The complex world of commerce has gone global, thanks to the digital revolution and a small businessowner can think about expansion with some confidence. Indeed, private investors team up and set up companies offshore, which brings with it many benefits, not least being low taxation; simply put, if done correctly, you can avoid major taxation and if you are considering setting up an offshore company, please read on.
Diverse global locations
There are many places in the world where you can set up a company, such as:
- Europe – Switzerland, Malta, Cyprus, United Kingdom, Malta and Madeira.
- Asia Pacific – Singapore, Samoa, Hong Kong and Labuan.
- Americas – USA, Anguilla, Belize, Bahamas, Cayman Islands and British Virgin Islands.
- Indian Ocean – Seychelles and Mauritius.
Of course, each nation has its own set of laws, rules and regulations when it comes to foreign business registration and by consulting with a leading international law firm that offers offshore company formation services, you can receive the best advice.
Citizenship
One of the top benefits of offshore company registration is the ability to become a citizen of the nation and that can have huge tax implications that are beneficial. The best way to choose a destination is to engage the services of an international law firm that specialises in setting up offshore companies, they can outline the benefits of each region and when you are ready, they can oversee the process on your behalf.
Tax benefits
One way for a small nation to encourage foreign investment is to eliminate personal income tax, which is a very effective way to bring capital into their economy. Rather than spending a lot of time searching each nation, talk to an international law firm and they can make some recommendations, when you are ready to register, they can oversee the application and most importantly, ensure full compliance with local laws. Click here for information about free learning resources.
Types of offshore business registration
The following are types of businesses you can create.
- International Business Company (IBC) – This only requires a single shareholder and director.
- Limited Liability Company (LLC) – This trading entity offers limited liability, with or without local partners and subject to local laws.
- International trade & tax planning – Ideal for a group of private investors or professional people, this type of business is unrestricted in activities and foreign investors can reap many benefits such as citizenship.
After an initial consultation with a leading international business lawyer, you are in a position to make an informed decision and with the legal expert handling your application, you can prepare, safe in the knowledge that your application will be accepted. Here is some UK government information about setting up a foreign company, which should prove to be invaluable.
Free initial consultation
Most major law firms are happy to offer you a free 30-minute Zoom call to discuss your needs and they are well-versed in local laws and can point out the long and short-term benefits of many locations around the world.
Naveen