14th August is National Financial Awareness Day in the US. We believe that financial awareness is key to a secure and happy life, so we’ve put together this list of eight important financial planning questions to ask yourself. Can you answer ‘yes’ to all of them? If not, it’s time to spend some time getting…
For companies or individuals operating internationally and crossborder, establishing an offshore company can minimise taxes, ease administration and provide confidentiality due to the opportunities provided by offshore jurisdictions.
Offshore company incorporation involves a company that is registered in a separate jurisdiction from where the owner lives, therefore a foreign jurisdiction. The risks associated with offshore corporations are similar to those of an onshore business.
Many investors unjustifiably believe that company registration is not an easy process to commence when, in fact, it is quite straightforward if you have the necessary knowledge. At Infinity, we see to all the details involved in offshore company incorporation.
From structuring the relevant documents to opening a company bank account so your company can make payments taking other jurisdiction tax into account, our services can ease the entire journey so your company can reap the benefits.
Offshore incorporation involves a relatively simple process that is prevalent in all renowned tax havens and offshore financial centers. Overseas company incorporation could present you with opportunities to gain significant tax savings, among various other benefits.
Using offshore companies can be advantageous because it does enhance the privacy of company ownership. Offshore jurisdictions often do not declare ownership unless there is a legal reason to do so, which usually involves crime on the part of the owner. This is because an offshore company legally functions as its own person. A typical offshore structure includes its own corporate bank account that is not in the name of the owner, and really the owner’s name does not need to appear anywhere near the offshore company because it is legally its own separate entity.
There is also an increased degree of asset protection as the distribution of assets in offshore companies, offshore bank accounts, trusts, etc., makes it very hard for entities to track them down. Therefore, your complete portfolio can be well hidden from the public eye.
It also offers legal protection should an opponent try to take you to court. This ties in with asset protection as it is the keeping of these things private that ensures legal protection for owners of offshore companies. The protection is enhanced because there is a legal separation between owner and offshore company.
Offshore jurisdictions make it easy for you to incorporate and easy to run companies in this way. In short, having an offshore company makes it very difficult for malicious entities to gain access to your private company information and corporate accounts. This is the type of added security that offshore incorporation offers.
Furthermore, you can register assets like any intellectual property, such as a trademark or patent, in the names of overseas companies. Infinity Solutions will investigate the potential tax liabilities in addition to the benefits that offshore company incorporation may entail and establish the best course of action regarding the distribution of your assets.
As much as the privacy aspect is an advantage, it can also be a disadvantage as it becomes tough for you to declare yourself as a beneficiary or owner of an offshore company. This is mainly because there are no public registers of offshore companies.
Many people will start an offshore company so that they can operate in tax-free or tax haven jurisdictions. However, when you try to bring the money back into your country, you are likely to become subject to taxation, which tends to put people off because it negates having done tax-free in the first place.
In recent years, some European countries have been pushing legislation that would force owners to prove that their offshore business dealings through an offshore company are indeed legal and are legitimate business activities. Simply ensuring your business is honest and in good standing with local laws as well as overseas jurisdictions eradicates this risk being applied to your offshore corporation.
Selecting the best jurisdiction to suit your individual needs for your company registration can be daunting. Contact one of our agents to help you with your offshore company incorporation in a jurisdiction that works for you. We will guide you in exploring certain offshore jurisdictions to identify how your company registration should be approached.
What makes offshore company formation unique is that the offshore company takes on its own identity and is not tied legally to the owner. The incorporation is entirely autonomous and can even establish its own bank accounts that are not affiliated with the owner at all.
Several places in the world, as seen as tax havens and even others, will have tax authorities issuing special taxation status to offshore corporations in certain jurisdictions.
Labuan is one such tax haven as it offers special taxes for a Labuan offshore company. We have agents in Malaysia that can help you to set up just such a foreign company; contact them now.
However, it is relatively easy to get rid of a Labuan offshore company by simply transferring the shares. Moreover, there are no earned fees, shareholder dividends, or inheritance tax involved.
The good news is that holding companies are entirely tax-free and won’t be required to execute an audit.
Offshore company incorporation receives scrutiny mainly because of its association with money laundering and tax evasion. In the past, there has been a great deal of malicious activity where a business gets involved in fraudulent dealings to reap all the benefits and potential capital gains that the misuse of offshore company incorporation provides.
What is important to remember is that having offshore company incorporation is completely legal, but unfortunately, there are some people who have taken advantage of the anonymity that it has on offer and have registered companies for nefarious purposes.
We at Infinity can help to ensure that all of your assets overseas are managed in a legal and ethical manner. That includes banking practices.
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I had been going through a really bad time with one of the Financial Advisors & Company I was with & actually was looking for some other company based here in HCMC to take over my “in place” & future investments & just happened to do a Google search & it came up with various…
We were introduced to Adon Beddoes at Infinity Financial Solutions in 2015 when we moved from Vietnam to Indonesia. He did a thorough review of our account and helped us update and finetune our investments, streamlining our portfolio and helping to put us into more effective funds. Adon is a great guy to deal with,…
I have been working with Adon Beddoes for a number of years now. He has always provided solid investment advice and kept me up to date on the performance of my investment. He is very knowledgeable and it is always interesting to hear his thoughts on what the investment future may look like. It is…
Adon really took the time to understand our needs, and came up with an advantageous solution for us. Thank you for great service!
Infinity’s Adon Beddoes, based in HCM city Vietnam, has capably and assiduously looked after my overseas financial assets for nearly eight years, following my transfer to Lao PDR. Before that, it was Trevor Keidan and team at Infinity Bangkok. Throughout my many years with Infinity, I’ve found them – and Adon in particular – to…
Adon Beddoes has worked very well with us so far. He explained the investment opportunities clearly, kept in contact frequently, and invited us in a timely fashion to review our portfolio and take part in regular webinars, which we have found enlightening. Great work.