Don’t believe the negative hype- there are a number of legitimate reasons why you might want to incorporate an offshore company in Curacao, BVI, or various other offshore jurisdictions.
These type of arrangements provide individuals and businesses perfectly legal ways of internationalising and diversifying their assets across other jurisdictions. Offering confidentiality, security, fiscal benefits, and more- offshore companies can be a huge benefit for any number of reasons. Here are just five for your to consider!
First and foremost, one of the key benefits of opting to incorporate an offshore company is the fiscal benefits that it brings. Most of these jurisdictions offer attractive tax schemes with low or zero rates of corporate tax, or full imputation systems that see tax refunded in the form of dividends to shareholders. In addition to this, most have a number of double taxation treaties in place with other jurisdictions, meaning tax is not payable in any other jurisdiction as long as an agreement is in place.
When it comes to holding assets, trusts, items of high value, or other business interests, clients sometimes want extra layers of confidentiality. A number of offshore jurisdictions provide this in the form of third party nominee services, or by institutes such as banks, not reporting on assets held by international clients. In addition to this, bank accounts and cards can be opened in the name of the company and offshore payments are received by it, not you. This means your privacy is secured through a combination of stringent local company and privacy laws.
Quick registration procedures
Most offshore company formation structures can be set-up and operational in a week or two, others offer shelf companies that can be purchased and active immediately. In addition to this, incorporation and management costs tend to be lower and the need to submit financial reports is less. If you use an experienced corporate services provider such as Fast Offshore, the process can be even quicker as with over 22 years of experience, we know the system of most jurisdictions, inside out.
Being able to internationalise your assets means you have a Plan B when it comes to keeping them secure. The diversification of assets across different bank accounts, jurisdictions and even companies gives a higher level of protection and security, should things go awry in your home country. For example, if your assets are held in an offshore company, any civil judgements against you in other countries are not able to touch these company-owned assets. This can protect real estate, inheritance, stocks and bonds, and cash from creditors or other nefarious third parties.
When incorporating in an offshore jurisdiction, associated costs are generally lower. Firstly, capital requirements tend to be less or do not need to be paid up in full. Some do not require any capital to be paid at all, significantly lowering costs. Additionally, incorporation fees tend to be lower, as do ongoing maintenance fees including accounting services.
Fast Offshore have been in the business for over two decades and as the name suggests, we are able to help our clients set up offshore structures quickly and efficiently. Whatever your reasons for doing so and wherever you are looking to set up, we can guide you through the process, as well as taking some of the strain off you. To find out more about the jurisdictions we recommend as well as ancillary services we can offer, contact us today