Incorporate an Offshore Company

Incorporate an offshore company in a tax haven for the best advantages. Offshore company formation is normally done in tax havens all over. A tax haven is a country which has little or no taxes in place. Some of the world’s tax havens which have regulations in place for incorporating offshore companies are Belize, Dominica, St Kitts and Nevis, Antigua, Gibraltar, Singapore, Seychelles, Anguilla, British Virgin Islands and Panama.

To incorporate an offshore company means decreasing tax liabilities. Offshore companies are incorporated in tax haven where they enjoy tax free status or pay taxes at very low rate. This beats incorporating a normal onshore company since this type of company pay taxes at sometimes very high rates. An offshore company has the responsibility of paying an incorporation fee at set up an annual license fee at the end of each business year. Offshore tax havens exempt offshore companies from withholding tax, capital gains tax, local income tax, corporation tax, estate tax and inheritance tax among others. Some offshore jurisdictions offer tax exemptions for twenty (20) years and more. These tax exemptions are guaranteed by legislation which regulates the incorporation of offshore companies.

Offshore company formation provides asset protection. An offshore company can be incorporated to hold assets such as property, capital and other types of wealth. The laws of offshore companies are structured in such a way which makes it very difficult for third parties to get their hands on assets placed in offshore companies. Offshore legislation in most tax havens does not recognize court rulings in foreign cases making it difficult for persons bringing civil suits and other types of court cases against offshore companies to gain any of a company’s assets. Offshore laws for offshore companies are so strict that there are stiff penalties for anyone caught passing on information in offshore corporation to third parties.

Like an onshore company an offshore company can be put to many uses. Offshore incorporation means a business company which can be used to trade around the world. Offshore companies can also be used as trading companies. An offshore company can be incorporated simply for holding assets. An offshore company can carry out its business anywhere in the world so long as it works and follows the company law of the country or countries where business is being carried out and follow the company laws of the jurisdiction of incorporation.

Incorporating an offshore company is done without difficulties in the tax havens. A registered agent can be employed to file the paper work saving the potential offshore company owner a trip to the tax haven. Some offshore jurisdiction makes hiring a registered agent mandatory. The registered agent files the paper work along with the application fee to the registering authority. If offshore incorporation is approved a Certificate of Incorporation is granted to the owners of the offshore company. The Registered agent is then responsible for getting the company papers to the offshore company owner.

The incorporation process for offshore companies can be completed in less than twenty four (24) hours. The tax havens make it so easy for offshore company formation that nominee shareholders and nominee directors can be appointed for offshore companies. What this also does is provide privacy and security for the beneficial owners of offshore company. This prevents their name from appearing on the company’s registry which is sometimes made public in some offshore jurisdiction.

Incorporate an offshore company come with its benefits which include tax saving and asset protection. Offshore company have a simple structure which can be just one shareholder and one director who can be the same person there for making management of an offshore company very easy.