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Offshore Company Formation Techniques

Sep 10, 2008
There are many benefit's a person can enjoy when they choose to establish an offshore corporation. Many of these benefits include certain tax breaks that a company can receive when they decide to incorporate their business offshore. In countries such as Panama, taxes are extremely low and there are many tax breaks an offshore corporation, or even an individual can benefit from.

Offshore corporations come in two main flavors; the International Business Company and the Limited Liability Company denoted as IBC and LLC respectively. Companies that reside in countries with restrictive tax laws are increasingly seeking out countries like Panama which offer favorable tax laws and incentives to encourage businesses to relocate part or all of their business.

In addition to the favorable corporate tax laws countries like Panama also offer incentives by limiting the import taxes. Exemptions on shipyards or airports and even on the materials themselves may be offered in encourage investment. Establishing an offshore corporation in these countries is the first step to reaping these benefits and can be realized at a relatively low cost.

One aspect that people soon realize about setting up an offshore corporation is that it is a great way to protect your assets by offering a high measure of stability and security. Countries like Panama have strict privacy laws in place that can almost guarantee the anonymity of your corporation should you choose to have it that way. You also do not have to worry about laws against thin capitalisation, which allow you to form your offshore corporation with a very minimal investment.

An offshore company also does not have to worry about high levels of reporting to the government, an aspect that many that run a corporation enjoy. While the laws do differ from country to country, generally with an offshore incorporation, the business is only required to report a minimal amount of information on the company. This is another step that helps lead to keeping a high level of anonymity for your business.

An offshore company also does not have to worry about high levels of reporting to the government, an aspect that many that run a corporation enjoy. While the laws do differ from country to country, generally with an offshore incorporation, the business is only required to report a minimal amount of information on the company. This is another step that helps lead to keeping a high level of anonymity for your business.

Before deciding to set up an offshore corporation, it is a good idea to contact one of these organizations and do your research to determine whether or not setting up a corporation offshore is the right choice for you. There are many benefits that can be enjoyed from having your corporation offshore, but it is still a wise idea to have all information at hand before changing your businesses location.
About the Author
Find out more about the forming an offshore corporation process please visit the author's offshore asset protection attorney website.
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