Learn Offshore Company Formation Techniques

by Bradford Chaderington

Registering an offshore company in a tax haven with excellent banking secrecy is one of the corner stones of a good asset protection plan. Registering your corporation offshore in places such as Panama can offer you favorable tax incentives such as no capital gains taxes and no income tax on money derived outside of the country.

Offshore corporations come in two main flavors; the International Business Company and the Limited Liability Company denoted as IBC and LLC respectively. Companies that reside in countries with restrictive tax laws are increasingly seeking out countries like Panama which offer favorable tax laws and incentives to encourage businesses to relocate part or all of their business.

Another tax exemption that an offshore corporation can benefit from is from import taxes. These import tax exemptions not only include exemptions from use of shipyards or airports that they use to bring business materials in to the country, but also an exemption for the materials themselves. These generous tax exemptions are leading many companies and people to decide to establish an offshore corporation.

Countries like Panama have strict privacy laws in place that can almost guarantee the anonymity of your corporation should you choose to have it that way. You also do not have to worry about laws against thin capitalisation, which allow you to form your offshore corporation with a very minimal investment.

An offshore company also does not have to worry about high levels of reporting to the government, an aspect that many that run a corporation enjoy. While the laws do differ from country to country, generally with an offshore incorporation, the business is only required to report a minimal amount of information on the company. This is another step that helps lead to keeping a high level of anonymity for your business.

An offshore company also does not have to worry about high levels of reporting to the government, an aspect that many that run a corporation enjoy. While the laws do differ from country to country, generally with an offshore incorporation, the business is only required to report a minimal amount of information on the company. This is another step that helps lead to keeping a high level of anonymity for your business.

Prior to making a decision to form an offshore company consult with a professional attorney in the country where you would like to incorporate. Forming a company through a lawyer allows you to further enhance your privacy protection by providing attorney client privilege.

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