6 Reasons To Take Your Company Offshore

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:

 

Globalization

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.

 

Tax exclusion

reduce their corporate tax bill Entrepreneurs want to reduce their corporate tax bill and setting up an offshore company is an easy way to avail multiple tax exemptions.

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.

 

International assets

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.

 

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.

 

Easy setup

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.

 

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About The Host, Mikkel Thorup

Mikkel Thorup; the host of The Expat Money Show, has spent nearly 20 years in continual travel around the world, visiting nearly 100 countries including Colombia, North Korea, Zimbabwe and Iran.

His goal now is to help Expats just like you to generate additional streams of income, eliminate your tax bill, and take advantage of offshore structures so you can travel the world freely and never have to worry about money again.


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