Wendy Wei
Gangfeng Group Chairman / General Manager
Chief Consultant of Offshore Planning
Vice President of Shenzhen Business Federation
Executive Director of Futian District Chamber of Commerce and Industry (General Chamber of Commerce)
Committee Member of International Youth Chawnese Solidarity (Shenzhen)
Director of Guangdong Entry and Exit Immigration Association
Member of Asian Offshore Association
IIUSA member
International Financial Manager (IFMA)
Registered Forensic Accountant in the United States (FCPA)
In recent years, with the rapid development of the market economy, many enterprises are facing a transition, or need to explore international and overseas markets through the influence of their own brands. Offshore companies are increasingly becoming mainland investors’ focus. As far as the global market is concerned, there are tens of thousands of newly-registered offshore companies appearing every year. Commercial operations through such offshore companies have also become commonplace in the global market. What is the reason for this? What are the advantages of registering an offshore company? How can such a large wave rise in the domestic market?
Registered offshore companies – The "first pass" for enterprises to go abroad
With the growing integration of the world economy nowadays, commerce is increasingly showing a trend towards cross-border development. Domestic enterprises often enhance their strength, expand their business areas, and improve their international image through multinational operations. In general, foreign companies need a vehicle that can be mutually trusted for business transactions. At times like this, offshore companies can play an important role.
Offshore companies are known by many beautiful titles, such as the curve of an "elegant inflection point", the "soft armor" of venture capital, an eclectic "land of change”, and a legally tax-efficient "fengshuitreasure-land”. All of these names show us that offshore companies have all sorts of magical powers. Offshore companies are becoming a hot topic for international traders and investors. This is because registered offshore companies have three characteristics: a high degree of confidentiality, tax relief, and no foreign exchange controls.
There is an explicit provision in the area of offshore law that allows all of offshore companies’ shareholder information, equity ratio, income status, etc. to enjoy confidentiality. Moreover, offshore jurisdictions do not impose tax on such enterprises, and only charge a negligible annual management fee, which helps many foreign trade companies to circumvent trade barriers. Meanwhile, all major international banks recognize such companies and offer services that facilitate the setting up of bank accounts and financial operations. Therefore, investors do not have to visit that particular location, and their business operations can be carried out directly anywhere in the world. This is why the registration of offshore companies has become the first pass for enterprises to go global.
Registration of an offshore company is a simple process but may encounter many “traps"
The registration procedure for offshore companies is very simple. There is no need for a registrant to visit the place of registration. It can be handled directly by a professional registration agent. Generally, all registration procedures can be completed within 2-3 weeks. It is worth noting that although the procedures for registering offshore companies are not very complicated, they depend on the relevant laws and regulations of the offshore jurisdiction, so it is better for enterprises and investors who are not familiar with the local market to look for a professional and powerful agent for registration on their behalf. Only in this way can you save yourself time and effort, and receive more professional service.
Nowadays, within the world of onlinepromotions for offshore company registration, there are many low-priced companies whose products are tied up in trickery. For example, they use low prices to trick customers into trusting them and then disappear after receiving the money, or they add a number of hidden consumption items after receiving a deposit, or they charge the customer for submitting a registration application, but provide no subsequent services. At this point in time, it is necessary to make a judgment, and select the most professional team to fulfil overseas companies’ registration.
In the offshore company registration industry, Gangfeng has enjoyed a good reputation for over 20 years. It has provided offshore registration services in more than 60 countries and regions, and has successfully helped countless enterprises to go global.
Caution is needed when registering an offshore company and choosing a place of registration
For those who wish to establish a business or manage personal assets overseas, the political and economic stability of the location of an offshore registration is a factor that must first be taken into account. Secondly, we must examine the soundness of professional organizations because all overseas companies require legal and accounting services. This requires the jurisdiction to have law firms and accounting firms that can provide services of international standards.
In addition, it is necessary to examine the requirements of local banking services and local company law legislation on accounting and auditing. It is also necessary to consider whether the local legislation can protect the confidentiality and complete privacy rights of customers' business activities. All these require a professional team for assessment. Gangfeng’s team is composed of multiple senior professional experts, including more than 180 CPAs, CTAs, CFAs, ACCAs, M&A traders, practicing lawyers, over 30 immigration lawyers, more than 20 financial planners, and in excess of 100 professional consultants, who can provide customers with professional one-stop overseas asset allocation services.
When registering an offshore company, professional matters must be delegated to professional people
Gangfeng is the earliest leading enterprise to enter the overseas offshore industry. It is the first full-range overseas strategic layout service platform in the industry to provide Chinese entrepreneurs with an overseas corporate structure, international financial services, intellectual property protection, tax planning for overseas operations, international investment and financing, overseas immigration planning, overseas education for overseas students, overseas real estate, and wealth allocation planning. With more than 10,000 enterprises served and more than 10,000 casessuccessfully handled, Gangfeng has always been a leading and exemplary enterprise in the industry.
Gangfeng was founded in Hong Kong in 1997 with branches in Shenzhen, Beijing and Shanghai. In the future, Gangfeng plans to deploy its services to more first- and second-tier cities such as Hangzhou, Guangzhou and Tianjin. Today, the prototype of the Hangzhou branch has basically been completed, and the Hangzhou branch will soon be established. While expanding the scale of the company, Gangfeng will also strengthen the pace of expansion of its overseas business, striving to develop more projects that will facilitate domestic companies in going abroad, and help both enterprises and individuals integrate within the international community more easily. This is because the mission of Gangfeng Group has always been to help more companies go abroad and help more Chinese people head into the world!
Of course, the development of an enterprise requires internal and external cultivation. Human beings are great because of their dreams, while businesses are prosperous because of their culture. Thomas Peter, a management scientist, believes that the most important condition for an enterprise to survive for a long time is not “structural form or management skills”, but “the spiritual power that is called faith, and the emotional appeal that this faith has to all members of the organization." Therefore, Gangfeng will continue to enhance the professional quality of its employees, strengthen the concept of high-quality service, and actively promote its corporate culture, to forge the team into the most trusted and respected professional team in the industry!Gangfenghas been pursuing a dream for one hundred years, and joins hands with partners towork together in creating a brilliant future!
