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Why Offshore Incorporation In Switzerland Makes Sense
Until just recently, few companies from the Far East placed their operations between the cities of Geneva and St. Gallen. However, it is beginning to change quickly as more big Asian firms discover Switzerland for setting up an offshore incorporation.
Such as the Chinese Alibaba (media) headquartered in the city of Geneva a few firms have already settled here. Others are the South Korean Songwon International (chemistry) in Frauenfeld and the Indian Arexera Information Technology in Schaffhausen.
To most entrepreneurs, Switzerland seems like an attractive location for Swiss company formation and to do business through an offshore incorporation.
Like Cisco Systems, Kraft Foods, Yahoo, Nissan, Google or Cadbury moved their operations to the Lake Geneva region during the last decade that is why more than 180 international firms mostly from the U.S. and Europe.
Switzerland Gains Draw as Tax Haven
Several large U.S. companies are reincorporating from Bermuda to Switzerland. Aimed at corporations located in tax heavens this helps them avoid expected legislation.
Just recently, oil-industry firms Weatherford International Ltd., Forster Wheeler Ltd. and Houston's Noble Corp. as well as also conglomerate Tyco International Ltd. announced their moves. A similar move plans Transocean Inc., a big offshore driller after receiving shareholder approval. Early this year (2008), the board of Bermuda-based insurer ACE Ltd. approved a "redomestication" from the Cayman Islands to Zurich.
While being domiciled in countries like the Cayman Islands and Bermuda or even in the US state Delaware with favourable tax rules to preserve tax benefits the companies enjoyed chiefly, the moves are designed.
However, that Swiss company incorporation discovered that for tax protection Switzerland is a better place than in these countries. While operating from the U.S to close tax loopholes that allow U.S. companies to benefit from incorporating in offshore tax havens Tax authorities have threatened. Switzerland's tax treaties with the U.S. would still protect companies even if the laws should change. For this reason, the same tax advantages will be ensured by the offshore incorporation in Switzerland.
For years, as a location for commerce the French part of Switzerland has lagged behind its Swiss-German rivals. For years the city of Basel with its biotech, chemical and pharmaceutical industries flourished. Bothered with above average unemployment and a lack of dynamic businesses while the French speaking part of our country drew up the rear Zurich's financial services sector also grew very rapidly.
For a company looking for their European operations and headquarters to this region Switzerland has become the logical choice. For people with a good education and appropriate salaries and knowledge transfer Regional company seats mean high-qualified jobs.
Nevertheless, they keep coming, from all over the world but also from Asia. For new offshore incorporation start-ups nearby, the town of Nyon is the second most dynamic area in Switzerland. It is currently registering an annual increase of seven per cent. Morges, another town close by registers similar increases. The addition of companies moving into the Geneva-Montreux region was very noticeable in recent years.
The Lake Geneva region - the perfect location for an offshore incorporation
Then, there is the availability of highly qualified staff, both in numbers and in proximity to the company's location. This is rather difficult to find in other European countries. Additionally comes that many employees are bi- if not tri-lingual and Switzerland has a high educational standard.
For this reason, to companies in the service industries the region is proving particularly attractive. Where more than half of their revenues may come from today in East Europe and Asia, it will also move U.S. companies closer to a faster-growing customer base.
Rusca Dimitri works in for a trade finance company for more than 20 years. He has good management skills and during his free time he writes short articles on Swiss company incorporation, and Swiss company formation.
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