Offshore information pack

1. 1 Molybank Offshore Company Information Pack | www.molybank.co.uk
Offshore Information Pack
Welcome to our offshore information pack. The following information is designed to give you
an overview of offshore company formation and what is required to open an offshore bank
account. If you would like further information on specific products, please contact us on +44
(0)1305 853310 or email info@molybank.com.
What is an offshore company?
An offshore company often referred to as an IBC or International Business Company is the
term used for a company which is formed within an offshore jurisdiction which may enjoy
special taxation privileges and is not permitted to engage in business activities within the
jurisdiction in which it was incorporated. It allows the beneficial owner of the company to do
the following things:
• Trade internationally
• Set up offshore bank accounts
• Protect assets
• Preserve confidentiality of the Beneficial Owner (provided that the correct structure
has been implemented)
• Engage in a wide range of legal business activities
• Register yachts
• Invest offshore
• Purchase and hold real estate at home and overseas
Each individual’s requirements are unique and it is advised that you seek professional
advice to discuss the most effective jurisdiction for your needs.
An ideal jurisdiction will always include the following requisites:
• Political stability
• Good legal infrastructure
• Modern financial services
• An attractive tax regime that encourages foreign investment
• Ease of access
• A solid reputation
• Cost competitiveness
If you are seeking advice on the most suitable jurisdiction for your IBC, feel free to contact us
in confidence. We would be delighted to assist you.

2. 2 Molybank Offshore Company Information Pack | www.molybank.co.uk
What is required to open an offshore bank account?
At Amanda J Molyneux & Company Limited we are proud to offer a guaranteed bank
account with every company that we form, we are able to offer this top class service
because of the hard work and sheer determination we have to be the best at what we do -
it's this perseverance that has resulted in our enviable position as licensed bank
introducers.
Being a licensed introducer enables us to bypass much of the time taken in filling out forms
and waiting days if not weeks for a response from the bank as to whether your account is
approved or not, and what is more, once we have approval, we are able to complete the
application forms for you in no time at all.
Firstly and most importantly, we do not credit score you and bank reference letters are
typically not required, this keeps confidentiality to a maximum.
We are amongst a select few that require very little in the way of documentation and your
account can usually be approved the same day.
You will be asked to complete our confidential three page in-house bank account opening
questionnaire and email it back to us with the following;
1. A clear scanned copy of your passport (certified copies may be required in some cases).
2. A clear scanned copy of a utility bill. This must be no more than three months old and
displayed in English. If the bill is not in English, it must be translated by an official i.e. Official
translator, lawyer etc. (certified copies may be required in some cases).
3. Bank reference letter or a letter from a professional person i.e. a Lawyer or Accountant. If
this is required we will make you aware of this from moment one.
4. A detailed description of your business activities (if a corporate bank account is being
opened) and supporting evidence of those activities. This can be a website address, copies
of invoices, contracts or brochures.
Once this information has been emailed to us we will obtain approval from the bank and let
you know the outcome.
We then use all of this information to complete your bank application forms for you. Saving
you time and hassle!

