A few of the benefits of an offshore company include low tax, location of your business, confidentiality, minimal accounting, auditing, property ownership, asset and lawsuit protection. For more information, contact one of our Offshore Specialists.
Low Tax
One of the main benefits, and possibly the most talked about one, is tax!
All business owners are always looking for ways to reduce their taxes as this area of a business can become the biggest burden. Generally, offshore companies are tax exempt or pay little tax in the Country of incorporation. For example, many beneficial owners use offshore companies as holding companies to receive dividends.
Companies can also benefit from importing or exporting within an offshore location. An example of this includes receiving orders directly from the customer and the purchased goods being sent from the manufacturer. This would enable the profit from the trade to be either tax-free or low tax. When choosing the right location, be aware of the tax and choose a location with good shipping facilities.
Many of these countries appeal to shareholders/directors due to their low administration costs – Nolton Consultants work hard to keep all costs reasonable and extremely competitive. This allows our clients to concentrate on the more important aspects of their business.
Location of your company/business
If you are a small company and your trading premises are not the most ideal location, incorporating offshore could be your answer. Having an overseas / Offshore Company gives the impression that your business is located overseas, having a registered office that is worth shouting about.
If you are not sure where you should form your Offshore Company, you are able to seek business/tax advice, and they should be able to assist you with making the best decision. When you are aware of the location, we can assist you with forming your Offshore Company.
Company Confidentiality
Some Offshore jurisdictions do not disclose the Company Directors and Shareholders on public records, therefore keeping the identity of the officers confidential. Some examples of these jurisdictions are Seychelles and Belize. Clients have a number of reasons for keeping the directors’ and shareholders’ identities confidential. A client has recently requested to keep their details confidential from their competitors so that the competitor couldn’t see that they had set up an Offshore Company. This has helped them a great deal with moving their business forward.
Another way to keep the identity of your offshore company confidential would be to use nominee Directors, shareholders, and Secretaries. This will then show the nominees’ details and not your own. Contact us to find out more.
Keeping Accountancy and paperwork to a minimum
Ongoing yearly accounting and auditing is kept to a minimum as some jurisdictions do not require an audited financial report/accounts. Keeping your time precious and enabling you to focus on your company.
Offshore Companies owning property
Advantages of offshore property ownership include avoidance of many taxes, including inheritance tax, income tax, capital gains tax, and much more. Nolton Consultants recommend that legal advice is always undertaken before committing to any property ownership.
Here are some of the other benefits:
- Seeking asset protection – Due to the laws in offshore locations, offshore companies are often used to holding assets due to the level of protection they hold.
- Lawsuit protection – Due to the level of protection this offers, offshore company formations become more attractive due to the level of security and privacy.
How can we help?
Please feel free to speak to one of our CFS offshore specialists, who will be happy to answer any questions you may have. We will do our utmost to help and assist you in any way possible.
