Offshore Limited Liability Companies

An offshore limited liability company is a corporate vehicle designed primarily for sole owners or business partnerships. A partner (Member) of a limited liability company is not personally liable for the debts or liabilities of the limited liability company. Each member's liability is limited to the amount of capital they have contributed to the limited liability company. A member's profit and remuneration is governed either by the member's interest in the limited liability company or by unanimous agreement amongst the members of the limited liability company. Ownership certificates may be issued. These are similar to shares, but may only be voting on the approval of the other members.

The management of the offshore limited liability company is vested in the members of the limited liability company, in proportion to their ownership or as otherwise agreed amongst the members. A member of the limited liability company or an outside manager may be appointed to manage the limited liability company. The members of the limited liability company may agree upon an Operating Agreement.

The operations of the limited liability company are governed by the Operating Agreement. The Operating Agreement is drafted and agreed to by the members. It can be as simple or comprehensive as they decide.

Benefits of Offshore Limited Liability Companies

1. May be opened and managed from anywhere in the world.
2. Tax reports need not be filed with authorities.
3. Company books are not required.
4. Annual meetings are not required.
5. Members´ names need not be disclosed to the Registrar.
6. Bank accounts can be opened and maintained in any country in the world.
7. A person of any nationality may be a member of an offshore limited liability company. This person may reside anywhere in the world.

Characteristics of Offshore Limited Liability Companies

1. A member of an offshore limited liability company is a partner in the limited liability company holding LLC ownership.
2. An offshore limited liability company does not have directors or officers.
3. The management of the offshore limited liability company is vested in the members who may appoint a member or outside manager to manage the company.
4. Members of the offshore limited liability company are issued ownership "interests" in accordance with the capital allotted to them or as otherwise agreed upon in the Operating Agreement. Members are issued ownership certificates.
5. A member of the offshore limited liability company may assign any interest in the LLC, but the interest is non-voting unless the other members of the limited liability company agree.