Setting Up Companies Offshore

By Author: Gareth Hoyle
Total Articles: 692
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There are many reasons why people choose to start their companies offshore. The main reason that most people think of is the tax relief that it tends to offer when compared to paying UK business taxes. However, it can also offer your business closer proximity to your market and it can offer the directors of the company much greater privacy and protection of their rights. It is vital that you follow the laws in the UK and in the jurisdiction that you intend to incorporate in, but if you do this then you can enjoy the benefits of running offshore companies.

You do not need to live in the jurisdiction in which you are establishing your new business. Lots of countries welcome outside investors and they also welcome entrepreneurs and businesspeople that are looking to incorporate their businesses in a new country. Some countries set up special free trade zones where this is not only popular but actively and beneficially encouraged. Dubai is a prime example of this.

If your business operates internationally or globally, for example if it is an Internet based business, then it may prove beneficial to have a bank account ...
... and run your business within the country where you conduct the majority of your business. For example, if you conduct a lot of business in Singapore then having a Singapore bank account, company address, and details will make you a more appealing prospect to locals.

The tax relief that offshore companies receive is a big draw for a lot of businesspeople. If your business revolves around another country then you can legally and legitimately establish a business there, and if that country has lower tax rates for businesses than the UK then you can benefit from these as well as your improved proximity.

When you register a business in the UK you need to register the names of directors and shareholders, and you must file certain records every single year. Many of these records and documents can be viewed by other businesses and by members of the public. Registering abroad enables you to take certain legitimate measures to keep your name away from these files.

OffshoreFormations247.com has helped many people establish companies offshore and has access to a range of jurisdictions each with their own benefits and legislation.