Limited liability companies are considered extremely popular business structures in most parts of the world. With a limited company formation, the company directors tend to enjoy LIMITED liability. At the same time, the financial aspects of the company don’t take a toll on the personal finances of the owner. Kindly note that such is not the case when it comes to those professionals who run a business as a sole trader. If you are a shareholder for the limited company, you will not be held responsible for any kinds of debts that the business has succumbed to. However, you may be asked to become a guarantor for the commercial loans being taken in the name of the business.
Registering the Limited Company
Setting up a limited company is not a difficult process. However, you need to consider the rules and guidelines being formed by the regulatory body for registration of the limited company in your jurisdiction. It is the regulatory body that plays the integral role of maintaining the registry of the companies. Before starting the business as a limited company, it is necessary for the company to get registered with the Regulatory Body.
The same rule goes for offshore company formation too. The entire approach can well be much simpler than you have ever thought. Either you can handle it yourself or may hire services of a Regulatory Body agent to handle the proceedings. You can also look for a company formation agent to get the proceedings carried out online within a matter of a few hours.
Opening an offshore bank account is equally crucial part of the process. However, there are numerous guidelines and regulations to follow while going through the offshore banking process for your limited company. However, as long you are complying with the jurisdiction and those that are regulating the overseas bank, there’s no need to worry about in regards to the legality aspects.
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