Why Go Offshore ?

The income from taxable jurisdiction flowing to the offshore company (holding company) is not taxable. Interest in establishment of offshore companies has been popularized by the ability of the offshore corporate entity to mitigate taxes to its beneficiaries. Residents of countries with high tax rates may be able to reduce the tax they pay by arranging for profits to be attributed to a company incorporated in a territory, which does not tax the income earned outside of the territory.

Going offshore: Reasons and Benefits

Reasons and benefits for individuals and corporations to utilize offshore companies include:

  • Maintain financial privacy
  • Reduce tax
  • Manage risk
  • Avoid costly bureaucracy
  • Reduce costs
  • Enhance assets
  • Free remittance of profits and capital
  • Access to tax treaties
  • Security of property rights
  • Banking privacy
  • Availability of offshore experts
  • Access to foreign insurance and reinsurance
  • Enhanced privacy
  • Territorial taxation on foreign income
  • Fewer restrictions
  • Sanctity of contracts
  • Foreign investment inducements
  • Higher yields and returns
  • The search for political stability
  • No inheritance, succession or gift taxes
  • Protection from inflation
  • Reduce legal liabilities
  • Reduce operating expenses
  • Freedom from currency exchange control
  • No international trade tariffs
  • No annual tax return requirements
  • Data on owners and directors not publicly available and remain confidential
  • World class banking and investment management services available
  • Offshore Companies Applications The principal uses of offshore companies are:

  • Trading
  • Investment
  • Holding
  • Financing
  • Patent, royalty and copyright holding
  • Real property ownership
  • Ship management and yacht owning
  • Personal and corporate tax planning
  • Flyingcolour have over 8 years experience in offshore company formation and management. We have a specialist team dedicated to set up offshore companies and trusts in local and international offshore jurisdictions. Our comprehensive range of offshore services provides solutions to clients looking to minimize taxes, protect assets and limit liabilities.

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