Starting a Business in Offshore
Recent forum posts
I am German and living in Spain. I am programmer and want to offer applications and software online.The tax and health injured is high so I am thinking to start my business overseas.Currently I am collecting information and can’t find anything about opening a business as a non-resident without residence in NZ.
Total Posts: 3 Last post by sam
I am starting a hiking business in France, but based in UK. Does anyone have any contacts where I can get PL insurance valid in France?Many thanks
Total Posts: 1 Last post by firstname.lastname@example.org
What is an Offshore Company?
The term “offshore” was termed in the 1980’s and is used to describe a jurisdiction or country that provides corporate and commercial services to non- resident companies.
They are usually small, with financial centres hugely disproportionate to the population, and the attraction for companies and investors is the climate of low tax coupled, in many cases with privacy.
Today the most popular offshore jurisdictions include:
- British Virgin Islands – the largest number of registrations
- Bermuda - probably best known for aircraft registration.
- Cayman Islands - which has the most assets under management in offshore funds,
- Jersey - popular with the banking, fund management and professional services sectors.
- The Bahamas has a considerable number of registered vessels.
- Panama is a famous international maritime centre.
The main reasons companies choose offshore company formation include:
Many corporations include lots of individual and separate companies. It might be sensible for this type of organisation to register offshore simply as an asset holding vehicle.
Companies doing business in politically or financially unstable countries may choose to incorporate offshore to avoid risk, and protect their assets. This also applies to countries where it is not easy to get the money out, or where exchange rates might make business (and profitability) difficult to predict.
Companies involved in complicated financial dealings will also opt to register offshore for a variety of reasons, not least to keep the financial regulations simple.
Offshore jurisdictions are frequently used to set up joint venture companies where two or more organistions from different countries (with different legislations) need to set up a separate entity.
Successful companies who want to become a public company will choose the offshore company formation option to enable them to be listed on the relevant stock exchange.
Organisations that can assist with Starting a Business
PEO Worldwide is an international PEO offering employer of record, payroll, employee benefits management, HR and compliance services throughout the world.
Simplified Global Payroll Managing payroll in multiple countries is complicated with different systems, deadlines, and languages in each country, lack of reporting, and constantly changing laws and regulations. Trying to manage global payroll via fax and email with excel spreadsheets leads to data security issues, fines, and penalties for non-compliance. Blue Marble has solved global payroll challenges with cloud-based technology, customized aggregated monthly reporting, and a hybrid service model in 145+ countries around the world.
More Group is an international accounting firm specialising in tax accounting, business incorporation, and trustee services. Contact us today to book your free initial consultation.
Finding office space abroad poses one of the most difficult changes that many start-ups face. Location, costs, and transport all need to be considered. And, more crucially of all, what office will allow a new business to attract and retain the best staff?