Offshore accounting services

Create an offshore company — a very popular decision that quite a lot of entrepreneurs take to ease the tax burden on the enterprise, as well as to provide the business with comfortable development, favorable legal conditions and to give confidence that financial transactions will be completely confidential. Seeming at first glance, the absence of any obligations and liability in offshore companies is not such, since a certain control over such companies is still being carried out. And the obligation to maintain accounting clearly indicates this. Our service page explains how international accounting services for a foreign company work with Crystal Tax, including the Ukrainian CFC report.

According to the legislation adopted in offshore countries, non-resident organizations do not submit reports in the general manner, but in order to control their activities, requests for certain data from regulatory authorities in the field of finance and other areas are possible. In addition, banking and other institutions, which are becoming more and more every year, can request accounting documents from classic offshore companies.

The legislation in force in offshore states obliges offshore companies registered in tax havens to establish and maintain high-quality accounting, submitting reports to regulatory authorities at their request. Violation of this procedure is fraught with significant fines and a ban on registration of other firms abroad. Competent accounting will help organize and maintain Crystal Tax.

What should the annual financial statements contain?

There are a number of general requirements for the reporting of offshore companies:

• providing information about all ongoing business transactions;
• submission of copies of contracts and invoices;
• information about the movement of funds.

According to the laws in many countries with offshore jurisdictions, accounting records must be kept for five years.

Skilled employees of Crystal Tax will help to organize accounting and put all the documentation in order, as well as draw up correct financial statements for non-resident companies. We work closely with classic offshore zones — Panama, Belize, Seychelles, British Virgin Islands and other well-known offshore companies, as well as with European countries — Great Britain, Poland, Cyprus.

Why is bookkeeping necessary?

For an offshore company, proper accounting is very important to ensure the successful operation of the company, as this will reduce and even eliminate many problems:

• when compiling a report;
• when passing bank control;
• if necessary, prove the correctness of reporting for fiscal and state bodies and payment of fees and taxes, which gives confidence in their actions;
• when buying and selling a business or its share;
• allows you to control costs, assess the degree of rationality in the use of financial resources and determine the feasibility of a company's offshore activities.

Owners of offshore enterprises who take accounting and financial reporting seriously and responsibly, as a rule, have no problems with the fiscal authorities and are well versed in the real financial condition of their business.

Crystal Tax specialists guarantee accounting in English, which makes it absolutely understandable for:

• controlling authorities of offshore jurisdictions;
• foreign investors and foreign partners;
• banking institutions serving non-residents.

The cost of organizing financial security is economically beneficial and expedient, as it contributes to the rational operation of the business — a real or virtual office or a dedicated website.

Accounting with Crystal Tax

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Crystal Tax experts are well versed in all the intricacies of international accounting standards. They will provide competent accounting:

• enterprise balance sheet;
• profit and loss;
• income;
• Movement of all cash.

Prices for various accounting services depend on various factors:

• amount of work;
• frequency of financial transactions;
• number of cash flows and other important criteria.

In order to get acquainted with the list of accounting services provided or discuss the individual features of cooperation, contact our manager by filling out the proposed online form, or call.