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How to Open an Offshore Company in Delaware

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In a series of articles we have told you about how the U.S. became the new tax haven and that one of the best places to open an offshore account or a company to protect your wealth is Delaware. This has spiked the interest of many international investors who are constantly looking for ways to find more privacy for their finances. Certainly, one of the ways to do that now is bringing your wealth to certain states in the U.S. Having read that, naturally you would want to know how to open an offshore company in Delaware and we will give you the answer.

Why open an Offshore Company in Delaware?

The benefits of opening an offshore company in Delaware are many. Here’s just a small list:

  • The Director, Officer and shareholder could be the same person and a non-U.S. citizen.
  • No limitations over where you would keep your company books and records.
  • Personal liability of directors and shareholders is limited.
  • Low franchise tax
  • No tax on foreign earned income
  • No sales tax (VAT)
  • No tangible property tax

 

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When is it not a good idea to open an offshore company in Delaware:

  • If you have employees or physical presence (office) in other states. This does not apply to your international offices or remote working.

How Difficult is it to open an offshore company in Delaware?

The procedure of opening an offshore company in Delaware is not complicated at all. As a foreigner you have the right to form and own a company in the U.S. unless you have been specifically prohibited by law. This would apply if you are:

  • A minor
  • A resident of a country, continuously providing support for terrorist organizations
  • A resident of a country that does not conduct diplomatic relations with the U.S.
  • A resident of country whose government is not recognized by the U.S.

If none of these applies to you then the procedure for creating your offshore company in Delaware will be pretty straightforward. There are many companies whose main purpose is to help you form your own organization in Delaware. In general you will need:

  • Your proof of identity (passport)
  • Chosen name for your company (must not contain words like university, insurance, bank or lottery).
  • Contact details
  • Payment for the formation of the company.

The process also doesn’t take too long. Most companies who offer incorporation services in Delaware will process your application within 2-3 working days, which is quicker than waiting times in other states, where the same process takes 5 to 7 working days.

How much does it cost to open an offshore company in Delaware?

The prices of opening an offshore company in Delaware vary significantly depending on the providers. It can be anything from $600 to $1200 if the member’s name is stated on the Certificate of Formation or up to $2,500 if you don’t want the name to be present on the Certificate. There are also annual fees between $400 and $800 but bear in mind that these cover some of the following services:

  • Opening a bank account for the company, internet banking and credit card
  • Private data protection

A dedicated manager

Offshore Company

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Something very important to take note of is that not all companies who offer incorporation services online are legitimate. You wouldn’t want to become a victim of an online fraud. The best policy is to consult with a tax attorney who will be able to tell you the exact requirements and point you at the right direction to complete the process of forming your offshore company in Delaware. Click here to email us and start your project.

Readers should note that this article is only intended to convey general information on these issues and that FAS CPA & Consultants (FAS) in no way intends for the contents of this article to be construed as accounting, business, financial, investment, legal, tax, or other professional advice or services.  This article cannot serve as a substitute for such professional services or advice.  Any decision or action that may affect the reader’s business should not rely solely on the contents of this article, but should rather be consulted on with a qualified professional adviser. FAS shall not be responsible for any loss sustained by any person who relies on this presentation.  This article is subject to change at any time and for any reason. 

 

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Fulton Abraham Sanchez, CPA

Fulton Abraham Sánchez, CPA I am Certified Public Accountant, specialized in Tax Planning & Offshore Strategies for Real Estate, Hedge/Equity Funds, Fintech, Crypto, Expats, IRS Debt Resolution. You can email me fa@fascpaconsultants.com and follow us on Facebook : FAS CPA & Consultants.

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