Offshore Company Formation

With the continuing expansion of ecommerce around the world and the effects of globalization generally, it is increasingly useful for many kinds of businesses to establish companies or business entities in specific countries, in order to best balance factors of:

  • bank and credit card association regulations
  • tax policy and costs — we have special expertise in the Value Added Tax (VAT)
  • costs and requirements for proportions of sales from specific regions
  • regional or processor/bank-specific payment types, currencies
  • trusted relationships and service levels

IPS makes a special focus of developing a full range of services for merchants experienced in — or new to — the benefits and requirements of forming offshore companies. Whether you are experienced in the process or not, we can provide a convenient, consultative level of support to advise you regarding strategic options and to coordinate the process with the setup of payment services. Typically, merchants can take advantage of these competitively priced services to establish their offshore corporations or business entities in a prompt and fully compliant fashion:

Typical Fees:

  • £299+vat for the company formation and a UK Bank Account
  • £200+vat (from) for a nominee director (dormant company)
  • £220+vat per bundle of Notarised documents that you may need for the merchant provider, usually company documents and ID documents of the Nominee
  • £100+vat per year for Bank Mail forwarding
  • Package discounts available

Renewal each year:

  • £269+vat for the filing of all accounts and for the registered office
  • £200+vat for the nominee Director
  • £100+vat bank mail forwarding

General Information for UK Company formations:

The UK company is usually not considered to be tax resident. It is considered to be an extension of the Mother company, and is essentially an EU bank account for the Mother company. This means that all funds have to be transferred over to the Mother company where all taxes will be paid. This is a very common structure for foreign companies who are required to set up EU corps and settlement accounts to work with a processor.

Documents Required:

  • Two types of proof of address from within the last 3 months for all proposed directors/shareholders of the new company. These cannot be mobile phone or credit card statements.
  • Certified Passport copy for all proposed directors/shareholders of the new company.
  • Application form filled in completely and signed

Typical Timeline following completion of documents and payments:

  • The company formation will take approximately one business day
  • Notarised copies of company documents will take approximately 3-4 days
  • Opening the settlement account (if required) will take approximately 7-10 days from when the bank forms are submitted

Typical Process Steps:

Once you have scanned ID and application form over to us, these steps typically follow in order:

  1. We form the company based on info and documents provided
  2. We will receive the company documents the next business day
  3. We will email you the bank forms which need to be printed and signed
  4. You then forward the bank forms, original ID docs and application form to our office by courier
  5. Company documents and Nominee ID is sent to be Notarised
  6. We should by now receive the bank forms and additional docs in your courier
  7. Bank account will be applied for
  8. We should receive the notarised documents back — these are sent to you for your records
  9. Around 7-10 days after the forms have been submitted to the bank we should be able to email you the account numbers


Thank You!

Thank you for you submission, we will contact you soon to proceed with the next steps.

Should you have any questions about the application process, please contact our payment processing provider, Online IPS, who can be reached at either:
– 800.439.1974

After the franchisee data has been input to the merchant bank’s boarding system and any needed corrections have been applied, a “click to sign” electronic copy of the full application and terms will be sent to the contact email address you indicated in the form. The signing franchise owner will review and execute the contract online via a guided process. The file will then continue through underwriting, approval and then to configuration of the account and preparation of the store hardware.

We appreciate your careful and timely attention to this important and exciting initiative. If you have any questions about this program, contact your European Wax Center corporate representative for guidance.