Monaco

           Reasons to consider Monaco as your offshore. Monaco is a low-tax jurisdiction for individuals and certain types of business. Monaco is one of the top countries for creating an offshore business. With its low corporate tax, private banking and available information Monaco is the country of choice, if most of your business is going to be conducted within Monaco.

Business in Monaco

            Creating an offshore business company in Monaco is particularly attractive if you are not a French citizen and most of your business is conducted with in Monaco, because you don’t have to pay any income tax.

Creating a company

•    You can be of any nationality to create a company in Monaco.
•   Opening a SA (company limited by shares) requires €150,000. To open a SARL (limited Liability       Company), €15,000 are required.
•  It takes around two weeks to open a company in Monaco.

Maintaining a company

            Each year the company must submit a statement of accounts and declare its revenues, as well as have a local commercial domicile or premises.

Banking in Monaco

            An offshore bank refers to a bank located outside of the investor's country of residence or domicile. Usually providing services for clients who are not physically residing in the country of the bank.

 Banking benefits of an offshore:

•          Diversification of investments internationally
•          Favorable tax environment
•          Heightened banking confidentiality
•          Access to foreign investments and products

 People entitled to open a bank account in Monaco

The residency of the client has to be taken in consideration. There are some countries that don’t allow its residents to legally create an offshore bank account. For more information contact us.

First steps to open a bank account

Each bank has its own account opening process, you have to contact the particular bank in in question to get detailed instructions.

Requirements

• Passport
• National ID
• Bank Statement (where fund will be taken from) 
• Information on: basic personal background, source of funds, purpose of setting up account.

Monaco is a great alternative to all of those non resident companies. Because your should only choose Monaco if your business is going to be conducted with in Monaco. For other types of business needs you should go look for another place to incorporate. More information on offshore - Offshore company incorporation services.