If you want to set up new company, it may be wise of you to consider doing that in another country or location. While it would naturally make sense to setup a company locally, the fact is that offshore companies experience numerous benefits that you may be shielding yourself from if you are not careful. All you have to do is explore your options in another jurisdiction to see that it is noticeably better. Listed below are a few of the many benefits you may find by moving your business offshore.
With a local business, you inevitably have to pay local taxes. That, in and of itself, is reason enough to set up new company offshore. Many offshore companies do not have to pay taxes of any kind, and that could potentially save you a ton of money on an annual basis. These companies also have the benefit of not having to report their income or profit levels to the government. The actual value of the company is kept a secret, and for good reason. That protects the confidentiality of the company and makes it more difficult to people to discover the company’s true worth.
There is a level of privacy offshore that you cannot get when you set up new company locally. No one knows who your directors or shareholders are – not even the government. In most cases, you will not have to reveal your name as the beneficial owner, which protects your assets if you keep them in the company name. No one can run a search on your name and find the company or the assets you attach to it. You will not find that level of confidentiality if you work on a local level.
You can still do most or all of your business operations like you would locally, even if you set up new company offshore. Most jurisdictions will allow you to have bank accounts and transactions out of their borders, and they will permit you to have a non-resident director or group of shareholders. The benefits to this are endless, but now you know you should at least consider making your company an offshore one. It does not take long to incorporate offshore, and you should be able to see privacy this way that is unlike anything else. Check out your company options today and you will be able to figure out how much you could get out of offshore transactions.