I’m often asked “What are the steps in setting up an Offshore Company?”
I can’t speak for other firms but when you incorporate a Company with OCI here are the steps in the process:
(a) To set up a Company we need, via email, a signed order form + CDD docs (ie proof of your ID and residential address) per the requirements. First up you should advise us of your preferred company name/names. We will check and advise (for free) whether your preferred Company etc name is available.
(b) Once you’ve indicated you wish to incorporate with OCI we will email you an order form (+ a guide which explains how to complete the order form) + the CDD requirements. We will also email you a banking questionnaire to complete. The answers you provide therein will give us a snapshot of you, your business and your banking requirements such as should enable us to recommend a/the bank (or banks) most likely to meet your needs.
(c) You should complete a draft of the order form and email it to us for checking + you should email us the banking questionnaire duly completed. (At the same time you should be organizing certified copies of your CDD Docs ie your passport and a document proving your residential address)
(d) We will review the draft order form. We will email you advising you how to complete the order form or (if there are questions in the order form that you can’t answer) we will advise of available conference times and then explain to you in a phone/video conference how to complete the order form/s
(e) Once we’ve received the completed banking questionnaire we will email you detailed info regarding the banks which we feel are most likely to meet your needs.
(f) You should then email us the final signed order form + your CDD docs. Once that’s received we will check all is in order and (assuming all is in order) we will email you an invoice which can be paid by bank/wire transfer, card, paypal account or Bitcoin
(g) Once we have confirmation of payment we will prepare the incorporation request and we will email you a bank account instruction sheet
(h) Once we have confirmation of incorporation (which for an IBC should be within 1 to 5 days max of us lodging the incorp request) we will email you the details including Company number and date of incorporation.
(i) Once the company is incorporated we will prepare the Incorp pack docs (they should be ready for delivery within 2 to 3 days of incorporation) and arrange for Notarised/Apostilled copies of the Corporate docs to be obtained as/if required by your preferred bank. We will email you copies of all the Corporate docs. (And we will courier you the original Corporate docs as/if requested).
(j) We will then (assuming you’ve emailed us the completed bank account instructions sheet) finalise and email the bank account application forms to you/the Director/ the account signatory for signing
(k) Once signed we will check and submit the corporate account application to the bank. At the same time we will supply the bank with copies of the Corporate documents (depending on the bank you may also need to courier the bank the original signed Corporate Account Application + your proof of ID/Residency docs)
(l) We will then follow up the bank (liaising with you to answer any questions they may have along the way) until the account is opened
