OKLAHOMA OFFSHORE INFORMATION

Not recognised as a tax haven jurisdiction. It is ideal for holding companies or trading companies. The most common type of company is the LLC (Limited Liability Company) since this can be structured to avoid charge to US taxation.

ADVANTAGES	Limited liability companies are free from all US taxes. There is no State annual franchise tax. Not recognised as a tax haven jurisdiction.
DISADVANTAGES	None
CORPORATE LEGISLATION SOURCE	The Oklahoma Limited Liability Company Act
COMPANY STATUS	Limited Liability Companies (LLC)
USUAL MINIMUM CAPITAL	No minimum
COMPANY NAME	Prior approval required, some names sensitive
TIME TAKEN TO INCORPORATE	1 - 2 weeks
ARE SHELF COMPANIES AVAILABLE	Yes
CAPITAL DUTY	None
MINIMUM NUMBER OF MEMBERS	LLC's - Two - They agree to hold a percentage in the Company which can be formally documented in an Operating Agreement
ARE BEARER SHARES / SHARES OF NO PAR VALUE POSSIBLE?	No shares issued.
MANAGERS: MINIMUM NUMBER / CORPORATE MANAGERS ALLOWED / LOCATION	No minimum / Yes / No restriction
SECRETARY: MANDATORY / CORPORATE SECRETARY ALLOWED / LOCATION	No / Yes / No restriction
IS THERE A REQUIREMENT FOR A REGISTERED OFFICE / REGISTERED AGENT	Yes / Yes
IS THERE A REQUIREMENT BY THE AUTHORITIES PRIOR TO INCORPORATION OR PRIOR TO TAX STATUS BEING GRANTED	None
INFORMATION AVAILABLE ON PUBLIC FILE	Members details or alternatively, managers details / Registered Agent / Contact address
DOCUMENTS TO BE KEPT AT REGISTERED OFFICE	None
CORPORATE BOOKS AND SEAL	Both required and may be kept anywhere
ACCOUNTS REQUIRED / FILED	No / No
ANNUAL RETURN REQUIRED	No
WHERE ARE MEETINGS TO BE HELD	No restriction
ANNUAL FEES PAYABLE TO THE GOVERNMENT: TAX / ANNUAL RETURN FILING FEE	Nil / Nil
ARE THERE ANY EXCHANGE CONTROLS	None
DOUBLE TAX TREATIES	Numerous

INTRODUCING OKLAHOMA - US

LIMITED LIABILITY COMPANIES

The chief attraction of LLC's is that its owners gain complete protection against liability for company obligations as with a corporation and yet they receive partnership tax treatment. Income and gains are attributed directly to the members and not to the corporation itself.

The owners of an LLC are called "members". Members are similar to the shareholders of a Corporation. The members may exercise direct control over the company, according to their individual percentage of ownership, or may appoint one or more "managers". If managers are used, they perform functions commonly associated with corporate secretaries and directors. The manager can be a trust or a corporate body if required.

Advantages

Limited liability protection for the members

Can avoid paying any taxes in the US, unlike corporations which are taxed on their worldwide income

Members and Managers need not be resident

Avoiding US Taxes

The use of an LCC creates exciting tax planning opportunities for the international community, when all four of the following requirements are met:

1. The members are neither citizens nor residents of the US.

2. The LLC does not engage in a trade or business within the US.

3. The LLC does not have an office or other fixed place of business within the US. It can however use a mail forwarding service.

4. The LLC does not earn an income in the US.

The profits generated by a non-resident LLC are not taxed in the United States. Ownership of the LLC should be established in a tax-free or low tax jurisdiction.