Offshore Company Formation |
Listen to a Healy Consultants audio commentary on current trends in the offshore industry here
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If properly structured, offshore company formation is an ideal, tax-efficient strategy for entrepreneurs to conduct international business. In our opinion, the ideal offshore jurisdictions for international entrepreneurs include Singapore, Hong Kong, Ireland, New Zealand and Dubai (see our Top Four jurisdictions page). These jurisdictions boast i) excellent international reputations ii) have investor-friendly business environments and iii) are economically and politically stable. The following information will help you determine whether registering an offshore company is the optimum solution to fulfill your international business objectives. |
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Advantages of Offshore Company Formation |
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| 1. | Formation of an Offshore company is also popular for entrepreneurs i) setting up an import-export company or ii) establishing an international trading company or iii) or as an asset holding company or iv) to hold property investments or intellectual property (see the World Intellectual Property Organisation website). |
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| 2. | Offshore company formation procedures are usually less complex than those in traditional trading jurisdictions. For example, offshore jurisdictions require only limited information on shareholders, directors and beneficial owners. As a result, setting up an offshore company is quick and cost-effective. |
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| 3. | If properly structured, offshore company formation is an excellent way to legitimately minimise international taxation. Offshore tax planning is a key offshore company service provided by Healy Consultants. For example, in Singapore, international profits are legally tax-exempt provided funds are not remitted to a Singapore corporate bank account. For further information, visit our Singapore Company Formation page. |
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| 4. | Clients who choose offshore incorporation are typically successful, independent contractors, consultants and traders. For example, offshore company registration is perfect for global commodity traders, IT consultants, and financial services consultants. For more information, visit our Reasons to set up an offshore company page. |
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| 5. | Entrepreneurs choosing company formation offshore in an international jurisdictions such as Singapore and Hong Kong portray a positive, reputable image to customers, suppliers, investors and banks. |
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| 6. | Offshore company formation is a legitimate way to protect global assets. International entrepreneurs prefer their international investments to be owned by offshore companies. For more information on asset protection, visit our Offshore Asset Protection page. |
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| 7. | To support company formation offshore, Healy Consultants assists clients with their international banking requirements. When opening corporate bank accounts, Healy Consultants works with internationally recognised banks such as HSBC, Standard Chartered Bank and Citibank. For more information, visit our offshore corporate bank accounts page. In addition to offshore banking, we offer a wide range of other services to support offshore incorporation. |
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Disadvantages of Offshore Company Formation |
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| 1. | While offshore company formation is a legitimate way to minimise international tax, concealing information about offshore investments is illegal in the majority of countries. |
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| 2. | Traditional offshore jurisdictions are increasingly insecure. For example, many offshore jurisdictions are subject to pressure from the Organisation for Economic Cooperation and Development (OECD) to exchange company and bank account details of foreign clients. The OECD seeks to minimise tax evasion, money laundering and terrorist financing.
That said, Singapore and Hong Kong are two jurisdictions not carrying any tax haven stigma. |
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| 3. | If the incorrect offshore company jurisdiction is chosen, the company projects a poor image to international customers, suppliers, investors and banks. |
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Healy Consultants Fees for Offshore Company Formation |
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Our costs to set up an offshore company vary depending on the jurisdiction chosen. Typically total engagement costs range between US$5,000 and US$10,000, depending on corporate structure chosen and the professional services required. We will be happy to prepare a detailed quotation based on your specific requirements. |
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| Other Information | ||||
Demand for Singapore incorporation along with offshore banking in Singapore is growing. Hence, the financial services industry in Singapore continues to grow to meet the needs of the high net worth individuals and entrepreneurs investing in Singapore. |
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Refer to the following links to read more about our offshore corporate services: |
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| Contact Us | ||||
For more information on offshore company formation, email email@healyconsultants.com or call us at (+65) 6735 0120. |
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Buy the Healy Consultants' Asia Business Set Up book, to order call +65 6735 0120 or contact email@healyconsultants.com
Setting Up Your Company Offshore |
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Following is a useful resource for business people considering setting up an Offshore company. The table contains a range of articles with detailed information related to offshore company formation. Not only procedural aspects of incorporating a company offshore but also key elements for entrepreneurs to consider when setting up a business, such as laws, culture, customs and lifestyle.
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OFFSHORE NEWS |
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| © 2003-2010 Healy Consultants Pte Ltd | OFFSHORE COMPANY SET UP SERVICES |