To choose a right location for an offshore company may be a tough task because you have to consider many factors such as objectives of the company, location of the head quarters and location of clients, vendors and suppliers etc. The popular destinations for offshore company incorporation are Singapore, Hong Kong, and Dubai. Many entrepreneurs make use of the advantages offered by the internal policies of these countries and the recognition as global business destinations. The key benefits of offshore company formation are improved global trading operations, tax savings, enhancing international business standing, protection of assets and protection against political and economic uncertainty. Offshore company services can open up a lot of opportunities eventually, to get ahead in the business arena.
The objective of setting up an offshore company may differ between enterprises. It may be for saving taxes, achieve a better business environment and freedom, asset protection, minimal reporting, and to maintain privacy. Experienced business consultants can assist by performing these activities for the offshore business operations
Set up procedures
The consulting company assisting to set up collects due diligence from the client. The company then provides with a detailed project plan including a suggested corporate structure and the steps for company incorporation registering.
The credentials pertaining to the registration process are handed over the company. The consulting company may also help the client in setting up a physical office and facilities if required.It is very critical to choose a country for company formations that is free of money laundering or tax evasion. Many countries have very attractive international trade polices that are conducive for offshore business operations. Most countries that are safe and ideal for offshore company formation also follow strict client confidentiality, bank details secrecy .You can always utilize the support offered by corporate service providers to gain foothold for your business in the country you have chosen. Some consultancies also provide value added services to the newly set up companies such as financial accounting, marketing services, staff recruiting and obtaining visas for employees and many more.
By setting up an offshore business one can take advantage of a well-implemented legal infrastructure. For instance, entrepreneurs in industries where intellectual property is of high value would prefer to start up a company in a jurisdiction where intellectual property rights are robust and well maintained. It can be more beneficial for a person from developing countries to set up a company in a developed country where the legislation to protect intellectual property is efficient.
Offshore company incorporation can be highly useful as the company can hold and manage a wide range of shares, bonds, commodities and other financial assets from one single location. This set up may be highly useful when the country is facing a financial or political crisis.