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Minimizing Taxes through Offshore



Investors having their businesses with the international markets and laisse with different tax regulations would tired off how structure them and make them less complicated. And yes, they also look out for ways to save on the taxes after all they are businessmen right.

This blog would highlight on the context of how to minimize these taxes legally. It is always better to have a structured business which would enable the rights of the shareholders in a synchronized fashion which would indeed reduce taxes and protect your assets. The most popular and recommended form of structuring the business would through the special purpose vehicles like offshore companies. Most of them are still in dilemma whether an offshore company is legal after the huge documentation leak. But not to worry to set up an offshore company is completely legal and the most operative way your assets and Income. All the MNC’s structure their organizations through offshores which would help them growing their business by having low taxes and saving money for the expansion purpose.

Protecting the business from Political unrest and Litigation

There are several benefits of an offshore company setup. To name a few would be like protecting your assets your family members or even the partners, lowering the tax burden put on the company and majorly any kinds of litigation’s on the business. The other major advantage of an offshore company in the Global tax market would be protecting from the political unrest and the economic situation of the country where the businesses been operated. Every country has its own policies and regulations when it comes to taxation. When the ownership of the company is with an offshore jurisdiction which is outside the country of operation then the regulations of the origin of the offshore company is applicable when the profits are repatriated.

Protecting the Company’s Brand

The beauty of an offshore company is that you can own your patent or a trade mark under the offshore company which would carry the sole ownership rights of the brand and would further allow buying or selling these rights to third parties. This way makes it easier and structured. Multiple brands could be owned under one offshore.
Who can setup an offshore company?
An offshore company is better served for many businesses all over the world. Any intelligent business owner looking to secure his business interests and assets lowering the taxes would no doubt opt for an offshore structure as an umbrella to own their several businesses. Having all these in mind starting an offshore company is not so easy. A right advisor is mandatory to understand our businesses and advise the structure.

Where can Offshore Company be incorporated?

The most common jurisdictions to setup an offshore company are Mauritius, British Virgin Islands (BVI), Cayman Islands etc. there are certain low or zero tax jurisdictions which includes Malta, Hong Kong, Singapore etc. Above all Middle East is emerging as a Hub for offshore companies by its predominant factor of Income and Business Tax free jurisdiction. UAE is the predominant country hosting 2 offshore jurisdictions namely Ajman, Ras al Khamia (RAK ICC) and Jebal Ali (JAFZA).

Documents required to forma an offshore company:

  • Passport copy of the share holders
  • Recent Utility bill of the shareholders which stands as an address proof
  • Bank reference letter
  • 6 moths personal bank statements
  • CV/Resume

Once decided on the above, the most important aspect is finding the right registered agent as an offshore could only be setup by a registered agent with a registered office address. The cost of setting up an offshore company would vary from jurisdiction to jurisdiction. To further elaborate it in detail, we at flying colour could consult you in detail about your requirement.
This blog post is written by Ms. Sowmya. If you are looking for assistance in business setup in Dubai, UAE or international offshore jurisdiction, please feel free to contact us. Our team of experts would be available to assist you with the requirements.Feel free to call today for a more detail. Please send inquiry to info[at]flyingcolour[dot]com or call +971 4 4542366.

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