Thinking about registering an offshore company? It makes sense to plan ahead and do as much research as possible to ensure your ideas and vision become a reality, not caught up in a mire of setbacks and red tape. The process can be a little daunting, so you might want to consider the services of a specialist firm to assist you with your offshore company formation. They can guide you through the legal maze and help you to avoid common mistakes and expensive pitfalls.
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People consider setting up an offshore company for a variety reasons, namely paying less in tax (legitimately of course!) as well as protecting assets and confidentiality. This should not be confused with tax evasion, which of course is completely illegal.
Some countries around the world have emerged as tax havens. Foreign businesses can register companies here with little or no tax obligations. Anyone wanting to set up an offshore company will find the actual process of setting up and registering their business in these countries, is often quicker and easier than back home.
There is no one country that is better than another for this purpose. Rather, the best option for the location of your offshore company formation depends on your circumstances and type of business. Consider things like language and cultural differences too when reviewing different jurisdictions for your business.
Governments tolerate and even encourage this type of activity to bring foreign money into the country. Registration and investment generate substantial funds for governments of these countries. This in turn creates jobs and speeds up the development of vital infrastructure.
One criticism of the system is that it's open to abuse by criminals and terrorists, but governments regulate activities to ensure the vast majority of offshore investment is legal.
It's completely legal to own an offshore company. Look out for tax liabilities when transferring funds from one location to another. Tax accountants can steer you through the rules and regulations.
The Article is written by www.scfgroup.com providing Asset Protection and Cyprus Company Formation Services.Visit http://www.scfgroup.com for more information on www.scfgroup.com Products & Services___________________________Copyright information This article is free for reproduction but must be reproduced in its entirety, including live links & this copyright statement must be included. Visit www.scfgroup.com for more services!
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