What is offshore?
For many, the term ‘offshore’ implies a sandy beach in the middle of nowhere or for those who think they know best, a warm silky beach in the Caribbean. But, offshore simply means, on a place away from where you are; off your shores. A place or location that is not where you reside, sand and beach are optional.
Where is offshore?
Anywhere other than your local place of residence must be considered ‘offshore’ to you. With this clear in mind, the international financial services industry (that’s offshore industry, to you and me) becomes a lot bigger than the Caribbean and sometimes, a lot closer than expected.
Who uses offshore companies?
Simple answer: anyone! You don’t have to be a multi-millionaire to have an offshore bank account or an offshore company. It is simply a way to diversify your money (however little or much you may have) and your resources. It’s not keeping all your eggs in one basket and taking advantage of many opportunities offered in the world.
There are many uses for an offshore company. Below you will find a list for the most common uses given to an offshore company. We also show you the most popular jurisdictions today; however, depending on your needs, we will procure any other jurisdiction.
Almost all jurisdictions offer the same type of company composition. However, selecting the right jurisdiction is important to meet your business requirements or achieving your intentions. Some jurisdictions are best for holding assets or conducting personal or professional services. Other jurisdictions are best for actual trading, investment holding, mobility, and financing. There are jurisdictions best known for their flag and are best suited for ship ownership and management. Some jurisdictions are good for running operations at very low tax rates and others are simply dedicated to a particular field of interest.
Discuss with Aspen Global Incorporations Limited your intended use of the company. We will make suggestions adequate to your business plan and budget.
You should always seek legal advice and the guidance of a licensed competent attorney and/or accountant to determine if going offshore is right for you.
Offshore companies are suitable for:
- International Trading
- Holding Portfolios of stock, bonds and cash
- Holding investments in subsidiary or associated companies
- Benefit from double taxation treaties through intermediary holding companies
- Confidentiality and wealth protection
- Personal security, discretion
- Providing for a loved one
- Philanthropy or charitable endeavors
- Tax minimization
- Personal service companies
- Property and land ownership
- Employment companies
- Professional services contracts
- Patent, royalty & copyright holding
- Ship management & yacht ownership
- Stock market listings and capital raising expertise
There is no cureall. Every person and every situation must be addressed individually. What works for your friend or relative may not necessarily work for you. Allow us to discuss with you the many alternatives available.
Consult with your attorney or accountant your options and find out if going offshore is right for you.