Offshore Formation Blog

The Tax Benefits of Offshore Companies

Friday, February 10, 2012

You may not be aware that there is a beneficial alternative to registering your business in the UK. Offshore companies can save your business a significant amount of money in tax payments. You will know that UK corporate tax rates can be prohibitive, whereas offshore jurisdictions operate structures where these tax rates are much lower. Indeed, some even offer total exemption. These tax havens have attracted many businesses over the years to locate within their borders. Equally, these days, an increasing number of companies are choosing to operate through these jurisdictions so that they can benefit from the tax benefits of offshore companies.

International Business Company

Here, at Offshore Formations 247, we can register your business in a variety of offshore locations. You will be starting up an International Business Company (IBC), frequently called offshore companies. These IBCs are incorporated in one of the many available offshore jurisdictions, but actually do business all over the world. Most offshore locations will only allow these companies to trade outside of where the company is registered in order to qualify for the tax benefits. Any earnings received from business carried out within the offshore jurisdiction will be taxed at the local rate.

Who can set up Offshore Companies?

More or less anyone can set up offshore companies in whichever location they choose. Offshore jurisdictions are pleased to welcome anyone of any nationality to their homeland as offshore companies. In most cases, the company directors and shareholders will not need to be identified, ensuring a great level of anonymity.

Registering Offshore Companies with Offshore Formations 247

At Offshore Formations 247, our goal is to efficiently and professionally register offshore companies for our many clients. Registering offshore companies in a lot of jurisdictions can take only one day. Whichever offshore location you choose, we will make every effort to register your offshore company as soon as possible.

Over the years, we have built up great relationships with agents in many of the offshore jurisdiction we deal with. This enables us to expedite the registrations in many cases once our clients have given us the go ahead. Our staff are experienced and are always au fait with the latest business, finance and legal rules and regulations in all the offshore locations we handle.

 

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Income Tax Avoidance Rules For Offshore Companies

Wednesday, May 16, 2012

A new guide on income tax anti avoidance rules for offshore companies is now available in the article resource library. Many companies and individuals setting up offshore companies for the first time need to be aware of how their offshore company will be affected by tax anti avoidance rules which can apply to both income tax and capital gains purpose.  The article explains that there must be a transfer of assets by an individual in the initial incorporation process. As a result of the transfer of assets, income becomes payable to a non-resident company or trust. The transferor must have the power to enjoy the income in some way or receive/be entitled to receive a capital sum. The transferor must be ordinarily resident in the UK in the year of liability. The guide provides a detailed account of the benefits that could be taxed under the tax avoidance rules. It also provides some valuable methods to avoid being caught by such provisions. One way to prevent being caught by the above provisions will include ensuring that the individual and their spouse are excluded from benefiting from the offshore company. The guide provides a detailed account of the benefits that could be taxed under the tax avoidance rules. It also provides some valuable methods to avoid being caught by such provisions.

To read the article in full visit Offshore Companies – Income tax anti avoidance rules
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