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Why Set Up an Offshore Company?

Updated on Tuesday 07th August 2018

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An offshore company is a corporation, limited liability company or otherwise, incorporated in a foreign or offshore location that offers beneficial conditions for doing business, such as low or no taxes, investor protection and an easy incorporation process.

Tax havens, or offshore jurisdictions are countries were corporate taxation is not applicable and where several other benefits await investors. Among the classic jurisdictions, we can mention Bermuda, the Cayman Islands, Seychelles, the British Virgin Islands, as well as several other jurisdictions or financial centers which, despite the fact that they are not traditional tax havens, do offer beneficial conditions for doing business.

What are the main reasons to set up an offshore company? Tax minimization and investor protection are two important reasons, however, these types of business structures are also subject to lighter administration requirements, another important reason for foreign investors to do business in these locations.

 

The main advantages of offshore companies


The table below summarizes five of the most important characteristics of offshore jurisdictions:
 
Advantage Details
No taxes In most tax havens, the corporate income tax is zero percent for International Business Companies.
Confidentiality Investor confidentiality is of importance in offshore jurisdictions, this is why the company registries in these locations will not disclose the details related to the company owners.
Asset protection The corporate structures incorporated in offshore centers are commonly used as asset protection vehicles.
Low capital requirements Low or even no capital requirements apply in many of the popular offshore jurisdictions.
Minimal administration The general management requirements for the offshore company setup and the subsequent administrative and reporting requirements are often very low.

Offshore company formation is a straightforward process; however, it may be different according to the chosen jurisdiction or tax haven.

 

General conditions for offshore incorporation


Most offshore financial centers have a quick and simple procedure for offshore incorporation. In most situations, the company founder’s identity is protected because there is no mandatory need to disclose the details when registering the company. However, the beneficial owners will be asked to provide a set of personal information.

Another key requirement will be to open an offshore bank account. One of our agents can walk you through all of the company registration steps. We specialize in the incorporation procedure in a number of offshore centers located throughout the world.

Contact our offshore company formation agents once you’ve chosen you preferred offshore jurisdiction and we can help you start a business.

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