The Operating Agreement is agreed by all the members of the Offshore LLC, and it can be as simple or complex as they desire.
An Offshore LLC can have offshore corporations as members, they can open offshore corporate bank account, it may be formed and managed from any part of the world. Offshore LLCs do not have to file any corporate, audit or tax reports, or accounts of any kind with the government authorities. There is no requirements for bookkeeping or annual meetings, and the names of the members can be kept secret since they do not have to be recorded at the Registry´s office. Offshore LLCs cannot issue bearer shares, instead they issue ownership certificates for the members, upon Operating Agreement.
Advantages:
- Creditor cant reach assets
- Offshore LLCs are disregarded for tax purposes. No returns or informational filings are required
- Estate tax advantages are the same as the Family Limited Partnership
- No nationality nor residency requirements for members of an Offshore LLC
- An Offshore LLC do not requires directors or officers
- Offshore LLCs are confidential
- They can be incorporated in almost any place
- Can carry out almost any legal activity