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The Benefits of Setting up an Offshore Company
An offshore company can offer many benefits and advantages to its owner that would otherwise be impossible to attain without it. With the rise of globalization, setting up an offshore company has become ever more advantageous and easier to accomplish. The benefits to gain from an offshore company will always depend on the the jurisdiction of the offshore company and to a certain extent, it will also depend on the laws of the country of residence of the company’s owner. It is therefore necessary that you not only pay attention to the offshore jurisdiction but that you also consider your local laws to make sure that every step you take is in line with the law.
iPayTotal in Offshore Company Setup, establishment of branches of foreign companies and opening bank accounts.
What you need to know
An offshore company can be the perfect vehicle for protecting your wealth. If you have a considerable amount of money then an offshore company can help you to protect it from lawsuits and divorce settlements. Normally in a lawsuit, you are liable as an individual, including your properties, assets and in fact anything that belongs to you that could be turned into cash. Some lawyers even specialize in suing high net-worth individuals and as long as you are worth some good money, someone will always be scheming to sue you. An offshore account that belongs to an offshore company, that belongs to you gives you peace of mind because if you do get sued, then your offshore assets will be completely out of the reach of any greedy lawyer.
Benefit From Low Taxes
Setting up an offshore company can help you to benefit from the low taxation laws of certain jurisdictions, also popularly known as tax havens. The level of taxation normally depends on the jurisdiction. Some offer complete tax-exemptions for non resident companies, others offer very low taxes and some others still offer attractive flat-rate taxes or license fees. Another very attractive offer is the 0% capital gains tax where the interest gained from money market transactions is not taxable. This is usually a big attraction for high net-worth individuals who would like to invest their money in safe avenues while avoiding the payment of tax on their profits. An important factor to consider in this situation is the laws of the country of residence of the beneficiary owner of the shell company, in order to ensure that there are no conflicts of the tax laws between the two jurisdictions.
Help with International Expansion
An offshore company setup can in certain situations be very necessary in order for a business to expand internationally. A local company may encounter many legal and bureaucratic issues that will hamper its international expansion as long as it adheres to the rules and regulations of its home country. But with an offshore company setup in a favorable jurisdiction, international growth of the company can be expedited. This situation is especially true for companies that have already gained heavy growth momentum at home and want to expand internationally. It has also become very common among Internet companies with Google and Apple being very good examples.
Lower Costs of Business Operations
Depending on where you are from, the type of business you are into and where you plan on setting up an offshore company, chances are that you most definitely will have lower costs of operations. If you use a full service offshore company service, there will also be extra services available at a small fee like mail-forwarding and telephone answering services in addition to a registered office address, appointment of directors, payment of government fees and adherence to their other regulations. Depending on the nature of your business, these services may be enough for you but when they’re not, they will at least lower your cost of doing business.
An offshore company offers higher levels of anonymity for the company owners. Many offshore jurisdictions do not publish the details of company owners and many do not even require the publication of financial information from the company owners. In many onshore jurisdictions, gaining access to the details of any company is quite easy but it is the opposite with most offshore jurisdictions. This has made it possible for an individual to own an offshore trust which owns part or all of another offshore company making it sometimes very difficult to determine the true owner of an offshore company. This situation is further compounded by the fact that many offshore jurisdictions will only publish information about a company’s owner only in the event of a terrorist investigation, money laundering or other serious criminal investigations. iPayTotal’s Company Formation Team will help you at every step of the way to make your company setup successful.
The Unique Reason
The major reason people setup offshore companies is to take advantage of international laws. Lots of people falsely assume that offshore companies are all about money laundering and tax evasion, but this can’t be any further from the truth. There are fundamental laws that are necessary in every society, and such laws are always somewhat identical worldwide, like marriage, age of adulthood and criminalization of theft and murder. But when it comes to money and business practices, there is really no internationally accepted standard or code of ethics that a government should follow in the management of its economy and the businesses within it.
Many countries in need of foreign capital and investments have fashioned laws that make their local business climate attractive in one way or the other, especially for well to do foreigners. By becoming properly educated about these different laws, you can then decide to legally take advantage of them by setting up an offshore company of your own. Some of the favorite offshore destinations of the world include Anguilla, Seychelles, Belize, The British Virgin Islands, The Cayman Islands, Cyprus, Denmark, Dominica, Gibraltar, Ireland, Hong Kong, The Netherlands, Nevis, New Zealand, Seychelles, Singapore, Panama, The Marshall Islands, The United States of America and The United Kingdom.
The U.S.A. and the UK are interesting jurisdictions for an offshore company setup, for non-resident individuals who are not really interested in tax havens but rather want to make use of the other benefits of having an offshore firm.
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We are a proud member of the Investor Compensation Fund which acts as a guarantor of last resort for our investors. IFC covers the maximum amount of 20.000 EUR for MiFID clients.
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