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Can an Indian citizen open an offshore company and account?

Asked in Company Formation for India

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Indian citizen residing in India wants to open an offshore company and billing to that company , revenues to be kept offshore such that tax treatment in the jurisdiction in which the company is incorporated
 
India Offshore Tax
 
Posted by Rocket on Dec 16, 2014 at 03:39
 

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Neeraj Nawaz - Mauritius has always been the most preferred jurisdiction for set up of business as well as opening of offshore account. Beside, there is a wide range of vehicles which can be set up in the most tax efficient as well as cost efficient way. Running up an entity is very easy and cost efficient in Mauritius. Any information, I would be happy to help out. neeraj.nawaz@orange.mu Commented on Dec 26, 2014 at 07:22

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As 'bankoffshore' wrote, you can set up a company in most of the jurisdictions, using nominee structures to keep anonimity and comply with the rules regarding the tax residency of the company (which is the key issue). Opening a bank account is also not a problem in general.

It depends what exactly you would like to do with the offshore company. Most of LTD companies should be suitable for your needs, however pay attention if the jurisdiction has a DTT signed with India. You might need it in the future to gain no double taxation e.g. when paying dividends to yourself in India.

If you will need any help with opening any offshore structure, you can contact us.
 
Posted by Cezary-Zieniuk(www.ibccs.tax) on Jan 02, 2015 at 13:01
 

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Hello,

You can indeed open an offshore company in Mauritius as an Indian citizen. Mauritius has a long history of working with indians on this matter and as such you can get back to us to discuss your plans deeper. What you will have to be wary of is the issue of round tripping. Get in touch with me on david.ombrasine@glenaraservices.com.
 
Posted by David_glenara on Jan 27, 2015 at 10:07
 

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You could open such a company with nominee directors to manage its day to day affairs if you are not prepared to be listed as a director yourself. A suitable structure would be an offshore LLC or IBC ( International Business Company )with established banking facillities included, you could look at such an operation in Mauritius, I offer services for Caribbean banks whom also incorporate offshore companies and other offshore devices, but obviously much further away from you than Mauritius, thats assuming you actually are resident in India !
 
Posted by bankoffshore on Dec 16, 2014 at 12:03
 

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