User talk:Shelfcompanies

Offshore Company Formation

A company which is incorporated outside the jurisdiction of its primary operations is often called as an offshore company. An offshore company is usually formed in the so-called tax favored or "tax haven" jurisdictions where it is subjected to less or almost no tax at all. It rarely conducts business in its country of incorporation. While opting to form an offshore company a person often chooses a country where restrictions are more flexible and tax is much less than the country in which he resides.

An offshore company formation may also be known by the names like non resident company or IBC. IBC stands for International Business Company which can operate only outside the country of its incorporation and has rights to trade with only another offshore IBC in its country of incorporation.

Benefits of Offshore Incorporation

Most of us may wonder about the purpose of forming a company away from the nation where most of its business transactions are conducted. There are mainly five major reasons for this. The first and foremost reason is related to tax saving. As the offshore companies are mainly formed in tax haven jurisdictions they are often subjected to less or almost no tax thereby enabling a business to realize its profits in as tax efficient way. Another reason is simplicity of operation. All the companies other than internationally regulated ones like banks or financial services company can be easily operated and managed as offshore companies rather than onshore ones because when it comes to business reporting, account auditing, filing of financial records etc., the restrictions are likely to be far less for offshore companies than onshore ones. Not only are the restrictions less for offshore firms but they also have an advantage of fewer reporting requirements which means that the amount of company information and accounting data needed to be submitted and held on file is much reduced. An offshore company can be perfect entity for asset protection offshore. Assets can be owned by the company rather than directly by an individual and the company can be placed in trust. Offshore firms can enjoy higher level of anonymity which means that company can keep many of its affairs private which is not so possible for onshore companies.

Offshore Company Formation Services

Offshore company formation could be complicated task for those who have no or very little knowledge of the procedures and formalities of the country in which they are wishing to establish a company. In such case hiring offshore company formation services of offshore company formation firms can be the best way to incorporate firm in overseas with better legality, safety and speed. By availing their services, one can be relieved from all the difficulties related to complicate procedures of company formation as all the tasks will be carried out by these firms. They act as medium between you and local bodies to complete the offshore incorporation tasks. These firms usually have a team of experienced lawyers, chartered accountants and dedicated business experts who have the knowledge of rules, regulations and procedures for establishment of company in various jurisdictions. It is possible to incorporate offshore companies in many jurisdictions like Belize, Panama, Delaware, Hong Kong, Cyprus, Seychelles etc with help of these companies. So whether you wish for Belize company formation, Panama company formation, Delaware company formation or company formation in Seychelles taking help of these firms would always be the wisest option for fast and legal company formation.