Who uses Offshore Companies?
- Individuals
- High Net Worth individuals
- Expatriates
- Corporate
- Financial Institutions
- Global Companies
- Specialist Corporate Users
- Owner Managed Businesses
- Immigrants and Expatriates
- Banks and Capital Funds
- Shipping and Trading Companies
- Copyright Owners
A wide range of our clients use Offshore Companies, these include large international corporations to small business groups e.g. family businesses and private companies. These clients are engaged in wide range of business activity, which includes engineering to banking.
Offshore companies are beneficial for many purposes including:
1. Consultancy & Professional Services
Professionals, consultants, artists and many self-employed individuals can gain substantial advantages by working as employees or as external consultants of offshore companies, of which they may be the sole shareholders/director.
2. Employment of Expatriate Staff
Expatriates working overseas can frequently benefit from being employed through an offshore employment/consultancy company. This can avoid tax being deducted at source. By not remitting the full salary it can minimise tax and avoid exchange control difficulties in the country of temporary residence. This arrangement will be particularly attractive to expatriates working in politically unstable countries.
3. Property Owning Companies
There are often significant advantages in using an offshore holding company for the purpose of holding property. The advantages of such an arrangement include the avoidance of inheritance tax, capital gains tax and the ease of sale that can be achieved by transferring the property owned by the company and reduction of property purchase costs to the onward purchasers.
4. Investment Companies
Funds accumulated through investment companies set up in offshore areas can be invested or deposited throughout the world and whilst generally returns or interest payable in respect of these funds will be subject to local taxation, there are a number of offshore areas in which funds may be placed as bank deposits where the interest and/or the capital gains are paid and kept gross. To invest in global securities including mutual funds not available to "local" citizens. Offshore jurisdictions are typically less invasive allowing for aggressive and unrestrained Free Enterprise.
5. Copyrights, Patents and Trademarks
Offshore companies can purchase or be assigned the right to use copyright, patent or trademark. Royalties can then be accumulated offshore although often royalties may suffer withholding taxes at source. An interposing holding company in some cases may allow a reduction in the rate of tax withheld at source.
6. Privacy
A high net-worth individual can save professional fees and unwanted publicity by owning property or other assets through an offshore company.
7. Protection
- To protect against predatory litigation before it begins.
- To segregate high-risk investments from other more secure holdings.
- To protect retirement funds from possible bankruptcy.
- To provide for the transfer of assets for estate planning.
- Nominee directors and officers can allow you to conduct business transactions for your benefit while you remain anonymous.
- To access your funds with corporate debit or credit cards thereby maintaining absolute confidentiality.
