| Setting up company away from your homeland | | | | offshore company that would help to reduce |
| might sound queer to many. But observing | | | | the extra tax burden off your shoulders. |
| recent trends, there has been a rise in the | | | | |
| number of people setting up companies | | | | Company operation would be simplified to a |
| offshore. Distinct legal entities, offshore | | | | great extent in case you decide to lay the |
| companies or International Business | | | | foundation of an offshore company. The burden |
| Companies, are taxable individual bodies | | | | of account auditing and filing of records |
| capable of performing business operations. | | | | would be significantly minimized resulting in |
| | | | the overhead reduction and saving of time and |
| Setting up an offshore company is not quite a | | | | energy as well. Offshore companies not only |
| taxing affair- the entire process might even | | | | help to reduce overall company operations but |
| take just 24 hours! Prior to settling for the | | | | also help to cope with other business |
| deal, it's very important to chalk out the | | | | requirements such as those related to |
| pros and cons of its establishment, along | | | | financial arrangements etc. |
| with the benefits that would be drawn from | | | | |
| it. To be precise, there are a number of | | | | In coordination with an offshore trust, an |
| financial and legal advantages that make | | | | offshore company can be an effective tool to |
| opting for an offshore company viable. | | | | protect the assets of an individual, |
| | | | retaining a certain degree of control over |
| To begin with, an offshore company helps to | | | | the entire management at the same time. |
| minimize the added burden personal taxation. | | | | |
| For instance, residents of high tax countries | | | | Complete confidentiality and anonymity is |
| like the US or the UK can plan to set up an | | | | achieved through the proper establishment of |
| offshore company in Antigua (or any other | | | | an offshore company. Since the underlying |
| place) to route their personal income and | | | | principle of an offshore company is extreme |
| profits and register a decrease in their | | | | confidentiality, steps are taken to keep |
| personal taxation. Companies set in an | | | | every detail out of public documentation and |
| 'offshore' jurisdiction are taxed either | | | | vigil. |
| exempted or taxed low. As long as a company | | | | |
| in an offshore jurisdiction does not enter | | | | To conclude, an individual's primary motive |
| into any business, it is able to avoid almost | | | | for setting up an offshore company definitely |
| every local taxation. | | | | revolves around the motive of reducing the |
| | | | burden of extra taxes. In fact, such security |
| An offshore company can thus be of great help | | | | and tax shelter is also offered by offshore |
| to reduce or negate tax burden of an | | | | banking. So whether you choose to establish |
| individual. An individual's decision to opt | | | | an offshore company or to bank offshore, |
| for a certain offshore jurisdiction depends | | | | professional aid and advice is obligatory to |
| on the country of which the concerned person | | | | ensure a legal operation as well as good and |
| is a tax resident of and the structure of the | | | | respected jurisdiction. |