How to Choose the Right Offshore Jurisdiction for Your Business
April 5, 2016
Changing your corporate location to an offshore hub can become one of the best financial decisions nowadays. However, you should make a well-weight decision, which country suits your commercial needs best before you can enjoy the benefits of doing business overseas. A simple online search can prompt you a great variety of options and destinations to move your entrepreneurial activity in. Still, we always advise our clients to make one of the best decisions – to take the professional assistance of the company dealing with offshore business formalities. Choosing the country to setup new company in is not a problem when experts assist you.
Keep in mind: the things to be considered while choosing an off shore destination are multiple. You have to focus on what you need and what this or that jurisdiction can offer. If you are new to entrepreneurship, it can become a daunting task for you. We offer assistance in the process and, first of all, advise to bear in mind the following aspects:
- Among the things to consider in the first turn is your company’s structure. In case you have partners or shareholders your needs will differ from the requirements of a sole owner. Certain locations offer more benefits for the sole proprietors.
- The second thing to think about is the industry your business belongs to. Some countries have special regulations and taxation rules for specific industries. Your choice should be determined according to these regulations so that you don’t face additional limiting rules.
- The reason you make the transfer is also important. Select the hub, which meets your reasons for the move best. In case you want to decrease your taxes, for instance, you’d better choose a location, which offers no taxation. In case, your aim is to reduce the paperwork and reporting you have to conduct, choose a jurisdiction offering those benefits.
- If your priority is to extend your options and gain more customers, mainly worldwide, you should consider a country advantageous for this. Certain locations will without any doubt be better for you. In case you aim to do more business in the European countries, Seychelles; may be a perfect match; Panama; may become an ideal hub for working with the Americas.
Definitely, there is a great deal to consider and plan for, but the good news is that you need not do everything on your own. Our experts are ready to provide the necessary assistance to you, analyze your specific needs and get a company set up in no time.