Starting a Business in Offshore
Recent forum posts
Hello everyone,My name is Hermann Rodrigue KOUADIO, I am African, of Ivorian nationality. My interest on this site is to sell large quantities of agricultural products including cocoa beans, roucou seeds, and cashew nuts. And to allow German companies to build a supply chain with producers.I have a quantity of 10,000 tons of cocoa beans for sale for the next harvest in September-December. I am
Total Posts: 1 Last post by Hermann
I have been asked through a colleague to run a bar for a private event at a chateau in France. It is a pay per drink bar, and I am trying to make sense of the legal requirements - any advice please
Total Posts: 1 Last post by PaulC
What is an Offshore Company?
The term “offshore” was termed in the 1980’s and is used to describe a jurisdiction or country that provides corporate and commercial services to non- resident companies.
They are usually small, with financial centres hugely disproportionate to the population, and the attraction for companies and investors is the climate of low tax coupled, in many cases with privacy.
Today the most popular offshore jurisdictions include:
- British Virgin Islands – the largest number of registrations
- Bermuda - probably best known for aircraft registration.
- Cayman Islands - which has the most assets under management in offshore funds,
- Jersey - popular with the banking, fund management and professional services sectors.
- The Bahamas has a considerable number of registered vessels.
- Panama is a famous international maritime centre.
The main reasons companies choose offshore company formation include:
Many corporations include lots of individual and separate companies. It might be sensible for this type of organisation to register offshore simply as an asset holding vehicle.
Companies doing business in politically or financially unstable countries may choose to incorporate offshore to avoid risk, and protect their assets. This also applies to countries where it is not easy to get the money out, or where exchange rates might make business (and profitability) difficult to predict.
Companies involved in complicated financial dealings will also opt to register offshore for a variety of reasons, not least to keep the financial regulations simple.
Offshore jurisdictions are frequently used to set up joint venture companies where two or more organistions from different countries (with different legislations) need to set up a separate entity.
Successful companies who want to become a public company will choose the offshore company formation option to enable them to be listed on the relevant stock exchange.
Organisations that can assist with Starting a Business
PEO Worldwide is an international PEO offering employer of record, payroll, employee benefits management, HR and compliance services throughout the world.
Multi-lingual Notaries to notarise, translate and legalise documents for international use
Simplified Global Payroll Companies with global employees often find that managing payroll in multiple countries is complicated - different systems, laws, and languages in each country, lack of reporting, and constantly changing laws and regulations each year. Trying to manage global payroll via fax and email with excel spreadsheets leads to data security issues, fines, and penalties for non-compliance. Blue Marble has solved global payroll challenges with cloud-based technology, aggregated reporting, and a hybrid service model in 135+ countries around the world.