contract and sometimes in the jurisdiction's business register.
  
  Upon appointment of a professional director, a Professional Director Service Agreement will be signed between the client and the professional director. Among other terms, it will guarantee to the client that the professional director can only act or sign documents upon the client's request and with the client's prior approval.
  
  Professional directors introduced by SFM are not employees of SFM, but third-party individuals who will conduct their own due diligence reviews before accepting an appointment on a company.

• What is a professional shareholder?

  The professional shareholder is appointed in order to detain shares on behalf of the owner of the company. The name of the shareholder will appear in the corporate documents, and sometimes in the jurisdiction's business register.
  
  Upon appointment of a professional shareholder, a Professional Shareholder Service Agreement (declaration of trust) will be signed between the client and the professional shareholder.
  
  Please note that professional shareholders introduced by SFM are not employees of SFM, but third-party individuals who will conduct independent due diligence reviews before accepting an appointment on a company.

• Can any company apply for dissolution/deregistration?

  Yes, any company, regardless of the jurisdiction, can apply for dissolution. SFM can take care of the dissolution process for you. Prices vary from one jurisdiction to the other, and also depending on the amount of accounting work if needed.

• Why are annual renewal fees required?

  The annual renewal fees are required in order to maintain your company in good standing and to operate and act on its business activities. All companies are required to pay annual renewal fees in order to maintain its good standing status. Due dates for the annual fee are determined by the jurisdiction in which the company is incorporated in. Annual fees are also required to maintain the registered address of the company. As part of the incorporation price that you have paid, SFM offers an official registered address for your company.