Offshore Company Formation - Reasons and Benefits

An offshore company can give you the benefits of tax reduction or even exemption. This depends on the location of your company and the type of business you are running. Aside from lower taxes, there are many other reasons and benefits to offshore company formation. Here are some:

• Privacy. It is often the case that the directors of an offshore company are not in the public record.  In most cases, the legal framework will also provide that the shareholder are not requiredto be publicly conveyed.  In any case it is possible to appoint professional directors, nominee shareholders and the like.
• Protection of assets. Running a business in a competitive industry can be very risky, so it is important to get as much protection for your assets as possible. There are offshore jurisdictions that are renowned for favourable asset protection laws. It is often best to complement your offshore company with offshore banking facilities, too.
• Lower operating costs. The maintenance expenses involved in an offshore company is generally lower, thanks to the solutions a company formation provider can offer.  Instead of renting space and buying supplies for a physical office, for example, you can opt for a registered office and virtual office instead. There are also company formation providers that can offer management and administration services with their package so that way it is not a separate cost. Starting up a company is also often cheaper offshore. For instance, minimum paid up capital requirements are often as low as 1 share of any amount and currency.
• Ease of reporting. With an offshore company, the laws often provide a less onerous and more flexible approach to annual reporting and accounts. This, of course, depends on the location of your offshore company. But in most cases, the relevant legal provisions in this regard are more accommodating thanfor an onshore company.

If you are looking to form an offshore company, contact an offshore company registration and formation provider that can offer you the best solutions that will fit your needs. Some firms offer pre-set packages, but the best ones can provide tailor-made, bespoke company solutions. Another important thing is to check if the company provider is regulated and licensed by the Financial Services Authority.