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An offshore
company is a corporation incorporated in a foreign country where none of the
founders is a resident. Offshore business processes are facilitated in a number
of locations around the world and, when investors open an International
Business Company, a common business form for this purpose, they will not be
allowed to trade locally in that jurisdiction.
This short guide on opening an offshore company aims to offer a number
of clarifications on the process of opening a legal entity in another location.
1. Choose the
jurisdiction
Offshore
companies offer a number of advantages, from easy incorporation to low taxation
regimes and the ease of doing business internationally. Of course, these
characteristics will vary according to the chosen jurisdiction. Therefore,
selecting where the company will be based is very important.
Investors who start a business in Singapore will enjoy a number of advantages, even though the city-state is not perceived as an offshore jurisdiction in the traditional sense of the word. Low taxes and an easy set up process are available here, with none of the disadvantages of the jurisdiction being included on any blacklist.
Investors who establish a company in the Isle of Man will also benefit from tax advantages (with a 0% tax rate for selected types of activities) and a fast incorporation process. Moreover, this is the preferred jurisdiction for those who wish to enjoy the zero tax advantages in a location that is close to Europe.
Popular
offshore jurisdictions also include the British Virgin Islands, where the
International Business Company can be incorporated, the Cayman Islands,
Seychelles or Labuan, among others.
2. Begin the
incorporation of the company
Company
formation in many of the offshore jurisdictions is simple an… Read More
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