What arethe Benefits of Setting up an Offshore Company?

Tax minimisation is often the foremost advantage that comes to mind when it comes to setting up an offshore company, but this is not the only benefit. Establishing an offshore company also increase confidentiality. What’s more, it has the potential to reduce business overheads by a significant amount.

Minimise Taxes

You can decrease the tax obligations of your business when you incorporate a business offshore. Non-resident businesses are often tax exempt or at least enjoy deferred payment (depending on your home country). Corporate taxation laws are notoriously complicated in some jurisdictions, so be sure to seek the guidance of a consultant.

Increase Privacy and Confidentiality

Some of the best offshore jurisdictions don’t require investors to make public filings of financial information and information about beneficial ownership.  .  They also have strict laws maintaining confidentiality except where there is a court order, criminal investigation or request by a bilateral partner country having a tax treaty with the jurisdiction. 

Reduce Set Up and Overhead Costs

The legal obligations of an offshore company are typically much lower. Even if you need accounting or a physical office, you can easily sign up for virtual office services to save both money and time.  Registering a company offshore also requires minimal capital. Some jurisdictions don’t even require capital for registration. What’s more, the process of establishing an offshore company is fast and relatively simple. This translates into lower costs in the setup and maintenance of your offshore business.

Protect Assets

Do you have international business interests? You may be able to use your offshore company to hold assets such as real estate investments, shares in other companies, investment portfolios or even intellectual property.

Setting up a company offshore can be complicated if you don’t have proper guidance and representation though. This is why it makes sense to hire a corporate services provider specialising in helping investors like you move business across international borders.

The best consultants can advise on the best option and thereafter manage the entire offshore registration process and ongoing requirements thereafter for you.