Starting a Business in Offshore
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Total Posts: 1 Last post by Jslease
Total Posts: 1 Last post by Jslease
What is an Offshore Company?
The term “offshore” was termed in the 1980’s and is used to describe a jurisdiction or country that provides corporate and commercial services to non- resident companies.
They are usually small, with financial centres hugely disproportionate to the population, and the attraction for companies and investors is the climate of low tax coupled, in many cases with privacy.
Today the most popular offshore jurisdictions include:
- British Virgin Islands – the largest number of registrations
- Bermuda - probably best known for aircraft registration.
- Cayman Islands - which has the most assets under management in offshore funds,
- Jersey - popular with the banking, fund management and professional services sectors.
- The Bahamas has a considerable number of registered vessels.
- Panama is a famous international maritime centre.
The main reasons companies choose offshore company formation include:
Many corporations include lots of individual and separate companies. It might be sensible for this type of organisation to register offshore simply as an asset holding vehicle.
Companies doing business in politically or financially unstable countries may choose to incorporate offshore to avoid risk, and protect their assets. This also applies to countries where it is not easy to get the money out, or where exchange rates might make business (and profitability) difficult to predict.
Companies involved in complicated financial dealings will also opt to register offshore for a variety of reasons, not least to keep the financial regulations simple.
Offshore jurisdictions are frequently used to set up joint venture companies where two or more organistions from different countries (with different legislations) need to set up a separate entity.
Successful companies who want to become a public company will choose the offshore company formation option to enable them to be listed on the relevant stock exchange.
Organisations that can assist with Starting a Business
TBA & Associates – Tax Business Advisors Ltd is a leading provider of Tailor-made solutions for wealth preservation and Tax efficient structures To facilitate cross-border transactions
Worldbox is a long-established and trusted provider of business, due diligence and credit information.
Whether you are entering a new market and have yet to establish a business entity, or you have been in a country market for some time; whether you have one worker or thousands of employees, SafeGuard World International can help. We can support you during every stage of your journey with global payroll, contingent labor, global recruitment and a variety of multinational HR consulting and professional services.
We do payroll there. We can do it anywhere. Many companies with global employees find that payroll can be a stressful part of doing business overseas. Finding a reliable payroll company, faxing and emailing multiple payroll spreadsheets each month, and treasury management are just some of the obstacles
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