One of the questions that come to mind when wanting to diversify our assets and protect our assets is whether buying an offshore company is a good idea or not. The creation of an offshore company is one of the most interesting and favorable options not only for today’s businessman, since offshore jurisdictions have been for many a vehicle for tax planning since they allow among its many benefits the possibility of tax exemption, as well as the ease of doing international business.
Here are some of the questions that arise when wanting to buy an offshore company:
Is it legal to buy an offshore company?
Of course, you can create a company wherever and whenever possible, the difference between a company in your country of origin and an offshore is that the second will give you the opportunity to reduce the tax burden and that almost does not need a cash capital.
Do I need to travel to create an offshore company?
Definitely NO, from your home you can contact a registered agent in the place where you want to incorporate your company, they have a government permit to do this process, which will avoid spending time and money on a great trip.
How long does the incorporation of an offshore company take?
This may vary depending on the jurisdiction normally but the average time of all tax havens is 4 or 5 days.
Which is better, buy a new offshore company or a ready-made one?
One of the main differences between the two is the period of time however this is not a big difference, let’s say that if you are willing to wait a week or less, you can get a new one but if your requirement has to be immediately, we recommend Acquire a ready-made partnership.
Not only the couple of days is what makes the difference between these two types of companies, but also the fact that a company already made has a history, this means that you can buy for example, a company that is already 5 years old, which will give your company perhaps more credibility.
Sometimes you need to close deals with suppliers but these policies can only do business with companies that have at least a few years of existence, this situation where it would be convenient to buy an existing offshore company.
New companies are cheaper than existing ones , because they have to pay certain fines for years where they were not renewed.
Why are most of the jurisdictions that offer offshore companies islands?
Most of the islands that do not have reserves of natural resources, countries with income limits or those where their economy does not progress so much, need income in some way, so selling offshore companies is a more welcome income for the community.
Although buying an offshore company is not expensive, imagine this amount multiplied by thousands and thousands of times, in addition to registering a company you need to pay annual quotas to the government for active maintenance.
Without forgetting the bank accounts or investment funds where millions of dollars are placed.
The fact that the governments of these paradises offer tax benefits to their investors is not only to earn money in each annual quota, but with this more jobs are generated, a business environment is developed, better telecommunications, thus strengthening its economy.
There are several jurisdictions where you can obtain tax and privacy benefits , such as, Belize , Nevis , Seychelles, Dominica , Panama , United Kingdom, British Virgin Islands and Hong Kong.
How to buy an offshore company?
1. You must first contact a registered agent, we advise you to do it with Offshore Pro Group , however you can do it with any other.
2. To do this you do not need to travel but we need to have trust in our agent, since normally they will not work without having received the payment of the company that normally goes from 700 to 900 usd
3. Collect the necessary documents, including:
- Copy of passport
- Public service bill
- Bank reference
The 3 previous documents must be certified by a notary or lawyer and must not be longer than 3 months.
4. Send the documents to your chosen agent along with the payment.
5. After a couple of days you will be receiving a copy of the documents from your company to your email address and then to the address that you indicate the originals
Once you have the company you can request the opening of an offshore bank account .