Interesting facts:The banking activity and finances are regulated by the Central bank’s normative acts. Full version
There is an active combat against money laundering all around the world that makes offshore banks to disclose their clients’ information under the pressure of public authorities. Every year it becomes more and more difficult to maintain 100% confidentiality when opening an account in a tax haven. The solution to this situation is an offshore fund registration.
Offshore funds are known as more advantageous alternatives to trusts. In fact, it is a legal entity, which is registered in an offshore zone and which can set up banking accounts, control them and deal with third parties. Registration of an offshore fund is attractive because the information concerning its owner is mentioned nowhere. It means that the risk for your name to pop up somewhere is absolutely excluded.
The structure of offshore funds is quite specific. There are also the following persons along with the board of directors, which takes strategic decisions:
Besides, neither trust owner, nor participants and shareholders are involved. It speeds up and simplifies all the processes significantly.
Offshore funds are registered in order to keep real names undisclosed and protect assets from compulsory disposal by their heirs or third parties. After the property transferring to offshore fund, founders are ceased to be its owner. It means that in the case of bankruptcy the property cannot be transferred to third parties.
When registering an offshore company, a bank account is opened in the name of a legal entity, with the necessity to provide information about an offshore owner.
Among the advantages of the offshore funds, it is also necessary to note the absence of a deposit tax, possibility for investors to refund the invested assets and public relations development (by means of a charity fund).
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