Having an offshore company presents a great many advantages over its onshore equivalent. There are three main reasons a business may choose to set up offshore.
- Offshore companies for trading;
- Many companies which trade overseas have offshore bases.
- Some of these companies choose to set up an offshore company, mainly to benefit from substantial tax savings.
- Tax savings can be available to a company of any size, from small business to giant corporations.
- Offshore companies for protecting a directors identity;
- Due to local investment restrictions or risk of actions from creditors, directors may wish to keep their identities secret.
- Offshore companies are able to own properties, hold money and shares and other items in their own right.
- This means that an individual can use their company to make various purchases and then be protected by the fact that no one can discover that the company is owned by that person.
- Off course, levels of privacy available differ with different off shore jurisdictions.
- Offshore companies for the tax savings;
- The zero or minimal tax rates applicable to offshore companies makes them very attractive to profit driven businesses.
- The prospect of retaining all the income earned leads to some businesses opening offshore branches and using them as trading vehicles.
- As well as corporate tax savings, offshore companies usually enjoy tax-free capital gains and inheritance charges.
At my firm, Farringdon, we can help you set up an offshore company to enjoy all these benefits in any of the following jurisdictions;
The suitability of offshore companies to a particular individual can only be ascertained after a reasonably detailed analysis of their financial situation, their future plans and their goals. However the attractions of offshore companies is clear so if you have any interest in such a venture please do get in touch with me and we can begin to talk things through.
I hope that you have enjoyed reading this post.
Kuala Lumpur : Malaysia