Planning to go offshore, but don’t know which jurisdiction to choose from?
This is a very common struggle clients meet, before establishing their first offshore company.
And now even more of a struggle, considering the recent events, Cyprus financial crisis and the hit towards tax havens from the International Consortium of Investigative Reporters. Bear in mind economic crisis can hit any country, and the hit towards British Virgin Islands and Cook Islands, was an on-going 30 years investigation. So HEADS UP, and all I can emphasize, is go and seek your local tax advice regarding where to choose the right jurisdiction for both, banking and business and do some research for yourself beforehand!
First things first! As we say to all our clients, there is no such thing as "the best offshore jurisdiction". There are over 40 jurisdictions around the world that offer many different fiscal and financial benefits for offshore businesses.
You may want to consider these factors when choosing the location for your offshore company:
- Geographical location
- Language spoken
- Recognisability of the country
- Type of its legislation
- Judicial system
- Price of incorporation
- Speed of incorporation
- Type of business for which the offshore company is required
- Range of services offered
Once you have considered the above, you can move forward!
Thank you for reading my post! And you are welcome to leave comments, feedback, suggestions for other posts or contact me for more information.
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