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There are a number of benefits that you can take advantage of through offshore company formation plans; whether you are seeking asset protection, confidentiality, privacy, tax savings (depending on your jurisdiction) or simply growing your business outside of the US or UK. There are a number of pitfalls to keep in mind and choosing the right jurisdiction to form companies, based on your specific needs, is a critical first step.
Forming offshore companies, or incorporating offshore means you need to select a country. Each jurisdiction has a slightly different value proposition for international clientele and the benefits vary. Here are just some of the general benefits of offshore company incorporation:
- Asset Protection
- Lawsuit Protection
- Taxation (varies depending on your jurisdiction)
- Financial Privacy
Performing business and conducting banking transactions in the name of a legal entity provides significant privacy benefits. The names of the underlying officers, directors and shareholders can be omitted from the offshore company’s documentation in many jurisdictions, such as Nevis and Belize. With that said, there are anti money laundering laws that will result in professionals reviewing structures. Most jurisdictions will not disclose who formed the offshore companies, specifically the owner’s names, to any third party or foreign government. This is, unless, of course, an act of criminal atrocity or, in recent times, terrorism, has taken place and is being investigated.
Offshore Company Formation and Assets
Placing assets into offshore companies and legal structures can offer a strong layer of protection from future liabilities. Some of the wealthiest and most legally shielded individuals in the world will say, “Own nothing, control everything.” By having bank accounts and other assets owned by your entity make them difficult to find through a standard asset search.
Offshore Company Incorporation and Legal Protection
If a legal opponent is pursuing suit, this typically involves an asset search to make sure there will be a return should a judgment be awarded. Having assets in an individual’s name, they can easily be located in an asset search. Forming offshore companies and titling assets to the company, means they are no longer tied to your name. Therefore your assets can be shielded from legal opponent, judges and court rulings simply by incorporating offshore.
Another benefit you can take advantage of is simplicity. Most offshore jurisdictions make it simple on anyone who is interested in incorporating. OffshoreCompany.com is the world leader in offshore company incorporation. We assist in your strategy and developing a service plan for your needs.