Planning to go global? Well that’s a pretty smart decision. Recently, offshore companies are getting more and more popular. And there are a lot of good reasons for this. For one, owning an offshore company does not come with so many requirements and allow greater freedom. And it’s a clever idea as well if you’re looking for a way to cut your business cost to minimal and avoid so many taxing charges.
The first thing you have to do when planning to put up your own offshore company is to register it. But before you can do that, here are a few important points that you need to carefully consider and establish:
Bank Account – needless to say, you need your own corporate bank account for your offshore company registration. The bank account must bear your business’ name since you will need it as you do legal and financial transactions every now and then. It will also be handy if you connect to trusted banking institutions in the particular jurisdiction where you’re planning to establish your offshore company.
Tax Registration – failing to register their company for tax is most probably the number one reason why a lot of offshore company owners get into legal issues. Tax registration is a crucial factor in offshore company registration and you have to abide with it if you are determined to make your business a success. And when it comes to this, it would be wise on your part if you do your homework and get informed about the different types of taxes that are commonly charged to offshore companies, particularly within your preferred jurisdiction.
Corporate address – corporate laws in most, if not all, countries require business entities to have their registered address. Importantly, the corporate address registered should not just be a mere PO Box number but a physical business location. Establishing your corporate address is very crucial in offshore company registration since it is where all important documents, notices, and other papers will be sent.
Exclusive name for your business – it is nowhere possible to register an offshore company under a name that has already been used by another company. With this, you have to think of a unique name for your business to have it successfully registered. To help you out, you can check your preferred jurisdiction’s official register online to find out whether or not a certain business name has already been registered.
So there go some of the most fundamental factors that you need to consider for your offshore company registration. Laws regarding offshore companies may vary from country to country so you have to see to it that you do some research first to find out how you can successfully register your own offshore company in your desired location.