Major benefits of offshore company formation — Minimizing taxes and increasing confidentiality

Many individuals think of setting up an offshore company as it helps in minimizing taxes and increasing confidentiality. Although these are the major benefits that come to mind but the opportunity to considerably reduce business overheads is also a very attractive additional benefit.

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The process of setting up an offshore company is relatively fast and simple and it requires lower set up and maintenance costs. Also, the registration of an offshore company requires minimal capital, usually less than what is required for an onshore registration. In fact, there are jurisdictions where no capital is needed for registration. Even the legal obligations of any directors of an offshore company are often much less. The need of accounting, staff members or a physical office can be overcome with virtual office services. This saves both money and time. For individuals with an interest in international business, setting up an offshore company can be valuable as a vehicle for holding assets, for example as intellectual property or investments in real estate.

Take help of a professional service provider that holds expertise in helping businesses understand the process of setting offshore companies and offshore credit card processing. You should make sure the service provider has a team of experienced and long-established international advisors to help you at every stage of your offshore company formation.