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; there are several advantages that offshoring brings to the table.
Individual Professionals like Doctors, Writers, Architects, Lawyers, Freelance project consultants, IT professionals are now increasingly making use of offshore companies / offshore presence for holding fees, assets such as intellectual property or real estate investments and more. 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. Most offshore jurisdiction require only minimal book keeping, which makes it convenient for the not so well-versed in Legal, Finances and taxation polices.
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 another very easily.
Confidentiality and Simplified Legal Process
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.
Most offshore jurisdictions are peaceful island locations with enchanting locales, growing economy, access to state of the art infrastructure, great connectivity and political stability which provides the freedom and access to the above. Being a Dual citizen