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.
