Offshore Incorporation: Breaking Barriers

2007-03-08 10:33:40

( Business )



THE FREEDOM OF ANONYMITY

Offshore incorporation refers to the creation and maintenance of a company on foreign or international soil. Offshore incorporation is being done for a variety of purposes, but the most reason is privacy and protection from legal liabilities.

Privacy is the main feature of offshore incorporation. Offshore incorporation creates what is called as an offshore company or international business company (IBC). When an offshore company has been set-up correctly, it provides you as the company owner financial confidentiality. This level of privacy prevents the tracing of the offshore company ownership to you because all transactions are being done using the IBC’s name and not yours.

Moreover, offshore legal regulations are designed in such a way that protects the owners of the offshore account. There are very strict laws that prevent disclosure of the account or company owner’s name. Depending on where the offshore incorporation took place, such stringent laws are very difficult, if not impossible to bypass.

LEGALLY ABOVE-BOARD

There was a time when offshore accounts and offshore incorporation were associated with a rich history of shady and illegal dealings, it is not true today. While there may still be some stigma attached to offshore company registration, it is slowly disappearing as more and more individuals and companies are doing offshore incorporation.

In the past, offshore incorporation was all about tax exemptions. However, with the world getting smaller through sophisticated communication technology, having an offshore company is now a widely-accepted practice among businesses.

Among the many attractions of offshore incorporation are anonymity and privacy, protection of assets from legal liabilities, tax exemption, high interest bank accounts, and less stringent financial and auditing requirements. Moreover with offshore incorporation, you also have the chance to expand your business on an international scale.

Offshore incorporation can be complicated, so make sure to engage the services of a company who specializes in the establishment of offshore company and offshore account. They will make sure that everything is done properly and above board, with full compliance with international laws.


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