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Reasons to Incorporate an Overseas Company

Turner Little have helped many companies form both in the UK and overseas. Here are their reasons to look to incorporate a company abroad.

Privacy

Personal privacy has been eroded dramatically in recent years to the point where individuals feel that privacy, the right to which is enshrined in the human rights act, no longer exists. Whilst the media would have us believe that anyone using offshore structures such as companies must be up to no good that is simply not the case. Offshore structures in an appropriate jurisdiction which does not readily share information with other countries can be effective in providing both individuals and companies with a level of privacy not achievable in any other way.

Some countries to consider

Belize
Hong Kong
Dominica

Asset Protection

In a world becoming smaller and more litigious by the day, people are finding their hard earned wealth whatever the form it takes, cash, property, vehicles, shares or even intellectual property, more at risk due to the increasingly litigious nature of individuals and companies alike. The correct and appropriate structure offshore can provide both a legal and effective protection to any asset.

Consider structures using:

Belize
Seychelles
Hong Kong
Dominica
British Virgin Islands

International Businesses

Clients from around the world take advantage of reduced red tape and legislation when operating globally by incorporating in the appropriate offshore jurisdiction which offers simplified accounting requirements and which have no restrictions on trading globally. Large Corporations have long ago seen the benefit of moving their international operations to the right jurisdiction, now it can be done by even the smallest international operator. The benefits and savings arising from reduced annual accounting obligations, low or zero corporation tax, maintaining privacy as well as the international flavour derived from being overseas are just some of the things to consider.

Countries to consider include:

Hong Kong
Delaware USA
Nevada USA
Gibraltar

Tax Savings

There are still lots of legal ways in which tax liabilities can be minimised and minimised legally at that. An increasing number of individuals and companies are coming to realise that tax savings can be had by operating through a legal and carefully created offshore structure that offers long term financial benefits to them either as individuals or corporate entities. The precise structure and jurisdictions can only be properly determined following detailed discussion which might involve referral to a specialist tax advisor.

Banking

The time is long gone when the only good bank was a UK bank. Nowadays, banks in the UK and Europe are becoming ever more slaves to anti-money laundering legislation, know your client rules and potential reputational risk which might arise from accepting accounts in certain industries or sectors or from certain individuals. Many times, a bank’s fear of doing something wrong or being involved in something which might be seen by some as not quite right and perhaps at some time in future causing them a problem will lead to clients who have operated accounts perfectly well for many years, having those accounts closed for no apparent reason.

Organisations and individuals finding themselves in this position are increasingly turning to using banks overseas many of whom provide an excellent level of service at similar costs as in the UK and in most cases operating under control of a Central Bank providing similar levels of protection to depositors as can be found in the UK.

Countries worth considering are:

Belize
Seychelles
Gibraltar
Dominica
Malta
Caribbean

Turner Little

Finally, offshore structures or banking are not for everyone. It is well worthwhile taking advantage of an absolutely free confidential discussion with a member of Turner Little staff to ascertain whether there may be benefits for you or not. Contact them on 01904 783101 and speak to one of their consultants.

Turner Little and its affiliates do not provide tax, legal or accounting advice. Material on this page has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.