Service (International Research Service)
Overseas Entity Management Service
Japanese companies (or individuals) set up shell companies (i.e., entities with no physical substance) such as captive insurance companies, investment companies, holding companies etc., in foreign jurisdictions. These shell companies, however, are not free from local compliance requirements as other local companies do. In many cases the shell companies neglect local compliance requirement, they would be charged big non-compliance penalties and would give bad impressions on the local government authorities.
There are also many cases that Japanese head offices throw everything out to local service providers such as lawyers, accountants or corporate secretaries, but even so there is a risk that the shell companies are paying too high fees or taxes, which would set off the effect of establishing the shell entity. You might say gwe are contracting with local famous service providers, so we do not have to be worriedh, but from our experience it is a pitfall many people fall into.
If there is any concern of local corporate management of shell companies, please do not hesitate to contact us. Based on the ample experience through international transactions we can safely and surely manage your overseas shell entities and local service providers.
(We are also able to provide consulting service relating to setting up companies overseas)
(Contents of our Overseas Entity Management Service)
- Compliance check with regard to tax, accounting, shareholders meeting etc.)
- Periodic communication and negotiation with government authorities and local service providers
- Bank account management service
- Provision of latest local information
- Checking trial balance (monthly), B/S and P/L (yearly)