The Grenada Offshore Company

Although the formation of offshore companies tend to come under heavy criticism, investors, corporations and individuals often found it necessary to look overseas to maximize profits, find more lucrative business ventures and build a solid foundation on which to grow financially. Grenada offshore companies have provided many of those persons with an opportunity to achieve these goals and consequently identified as effective corporate structures for global business.

If you interested in Grenada offshore company or any other like Panama company, most likely it will be not bad idea to find out about Dominica citizenship by investment. But the utility of the Grenada offshore company is not limited to legally reducing taxes which are burdensome and tend to result in the loss of too much a large chunk of a company’s profits. The Grenada offshore company is ideal as a tax planning and wealth management tool which enables its owner to secure funds and assets for rainy days or retirement.

This can be achieved by using a Grenada company to provide goods and services or for business transactions in a tax free environment that helps to accumulate profits. The profits of an offshore company do not have to be reinvested or used immediately and can be left to earn interests in an offshore banking institution which also provides a tax free environment.

Offshore banks complement the use of Grenada offshore companies and make multicurrency accounts, merchant account, online banking, credit and debit card facilities available to Grenada offshore companies. A major feature of an offshore bank account held by an offshore company is access to private banking which opens the door to a host of services such as estate planning, trust services, insurance, wealth management and tax advice. Offshore accounts are also ideal for a Grenada offshore company that wishes to establish international presence by setting up the right bank accounts to diversify or strengthen one’s investment portfolio and facilitate bank transfers, payments and receipts.

Tax relief provided to Grenada offshore companies originate from the absence of tax on international profits or income earned outside Grenada, coupled with the need to not withhold any returns earned through dividends or interest, not pay tax on capital gains, inheritance, gifts, death or succession. These tax exemptions exist in order to avoid double taxation of both legal and natural persons.

A Grenada offshore can be constituted within a few working days during which the charter/constitution documents are prepared for the company by its agent. The agent of a Grenada offshore company is usually a company, legal or financial professional that is authorized by the Government of Grenada to operate as an offshore service provider. Agents are intermediaries between different government authorities and the client who is normally located abroad at the time of incorporation. It is not a requirement to go to Grenada to incorporate a company as this is taken care of by the registered agent. Along with having a registered agent, a local address must be maintained by all Grenada offshore companies as the registered address which serves the purpose of service of documents.

Offshore companies can be created in Grenada with one shareholder and one director. There are no restrictions on the nationalities that the beneficial owners or members of an offshore company may have, thus allowing people of any country and nationality to enjoy the corporate benefits of a Grenada offshore company. The number of shareholders and directors of a company may increase or decrease as demands change, but at least one director and one shareholder must be maintained. The filing requirements are minimal and general meetings can be held in any country with the use of electronic devices which allow every officer to participate equally and effectively.


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