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Why Create an Offshore Corporation?An offshore corporation, or offshore company, is a limited liability company or corporation that has been registered in a country other than your country of legal residence. The creation of an international business company, IBC, can serve many purposes.If an IBC is properly structured it will protect the anonymity of its owner. In fact, many offshore jurisdictions specifically protect an owner's identity, when bank accounts are opened in the name of the IBC itself. An IBC can thwart litigation brought against the owner, when the IBC is properly registered to veil its ownership, and when the IBC is incorporated in a country that strongly enforces its confidentiality laws. Doing business through an IBC allows direct investment using strategies, financial tools or markets that are not available in the owner's country of residence. It also allows the business to expand its sales to a global market without scrutiny by market competition. Finally, although taxes must still be paid on income generated by an IBC, there are numerous advantages to the offshore structure. Among them, reduced tax rates apply to corporate earnings that are not reported as personal income but as income of the IBC. Income attributed to the IBC also protects the anonymity of the owner, and adds nothing to the owner's personal wealth profile. Most authorities currently recommend the following six countries as being the most vigilant protectors of IBC privacy laws: If you find the idea of being the president of your own international business company appealing, or if you will take advantage of the protections and freedoms allotted to an offshore corporation, then exploring the creation of your own IBC is well worth your research time. INCORPORATE NOW!
Want more information about registering a company? Visit our Guide. Check out incorporation fees by each state. Tip: Did you know that Delaware and Nevada are top two incorporation states? Ready to register a company? Choose one of these great online incorporators: Business Filings The Company Corporation My Corporation (Intuit®) |
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why create an offshore corporation?