Offshore-Protection.com Reviews

Offshore Protection Reviews Why You Need To Move Your Business Overseas

If you are looking to internationalize your business and protect your assets against risk an offshore company business plan will create a strategy to ensure your future by taking advantage of local laws in overseas jurisdictions.

An offshore business plan isn’t only for large corporations. Pensioners, online businesses, small companies, entrepreneurs, digital nomads as well as any individual with a growing interest in global lifestyle can also take advantage of internationalizing.

What that means is instead of keeping your business local, you create an entity in a country that give you some added benefits that are found in other countries. This is all done by incorporating a structure that is separate from you in a country other than where you reside.

An offshore business company involves using a corporate entity that allows you to take advantage of local tax laws in overseas countries which can help to reduce your taxes, diversify your business, simplify your responsibilities and ensure your financial survival. Globalizing your company gives you several distinct advantages.

Offshore Protection | +507 838 6842

Why you need an offshore business company?

1. Reduction of taxed income

2. Reliable banking systems

3. Currency Diversification

4. Asset Protection

5. Flexibility

1. Reduction of taxed income

Having a company overseas means that you will be generating income outside of the residence of where you live. If you live in a country that has territorial taxation laws and does not tax worldwide income, then any income generated by the company is considered non-taxable.

Incorporating a company in a country overseas the structure exists as a non-resident in terms of its tax obligations. Income that is made by the company can be held in an corporate account and because the structure does not conduct any financial or business transactions locally within the country it is obligated to pay any taxes.

Many countries around the world offer tax incentives to foreign companies in order to attract businesses. These types of benefits are widely known in places like Switzerland or the Caribbean, however, this type of business structure is even found in places like the United Kingdom and the United States.

2. Reliable banking systems

Using a banking system overseas is likely to be more secure, provide better interest rates, and generate more investment possibilities than an account in your local domestic bank. Overseas banking jurisdictions usually have higher liquidity ratios, have more stable banking policies and have a higher capital reserve ratio than any of your standard US or UK banks.

Opening an offshore bank account is likely the first most important aspect of any financial diversification plan. By having a corporate account in a separate jurisdiction other than where you live provides a layer of security and protection that otherwise would not be possible if you banked locally.

Banking overseas spreads the risk that is inherent in any banking institution. By having multiple accounts holding multiple currencies in different countries ensures you are protected from any fluctuation in the markets, currency or economy.

3. Currency Diversification

Holding multiple currencies helps by spreading your assets across different denominations. Spreading your assets across several currencies reduces the risk of being influenced by any single currency fluctuation or economic market.

If you are bound to any single currency or economy than any fluctuation puts your assets in jeopardy. In order to ensure your security its best to be freed from any single institutional and monetary authority.

4. Asset Protection

Diversifying your assets by having your accounts in separate countries other than where you live provides extra layers of asset protection and makes it harder for your accounts to be frozen in case of a legal suit.

Having a second set of laws that are found in a foreign jurisdiction protects you in case of creditors try to break into your account. Local court orders that seek to break open an account in a foreign country will find in almost impossible because the court can not infringe upon the legal sovereignty and laws of another country.

Any probe that is made must be filed within the country where the account or structure is located. This makes it much for difficult for frivolous lawsuits and creditors to go after your assets.

5. Flexibility

Having a company that is located overseas gives you an added flexibility as most low tax countries have minimal reporting and financial auditing requirements. Many countries in an attempt to attract capital have reduced the amount of red tape to make it easier for small businesses to setup within the country.

Reducing onerous financial obligations creates a business environment that is more business-friendly allowing for businesses a liberalized environment to conduct its operations.

Offshore Jurisdiction | +507 838 6842

3 Steps to Internationalize Your Strucutre

Selecting your company structure

The nature of your business or venture will likely determine the most appropriate structure that will suit your situation. Depending on your citizenship there will be tax and reporting obligations that will likely determine the tax reduction possibilities and which country would be most preferable in incorporating.

There are a wide range of business structures that can be used the most widely used are a Corporation, LLC or Trust/Foundation.

Registering your company

Registration is the process of drawing up the Articles of Agreements and bylaws which will state the obligations of shareholders and directors. Once all the documents and fees have been gathered they are sent to the company registry where it can take upwards of a few days to a few weeks for the documents to be verified

Depending upon the jurisdiction background checks such as Know your Customer KYC, Anti Money Laundering AML verification are done.

Company Incorporation

Confirmation of your incorporation is received by mail and comes a few days/weeks after the due diligence and incorporation documents are accepted. Some jurisdictions require more proof which many include: proof of finances background checks, banking references or appropriate business plans.

Yearly requirements are dependent upon the jurisdiction that you incorporate but usually requires a yearly registration and government fee to keep the business active.

Takeaway

Forming a company structure overseas is not as difficult or complicated as it all sounds. With a few clicks of a button an in a few weeks you can get started on your international journey.

Offshore Financial Service Provider | +507 838 6842