KNOWLEDGE BASE

Utilising Offshore Companies

HOW TO PROCEED

WHY GO OFFSHORE?

The motivations for individuals and corporations to utilise offshore planning and offshore companies include the desire to:

• Reduce tax
• Protect assets
• Manage risk
• Maintain privacy
• Avoid bureaucracy
• Reduce costs
• Enhance assets

THE BENEFITS OFFERED BY OFFSHORE COMPANIES

More specifically, the reasons for going offshore and utilising offshore companies for tax planning and offshore business include:

• Free remittance of profits and capital
• Access to top-rated debt history jurisdictions
• Access to tax treaties
• Security of property rights
• Accessing low cost areas
• Banking privacy
• Availability of offshore experts
• Access to foreign insurance and reinsurance
• Enhanced privacy
• Customs and duty exemptions
• Exchange convertibility
• Government cooperation
• Fair treatment
• Territorial taxation on foreign income
• Fewer restrictions
• Sanctity of contracts
• Foreign investment inducements
• Tested legal systems
• Higher yields and returns
• The availability of sophisticated banking facilities
• Reduced taxation
• The search for political stability

The principal uses of Offshore Companies are:

• Trading
• Investment holding
• Financing
• Professional services or consultancy
• Patent, royalty and copyright holding
• Ship management and yacht owning
• Personal and corporate tax planning