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Minimising taxes and increasing confidentiality are not the only benefits of setting up an offshore company. Although tax effectiveness is the first and foremost benefit that comes to mind when considering offshore companies, the opportunity to considerably reduce business overheads is also a very attractive bonus.
Here are the six key benefits of offshore company formation:
Registering an offshore company can legally minimise the tax obligations of a business and this is often the primary reason for incorporating a business offshore. Non-resident companies are often tax exempt or enjoy low levels of taxation depending upon the country. However, corporate taxation matters can become very complicated and it is very important to be guided by an experienced professional. Ensuring that there is no conflict with the tax obligations in the country or jurisdictions where the business operates is essential.
Non-resident companies, in some countries, are not required to publish financial information or the details of directors and shareholders. Most offshore financial jurisdictions will not reveal any of this information to any third party unless criminal or terrorist activities are suspected.
The legal obligations of any directors or officers of an offshore company are often much less. The need for accounting, other staff or a physical office can also be overcome with cost-effective virtual office services – saving time and money.
For those with international business interests, an offshore company can be valuable as a vehicle for holding assets such as intellectual property or real estate investments.
Even with increasing anti money-laundering measures being applied and enforced to block funding for terrorism and prevent the proceeds of criminal activities from being hidden, the process of setting up an offshore company can be relatively fast and simple. This can translate into lower costs in both the establishment and maintenance of an offshore company.
Registering an offshore company will require minimal capital, usually less than what is required for an onshore registration. In certain jurisdictions there is in fact no capital needed for registration.
Setting up an offshore company does not have to be complicated and can provide many benefits for individuals or companies involved in business across international borders.
Infinity has strong relationships with long-established and experienced international advisers giving us the ability to set up offshore registration for businesses in a variety of secure jurisdictions. To discuss the benefits of setting up an offshore company in, more detail, contact us today.