The Hague Apostille treaty is an international treaty drafted by the Hague Conference and applies to Private International law.
It is used in the Offshore Company Formation industry to enable clients to gain certification that their set of Company Documents are real. In other words, the original company documents are seen by a registered Notary and sworn as ‘true copies. As soon as the true copies are certified then they can be scanned into a file and used to prove to International Banks, solicitors, and corporate agents that they are legitimate.
This is a normal process during the incorporation process and any reputable company formation agent should at least advise you that the process is necessary.
For example, you get drawn into purchasing a cheap company online for £695. The company is formed, and everything is going well. However, you now want to open a bank account for that company only to find out they have asked for certified copies. You go back to your agent and ask them why they did not advise, at the time of purchase, that this was a requirement. They simply sold you a cheap product and now slap you with extra fees. After all, the certification process is not free but at least you should have known about this before purchasing your company.
Another expense that many online agents do not tell you about is the fact that you will also require your own identification documents certifying by a Notary. I can honestly tell you that any reputable offshore bank will require this for the complete application package. And so, they should! Any offshore bank that does not request the notarisation of your identification should be avoided. Not all, but most.
So before jumping in and grabbing the cheapest offshore company formation out there on the Internet. Remember that they should be consulting you, free of charge from the start. Ensuring that you are fully aware of any hidden costs associated with the set up to include the above. Be aware that if your offshore company wants to open an offshore bank account, conduct business internationally, hold shares in another entity or purchase property it is important to get it right from the start.
Our next blog will cover choosing the right offshore jurisdiction for your company and which jurisdictions to stay away from for certain activities.
Choose Intelligent Formations and incorporate your offshore company the right way, the first time.