Introduction to Offshore Incorporation
'In this world nothing is certain but death and taxes.' Benjamin Franklin (1706-1790)
It's true but as regards to the second part: taxes may vary. Mind Your P's and Q's and you will be playing with a full deck.
Some time ago, only superwealthy knew about all the advantages of incorporating offshore. By this you can plan your business tax burden, protect yourself in case of personal problems or national catastrophe. Going offshore is the best way to protect your personal and financial privacy, and your future well-being. Please note also that offshore banking industry and asset protection strategies are completely under the law.
If you need to open bank account with debit/credit card, wish to involve in the global investment project or to start your international business, going offshore is the best decision for you.
It has become almost impossible for today's businesses to remain in complete privacy, free from excessive taxation and not vulnerable to lawsuits. Placing your assets offshore, you can protect yourself from illegitimate creditors.
By incorporating offshore you can become judgment-proof, as the world-wide courts are not recognized in the offshore jurisdictions, and tax-free, as there are no taxes assessed on in offshore trusts or International Business Companies formed in offshore jurisdictions.
If you wish you can be completely anonymous while maintaining complete control over your offshore Trust or International Business Company. Your offshore company may own an overseas property or just hold a bank account maintaining your anonymity.
No annual reporting is needed for an Offshore Trust or International Business Company; usually there is no minimum capital required in offshore jurisdictions.
To summarize the reasons why you should consider going offshore, these are the main benefits of it:
- To secure against future claims such as judgment, divorce proceedings, bankruptcy, creditors and litigation.
Reducing Tax Liability
- a foreign jurisdiction can offer unparalleled opportunities for reduction of your tax liabilities.
- From competitors, claimants, ex-spouses, and other parties from whom you wish to keep your business interests private; and
- Private Foundations, and Offshore Protective Trusts for accumulation of investment income and long-term benefits for beneficiaries on a favorable tax basis (without inheritance, income, or capital gains taxes);
- Shifting business to an Offshore Haven removes restrictions, regulations and taxation. What can you do with 50% more time and money?