Incorporating an Offshore Company |
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Incorporating an offshore company to suit our Clients' needs and circumstances is one of Healy Consultants' core strengths. However, before incorporating offshore, Clients are encouraged to consider the following information: |
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Some factors to consider when incorporating an offshore company include: i) what image is portrayed to your customers, suppliers and investors by incorporating offshore; and ii) what business do you wish to carry out through the newly incorporated company after setting up your offshore corporate structure?
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Other important questions to consider when incorporating an offshore company include: i) are you incorporating an offshore company purely to minimise tax?; ii) are you incorporating offshore due to privacy concerns?; iii) are you setting up an offshore corporate structure to use as a holding company for your global business? iv) are you incorporating an offshore company to conduct international trade. |
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Incorporating an offshore company is simple, thanks to Healy Consultants' efficient engagement procedures and experience of the optimum offshore corporate structure. That said, it is always advisable to be aware of the corporate law and accounting requirements prior to incorporating offshore. |
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Healy Consultants preferred low-tax jurisdictions for incorporating offshore include Singapore, Hong Kong, Dubai, the Marshall Islands, New Zealand and Ireland. These jurisdictions offer the best long-term offshore corporate structures for international business.
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Below are some common features for incorporating an offshore company within four popular jurisdictions:
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i) Singapore - When forming an offshore corporate structure, the firm must have at least one Singapore-resident director. There is also a public register of shareholders and directors. ii) Hong Kong - When incorporating an offshore company in Hong Kong, annual accounts must be submitted for audit. However, if properly-structured a Hong Kong offshore company is tax-free but is not perceived as a tax avoidance mechanism. iii) Dubai - The entity cannot trade products or provide services within the UAE. Although it is tax-free, a Dubai offshore company is required to submit audited financial statements annually to the Dubai government. iv) Marshall Islands - When incorporating an offshore company in the Marshall Islands, it is a private entity with no public register of shareholders or directors. |
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Selecting the most suitable jurisdiction is key to incorporating an offshore company. Our preferred corporate jurisdictions combine a range of tax and legal advantages for entrepreneurs incorporating offshore. Advantages of incorporating an offshore corporate entity can include:
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i) |
Benefits of incorporating an offshore entity include tax exemptions on international profits.
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Another key tax advantage of incorporating an offshore entity is the network of double taxation treaties that offer tax relief between certain jurisdictions.
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Minimal annual financial reports are typically required when incorporating an offshore entity.
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An offshore corporate entity is a legal way to protect global assets. Visit our asset protection page for more information.
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While an offshore corporate structure is an ideal way to legitimately minimise international tax liabilities, our clients should note that when incorporating an offshore company, taxes should be paid on all profits or income received and used for personal living. |
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While there are a wide range of jurisdictions to choose from when incorporating offshore, many are bowing to pressure from the Organisation for Economic Cooperation and Development (OECD) to exchange confidential client information. This is part of the OECD's efforts to fight tax evasion, target money laundering and track terrorist financing. When incorporating an offshore company and engineering an offshore corporate structure, it is critical to consider global trends. |
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When incorporating an offshore company, be aware of changing regulations and global developments. For example, daily experience with our Clients confirms the growing trend for the migration of corporate structures from traditional offshore tax havens like the British Virgin Islands (BVI) and the Bahamas towards more transparent, legitimate, tax efficient trading jurisdictions like Singapore, Hong Kong, Dubai, Ireland and New Zealand. |
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Healy Consultants fees for Incorporating an Offshore Corporate Entity |
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Offshore corporate entity costs vary depending on the jurisdiction chosen. Typically total engagement costs range between US$5,000 and US$10,000, depending on offshore corporate entity chosen and the professional services required from Healy Consultants. We will be happy to prepare a detailed quotation based on your specific offshore corporate entity requirements. |
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Contact Us |
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For more information on incorporating an offshore company, contact email@healyconsultants.com or telephone us at (+65) 6735 0120. |
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Back to Offshore Company Formation page.
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