What are Offshore Companies?
Offshore companies are the key elements for successful tax planning, risk planning and wealth planning. Businesses and wealthy families nowadays have to cater their structures and investments internationally. The crisis in Greece shockingly showed the fatal risks of focussing locally. Businesses with only a local registration and families with only local bank accounts ended devastated whilst those with international banking links could prosper, grow and take advantage of the situation.
Globalization will evolve further and online shops, online advisory firms and apps will continuously replace retail locations and traditional businesses. Closing your eyes and hoping it will only affect others is not going to work. Instead you should analyse the chances that come along with these changes and make your business grow. Globalization does not only mean competitors from all over the world are entering your market. Globalization also allows you to claim benefits other countries have to offer.
Global players such as Google, Apple, Starbucks or IKEA show us everyday how important it is to pick the most favourable location for the different sections of a business. Research departments are based in countries with low regulation and favourable laws. Billing is located in countries with low or zero taxation. Support teams are hired in countries with low wages and employee-friendly statutes. All these benefits are available to your business, too. In fact, for small companies it is often much easier and cheaper to create an offshore entity.
Certain jurisdictions like, for example Seychelles, incorporate so called International Business Companies. These companies are either subject to greatly reduced tax rates or are even fully tax exempt. Most of these countries also have reduced accounting and auditing requirements, which results in far less paperwork to be dealt with.
An ideal structure means you have absolutely no administrative tasks to take care of during the year, no reporting at the end of the year and no taxes due at any time. All that applies is a low flat fee to remain in good standing with the registrar.
Is offshoring legal?
The clear answer is yes. In the past, governments tried to frighten business owners and wealthy families off. Nowadays, however, everybody can read about Google, Facebook, Apple and numerous other companies who are using offshore vehicles in full compliance to the law. Instead of fighting with bureaucracy they move their entire research center to a country with low regulation. They don’t simply accept a given tax rate but move their billing to a country with low taxation. Adjusting your business internationally is not only legal, it is an important aspect if you want to remain competitive.
Offshore banking for small businesses
For many years offshore banking has been reserved for the super rich. Yet times have changed and more and more banks focus on small businesses as a new and important clientele. Notwithstanding, not every bank is ideal for every business and one has to carefully evaluate. Our team of banking experts has access to more than 30 banks out of 21 countries and will find the right partner for you.
How to find the right structure?
The tricky thing is that offshore structures all look very similar. It’s little details that make the difference between a worthless bunch of papers and a successful structure helping your business grow and prosper. The key to success is the initial consultation. Every business is different and everybody has different goals he wishes to achieve. Our team of experts is here to listen. We will analyse the pros and cons and evaluate which structure is best for you. This can all be done via email, free of charge and fully confidential.
How much will it cost?
All initial consultation is free of charge. For the company formation services you can review our schedule of fees at this link. Once we found the perfect offshore vehicle for you we will detail all applicable fees to set it up and maintain it over the years. We are looking forward to establish a fruitful partnership for many years and will never surprise you with hidden fees. All our pricing is transparent and you will know the total investment before placing an order.
What do I have to do?
Once we determined which structure is best for you and you placed the order you can actually lean back and relax. We will handle the entire company formation for you. Your presence is not required at any time which means you never have to travel or worry about anything.
How long does it take?
Depending on the selected country and the complexity of the chosen structure you are looking forward to processing times that range from two days to a few weeks. The important thing to note is that we take care of all the individual steps and coordinate the work of all involved parties.
How to get started?
You wonder whether there are benefits you can claim for your business? Get in touch with us today and find out!