6 Reasons To Take Your Company Offshore
Running a successful business has become difficult. Corporate taxes, high wages, lack of skilled labour, political and economic instability drive companies toward losses. Instead of enabling the business people of their country, governmental bodies make their existence challenging.
Due to unfavourable conditions, many businesses file bankruptcy or wrap up their operations and move to another country.
A good businessman is always on the lookout for a better opportunity, here is a list of reasons to make your company international:
In this age of digitalization and technology, borders are blurred. Chances are, you might already be in business with international clients. Multiple opportunities lie offshore. Limiting yourself with invisible boundaries and borders is keeping your business from earning higher profits. So, break free and conquer undiscovered markets with break-through ideas.
Many countries attract business investment by offering tax-free trade zones and policies. By establishing your business in a country that facilitates business activities, you can reduce your tax liability and improve your income stream.
If your companies own various properties and assets, then establishing an offshore company is an excellent protection vessel for you. Many countries offer lower tax rates on corporate assets and even facilitate Intellectual Property rights with conducive R&D policies. One of the best ways to invest in international assets is to already have some money aside in an offshore bank account.
Less red tape
Since you’re bringing business to a country, they treat you with less paperwork and easy setup process. Laws and regulations regarding offshore company’s capital and shares are relatively flexible. They don’t need to hold annual general meetings and have no restriction on the number of shareholders and directors.
Tax-free zones and Special Economic Zones offer easy setup process, less paperwork, access to local resources and most importantly, lower or no taxes. Entrepreneurs can create a physical presence in another company by benefiting from these special zones.
Access new market
In order to grow your business, new markets need to be approached. Offshore companies provide a great opportunity to explore and learn about a new market. A business-friendly environment created by the local government allows easy penetration into the profitable market.
Life of an expat
If you have a brain of an entrepreneur and want to explore undiscovered locations, then an offshore company is the best solution for you. This way, your work will become your passion and you can excel at life and business by striking a healthy balance between both. To apply for a complimentary consultation and see if offshore incorporation is right for you, click HERE.