About the Talk
June 19, 2018 12:00 PM
Rome, ItalyRome, Italy
As a quick overview, here are some benefits of offshore companies:
• Ability to open a corporate bank account • No taxes at a corporate level • Privacy (for both directors and shareholders) • Strong asset protection • Professional appearance • Debts, assets, licenses, contracts can be made or held by the legal entity • Liability is limited, and you distanced from the actions of your business
Incorporate a company is a prerequisite for any serious business.
Going offshore, you can also experience these benefits:
• Banking/investment opportunities otherwise not available • Planting a flag in a strategic jurisdiction • Mitigation of sovereign risk • Protection from bankruptcy, lawsuits, divorce, civil unrest, and other ‘worst case scenarios‘ • Access to higher risk merchant accounts • Access to funding or investment capital
It should be obvious that there are tremendous advantages for entrepreneurs who have incorporated either an onshore or offshore company.
Some legal entities can even lead to passports or citizenship – A Singapore, for example, is one such jurisdiction which allows for residency and eventual citizenship for individuals who set up a company there.
Not every jurisdiction was built the same
Hong Kong, for example, has yearly audit requirement, something you might not want to deal with. Singapore is great for someone sourcing physical goods, but their requirement of a local director makes it an expensive option.
Incorporation and passports is my business, and every day I’m on the phone with:
- Entrepreneurs who need incorporate a company, 2nd passport, or offshore bank account
- Service providers across the globe who provide me with a wholesale discount
- Lawyers, accountants, agents and bankers with boots on the ground information