Offshore business is the ideal solution for asset protection, advanced banking service, increased privacy, economic and tax benefits. But how to choose the most suitable jurisdiction for opening an offshore company for your needs? And how to carry out the process with minimal cost?
If you decide to set up offshore company, the best option is to seek the help of trusted industry experts such as International Wealth.
Among the main advantages of working with experienced offshore business specialists are:
- Quick registration of an offshore company and opening a bank account in compliance with applicable international and local rules
- Privacy and security of each client
- Professional services on corporate and banking issues arising in the process of registering an offshore company
- Assistance with choosing the optimal jurisdiction and setting up a company
- Preparation of the necessary package of documents for opening a company
- Possibility of opening a company remotely
- And much more.
Where is the best place to register an offshore company
There are over a hundred offshore zones and countries with preferential terms for the tax burden for specific niches and international companies. The choice of jurisdiction depends on several factors, including the country of tax residence of the offshore company founder, the scope of business, specific business objectives, etc.
International Wealth experts offer best offshore company formation service and will help you choose the perfect option for your needs.
The specialists of this website highlight such top jurisdictions for registering an offshore business in 2023:
1. Hong Kong – a first-class jurisdiction for offshore business, with the opportunity to receive the total tax exemption.
2. Belize – another completely tax-free jurisdiction. In terms of confidentiality, only the company name and the resident agent’s address will be public. Data on directors and shareholders is closed.
3. The Cook Islands – offer a high level of privacy, do not recognize foreign judgments, and offer zero taxes for international corporations.
4. Nevis – allows the registration of an offshore company with one member, does not accept judgments from foreign structures, and creditors can start proceedings only in Nevis by providing a bond to the court in the amount of 100,000 US dollars. For taxes, everything is similar to other offshore companies – 0% if the conditions for the source of income and field of activity are met.
5. The Cayman Islands – a popular jurisdiction for offshore activities that is not blacklisted by the EU and OECD, and also allows the use of a professional officers service and does not impose reporting requirements.
There are also many more attractive offshore jurisdictions. International Wealth experts will help you understand the nuances of each of them and choose the best option.
The main advantages of an offshore company
Why does offshore business planning remain popular despite sanctions, regulatory pressure, and tightening legislation?
There are many reasons for this, the most significant of which are:
1. Ease of registration – using the services of experienced experts, opening an offshore company is much easier than it might seem at first glance. This applies both to the procedure for forming a legal entity and the flexibility of setting up the legal form and its tax obligations.
2. Flexibility of offshore business settings – international companies are available to solve various business tasks. It would be best if you decided what legal form to choose for an offshore company after consulting with specialists.
3. Tax incentives – most offshore jurisdictions offer favorable taxes or no taxes at all for international structures whose income is generated outside the place of incorporation. There is also an option to use the DTT, which excludes the payment of income taxes in two or more countries.
4. Protection and confidentiality of the beneficial owner – there are several legitimate ways to protect personal data offshore. This may be a closed register of beneficial owners, the use of a professional shareholder service, the establishment of a trust, fund, or holding structure, as well as a competent choice of a bank for savings and setting up an investment portfolio.
5. Protection of assets from lawsuits and debt encumbrances – when registering an offshore company, the assets may remain inviolable, regardless of court decisions. But, the right choice of a country for business incorporation, together with the legal form and management, is a prerequisite for protecting capital from external influence.
What you need to open an offshore company
By contacting International Wealth specialists, you will make the process of registering an offshore company as easy as possible.
The following documents are required to register a foreign company:
● passport copy of the owner and director
● proof of the residence address of the owner and director.
Additional documents may also be required depending on the type of activity and the country of registration.
Other business requirements depending on the jurisdiction and type of company:
● the size of the authorized capital
● minimum and maximum number of shareholders/members
● minimum and maximum number of directors
● accounting, audit, and reporting
● substance in the country of registration
● need for a personal visit.