Legal status, ownership and management of an offshore company
The legal structure and operation of a typical offshore company mirrors that of any common law-based limited company. Once formed, an offshore company -- or, in fact, any company -- is an entity in its own right. Having the status of a legal person, an offshore company is quite separate from its owners (shareholders) and managers (directors) -- a fact exploited time and time again as a protection against litigation.
Just like any limited company, an offshore company is managed by a board of directors for the benefit of its shareholders. Shareholders have the power to elect the company's directors. In many offshore jurisdictions, a single person of any nationality can act as both the sole director and the sole shareholder. Increasingly, nominee directors and nominee shareholders are used to protect the actual beneficial owner's identity.
Nominees are professional parties who, subject to a private contract with the beneficial owner, allow their names to be used in place of the name(s) of the company's owner(s). Powers and restrictions of an offshore company Most offshore companies are permitted to conduct any business activity that is not specifically prohibited by the legislation of their place of incorporation.
A typical offshore company can do what any limited company can, and more:
Winston Wambua
International Offshore Specialist
For more information please contact me on
The legal structure and operation of a typical offshore company mirrors that of any common law-based limited company. Once formed, an offshore company -- or, in fact, any company -- is an entity in its own right. Having the status of a legal person, an offshore company is quite separate from its owners (shareholders) and managers (directors) -- a fact exploited time and time again as a protection against litigation.
Just like any limited company, an offshore company is managed by a board of directors for the benefit of its shareholders. Shareholders have the power to elect the company's directors. In many offshore jurisdictions, a single person of any nationality can act as both the sole director and the sole shareholder. Increasingly, nominee directors and nominee shareholders are used to protect the actual beneficial owner's identity.
Nominees are professional parties who, subject to a private contract with the beneficial owner, allow their names to be used in place of the name(s) of the company's owner(s). Powers and restrictions of an offshore company Most offshore companies are permitted to conduct any business activity that is not specifically prohibited by the legislation of their place of incorporation.
A typical offshore company can do what any limited company can, and more:
- Open bank accounts worldwide
- Own cash, securities, commodities
- Own real estate, land
- Own intellectual property
- Trade worldwide
- Offshore companies can be managed from anywhere in the world.
Winston Wambua
International Offshore Specialist
For more information please contact me on
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