Why Offshore Incorporation Makes Sense for Businesses
One of the most important decisions that any business has to make is about where it will incorporate. There are many different options, and each of them has its own set of pluses and negatives. Businesses should spend more time thinking about offshore incorporation, as this can be a tremendous way to take advantage of many different benefits. The most important benefit is asset protection though there are other reasons why it pays for businesses to think about going offshore. Incorporating in a place like Nevis or the Cayman Islands will provide a business with tangible benefits that will last for that business.
Corporate privacy and reduced liability
As a business, you need to be thinking about who will have access to your books and why. One of the most frustrating things for any business is having to open up for any old reason. When you choose to incorporate in a place like Nevis, a good tax lawyer will tell you that you are in line for much more privacy. Likewise, you can reduce your liability when you incorporate in these places. Reduced liability will save you a tremendous amount of money over the long run, and this is something that any business needs to think about.
Reduced tax rates in some instances
When you consult with your tax attorney, you will find out that incorporating offshore can provide substantial tax benefits for most businesses. In the United States, corporate tax rates are always subject to change, and capital gains tax rates are probably going up in the near future. In other countries, the rates are significantly lower on the whole. Choosing to incorporate your business in those places will give you a great chance to save the cash that can help your margins in an increasingly competitive corporate market.