Business owners may choose to form an international LLC for increased asset protection. An LLC that operates internationally is also known as an offshore LLC. You can still operate your business in your home country, but the benefit is the LLC operates under the guidelines of a country that may allow better rules and tax benefits than your home country. The process of forming an international LLC can be pricey and will require a third-party company that can form the company on your behalf.
Choose a country to form your LLC. There are many countries that are well known for accepting offshore LLCs; Switzerland, Panama, and the Isle of Man are a few. Some countries allow you to offer services that you probably would not be able to offer in your home country. For example, in the United States it is illegal to offer online casinos and gambling sites that accept credit cards. A third-party registered agent for your LLC can also assist you in choosing the proper country for your business.
Choose a specialist that can form your international LLC in the hosting country. There are quite a few companies that provide this service and prices are competitive. Choose a company that has been in business the longest and offers the most services for forming your LLC. Choose a company that in addition to forming your LLC, opens a corporate banking account on your behalf. Speak with your accountant to find out suggestions for the best offshore LLC specialist.
Have two major forms of identification that would need to be copied and sent to the offshore formation company. Your passport and your drivers license are typically requested. You may also have to pay courier fees and first-year legal fees when initially registering your LLC, and you may have to pay a yearly registration fee for your LLC, based on the country.
Keep all documents from your form LLC in a safe place as the prices to replace any of these documents may be expensive going through your LLC formation company.