Set Up an Offshore Company

International entrepreneurs set up an offshore company for many reasons. Healy Consultants provides advice to clients to meet their needs during all steps required for starting a company offshore.
Considerations for setting up an offshore company include:
1.	Starting a company offshore has several advantages. The company can own trade licenses and royalty rights without the company paying tax on royalty receipts. Healy Consultants advises firms on the sale of patents, technical know-how, and license and franchise agreements of an offshore company, which is then owned by an offshore trust. Upon acquisition of the rights, the offshore company enters into agreements with licensees wishing to utilise the patents, technical know-how, licenses or franchises around the world. The income, subject to applicable withholding tax, is accumulated tax-free in the offshore company. By careful selection of the jurisdiction for setting up an offshore company, withholding taxes can be substantially reduced by the commercial application of double taxation treaties.
2.	Large corporations set up an offshore company when operating in economically and politically-unstable countries. By starting a company offshore, the perception of risk is reduced because asset ownership and the operational base is migrated offshore.
3.	Setting up an offshore company or transferring wealth to an offshore trust is an ideal asset management strategy for expatriates.
4.	Transfer pricing - through this strategy, profits are migrated from a high tax jurisdictions (e g Australia) to a low or zero-tax offshore jurisdiction (e g Hong Kong). By setting up an offshore company, a bridge is created to act between a transaction that would otherwise take place directly between two high tax jurisdictions. Starting a company offshore to achieve this is legal if properly structured.
5.	Global entrepreneurs may set up an offshore company to invest in property, stocks and shares, commodities and other assets benefit from anonymity and tax savings. Funds accumulated by starting a company offshore can be invested or deposited globally, although funds may be subject to tax where the investments are lodged.
6.	Lawfully minimising tax - entrepreneurs and global firms set up an offshore company for this purpose. A properly-structured company's international income is legitimately tax-exempt. Refer to the Inland Revenue Authority of Singapore website for details of Singapore's beneficial tax rules. Furthermore, an offshore company accesses double tax treaties signed between two countries.
7.	A person working overseas such as a consultant may set up an offshore company to minimise tax exposure. The individual receives a fixed consulting fee in the country of employment, with the balance accumulated offshore. Similarly, designers, authors, consultants and entertainers consider starting a company offshore to receive fees for services.
8.	Some of our clients decide to set up an offshore company as a captive insurance company for certain types of cover such as product warranty. Starting a company offshorefor captive insurance can generate tax deductible premium and tax savings through the offshore insurance company.
9.	Payroll costs and travel expenses are reduced by starting a company offshore. For example, paying employees working overseas from an offshore base. This also offers tax relief and social security saving benefits for employees.
Contact Us
To set up an offshore company, contact email@healyconsultants.com or call us in Singapore at (+65) 6735 0120.
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