FAQ's
1. What is an offshore company?
An "offshore" company is any company that is incorporated in one of the tax-free or low taxes jurisdictions. Over the past decades, the most popular countries and regions in this sector include the British Virgin Islands, the Cayman Islands, Bermuda, the Bahamas, the Isle of Man, Panama, Mauritius, and Seychelles among others.
Normally, an offshore company is not allowed to conduct any business in the jurisdiction where its registration is located. The types of the offshore companies vary depending on the different countries or regions. However, an International Business Company (IBC) is one of the most commonly used entities.
2. How do I select the best jurisdiction for my offshore company?
Our recommendations would be based on your business structure, marketing strategy and the owners’ legal background etc. It is therefore always wise to understand your business nature, operational aim, market place and your target customers. This will enable us to identify the best possible solution that fits with your requirements.
3. Can I change the director(s), or the name of my company?
Yes. A board resolution must be also conducted and signed by the director(s).
4. Can I open a corporate bank account for my company?
Yes, Fortitude is able to assist in opening corporate bank accounts for the companies under our maintenance only. Please note that all the banks we work with require completed “AMLQ” Anti Money Laundering requirements to be met. This is normally in the form of a questionnaire.
5. Can I use an offshore or a Hong Kong company to invest in China?
Yes, however we would need to have your Incorporation documents “consularised” in the country of incorporation.
6. How can I set up a Wholly Foreign-Owned Enterprise (WFOE) in China?
Yes, however not all industries are open to foreign investments, foreign investors must be fully aware of up-to-date Chinese government regulations applied to their specific industries and a detailed market research or due diligence prior to the WFOE formation.
The general procedure to establish a WFOE includes Pre-registration and Post-registration after an initial approval is granted.
7. To establish a WFOE or RO in China, do I have to use a local licensed agent?
Yes, it is part of the official requirements. Fortitude is licensed to assist international organizations looking to enter the growing Chinese market.
8. Can I get work / residence permits if I work for WFOE or Rep. Office in China?
Yes, however this would be subject to the WFOE or RO offering you a legitimate labor contract.
9. Is Fortitude able to assist me in operating my investment project in China as a whole service package?
Yes, Fortitude can assist with operations in China, ranging from due diligence, formal negotiations, tailor made investment strategies, official documentation and final registration
10. Is Fortitude able to help with disputes with local partners?
Yes, Fortitude would assist with trade disputes by acting as mediator on behalf of our clients to resolve the issues and then implement an agreement which suits both parties.
For further details, contact info@fortitudeglobal.com.
