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Opinions on offshore companies
Hi, so i’m thinking about opening an offshore company in the future but i literally know nothing about it except that i heard about that it’s a tax payers’ heaven 🙂 .. Just was wondering if anybody had experience with it… What are the pros and cons.. As i’ve seen some of this countries with no taxes and they are clearly open for international businesses, so i’m assuming that there’s got to be some catch :)<
Hi, so i’m thinking about opening an offshore company in the future but i literally know nothing about it except that i heard about that it’s a tax payers’ heaven 🙂 .. Just was wondering if anybody had experience with it… What are the pros and cons.. As i’ve seen some of this countries with no taxes and they are clearly open for international businesses, so i’m assuming that there’s got to be some catch :)<
Marko, I suggest that if you would like to know more that you contact The Freemont Group in Dubai, they help inviduals setup Offshore Companies.
Marko,
I am not sure what the law is in regards to US citizens but as Dutch citizens on our tax farm we can setup Offshore Companies via parties like the Freemont Group or Mossack Fonseca in Panama. I would strongly suggest that you contact one of these firms and contact your local trustworthy lawyer specialized in these fiscal issues.
Keep in mind that ultimately if you decide to stay in the for instance the US as a US citizen you will not be in charge of that Offshore company.
I hope this helps.
Hi Anthony,
Thanks for the information i will look that up!
Cheers
very large topic Marco, what are you trying to accomplish? What passport do you hold?
Hi Rick
Yes i know that it’s a huge topic and sometimes controversial.. 🙂
Well i had casual discussion with junior operations manager from my team regarding moving to some off shore state in the future.. So in the future we would probably consider moving/having a branch but at the moment nothing related to it.. My company is in the UK, they are slowly sucking my blood 🙂 So of course, these type of questions are naturally coming to my mind haha 🙂 I have a Serbian passport, but will soon get a Spanish one..
Both Serbian and Spanish passports allow quite a lot of international freedom for their chattel. You might consider Lithuania, British Virgin Islands, Malta, or Cyprus. I suspect you may have historical or personal problems with Montenegro, but it is an option too.
You may want to consider a compound structure, where your offshore operating company is owned by beneficial trust, or an anonymous bearer share mutual fund.
These are tricky matters, friends have used Thorstensteins in Vancouver Canada, for legal structuring, and PWC for tax and domicile advice.
Thanks for all the useful information Rick. Hm Lithuania, that’s interesting. No i don’t personally have any problems with it since i don’t consider myself Serbian.. I grew up mostly in other countries.. I also don’t trust the legal systems of that Balkan/South region..Quite risky in my eyes.. So i’m not sure about Montenegro and Cyprus, but thank you! 🙂
I will look up those, thanks so much for recommendation, highly appreciated.
Cheers
