Offshore Advisory Group
"Securing Your Business Interests with International Expertise"
OAG stands as a well connected organisation, offering comprehensive business consulting services and access to a diverse array of resources and connections.
Opening an offshore branch or a new company in EU or non-EU jurisdictions provides various benefits for a UK-based company.
These advantages include financial, regulatory, and strategic incentives.
Since 2010, OAG has been at the forefront of facilitating the formation of offshore business structures for international companies across numerous global jurisdictions.
Global Business Connections
The significance of business connections cannot be overstated. They can pave the way for securing major clients and lucrative contracts.
In the realm of business, the adage “It’s not what you know, it’s who you know” holds as true today as ever.
Establishing and maintaining a robust network of connections is paramount for success.
Our Services
Our comprehensive services include the provision of appointed representation, correspondence addresses, directors, banking, finance, and legal documentation solutions, tailored to discreetly meet the specific needs of your business.
Let us guide you in navigating the complexities of offshore business management, so your company can thrive and reduce regulatory and taxation burden.
UK Directors and Business Owners
With punitive changes to tax, national insurance, and HR legislation under the Labour Government set to increase the financial and regulatory burden on UK businesses, now is the time to explore the significant efficiencies and cost mitigation that offshore solutions can offer.
For companies incorporated in the UK, setting up offshore operations will help alleviate the impact of these punitive measures, ensuring your business remains competitive
Get connected with OAG to discover how we can help you protect your assets, optimise your operations, and achieve legitimate significant tax savings.
TRNC Companies and UK Operations
A company registered in the Turkish Republic of Northern Cyprus (TRNC) can legally own 100% of a UK company and invoice the UK entity for intellectual property (IP) licensing and management fees. However, navigating the legal, tax, and regulatory landscape requires careful planning and expertise.
At OAG, we specialise in managing these critical considerations to ensure full compliance in both jurisdictions.
UK law permits foreign entities, including TRNC companies, to own shares in UK companies. The ownership structure must be properly documented in the UK company’s official records, including the shareholder register, to maintain compliance.
A TRNC company can invoice a UK company for IP or management services, provided there is a clear and commercially valid arrangement. These transactions are supported by formal agreements that define the nature of the services, fees, and payment terms.
To avoid being perceived as a tax avoidance arrangement, the TRNC company must demonstrate sufficient substance and active management of the IP or services it provides. This includes maintaining a legitimate business presence arranged by OAG.
At OAG, we prepare clear and enforceable agreements to establish a compliant and transparent relationship between TRNC and UK companies.
Our services include:
Drafting contracts for IP licensing and management services.
Ensuring the TRNC company has sufficient substance to justify its role.
Aligning ownership structures with both UK and international tax laws.
By partnering with OAG, you can confidently structure and operate your TRNC and UK business arrangements while ensuring full compliance with relevant regulations.
Contact us today to discuss your offshore business needs and explore tailored solutions that work for you.
Relocating Your Business to the Turkish Republic of Northern Cyprus (TRNC) with the Famagusta Free Economic Zone (FEZ)
Famagusta Free Port and Zone provides a unique and competitive environment for businesses aiming to optimise operations, reduce costs, and expand internationally.
Here’s why FEZ is the preferred choice for companies across the globe:
Zero Corporate Tax, Income Tax, and VAT: Benefit from full exemptions without the need for claims.
Customs and Stamp Duty Exemptions: Facilitate seamless international trade without incurring additional duties.
No Time Limits: Enjoy tax and duty exemptions as well as other advantages indefinitely.
Unrestricted Stocking: Store goods within the free zone for an unlimited period.
Free Profit Transfers: Transfer income and profits globally without restrictions or approvals.
Minimal Trade Restrictions: A broad range of goods is permitted, including alcoholic beverages and cigarettes, which are restricted in most other zones.
No Currency Limitations: Conduct transactions in convertible currencies without restrictions.
Prime Mediterranean Location Access to Key Markets: Strategically positioned at the crossroads of Europe, the Middle East, and Africa.
Efficient Connectivity: Close to freeport shipping lanes, Ercan Airport, and major oil facilities, ensuring smooth logistics.
Reduced Bureaucracy: Processes are streamlined to minimise administrative burdens.
Competitive Infrastructure: Offers world-class infrastructure at lower office and warehouse rents compared to other regions.
Privacy and Asset Protection Confidential Ownership: Protect your business interests with private corporate structures.
Financial Privacy: Ensure sensitive financial information remains undisclosed.
Secure Asset Separation: Shield parent company assets from external claims.
Economic Risk Diversification: Mitigate risks associated with market uncertainties, particularly for UK-based businesses.
FEZ combines strategic location, cost savings, and operational flexibility to offer an unparalleled environment for businesses. Whether establishing a new venture, diversifying operations, or enhancing global trade, it provides the ideal tax free solution for growth and success.
