There are many reasons for setting up an offshore company. Offshore jurisdictions usually offers better tax rates and allow your business to enjoy bigger profits while ensuring that it stays within the legal avenues. However, business owners should get themselves familiarized on the legal boundaries of offshore setup so that they do not inadvertently cross the line and suffer legal ramifications.
Healy Consultants Group PLC provides excellent and professional advice for businesses that are interested to learn more. The followings are some top benefits for having an offshore account:
- Tax rates: as mentioned above, this is often the most attractive part about setting an offshore account. Many jurisdictions provide low rates and even exemptions. If your annual revenue is high, this reduction of taxation will translate into an handsome saving for your business.
- Privacy: A business can nominate third party directors in an offshore setup and keep your business dealings private from public eyes. Although this may sound shady, it is actually a common practice for companies dealing with sensitive clients and industries.
- Registration speed: many offshore jurisdictions have lenient or efficient business set up process and can ensure your business entity is set up with minimal fuss and bureaucracies.
Here is an infographic on our preferred offshore jurisdictions (please click on the image to download the high quality infographic)
To learn more about setting up an offshore company, go here: https://www.healyconsultants.com/offshore-company-formation/