Set Up an Offshore Company

Offshore companies are tax free entities and therefore enjoy a lower tax burden than regular companies. To set up offshore company, it must be agreed that no income is sourced from within the territory in which the offshore company is incorporated and that all trading and commercial activities take place abroad. To set up offshore company, the directors and shareholders must not be residents of the jurisdiction, and this qualifies the directors and shareholders from being liable to local withholding and income tax. A series of strategies can be employed for an offshore company to minimize the amounts spent in taxation. To set up offshore company is a wise way of securing financial success and lower tax obligations.

Protect Assets

Many people and corporations intend to set up offshore company in order to find a means of protecting their assets. Assets can come under many threats which may be posed by the less suspicious persons or circumstances. To set up offshore company to protect assets means to reduce personal net worth and have that wealth transferred to another entity, such as an offshore company, offshore trust or an offshore foundation. To set up offshore company for this purpose, it must be understood that each of these offshore entities have their distinct strategies, strengths and benefits, so informed decisions should be taken when deciding to set up offshore company to protect assets.

Make your business what it is; ‘your business’

The set up of offshore companies is pursued by many people for the simple pleasure of doing business privately and not having anyone involved in certain matters. There are times when one feels that not even spouses, children or colleagues can be trusted sufficiently with certain matters and alternatives have to be sought for advice and assistance with making decisions regarding wealth, retirement, inheritance and succession. Setting up offshore companies has provided solutions to many people and directors/shareholders of companies who found themselves in similar situations and needed to look offshore for reliable and confidential assistance. Making your business, ‘your business’, by the set up offshore company grants access to international tax advisors, wealth planning experts and other corporate and legal facilities that can help solve many personal preoccupations and produce results.

Trade anywhere, everywhere

Offshore companies are international business companies that are used for trade and transactions internationally. To set up an offshore company would thus mean access to new markets, maximizing sales and strengthening product potential by either providing a standard product or customizing to suit the specific tastes of a particular region or territory. In any of these instances, the set up of an offshore company helps to increase the chances of closer access to raw materials and special skilled workers for production. As legal business entities, offshore companies are widely accepted, are expected to engage only in legitimate business activities and transactions and are required to trade under the names approved in the jurisdiction in which they are incorporated.

 

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