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Benefits of Going Offshore
Why do so many businesses choose to incorporate outside their home country?
The ever increasing globalization drives the global economy and businesses can now look beyond their country’s borders for optimum business solutions. We have had a decade of experience establishing thousands of businesses and companies for clients across the globe. Using our accumulated experience we have narrowed down the list of reasons people decide to incorporate their businesses offshore:
- E-commerce stores – online stores sell their products and services to buyers across the globe and this requires a different system of operation from stores with a physical location in one country. E-commerce businesses have unique needs that can be met by incorporating offshore. They need to be able to establish a formal legal entity; open bank accounts and organize a payment processing system. By incorporating an offshore company they will be able to manage their e-commerce store in a legal and practical manner. Online stores can then send invoices to suppliers; sign contracts and receive payments from clients via the corporate structure.
- Real Estate – businesses handling commercial real estate in a foreign country need to incorporate in that country. The property licenses are handled by the foreign company so that they can benefit from tax regulations in the country where the property was bought or sold. The ongoing management of property in a foreign country is also easier if you have an incorporated company in the foreign country. This also provides transparency for property investors who are more willing to do business with companies incorporated in the country where the property transaction is taking place.
- International Companies – companies which do business in multiple countries wish to expand their business by establishing branches and additional international companies abroad. The easiest, fastest and most efficient way of expanding internationally is to do so via a foreign company. This leads to global expansion. Major international companies like e-bay, Amazon and Google have all gone this route and established many offshore companies.
- Trust Fund Management – it is common for businesspeople to establish funds into which they place all their liquid investments and focus their business activities. A trust fund encompasses a number of different assets intended to benefit and provide financial security to an organization or individual. A grantor establishes an offshore trust to hold assets and the benefits are distributed to beneficiaries. The benefit of having an offshore trust is that it is protected from creditors, legal judgments and taxes in your home country and instead becomes subject to the laws of the offshore jurisdiction.
- Asset Protection – there are methods of protecting your assets from liabilities in other jurisdictions as assets kept offshore are subject to the laws of the foreign jurisdiction.
GBO International Financial Services LTD is fast becoming a world leader in providing financial services for online gaming and casino companies. These services include incorporation of companies, opening business bank accounts, licensing, payment solutions, nominee services and more. GBO offers the most innovative A to Z financial solutions for Gaming and more.