Offshore Company, a general introduction: The companies in tax havens that are not liable to corporate tax are known as offshore companies. Offshore companies are not allowed to do any business activity inside the country of incorporation so they can be tax exempted. They can operate in the rest of the world without any restriction from the authorities in the country of incorporation.
Tax Exemption: Offshore companies do not operate inside the country of incorporation, so they are exempt from corporate tax. This makes the offshore setup very lucrative and advantageous for entrepreneurs who have an international business.
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| OFFSHORE - COMPANY - INCORPORATION |
How to Incorporate an Offshore Company: The company can be incorporated by a registered agent who provides corporate services. The registered agents or service providers are also responsible for the annual renewal and maintenance of the company.
Advantages of Offshore Company: Some of the primary advantages of the offshore setup are tax exemption, privacy, anonymity and easy to operate structure because of minimal or no filing requirements.
Features of Offshore Company:
The offshore company has a faster incorporation process; the documentary requirements are minimal and it is very easy for the company to operate because of no or favorable regulations.
The company can opt for a nominee director and shareholder for added privacy. It has a registered address in the country of incorporation and can have an operational address outside the country of incorporation.
Conclusion: Offshore setup is a favorable choice of company structure if the company is not doing business in the country of incorporation because of the advantages mentioned herein this article.
We provide one stop solution regarding offshore company formation in 30+ jurisdictions and also assist with corporate bank account opening for the company as well as personal bank account opening for the members of the company.
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