What is an offshore company? This is a legal entity you form outside the country of your residence. It may be a little trickier than starting a business in the country where you live – so why do entrepreneurs opt for offshores? Many international corporations, including Microsoft, Apple, and Hewlett-Packard, set up offshore branches – and they have a lot of reasons to do so that we will discuss later on.
Establishing an offshore company requires some knowledge as the procedures may differ from what you are used to in your home country. With that in mind, we would like to invite you to our portal where you can read much more on setting up an offshore business and get in touch with specialists that will explain all the nuances to you.
You can ask our experts any questions, share your doubts, or use our free services: we do not charge anything for selecting the best jurisdiction to set up your business (after analyzing your situation) or picking the right bank that will help you achieve your financial goals in the best way. We also have turnkey packages for those who wish to have a hassle-free experience: all you will need to do is to collect the documents and pay for our services, and you will get your fully-operational company or bank account in no time.
Reasons to Form an Offshore Company
There are a number of reasons why future business owners opt for offshores, and the most convincing ones are those that match your priorities. You can achieve the following important goals by setting up a legal entity in offshore jurisdictions:
- Access to international markets. The laws in your country of residence may restrict investments in some international projects, while an offshore company will make it possible for you to form a really diversified investment portfolio.
- Import and export operations. Offshore companies usually enjoy simplified export and import operations and often have the right to low or zero duties.
- Cooperation with partners worldwide. Offshore companies are international instruments that are focused on global business relations, and all the required procedures will usually take less time and effort if you are an offshore business owner.
- Inheritance arrangements. If you have an offshore company, it will be much easier for you to create an inheritance trust and manage the inheritable assets. In most cases, it will be much more convenient than a simple will.
- Offshore banking services. Offshore banking can be pretty convenient if you choose the right bank (and we will be happy to help you with the choice). Even high-risk companies will find a financial institution that will fully meet their needs.
- Remote company management. This is an additional level of freedom that some business owners put as a top priority. Of course, you may need to make some arrangements on-site. However, once it is done, you will make key decisions online and run your company from afar.
- Establishing a trust. Most entrepreneurs want to have enhanced asset protection, and some offshore jurisdictions are real strongholds that will keep your money intact. An offshore LLC and a trust are a powerful combo for making and preserving your money (we will help you choose the right jurisdiction to make it work).
- Confidentiality. While absolute confidentiality is a thing of the past, offshore jurisdictions still do their best to provide their customers as much privacy as they possibly can. You can use a nominee service in the majority of these destinations to keep your identity secret.
- Economic stability. Most offshore countries heavily depend on foreign capital, and they know very well that business feels good in stable conditions only. Therefore, they attract international investors by creating stable and predictable economic and political conditions to remain safe havens even when the world is shaking.
- Easy incorporation procedure. You cannot form an offshore company overnight as you will still have to undergo a number of checks: offshore jurisdictions comply with international requirements, otherwise they will be blacklisted. However, local authorities take an effort to eliminate the number of administrative hoops you will have to jump through, so expect a minimal amount of paperwork.
- Plan B. If you have a company in one country, you are at risk. And if you have an offshore business in addition to that, you will be considerably safer. Far-sighted people know that, so they make arrangements in advance to rely on the second business if the situation in one country deteriorates.
- Taxes. Offshore destinations offer low (or zero) taxes on one condition: you generate 100% of your income abroad. And this is one of the most attractive features for foreign entrepreneurs.
- Minimal reporting. The majority of offshore destinations do not require entrepreneurs to submit annual financial reports or have them audited.
Some reasons may seem more important to you than others, and this is excellent: it will simplify the choice. For example, if asset protection is of utmost importance to you, opt for Nevis or Belize to get the best conditions in the world. Contact our experts by clicking on the above link to find the best jurisdiction for you.
A Brief Overview of Jurisdictions
Here are some tips that may help you select the destination that is best suited for your business needs:
- If the majority of your partners come from China, the most convenient jurisdictions for you are Hong Kong or Singapore.
- Lured by the opportunities of the US market? Set up your company in Costa Rica, Panama, or the Caribbean region.
- Need a gambling license? Curacao or Costa Rica are the jurisdictions that have a simplified issuance procedure.
- Have an excellent idea for a financial start-up? Look no further than the UK, Estonia, or Luxembourg.
- Finally, if a banking license is crucial for you, opt for Panama, Vanuatu, or Saint Lucia.
Conclusion
This is a short post, and some questions may remain unanswered – for example, you may need an offshore company very quickly. Do not hesitate to follow the above link and contact our specialists: we know a jurisdiction where you can set up a company within 5 business days in an absolutely legal way (from the moment you submit a full package of documents)!