Why Choose the Famagusta Free Zone (FEZ)
Key Benefits of the FEZ for directors and companies.
Tax and Duty Exemptions: Zero Corporate, Income Tax, and VAT: Significant cost savings through full exemptions.
Customs and Stamp Duty Exemptions: Seamless international trade without additional duties.
Prime Mediterranean Location
Access to Key Markets: Positioned at the crossroads of Europe, the Middle East, and Africa.
Efficient Connectivity: Proximity to freeport shipping lanes, Ercan Airport, and major oil facilities.
Unlimited Storage: Flexibility to stock goods for as long as required.
Flexible Trade Policies
Free Profit Transfers: Unrestricted movement of earnings to any location globally.
Minimal Trade Restrictions: Accommodates diverse industries with broad allowances for goods.
Enhanced Asset Protection
Secure Asset Separation: Shield your parent company’s assets from external claims.
Economic Risk Diversification: Strengthen resilience against UK market uncertainties.
Privacy and Confidentiality
Confidential Ownership: Maintain discretion with a private corporate structure.
Financial Privacy: Protect sensitive business information from public disclosure.
FEZ combines strategic location, cost savings, and operational flexibility to offer an unparalleled environment for businesses. Whether establishing a new venture, diversifying operations, or enhancing global trade, it provides the unique tax free solution for growth and success.
Non-CRS Banking Famagusta Free Zone (FEZ)
A non-CRS bank is a bank that is not subject to the Common Reporting Standard (CRS), an information-gathering and reporting requirement for financial institutions.
The Advantage of Non-CRS Banking in Famagusta Free Zone (FEZ)
One of the unique aspects of TRNC is its non-participation in the OECD’s Common Reporting Standard (CRS). This position enables companies to operate with greater financial privacy compared to jurisdictions that comply with CRS reporting requirements.
Benefits of Non-CRS Banking for FEZ-Based Companies
Enhanced Privacy: Non-CRS banking ensures that financial information is not automatically shared with other tax authorities, providing added discretion.
Streamlined Account Management: Non-CRS status reduces compliance burdens, making it faster and easier to open and manage accounts.
Optimised Financial Planning: The zero tax environment allows businesses to structure finances flexibly, reducing tax liabilities and administrative costs.
The banking environment is both stable and supportive, backed by the TRNC government’s commitment to attracting international business through confidentiality and ease of operations.
The TRNC has an advanced banking system, and in addition to the Central Bank and the Development Bank, there are 21 commercial banks and 7 International Banking Units (IBUs).
UK Anti-Avoidance Compliance
The offshore arrangement offered by OAG is designed not solely for tax minimisation but to provide enhanced financial privacy and facilitate efficient business practice, trade and investment.
To ensure compliance, the structure must reflect legitimate commercial activity and align with UK regulations, avoiding practices that might be deemed as purely tax-driven.
Proper documentation and economic substance demonstrates the arrangement’s genuine business purpose, nullifying potential challenges by UK authorities like HMRC.
Why Connect With OAG?
Since 2010, Offshore Advisory Group (OAG) has been helping UK businesses navigate the complexities of global expansion. With our expertise, businesses can confidently establish a presence in key offshore locations, optimising operations and unlocking new opportunities for growth.
Partnering with OAG means gaining access to a full suite of services tailored to help your business succeed in the Famagusta Free Zone (FEZ):
Appointed Representation and Compliance Support:
Navigate local regulations effortlessly with our dedicated representation and expert compliance guidance.
VAT, Customs, and Operational Strategies:
Benefit from tailored advice to streamline your business operations, ensuring full compliance while maximising efficiency.
Tax Efficiency and Cost Saving Solutions:
Unlock the full potential of the FEZ’s tax exemptions and incentives, allowing your business to achieve significant savings and long-term profitability.
With years of experience and a proven track record, OAG ensures your transition to the Famagusta Free Zone is seamless, efficient, and profitable. From securing cost savings to enhancing operational flexibility, we’re committed to helping your business thrive.
Take the first step towards strategic growth and long-term success with OAG. Contact us today to learn how our expertise can empower your business for a tax and hassle free future.
ICAEW Certification
At Offshore Advisory Group (OAG), we pride ourselves on delivering services backed by the highest professional standards.
Our team includes members certified by the Institute of Chartered Accountants in England and Wales (ICAEW), a globally respected qualification in the field of accountancy and business advisory.
The ICAEW certification ensures our professionals possess:
Unparalleled Expertise: Comprehensive knowledge in financial management, taxation, and corporate governance.
Ethical Standards: A commitment to integrity, objectivity, and accountability in all our operations.
Global Recognition: ICAEW membership is internationally recognised, reflecting the highest levels of competence and professionalism.
By integrating ICAEW certified professionals into our advisory services, OAG guarantees meticulous compliance, reliable financial guidance, and strategies that align with international best practices.