Offshore Company Formation: Save Taxes Effectively

Online, March 20, 2014 (Newswire.com) - • An offshore company is helpful to legally minimize domestic and international tax. A properly structured non-resident offshore company is legally tax exempt on global income;

• It is common to use an offshore company to act as a holding company for a group of subsidiary IBCs;

• Setting up an offshore company gives a global imagine to the company which is helpful in having clients from other countries. International entrepreneurs having offshore business structures can easily employ international employees and consultants;

• Offshore business incorporation can be a strategy used by individuals who live in politically unstable countries to hold family wealth to avoid expropriation or exchange control restrictions in the country in which they live;

• Regulatory and administrative burden can be reduced by incorporating an offshore company. For example, investors use the business setup to participate in risky investments, such as derivatives trading;

• Capital gains and inheritance tax can be legitimately minimized when international assets are owned by an offshore LLC. Even, the shareholding for these firms can be transferred or sold to third parties without triggering local tax liabilities;

• Entrepreneurs also pursue incorporation in offshore jurisdictions to open international multi-currency corporate banking accounts. Frequently, our Clients' suppliers and customers request local bank accounts to settle payments, eliminating forex risk, minimizing offshore banking charges.An IBC can own global assets, trademarks, and patents, and receive royalties. This entity minimizes global tax while optimizing confidentiality;

• Using a legitimate offshore tax planning strategy, a person working abroad- is able to limit his tax burden by receiving, into the country in which he is working, a fixed level of remuneration and accumulate the balance in an offshore entity;

• Yachts or ships may also be owned by a firm registered in an offshore jurisdiction, which can prove to be a cheaper and more tax-efficient method of ownership;

• Offshore entities are frequently used to set up joint venture companies because i) both parties need a neutral jurisdiction and/or ii) because both parties need a jurisdiction with strong contract law (e.g., Singapore).

Contact:
Aidan Healy
Business Owner
Healy Consultants
aidanhealy@healyconsultants.com