3. 3 Molybank Offshore Company Information Pack | www.molybank.co.uk
Jurisdictions
Dubai (RAK) – A non-European solution in UAE
Ras Al Khaimah (RAK) is one of the seven emirates that make up the United Arab Emirates
(UAE) situated at the North end of the Arabian Gulf coastline between the Hajar Mountains
to the East and the Arabian Gulf to the West, it also shares mountainous borders with the
Sultanate of Oman. Covering an area of 1,700km, it is located just 53 miles (direct route)
from Dubai and well connected to destinations in the Gulf countries, Europe, the U.S.,
Australia and the Far East. Ras Al Khaimah is the closest emirate to the main shipping lane
the Strait of Hormuz which is the only sea passage from the Persian Gulf to the open ocean,
approximately 20% of the world's petroleum passes through the Strait, making it a highly
important strategic location for international trade.
Ras Al Khaimah is not a producer of oil and therefore has focused on developing a thriving
industry within the industrial sector, housing the world’s largest ceramic tile and sanitary
ware factory alongside many other thriving businesses. Additionally, RAK has
a successful tourism industry with many five star hotels and beach resorts, sun-kissed
beaches and the stunning Hajar Mountains for tourists to explore.
Ras Al Khaimah has remained steadfast on its commitment to promote sustainable
development and economic diversification and within a relatively small amount of time has
been transformed into a magnet of global investments with a large number of local and
international companies. It is one of the fastest growing emirates in one of the fastest
growing economies in the world, the UAE. RAK has become an ideal location for conducting
business with no corruption or red tape and a booming economy.
Benefits of incorporating in Dubai (RAK):
• Low start-up costs
• Fast, simple incorporation
• Ability to issue multiple classes of shares
• 100% Foreign Ownership
• Absolute privacy, confidentiality and protection of assets and information
• Tax Free
• No need to file accounts
• Online Banking and access to funds 24/7
• Ideal for Asset Protection
• Free transfer of funds
• Own real property in the UAE
• It does not require the shareholder/director to be physically present in the UAE for
incorporation
• NON EU JURISDICTION

4. 4 Molybank Offshore Company Information Pack | www.molybank.co.uk
Seychelles – Quick and simple to set up
The Seychelles is a group of Islands in the South West Indian Ocean. A democratic
independent republic, the Seychelles enjoys a high level of political security and is
significantly more prosperous than other countries in the region.
Offshore financial services are one of the largest and fastest growing sectors in the country
with good IT, telecommunication and transport links. The Seychelles is able, accommodating
and sensitive to the needs of business. Incorporation is simple and fast, it is possible to
make use of a Nominee Director to ensure absolute confidentiality, and as the country has
no information-sharing agreements with any other country and has strict confidential
provisions in place, you can be absolutely assured of your privacy and confidentiality. And
what is more, because the Seychelles Offshore is 100% tax free locally there is absolutely
no reporting and no requirement to file accounts or annual returns.
Benefits of incorporating in Seychelles:
• Completely Tax-Free IBC
• Nominee Director services inclusive of fee
• Nominee Shareholder services inclusive of fee, so your name will not be on any
public record
• The Bank account is opened for you, without credit scores being required
• Seychelles Registered Office included
• No requirement to file accounts
• Full business banking facilities with a top rated European Bank, including internet
banking, 3 currency account and access to funds 24/7
• No requirement to pay up share capital
• All first year fees are inclusive of setup fee
• Competitive yearly fees
• Dated companies available if required
• Your own choice of company name at no additional cost

5. 5 Molybank Offshore Company Information Pack | www.molybank.co.uk
Belize – A flexible and accommodating jurisdiction
Belize is a country located on the north eastern coast of Central America, bordered by
Mexico to the North, Guatemala to the South and West and the Carribbean Sea to the East.
Belize has the lowest population density in Central America with just 333,200 inhabitants
over 22,960 square kilometres of land. Belize enacted the International Business
Companies Act in 1990 and it is now considered one of the most modern and user friendly
IBC legislations in the world today.
Benefits of incorporating in Belize:
• No requirement to file accounts
• Completely Tax-Free IBC
• Non EU jurisdiction
• No company secretary is required
• Disclosure of beneficial owners is not required
• Nominee shareholders are permitted
• Shares may be issued with or without par value and in any currency
• There are no minimum paid up capital requirements
• The share register may only be inspected by a shareholder
• An ideal jurisdiction for those in affiliate marketing and for other business types often
considered to be high risk business activities
• Your own choice of company name at no additional cost
Amanda J Molyneux & Company Limited also specialise in asset protection via the
use of offshore asset protection Trusts. For further information simply visit our
website www.molybank.co.uk or contact us on +44 (0)1305 853310 and we will
send you a brochure.