An Offshore Company is commonly set up in a tax haven like the British Virgin Islands (BVI), Marshall Islands, Seychelles Islands, etc., Where there are key advantages being no corporate or personal income taxes, capital gains taxes, minimal reporting requirements and restrictions.
As with the nature of companies these days, there are many companies are looking to expand their presence and go offshore. Corporate structuring and planning have led to higher levels of complexity than ever before while the need for anonymity remains strong. Companies must keep pace and be constantly on the lookout for new ways to profit. One way is to have an understanding of the characteristics of offshore foreign corporations, and how they may be put to advantageous use.
Should you wish to understand more about Offshore Companies, our experienced consultants will be pleased to guide you. Please feel free to contact us!
Keeping business affairs confidential, Offshore Companies offer complete privacy. If the company shares are held by a Trust, the ownership is legally vested in the trustee, thus gaining the potential for even greater tax planning advantages.
Family and Protective Trusts (possibly as an alternative to a Will) for accumulation of investment income and long-term benefits for beneficiaries on a favorable tax basis (without income, inheritance or capital gains taxes);
Other advantages include:
Protecting assets in combination with a Trust, an offshore company can avoid high levels of income, capital and death taxes that would otherwise be payable if the assets were held directly.
It can further protect assets from: (i) creditors and other interested parties, (ii) from competitors and (iii)adverse claimants and other parties from whom you wish to keep your business interests private;
The sale or probate of properties in different countries can become complex and expensive. If an offshore company collectively holds these, ownership can be transferred by company shares rather than transferring the actual properties owned by the company.
Conduct business without corporate taxes. Tax havens, such as Cayman Islands, allow the formation of International Companies that have no tax or reporting responsibilities. Saving you money from Corporate and Administrative Taxes.
International Companies have the same rights as an individual person and can make investments, buy and sell real estate, conduct any legal business activities, and trade portfolios of stocks and bonds. Further, Offshore Companies set up offshore need not pay social security, withholding tax, or associated expenses of employees working in other foreign countries.
Minimize tax exposure when dealing with international transactions.
An offshore company can franchise or license intellectual property rights in other foreign countries, allowing the profits to accumulate in a tax-free environment.
We uphold the highest confidentiality standards when dealing with our clients. We will maintain anonymity for our clients and will not divulge any information to any third party without prior consent.
Lexico Business Solutions also provides business registration, specialised company management/ corporate secretarial services to free your time from the mundane duties to be focused on achieving their business goals.
Talk to us for a free confidential consultation.