Offshore is not always linked to tax
When one thinks of Offshore, tax benefits would be the first thing that comes to mind. Tax minimization and confidentiality are not the only benefits of setting up an offshore company. Though tax effectiveness is the first and foremost benefit, there are several advantages that offshoring brings to the table.
Depending on the Jurisdiction and the country or markets with which you want to engage with, a carefully planned company structure can help minimize the tax obligations. Non domestic companies in most jurisdictions enjoy low taxation. Corporate tax however needs to be planned well by deriving the benefits of Double Taxation Avoidance Agreements between the offshore jurisdictions and countries of business interest.
Offshore entities can be used for holding assets such as intellectual property or real estate investments. International Foundations and Trusts are used for asset protection and chart out as to how those assets are passed on to future generations while making them flexible, reliable and tax efficient.
Reduced administration Cost
Minimal Book keeping facilitates a substantial cost saving on staff for a paper work and even a physical office. Effectively a virtual office with the registered agent looking after your accounts is all that is required. Basis changing environment and requirement you can also re-domicile your company from one jurisdiction to the other very easily.
Lower set up and maintenance costs
The process of setting up an offshore company is usually fast and simple. This can translate into lower costs in both the establishment and maintenance of an offshore company. Registering an shore company in most countries across the world can be hassle in terms of initial capital, process and time. Registering an offshore company will require minimal capital, certain jurisdictions there is in fact no capital needed for registration. Typically most offshore jurisdictions take less than three days for incorporation; in some cases just One.
Most offshore jurisdiction require only minimal book keeping. The information is not accessible to anyone. Non-domestic 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.
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. With global presence and decades of experience, AM. Abacus can be the trusted advisor to guide you on international company incorporations for the purpose of Trade, Offshore Fund management, Offshore Banking and Insurance, Wealth protection through Trusts and Foundations