We are often asked What is the process for the hiring of a Lawyer by a (tax free) Offshore Company?
For the purposes of this article we will assume that your Company structure includes a Nominee Director.
Say your tax free Offshore Company (IBC) is doing business in the UK and needs to hire a UK Lawyer to read over a contract.
The first thing you would need to do here is explain to the Company Administrator/s why your Offshore Company needs a UK/Onshore Lawyer.
Then the process would be:
- The Company Director will ask you (say you’re based in the UK) to go shop for a UK Lawyer.
- You would provide a report to the Director of which Lawyers or Law Firms you’ve interviewed. Your report would include a recommendation (and you would need to explain why you recommend that particular Lawyer or law firm).
- A board meeting would be called to discuss and approve by resolution the appointment/engagement of the said Lawyer or Law Firm.
- A minute would be drawn and signed by the Director formally noting the motion so passed.
- Any service agreement between the Lawyer and the Company ideally should be signed Offshore by the Company (Nominee) Director.