Offshore usually means a jurisdiction other than where you or your business are located. Individuals and companies typically look for a safe place to protect their assets and investments and to optimize their taxation. They use offshore jurisdictions for various reasons, but these reasons are often crucial.
We are able to provide the following Trust & Fiduciary Services:
- Tax minimisation - most offshore companies do not pay local taxes on income, derived from offshore operations.
- Protecting and enhancing the assets - in case of a lawsuit, the legislation of jurisdiction of incorporation is applicable, not the legislation of claimant’s jurisdiction. Many offshore jurisdictions are known for their favorable laws for protection of assets.
- Cost - the offshore companies typically have lower maintenance and maintenance fees. The cost of preparing the accounts and audits in onshore areas is often significant, while offshore companies save on these specific costs.
- Easy to account - Most offshore companies [international business corporation (IBC)] are not required to file annual reports under the jurisdiction of incorporation of the company.
- Confidentiality - Registrars in most offshore jurisdictions do not disclose information about directors, shareholders and representatives of offshore companies [international business corporations (IBC)]. Thus, the key person may carry out all relevant transactions on behalf of an offshore company, remaining anonymous.
- Headquarters costs - They are also significantly lower than buying or renting premises in onshore jurisdictions. Further, a virtual office address of the company could be generated to lower the expenses for running it.
For information and fees related to offshore companies, please contact us.