IBC FAQ - 5 of 5

Why Should I Deal With A Can-Offshore Specialist?

We are full-time, dedicated, practitioners who live in Canada and understand the tax and legal issues in Canada. Unlike other agencies in Canada, we do not accept American or any other foreigner just to sell a useless Trust package.

We focus on making the experience as private, secure, and professional as you can expect. We will patiently provide answers to all your questions, until you reach a comfort level and make a decision. Our experience will guide you through the typical risks and get you to your objective safely and quickly.

We personally travel to and meet most of our established foreign sources around the globe and perform initial due diligence. We keep our business relationships healthy and continue to monitor the services and laws of each source.

We deal directly with the Registrar and Government sources, as well as established offshore banks and law offices so our costs are the lowest possible. Compared to resellers who purchase from middlemen-providers, you can easily pay 5 - 10 times the amount from some lawyers, to support their high costs and overhead.

Can You Refer An Experienced Lawyer?

Yes, we have worked with many lawyers across Canada, and may refer you to one, or you can find one locally.

News: Ottawa has passed a "squeal law" that requires lawyers to report any suspicious financial (offshore) transactions to Ottawa/CCRA without telling the client. This is what Nazi Germany did to their lawyers, and although it has been overturned, the legislation had been passed, and is expected to return again. In the UK a lawyer was jailed for 6-months for not squealing on his client. Accountants were forced to squeal about two years ago with requirements to report their offshore clients.

Can Your Records Be Seized In Canada?

First, we do not do anything unlawful that would warrant a seizure. Second, we practice an over abundance of security and privacy, including PGP data encryption, digital and paper shredding, and no storage of client names outside of our law office files. We encourage our Canadians to use a lawyer, and can refer an experienced one to you, which can provide the shield of Solicitor/Client privilege from Feds or creditors. Often, the lawyer sub-retains us to further extend the lawyer confidentiality privilege.

What Happens If Can-Offshore Disappears?

When an IBC is created it is a mandatory requirement to have a Registered Office and Registered Agent to serve such needs. Can-Offshore gives you the contacts for the Government, Bank or lawyers office used in the country of incorporation, which you could use in the event of our death or disappearance.

What About Costs?

Costs differ from country-to-country, and are subject to change at any time. We also have IBC Packages from time-to-time, that are subject to availability.

A complete IBC package start from $1995 US. and include a corporate nominee Director, a multi-currency online corporate Bank account, Contractor agreement, Power-of-Attorney agreement, and a corporate e-mail and fax number setup. Minimum account opening balance is $1,000. USD.

You may add a secured or debit card, or a brokerage trade account, which vary in cost depending on factors such as objectives and preferences. See our Offshore Debit Credit Card  page for current details, or Offshore Banking for general information.

For maximum privacy, protection, and profits,  we recommend Canadians add a  Charitable Foundation, which owns the IBC shares, so that you are exempted from the report rules. This means the Foundation is the owner, controller, and not yourself. This multi-jurisdictional, multi-layered approach will add $2,000 - $6,000.

What About Annual Renewal Fees?

IBC renewal fees are due at the beginning of the following year. All IBCs incorporated during the calendar year 2002, will be payable in February 2003. Government penalties are

which month you took your IBC! The foreign Government registrar treats all last years IBCs as due this year, they are not interested in which month you took your IBC. (Everyone would say December) They only go by the year.

Current renewal fees for 2003 are $950 USD. due February 2003. They are paid to Can-Offshore, who disburses fees to 1) the Government Registrar; 2) the Registered Office; and 3) the Registered Agent in that country. The $300 Directors fee is also due at the same time - total is $1250.

How Do I Begin?

Use the Contacts page to reach us by Skype VoIP or instant messaging, phone, or email us to ask questions and discuss your objectives. A PGP encrypted form is available to reach us in absolute privacy.

For more information about our services contact us specifying what you are interested in, or the questions you have. We will get back to you with detailed information.

 

This was the last part of IBC FAQ you may return to the Main Offshore IBC below.