Offshore registration is a great way to reduce your company’s tax burden and avoid certain legal obligations. If you’re thinking about setting up an offshore company, it may be time for you to learn more about the benefits of offshore registration. In this blog post, we’ll look at some reasons why companies should consider registering as an offshore entity.
First of all, what is an offshore company?
An offshore company is a company registered abroad in a country where the owner does not reside
Offshore registration means lower taxes!
One of the main reasons for companies to incorporate an offshore company is to reduce their tax burden, especially on income generated outside their home country. The most common reason for doing this is that there is no tax on foreign income of a company that is not based in its home country.
Foreign registration means fewer obligations!
In many countries, companies must comply with certain legal obligations with respect to annual meetings and reports required by law. In some cases, these obligations can be onerous or costly for non-resident entities such as offshore companies. The good news is that you won’t have to deal with these types of obligations if your company is registered offshore.
Offshore registration means greater privacy!
There are a number of reasons why a business owner may wish to keep his or her name and information out of public records, such as the official registry where all business data is usually kept. The privacy of the business activity is one of the main reasons to register an offshore company.
Create a new offshore entity in just 24 hours!
If you’re thinking of setting up an offshore company, it may be time to consider how quickly and easily our service can help you do so. We offer two types of registration: standard and express. Standard registration takes 24 hours, while express registration takes only one hour.
Create an offshore company with minimal capital!
Since an offshore company does not carry out any economic activity in the country where it is domiciled, there is no minimum investment requirement to ensure that you have sufficient working capital for your business.
Is it illegal ?
It is not necessarily forbidden to have an offshore company or a foreign account. The important thing is to know what is the real activity behind these accounts, what is the origin of the financial flows and the commercial activities of the company.
If you want to place all or part of your assets abroad, on a simple bank account, the law allows you to do so. But in some countries you will have to declare it.
Even if you have a fully legal offshore structure, the onus is on you to prove its legitimacy.
If you want to know more about the creation of an offshore company in the United Kingdom, I invite you to visit ICD Fiduciaries to learn more from a specialist in the field.
We hope this article has helped you learn more about this not so opaque subject.that will tell you more about it by specialists in the field.