Offshore companies

We specialize in providing services tailored to the client and their businesses, as well as the incorporation of companies abroad in the main relevant jurisdictions.

An offshore company is a legal entity incorporated abroad that provides commercial and tax benefits adaptable to various businesses and property needs.

At VLL, with specialized professionals in each of the various jurisdictions, we provide our clients with comprehensive advice on the constitution and administration of foreign companies as well as opening bank accounts.

We recognize that the time required to form the structure that makes business viable is key, therefore at VLL we have worked to optimize processes and reduce deadlines as much as possible.

Among the Main Jurisdictions We Highlight:

British Virgin Islands (BVI)

BVI, made up of a group of approximately 46 small islands, is a financial and commercial center of international renown and recognition.

The BVI has flexible corporate legislation that adjusts to the commercial needs of the most diverse businesses, providing security in investments and with important tax benefits where BVI foreign source income is exempt from paying taxes.

Requirements	Specifications
Shareholders	A minimum of 1 shareholder is required, and shares can only be registered.
Directors	1 minimum director, who depending on the economic activity to be carried out may be required to be a BVI resident. The details of the director or directors must be registered with the Registry of Corporate Affairs.
They Can Be Held Anywhere In The World.	Meetings of shareholders and directors
Other Figures of Corporations	Other administration figures may be designated.
Accounting Records	They can be worn anywhere in the world. An Annual Financial Statement (unaudited balance sheet and income statement) is required to be sent to the Resident Agent.
Economic Substance	Companies are required to send the Economic Substance Report annually under the conditions required by the regulations.
Final Beneficiaries, Shareholders and Directors	The identity of the Final Beneficiaries must be presented by the Resident Agent to a private registry maintained by the Financial Services Commission. Thus, regarding the information of the shareholders, it is only registered in the statutory registry in charge of the Resident Agent. The Register of Directors is filed privately with the Registrar of Companies, and users of the British Virgin Island Financial Services Commission can access their names.
Resident Agent	It is mandatory that the company has a BVI registered Agent, this being a service provided by our firm. The Registered Agent is required to maintain corporate and financial information (Company Records and Underlying Documentation)

Panama

Panama is one of the main financial centers in the region with more than 100 local and international banks installed.

Panamanian companies are regulated by the Commercial Code and Law 32 of 1927, which with reforms still remain in force, granting the flexibility and freedom necessary for the operations of various businesses.

Companies in this jurisdiction have important tax benefits where income from foreign sources in Panama is exempt from paying taxes.

Requirements	Specifications
Shareholders	At least 1 shareholder is required, and their shares can be issued to bearer, under certain specific conditions of holding and documentation, or registered.
Directors	At least 3 directors who can be natural or legal persons, resident or not.
Meetings of Shareholders and Directors	They can be held anywhere in the world.
Other Figures of Corporations	The company must appoint a President, Secretary and a Treasurer, who may be a director.
Accounting Records	They can be carried anywhere in the world and must indicate the commercial operations carried out, its assets, liabilities and equity that allow the financial situation of the company to be determined.
Economic Substance	The company is required to annually provide the Resident Agent with its accounting records and supporting documentation.
Final Beneficiaries, Shareholders and Directors	The information and data of the final beneficiaries must be registered with the Superintendency of Non-Financial Subjects (SSNF) who will keep it confidential except in the event that a competent authority requires this information. Thus, regarding the information of the shareholders, it is only registered in the statutory registry in charge of the Resident Agent. For its part, the information on the directors is public in the Public Registry of Panama, which is accessed by consultation via the web.
Resident Agent	A resident agent must be designated and can be a Panamanian law firm or lawyer, a service provided by our firm.

For more information about these and other jurisdictions as well as our services, do not hesitate to contact our multidisciplinary team of professionals.