One of the most pivotal parts to setting up an offshore company is your location. A location can be the making and the ending of your offshore incorporation as it determines the various benefits you receive for your new company. This will highlight ten jurisdictions that are regularly used by companies to benefit from lowered taxes and privacy.
Bahamas
Bahamas is a wonderful place and this holds true for companies who want to reside here too. Offshore companies that reside here are exempt from tax and have no obligation to file annual returns or audited statements. A company resided in the Bahamas can benefit from trade anywhere on the globe. One last benefit is that the company director does not have to be located within the country.
Belize
The Belize is very renowned for its ease and speed of registration. The country is English speaking and boasts low annual fees. Again this location is tax free and there is no need to annual returns and audited statements.
Cyprus
Cyprus is a very popular choice for people to locate their offshore companies, especially for the Russians. This is due to their taxation avoidance treaty agreed between Cyprus and Russia, making it a very popular area to settle. Due to the fact that Cyprus is part of the European Union, it means it is not regarded as an “offshore vehicle”. It is simply regarded as a very low tax jurisdiction.
Dominica
The beauty to this tax haven is that it only requires one person to incorporate it and requires no annual meetings. Again this is an ideal place for an offshore company and requires no file for returns or tax audit.
Malta
The country of Malta is boasting numerous tax treaties as well as the inevitable advantages to being a member of the EU. Malta has a particularly clean reputation and it is not associated an “offshore vehicle”, the location of Malta is merely a low tax area.
Panama
This offshore haven is very well established and denominated in US dollars. This area offers various offshore vehicles and directly benefits from the Panama foundation. This area is both tax free and extremely efficient for an offshore company start up.
Seychelles
One of the most popular choices for an offshore company to settle, any company that opts to reside in this location enjoys generous tax cuts and privacy.
British Virgin Islands
The BVI is again a very popular option people within Russia. However, the BVI is more geared towards the more established trading companies and this is due to lack of public registers. The BVI is an inexpensive offshore company solution. Finally, there is no obligation to report annual returns or statements.
Eight jurisdictions have been highlighted for you to explore when you plan to settle your company offshore. Settling a company offshore is a simple process especially when you choose to incorporate via a company formation agent. When choosing to take this avenue it is always advised to research the service provider and look into their background to see if they are a trustable and reliable service.
Offshore Formations 247 wrote this article. We provide an offshore company formation for companies who want to set up abroad. For more information on this please see our link.
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