Offshore Companies are businesses that have been registered, established or incorporated outside of the country of residence. Incorporating offshore is a straight-forward process in all of the popular offshore financial centres and tax havens and can provide a wide range of benefits to the company and company principal(s). Offshore company registration is undertaken by individuals primarily for the following reasons:
- Asset Protection
- Reduced Tax Liability
- Protection against Law Suits
- Flexible Business Laws
- Ease of Operation
View our information on offshore company benefits for more details of the reasons for overseas incorporation. Now, please keep in mind that many countries, such as the UK, their resident on worldwide income. The United States taxes its citizens on worldwide income regardless of residence. So be sure the check with a licensed tax advisor.
Offshore Company Strategies
There are several levels of offshore company strategy which might be considered. Each has their own associated costs of offshore company incorporation and benefits and need to be weighed up carefully, according to your needs and requirements. The offshore company incorporation section deals with the entire offshore plan, including examples of how they are structured and the reasons for this type of overseas entity.
Top Recommended Jurisdictions
Although there are a wide variety of offshore financial centres and tax havens, we currently recommend the following locations for offshore company formation from the UK.
- Belize – Companies, IBC (International Business Company) and Banking. Find out what Belize offers through offshore incorporation.
- Offshore entities located in The Caribbean such as the following:
- Nevis – Stability, Privacy, Confidentiality and Convenience. Research why the Island of Nevis is one of the most popular offshore financial centres today. The strongest asset protection lies in the Nevis LLC plus Nevis trust.
- Bahamas – Tax Free, Privacy and Low Fees. Learn about the options available to you in the Bahamas tax haven.
- British Virgin Islands – Maximum Security, Asset Protection, Confidentiality and Privacy. Discover how offshore company incorporation and IBC’s in the BVI help protect your wealth.
Offshore jurisdictions also have very different legal systems, which can be used to your financial advantage. For example, if your offshore company is involved in legal action, it is important to know that suing an offshore company is much more difficult than suing a UK / EU registered company. This, in turn, often puts of potential litigants. In the formation of an overseas corporation, you benefit greatly by taking advantage of an offshore company jurisdiction’s legal statutes. The money saved by keeping your finances completely discreet and private in turn prevents legal action hence safeguarding your assets from litigation are just a couple of the many reasons for registering offshore.
Types of Offshore Companies
Offshore Company types offer far greater financial confidentiality and privacy than resident entities, such as Limited Companies or Limited Liability Companies or an international business companies (IBC). There are many offshore jurisdictions that have incredibly favourable laws that the UK and the EU simply cannot offer. These jurisdictions actively compete for international clientele by offering complete confidentiality and protection: privacy of ownership; privacy granted to officers and directors; non-recognition of foreign court judgements.
In today’s increasingly litigious society, the chance of legal action for British business-owners is rapidly becoming a fact of everyday life. You can learn more about how an offshore company formation can help with your asset protection requirements by reading through the ensuing articles and information pages, read about various offshore company operating formalities or by contacting one of our advisors at The UK Offshore Company. We register and incorporate thousands of international business entities every year, assisting thousands of individuals with their asset protection and privacy needs and offering support and guidance through all of the offshore company formalities.