Minimizing your tax liability and increasing confidentiality are not just the only advantages of setting up an offshore company. Although tax effectiveness is the first and foremost benefit that comes to mind when considering offshore companies, the opportunity to considerably reduce business overheads is also a very attractive bonus. The non-resident companies are often tax exempt or enjoy very low levels of taxation depending upon the jurisdiction. Another advantage that accrues to the n on-resident companies, is that they are not required to publish financial information or the details of directors and shareholders. Most financial jurisdictions in the normal course of business will not show or divulge these details to any third-party. The legal obligations of any director or officer of an offshore company is significantly reduced . Thereby reducing the need for accounting, the need for other staff or a physical office can also be overcome with cost-effective virtual office services – saving time and money. For those with international business interests, an offshore company offers asset protection and can be valuable as a vehicle for holding assets such as intellectual property or real estate investments.
Given the many benefits of setting up an offshore company, it is increasingly becoming a part of the growth strategy being adopted by a multitude of companies. Setting up an offshore company requires minimal capital with the costs of offshore company registration often being less than the costs of registering an offshore corporation. If you have a business establishment in the UK or the place of residence is the UK, and you supply goods and services to customers based outside the European Community member states, then you can apply for VAT registration on a voluntary basis, provided you receive supplies from UK VAT registered businesses or import goods into the UK . GWS Offshore through its experienced team of attorneys, tax advisers, and business set up consultants is best equipped to lay the groundwork and navigate the complex of various processes to set up an offshore corporation in the shortest time possible. If you want to set of an offshore company and need help with overseas company registration, you can try the services of GWS Offshore.
