Offshore Company: A Versatile Business Instrument

An offshore company has the potential to generate significant returns when managed proficiently. Nevertheless, individuals frequently question the legitimacy of engaging in offshore activities due to associations with terms like “tax evasion,” “illegal schemes,” and similar matters. Is there any validity to these claims?

Interest in offshore companies is as high as ever: people actively google to find the terms of offshore company incorporation, seeking a better place to do their business. An offshore company is a truly versatile business instrument that helps you achieve multiple goals. The conditions differ from jurisdiction to jurisdiction, however, and we strongly recommend finding an offshore consultant who will help you make an informed choice (follow the link below to get one).

Offshore company: opportunities

Offshore company formation can help you achieve different goals, and we would like to talk about the most popular ones just to give you an idea:

  • Set up a company and invest in real estate or other property abroad to protect your assets or develop your business
  • Engage in import and export operations all over the world
  • Easily cooperate with different international companies
  • Set up a trust to manage your inheritance assets
  • Receive better banking services after opening an account for your offshore company
  • Your company can be opened and managed remotely
  • You can establish a holding company to manage different subordinated units
  • Lower tax rates (maybe the primary reason why people opt for offshores)
  • Finally, no structure will ensure better confidentiality than an offshore company

As you see, an offshore company is an instrument that can yield a lot if operated skillfully. However, people often ask whether going offshore is legitimate as they’ve heard the term “offshore” in combination with “scandal”, “tax evasion”, “illegal schemes”, and other things like that. Is there any truth behind that? Let’s see.

Offshore companies: a legitimate instrument

Offshore companies are perfectly legitimate provided you handle them correctly! Let’s see in more detail what it means:

  • Each offshore jurisdiction has its laws, and you need to study them before you go offshore (or get advice from our consultant). If you form your company in strict accordance with the local laws, there will be no problems whatsoever: you will have a perfectly lawful legal entity that can operate for your benefit.
  • Your country may have certain laws and provisions regarding property abroad: for instance, some countries require you to declare the fact of possessing an offshore company. You may also be liable for any payments in connection with this, and you’d better find it out before it comes to you as a surprise.
  • Needless to say, your activities should not be connected with any dubious schemes like aggressive tax optimization, or you may surely have trouble with the law.

Therefore, if you comply with the laws of the offshore destination, the laws in your home country, and keep away from any illegal activities, your offshore company will look absolutely clean in the eyes of the law.

What about the media headlines then? Well, they are either about large cases of tax evasion (connected with some well-known names of businessmen) or refer to some moral aspects: for instance, the scandal in Panama revealed that the late Queen of England had some assets in the offshores. It may be perfectly legal, but is it moral for the head of state to keep the money out of the country?

These considerations have little to do with real business. Thus, if you want a truly convenient business instrument, contact us for hassle-free offshore company formation!

Offshore banking

Is offshore banking good? Well, there is no straightforward answer to that question as there are different banks and different jurisdictions. We keep our finger on the pulse and collect feedback from our customers before opening an offshore account for private or corporate purposes. 

There are two options here: first of all, you can set up your account in the same jurisdiction where you establish your company. If you incorporate a company in the Marshall Islands, why not open an account in the Marshall Islands? However, this is not always wise.

The banking in a particular country may be going through hard times (this is usually transitory), or you may set diversification as one of your priorities (and we support it!). In this case, we offer different combos that worked well for our customers: an offshore company in Hong Kong with a bank account in Singapore, for instance. The choice depends on the nature of your business, and we will have to analyze it before giving any recommendations.

In short – offshore banking is perfectly good – if you know which bank to choose!

Offshore account: benefits

Why not open a bank account in your home country? Well, let’s look at the advantages offered by offshore bank accounts and compare them to those provided by your home banks. In most cases, offshores look better as you get the following:

  • Really good and flexible online banking that you will surely appreciate
  • Minimal documents required: you will not submit much to open an account, and nor will you have to do a lot of reporting afterward.
  • High confidentiality. You may be sure that your data will not be available to any authorities unless law enforcement bodies put in a special request. Still, you may have to declare possession of an offshore account in your country of residence.
  • Asset diversification. It is the key as you need to have Plan B if your account at home is frozen or blocked. Things do happen, and you have to be prepared for them rather than think that it will never occur to you.
  • Asset protection. Offshore jurisdictions do not recognize the decisions made by foreign courts, so your creditors and relatives will have a hard time getting to your assets.
  • Multicurrency investments. The investment opportunities offered by offshore banks are truly diverse, and you can engage in them at a profit.

As you see, there are a lot of reasons to have an offshore account in our times, and our experienced consultants will hand-pick the best banks for you.

Venture into the offshore world with our help and benefit from offshore business and offshore banking as much as you can! And if you still have any doubts or questions, do not hesitate to contact us by following the above link.