Other reasons to consider when incorporating offshore 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.

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 minimise 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 (see also point 7 below).

When incorporating offshore, 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. For more information on this trend and its implications for incorporating an offshore company, follow this link.

Incorporating an offshore firm is straightforward, 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 company law and accounting requirements prior to incorporating an offshore company.

While incorporating offshore is an excellent 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. Please contact us for more information on engineering the correct offshore corporate structure for your circumstances.

For more information on incorporating offshore or for assistance in building an offshore corporate structure, email email@healyconsultants.com or telephone us at (+65) 6735 0120.