Offshore Company For Effective Tax Planning And Sound Investments

Overseas Company
Best Overseas Company
  • Overseas Company
  • Overseas Company

    An Overseas company refers to an offshore company or a company which has been incorporated in an offshore tax haven. Overseas companies have become very popular over the years as more persons have become aware of the advantages of owning an overseas company. Offshore company registration can be done in many countries which are known as offshore jurisdictions. Some of the more popular offshore jurisdictions are Belize, Anguilla, Dominica, British Virgin Islands, Seychelles, Singapore, Hong Kong, Cyprus, St Kitts and Nevis, Panama, Bahamas and many others.

    Overseas company formation can be done in a simple process which may not take long depending on the offshore jurisdiction used for offshore company formation. An offshore company formation service provider can incorporate an offshore company on behalf of a client, saving that person a trip to the offshore jurisdiction. In many of the world’s offshore tax havens an offshore service provider must be employed for company formation as well as the registration of other offshore entities. For offshore company formation the offshore service provider must file Memorandum of Association and Articles of Association with the Registrar of Companies. The information to be file includes:

    ■ The proposed name for the offshore company
    ■ The name and address of the registered agent
    ■ The registered address of the company in the offshore jurisdiction
    ■ The authorized share capital of the company
    ■ The currency in which authorized share capital will be issued
    ■ The types of shares to be issued
    ■ The number of shares to be issued
    ■ The value of issued shares
    ■ The rights, powers, limitations, voting rights and restriction placed on each class of share
    ■ The names, nationalities and addresses of shareholders
    ■ The names, addresses and nationalities of company directors
    ■ The business operations to be carried out by the overseas company
    ■ The by- laws of the offshore company

    The overseas company is a tax exempt company which is perfect for persons who consider reducing tax liabilities. In order to take advantage of tax exemptions the jurisdiction of overseas company formation must be chosen very carefully as there are zero tax havens and low tax havens. The zero tax havens have no local taxes applied to the profits of offshore companies whilst the low tax havens have local taxes in place for profits of offshore companies. Offshore companies incorporated in the zero tax havens pay no local taxes on incomes gained outside of the jurisdiction. taxes which companies are exempted from include corporate taxes, income tax, withholding tax, capital gains tax etc. these companies will pay a registration fee as well as annual license renewal fees. Offshore Companies incorporated in tax havens which actually levy taxes will pay taxes at low rates.

    An overseas company in a tax haven will benefit from privacy laws and also asset protections laws. All information regarding offshore companies in the offshore tax havens are confidential and in some tax havens this includes the names of the company owners. Offshore company legislation prohibits persons from giving out offshore company information. Assets placed in offshore companies are also protected by strict laws. All assets placed in an offshore company during incorporation belong to that company and these are protected from foreign court rulings and creditors.

    Offshore company registration is a wise investment as these overseas companies can be used for a number of purposes including as holding companies and as trading companies. Overseas companies are excellent for tax planning and for asset protection. Offshore company incorporation is very affordable in the offshore tax havens.